Organic Peroxide Market - Forecasts from 2023 to 2028

The organic peroxide market is estimated to grow at a CAGR of 5.56% during the forecast period.

The expanding use of organic peroxides in the rubber and plastics sectors is one of the major factors propelling the global market for organic peroxides. These organic peroxide compounds offer unique features that make them perfect for usage in a variety of end-user applications, including coatings and adhesives, paper and textiles, detergents, polymers and rubber, personal care, and other applications. As a result of its employment as a free radical activator in the production of PVC and vinyl monomer, "diacyl peroxide" is the type segment with the fastest growth rate. Plastics and other polymeric materials are produced in large quantities using organic peroxides.

Rising demand for ketone peroxide

The growing need for coatings and adhesives is one of the main factors driving the growth of the organic peroxide industry. One of the most common applications for organic peroxides is coating. The synthesis of coating resins and the use of organic peroxides as curing agents for coatings make good use of their advantages, such as the production of more polymer chains with lower molecular weight. A greater degree of control over molecular weight and viscosity is possible due to the more selective nature of the generated radicals, which also leads to less hydrogen abstraction which will increase the organic peroxide market share.

Rising use of benzoyl peroxide

Due to its antibacterial, irritating, keratolytic, comedolytic, and anti-inflammatory properties, benzoyl peroxide is one of the most popular and commonly used organic peroxides. It is frequently used in cosmetics and personal care products for the treatment of acne, hair bleaching, and teeth whitening. It is made up of two benzoyl groups joined by a peroxide bond. Benzoyl peroxide breaks down into benzoic acid and oxygen when it comes into contact with the skin. Because of this oxygen release, it works well as a disinfectant for burns and as a dermatological medication to cure acne which increases the organic peroxide market share.

Rising demand for coatings and adhesives

Rubber hoses, tires, tubes, and gaskets are made in the automotive industry using zinc oxide. Because of the expanding applications, zinc oxide will continue to dominate the global market for organic peroxide over the forecast period. Due to the rising demand for zinc compounds in paints and varnishes, the organic peroxide market size is expanding. The increasing automotive industry is also helping the market grow favourably because it has raised the need for organic peroxide used in belts, radial tires, paints, and coatings.

High demand for polymer production

The organic peroxide market is rising due to the increase in the manufacture of different polymers, which will increase the need for the product during the polymerization process. Over the course of the forecast period, it is anticipated that the demand for ready-made garments would increase along with paper's use in a growing number of industrial sectors. Additionally, there is a growing need for organic peroxide in this application because of rising garment spending and rising sales of pulp and paper. The use of organic peroxides has increased due to the automobile industry's growing use of rubber.

Increasing use in the packaging industry

The demand for packaging films has increased recently for a variety of products, including bakery goods, dairy products, snacks and candy, frozen food bags, and poultry packing. According to a PMMI survey, which was conducted by the Association for Packaging and Processing Technologies, the global packaging market would grow from USD 36.8 billion in 2016 to USD 42.2 billion by 2021. Additionally, there is a growing demand for flexible packaging, which is made of plastics like polypropylene. The Flexible Packaging Association (FPA) (US) claims that flexible packaging reduces content waste by 50-90%, saving ten times as much money as other types of packaging and enabling higher product yields. As a result, it is predicted that the market would grow throughout the forecast period.

Asia Pacific is projected to dominate the organic peroxide market

During the projected period, the Asia Pacific region is anticipated to lead the organic peroxide market. The strong demand for plastic goods in the Asia Pacific is projected to make the region a promising growth market for the organic peroxide sector. Over the anticipated timeframe, it is anticipated that the rise of China and India as important locations for the manufacturing of consumer goods will fuel demand for organic peroxides. The booming personal care sector is boosting the revenue of the organic peroxide business, which is supported by expanding disposable income and living standards. Additionally, the region's expanding construction industry has raised demand for paints and coatings, which has helped the local market expand.

Storage, travel, or handling of organic peroxides are difficult.

Fire and explosion are the main restraints of the organic peroxide market. Organic peroxides are highly corrosive and poisonous. Additionally, potent oxidizers are organic peroxides. When contaminated with the majority of organic peroxides, combustible materials can deflagrate, or quickly catch fire and burn ferociously. For typical organic peroxide compositions, the NFPA developed a risk classification system. The standard transportation and storage containers for these formulations, which have been approved by Transport Canada or the US Department of Transportation (DOT), are classified according to the NFPA classification system, which describes the threats of fire and explosion.

Market product launches

• In May 2023, Nouryon announced plans to "significantly" increase organic peroxide manufacturing at its Ningbo, China facility. The Dutch manufacturer of specialized chemicals will boost its capacity by the middle of 2024.
• In October 2022, Weber & Schaer GmbH & Co. KG began distributing ARKEMA's Luperox® and ReHc® organic peroxide products in select northern, central, and eastern European nations.
• In July 2022, the new TBHP-TBA factory in Huaibei, Anhui Province, China, with a capacity of 25 tons/a was finished by United Initiators. The new plant is the organization's first move towards producing organic peroxides for use downstream. Through expansion, the company has improved both its product offering and its presence.

Segmentation:

By Type

• Diacyl Peroxides
• Ketone Peroxides
• Percarbonates
• Benzoyl Peroxide
• Dialkyl Peroxides
• Hydro-Peroxides
• Peroxyesters
• Others

By Application

• Polymers and Rubber
• Coatings and Adhesives
• Paper and Textile
• Cosmetics
• Healthcare
• Others

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• China
• Japan
• India
• South Korea
• Indonesia
• Thailand
• Others