Chicago, April 09, 2024 (GLOBE NEWSWIRE) -- The Organic Peroxide Market is projected to grow from USD 1.9 billion in 2023 to USD 2.6 billion by 2030 at a CAGR of 4.2%, as per the recent study by MarketsandMarkets™. The organic peroxide market is experiencing a surge in demand propelled by coatings, adhesives, and elastomers manufacturers. This uptick in demand can be attributed to the integral role organic peroxides play in these industries, serving as essential initiators, crosslinking agents, and curing agents. Coatings, adhesives, and elastomers are crucial components in various sectors, including automotive, construction, and consumer goods. As these industries continue to expand and innovate, the need for effective and versatile organic peroxides intensifies. Manufacturers are increasingly relying on these compounds to enhance the performance, durability, and overall quality of their products, reflecting the growing significance of organic peroxides in meeting the evolving demands of the coatings, adhesives, and elastomers market.
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Browse in-depth TOC on "Organic Peroxide Market”
214- Market Data Tables
42- Figures
242- Pages
List of Key Players in Organic Peroxide Market:
- Arkema SA (France)
- NOF Corporation (Japan)
- Nouryon Chemical Holding B.V. (Netherlands)
- United Initiators GmbH (Germany)
- PERGAN GmbH (Germany)
- Others
Drivers, Restraints, Opportunities and Challenges in Organic Peroxide Market:
- Drivers: Increasing demand for organic peroxide from polymer industry
- Restraints: Safety issues restricting import/export
- Opportunity: Emerging market for organic peroxide
- Challenge: Logistics and storage issues
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Key Findings of the Study:
- The diacyl peroxide segment dominated the organic peroxide market in 2022.
- The application segment of chemicals and plastics is poised to register the highest growth rate in the organic peroxide market in the forecast period.
- Asia Pacific is estimated to be the largest region in the organic peroxide market.
Based on the Type, the diacyl peroxides segment holds largest market share in organic peroxide market. This prominence can be attributed to the versatility and widespread applicability of diacyl peroxides across various industries. As a type of organic peroxide, diacyl peroxides play a pivotal role as initiators in polymerization processes, making them indispensable in the production of polymers, coatings, and adhesives. Their efficient and controlled radical generation capabilities contribute to their prevalence in polymer manufacturing and processing. Additionally, diacyl peroxides find extensive use in crosslinking and curing applications, further solidifying their market dominance. With industries continually seeking high-performance materials and manufacturing processes, diacyl peroxides stand out as a favored choice, driving their significant share in the organic peroxide market.
Based on application, the Chemicals and plastics application holds largest market share in organic peroxide market. This leadership is driven by the fundamental role that organic peroxides play in the synthesis, modification, and processing of various chemical compounds and plastics. Organic peroxides, renowned for their efficacy as initiators and crosslinking agents, are integral to polymerization reactions, facilitating the production of polymers, resins, and plastics with enhanced properties. Their versatility in promoting crosslinking and curing processes significantly contributes to the quality and performance of end products in the chemicals and plastics sector. As industries continue to emphasize innovation and the development of advanced materials, the demand for organic peroxides in the chemicals and plastics application is robust, solidifying its position as the primary driver of the organic peroxide market.
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Based on region, The organic peroxide market is regionally segmented into Asia Pacific (APAC), Europe, North America, the Middle East & Africa, and South America. Asia Pacific is the largest market for organic peroxide. The region's robust industrial and manufacturing landscape, particularly in sectors such as plastics, chemicals, and automotive, necessitates the widespread use of organic peroxides as initiators, crosslinking agents, and curing agents. Moreover, stringent regulatory standards promoting the use of environmentally friendly and sustainable materials align with the versatile and efficient characteristics of organic peroxides, further propelling their adoption.
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