Dublin, March 20, 2024 (GLOBE NEWSWIRE) — The “Global Organic Peroxide Market by Type (Diacyl, Ketone, Percarbonate, Dialkyl, Hydroperoxides, Peroxyketal, Peroxyester), Application (Chemicals & Plastics, Coatings, Adhesives & Elastomers, Paper & Textiles, Detergents), and Region – Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
The market size for Global Organic peroxide Market size is projected to grow from USD 1.9 billion in 2023 to USD 2.6 billion by 2030, at a CAGR of 4.2% from 2023 to 2030.
The organic peroxide market is experiencing robust growth driven by expanding applications in industries such as plastics, rubber, polymers, and coatings. One key driver is the rising demand for polymerization reactions in the production of plastics and rubber-based products. The increasing focus on sustainable and eco-friendly materials has also led to a surge in demand for organic peroxides in the development of sustainability solutions in wind and solar energy. However, a notable challenge facing the market is the inherent hazard associated with the reactivity of organic peroxides, necessitating stringent safety measures in handling and storage. An opportunity lies in the development of safer and more stable formulations, addressing these safety concerns and opening avenues for broader applications in diverse industries, ultimately propelling the organic peroxide market further.
By Type, Diacyl peroxide segment to account for highest growth rate
The diacyl peroxide segment, notably exemplified by benzoyl peroxide, is experiencing unprecedented growth in the organic peroxide market due to its widespread use and diverse applications. Benzoyl peroxide, a prominent diacyl peroxide derivative, has found extensive utility as a radical initiator in polymerization processes for plastics and rubber manufacturing. Moreover, its effectiveness in acne medication has fueled its demand in the pharmaceutical and cosmetic industries. The versatility of diacyl peroxides extends to their role as cross-linking agents in the production of various materials, contributing to their increased adoption across different sectors. As industries continue to explore novel applications and formulations, the inherent reactivity and stability of diacyl peroxides make them a preferred choice. The multifaceted nature of benzoyl peroxide, with its applications ranging from polymer synthesis to skincare, underscores its pivotal role in driving the remarkable growth of the diacyl peroxide segment within the organic peroxide market.
By Application, Coatings, adhesives, and elastomers segment to account for the second highest CAGR during the forecast period
Coatings, adhesives, and elastomers are poised to register the second-highest growth in the organic peroxide market, following the chemicals and plastics sector. This surge can be attributed to the expanding demand for these compounds in the formulation and manufacturing of a wide array of materials. Organic peroxides play a pivotal role as initiators and catalysts in the polymerization reactions that are integral to the production of coatings, adhesives, and elastomers. The ever-growing construction and automotive industries, coupled with the rising focus on sustainable and high-performance materials, are driving the need for innovative formulations. Additionally, the versatility of organic peroxides in enhancing the durability, adhesion, and elasticity of coatings, adhesives, and elastomers is fueling their adoption in these applications. As industries continue to prioritize advancements in material science and eco-friendly solutions, the coatings, adhesives, and elastomers segment is expected to witness substantial growth within the organic peroxide market in the foreseeable future.
APAC to be the fastest growing region in the Organic peroxide market
The Asia-Pacific (APAC) region is expected to exhibit the highest compound annual growth rate (CAGR) in the organic peroxide market from 2023 to 2030. This growth is driven by emerging economies in APAC, experiencing substantial demand for organic peroxide. The expansion of the construction industries, propelled by rapid economic development and government initiatives toward infrastructural development, is a key factor. The increasing population in these countries contributes to a robust customer base.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 230 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $1.9 Billion |
| Forecasted Market Value (USD) by 2030 | $2.6 Billion |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
- Diacyl Peroxides to Lead Organic Peroxide Market Until 2030
- Chemicals & Plastics Application to Lead Organic Peroxide Market Until 2030
- Asia-Pacific Led Organic Peroxide Market in 2022
Premium Insights
- Asian Economies to Witness Relatively Higher Growth Rate in Organic Peroxide Market – Figure 9 Attractive Opportunities for Players in Organic Peroxide Market
- Asia-Pacific: Organic Peroxide Market, by Application and Country, 2022 – China Accounted for Largest Share in Asia-Pacific
- Organic Peroxide Market, by Country – Organic Peroxide Market in China to Grow at Highest CAGR
Market Dynamics
Drivers
- Rising Demand for Organic Peroxides from Polymer Industry
- Increasing Use of Organic Peroxide in Paints and Coatings
- Rising Demand for Benzoyl Peroxide in Different End-use Industries
Restraints
- Safety Issues Restricting Import/Export
Opportunities
- Increasing Research and Development Activities
- Emerging Markets for Organic Peroxides
- Multi-Functionality of Organic Peroxides
Challenges
- Rising Prices of Raw Materials
- Logistics and Storage Issues
Case Study Analysis
- Organic Peroxide Decomposition Pressure Relief System Design
- Comparative Case Study for Pediatric Patients with Acne Using Three-Step Acne System Versus Benzoyl Peroxide
Companies Profiled
- Nouryon Chemical
- Arkema
- NOF
- United Initiators
- Pergan
- Dongsung Chemical Co. Ltd.
- Merck KGaA
- Chinasun Specialty Products Co. Ltd.
- Akpa Kimya A.S.
- Novichem
- Ambani Organics Ltd.
- Mpi Chemie
- Suzhou Hualun Chemical Co. Ltd.
- Ace Chemical Corporation
- Plasti Pigments Pvt. Ltd.
- R.T. Vanderbilt Holding Company, Inc.
- Shandong Ruinat Chemical Co. Ltd.
- Go Yen Chemical Industrial Co. Ltd.
- Jiangsu Peixing Chemical Co. Ltd.
- Shandong Haijing New Materials Co. Ltd.
- Lanzhou Auxiliary Agent Plant Co. Ltd.
- Zibo Zhenghua Auxiliary Co. Ltd.
- Anav Chemicals
- Jinan Qinmu Fine Chemical Co. Ltd.
- Jiangsu Yuanyang Pharmaceutical Co. Ltd.
- Roma Chemicals
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- Global Organic Peroxide Market
