Organic Peroxide Market–Market Overview
As per the analysis of MRFR, some of the prominent market forces, factors and trends that are favoring growth of the Global Organic Peroxides Market are rapidly growing industrialization, surging demand for the high-quality of plastics & rubber, and steady expansion of paper & textile industry. Additionally, expanding application scope of Organic Peroxide in different types of coatings mingled with increasing automotive production and global sale is anticipated to boost demand for the Organic Peroxide throughout the assessment period. Moreover, continuous growth of building & construction activities along with rising adhesive usage derived from Organic Peroxide are projected to fuel growth of the market during the forecast period of 2017-2023. Furthermore, increasing per capita disposable income in developing countries along with rising use of personal care products is estimated to drive the market growth over the estimated period. The increasing use of organic peroxide as a catalyst in the manufacturing commodities for detergent, packaging, and personal care is estimated to propel the growth of the market over the assessment period.
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Organic peroxide Market- Competitive Landscape
The Global Organic Peroxide Market is a potentially significant market, which is majorly driven by the rapid growth of the global building & construction industry, along with the growing automotive sector on the backdrop of surging global demand for the passenger cars and light commercial vehicles. In addition to this, the paper & pulp industry is also one of the major consumers of the organic peroxide. The market comprised of significant number of leading market players, yet the market share is mainly dominated by the top four companies namely, United Initiators, Arkema S.A., Akzonobel N.V., and NOF Corporation are the substantial manufacturers in this market. Almost all of these market participants are heavily focusing on adopting the business tactics such as product launch, launch of new facility, and capacity expansion to further strengthen their market position and also earn sizeable revenue.
Industry/ Innovation/ Related News:
January 17, 2018- A Dutch multinational company, Akzo Nobel N.V., which engages in development and supply of specialty chemicals and performance coatings, has launched a new organic peroxide facility in Mexico. The investment in this organic peroxide expansion was valued at nearly USD 13.45 million. According to the company, this new facility will be engaged in manufacturing Perkadox CH-50 organic peroxide, which is primarily used in thermoset resins, in which Akzo Nobel is the market leader. This is expected to fetch considerable revenue for the company in coming years.
March 27, 2018- The Brazil based largest peroxide and mould release waxes manufacturer in Latin America, Polinox, has recently announced price rise of its organic peroxide products, by 9%. According to company the increase in price was necessary to be raised on the backdrop of rising prices of required raw materials, such as methyl ethyl ketone.
October 13, 2017– The Netherlands based specialty chemicals and performance coatings manufacturer and supplier Akzo Nobel N.V., has doubled its organic peroxide capacity at Ningbo in China. According to the company, the process is most likely to be operationalized by the end of the third quarter of 2018. This site of Akzo Nobel in China engages in production of dicumyl peroxide (DCP), an organic peroxide, which is used as a crosslinking agent in the manufacture of polymers. Earlier to this the capacity of this facility was increased by 40% in August last year and this development is set to double the capacity of 38,000 tons per year.
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