Organic Peroxide Market is expected to grow at a CAGR of roughly 2640 million

Synopsis of Organic Peroxide Market:
Organic Peroxide is a white to yellow colored solid or liquid composed of two oxygen atoms joined together. It can be found as solids (usually fine powders), liquids or pastes and undergoes self-accelerating decomposition and results in severe burning and explosive decomposition.
It is mainly used as polymerization initiator or crosslinking agents in the chemical and plastics industry. Degrading agent is another important application of organic peroxide. In 2016, initiator took 76.68% of total consumption share. Crosslinking agent and degrading agent each took 11.72% and 6.37% consumption. Other applications totally took 5.23% consumption share. The worldwide market for Organic Peroxide is expected to grow at a CAGR of roughly 0.8% over the next five years, will reach 2640 million US$ in 2024, from 2520 million US$ in 2019

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Organic peroxide application as a chemical in various industries has increased significantly in the recent past. Globally, companies are engaged in development of efficient organic peroxide solutions catering to the varied needs of consumers across different applications of organic peroxide. For instance, Arkema Inc. offers a range of organic peroxide under Luperox Solar to ensure fast crosslinking of encapsulating resins. Rubber and plastic industry are among the top users of organic peroxide. Owing to increasing research and development leading towards product development, the organic peroxide market is expected to witness significant growth in the next five to six years.

Organic Peroxide Market Segmentation:

Organic peroxide market segmentation includes organic peroxide classes, application and region. On the basis of organic peroxide classes, the segmentation includes ketone peroxides, dialkyl peroxides, diacyl peroxides, peroxyesters (peresters), hydroperoxides, peroxydicarbonates (percarbonates) and peroxyketals. Based on various applications, the organic peroxide market is segmented into paints, coatings and adhesives, construction, consumer goods, construction, cosmetics, automotive and transportation, packaging and paper, plastics and chemicals, electrical and electronics and renewable energy.

Organic Peroxide Market Dynamics:

Increasing demand for renewable raw materials owing to demand for clean and safe environment as well as product development is fuelling the organic peroxide market growth. In addition, growing chemical industry in countries such as China, Indonesia and India is anticipated to bolster the demand for organic peroxide in the next five to six years. Advancements in processing industry are expected to fuel the organic peroxide market growth in the near future. In addition, industralisation is one of the prominent factor leading towards growing demand for paper and textiles, coating adhesives, and plastic and chemical.

Safety, handling and transportation of organic peroxide is a major concern restricting the market growth. However, companies are focused on developing varied packaging options for organic peroxide handling in order to avoid any hazardous while transportation.

Organic Peroxide Market Key players:
Some of the players in the organic peroxides market include Arkema SA, Akzo Nobel N.V., Vanderbilt Chemicals, LLC, Suzhou Hualun Chemical Company Ltd, Akpa Kimya Ambalaj Sanayi Ve Ticaret Ltd STI, Novichem, United Initiators, Pergan GmbH, MPI Chemie BV and Solvay SA. Developing smooth and safe supply chain resulting in less lead times is a key focus area for organic peroxide companies across the globe.

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