Organic Peroxide Market by Type (Diacyl, Ketone, Percarbonate, Dialkyl, Hydroperoxides, Peroxyketal, Peroxyester), Application (Chemicals & Plastics, Coatings, Adhesives & Elastomers, Paper & Textiles, Detergents), and Region - Global Forecast to 2030
The global organic peroxide market size was valued at USD 1.9 billion in 2023 and is projected to reach USD 2.6 billion by 2030, growing at 4.2% cagr from 2023 to 2030.
Organic peroxides are commonly used in specialty chemicals. They have witnessed significant growth over the past decade, and are being used as accelerators, initiators, cross-linking agents, hardeners, activators, and curing & vulcanization agents in polymer chemistry. Organic peroxides are also used for their bleaching and disinfecting properties. Moreover, some organic peroxides find application as active ingredients in explosives. The increased consumption of organic peroxides in coating, adhesives, and synthetic rubber manufacturing is a major opportunity for various market players. Moreover, the high consumption of organic peroxides in chemicals & plastics applications is another opportunity for market players. Safety issues are the major factor restraining the development of this market as organic peroxides are extremely hazardous materials. Regulations and restrictions on the transportation of organic peroxides are also restraining market growth.
Organic Peroxides Market Size, Dynamics & Ecosystem
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Organic peroxide Market Dynamics
Driver: Increasing demand for organic peroxide from polymer industry
Organic peroxides are the most extensively used material in the polymer industry. Organic peroxides are used for the polymerization of LDPE such as PVC. They are used widely as initiators in free radical polymerization reactions. They are also used in the curing of unsaturated polymer molding resins. Organic peroxides are also used as a cross-linking agent for elastomers. The organic peroxide market has shown promising growth because of the high demand from the industry in the past five years. Polymers are used extensively in almost all end-use sectors, such as automotive, construction, electronic & electrical, and composites.
Restraint: Safety issues restricting import/export
Organic peroxides are considered severe fire and explosion hazardous substances. Some organic peroxides may also be corrosive or toxic and could harm the human body on inhalation, eye/skin contact, swallowing, or exposure. Peroxides are chemically unstable and can quickly decompose, releasing heat when temperature rises. Vapors released by peroxides are flammable and can catch fire easily. Some organic peroxides are highly reactive. They can react explosively if they are exposed to friction or heat or are mixed with unsuited materials. Organic peroxides are also great oxidizing agents, thus making them highly combustible.
Opportunity: Emerging market for organic peroxide
The expanding market for organic peroxides in regions like Asia Pacific, North America, and Europe presents a significant opportunity for industry growth. With increasing industrialization and demand for polymer-based products in these regions, there is a growing need for organic peroxides as initiators in polymerization processes. The Asia Pacific region is witnessing robust economic development and infrastructure projects, further fueling the demand for plastics and composite materials. In North America and Europe, the emphasis on technological advancements and sustainable practices in various industries, including automotive and construction, is driving the adoption of organic peroxides for enhanced polymer manufacturing. This growing market in key global regions provides a favorable landscape for the organic peroxide industry to expand its applications and cater to the rising demand for in diverse sectors.
Challenge: Logistics and storage issues
Organic peroxides pose significant safety risks due to their inherent instability and reactivity. With a composition containing both oxygen and organic matter, these compounds are highly susceptible to combustion, emitting flammable gases or vapors. The primary concerns associated with organic peroxides revolve around the heightened risk of fires and explosions. Their propensity to catch fire easily, burn intensely, and resist extinguishing makes them particularly hazardous. Some varieties may even undergo explosive reactions under elevated temperature or pressure conditions, necessitating refrigeration to prevent spontaneous ignition at room temperature.
ECOSYSTEM
Organic Peroxides Market Segmentation & Geographical Spread
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By Type diacyl peroxides segment to have the highest share in the forecast period.
Diacyl peroxides have the general structure RC (O) OO (O) CR’ wherein R and R’ mostly represent alkyl and/or aryl groups. These are thermally unstable compounds, which start decomposing at low temperatures to form free radicals. They are used as free radical initiators in the polymerization process and for the polymerization of PVC. These peroxides also act as initiators for vinyl monomer polymerizations.
By application, the chemicals and plastics segment led the market in 2022.
In 2022, the chemicals and plastics segment stood out as the largest application of organic peroxide, commanding the largest share of the market. Organic peroxides are commonly used in the chemical industry as intermediates or as catalysts in numerous reactions. They are effective initiators, accelerators, and curing agents, and are used for free radical polymerization initiators in reactions and for the polymerization of LDPE and PVC. Thus, organic peroxides play a crucial role in the chemicals & plastics applications.
Asia Pacific to register the highest CAGR during the forecast period.
The Asia Pacific region accounted for the largest share in 2022, in terms of value, followed by North America and Europe. Asia Pacific is a major manufacturing hub for various polymers, including polyethylene, polypropylene, and rubber. Organic peroxides play a crucial role as initiators in polymer production, leading to increased demand. China is projected to be the fastest-growing market across the globe during the forecast period.
Key Market Players
The Organic peroxide market comprises key manufacturers such as Nouryon Chemical Holding B.V. (Netherlands), Arkema SA (France), NOF Corporation (Japan), United Initiators GmbH (Germany), and PERGAN GmbH (Germany), and others. Expansions, collaborations, and deals were some of the major strategies adopted by these key players to enhance their positions in the organic peroxide market. A major focus was given to the acquisitions and expansions.
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- Competitor Analysis with Interactive dashboard
- Latest News, Updates & Trend analysis
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Report Metric |
Details |
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Market size available for years |
2021–2030 |
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Base year considered |
2022 |
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Forecast period |
2023–2030 |
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Forecast units |
Value (USD millions) and Volume (tons) |
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Segments Covered |
Type, Application, and Region |
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Geographies covered |
North America, Asia Pacific, Europe, South America, and Middle East & Africa. |
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Companies covered |
Arkema SA (France), NOF Corporation (Japan), Nouryon Chemical Holding B.V. (Netherlands), United Initiators GmbH (Germany), and PERGAN GmbH (Germany) are the top manufacturers covered in the organic peroxide market. |
This research report categorizes the global organic peroxide market based on type, application, and region.
On the basis of Type:
- Diacyl Peroxides
- Ketone Peroxides
- Percarbonates
- Dialkyl Peroxides
- Hydro-Peroxides
- Peroxy Ketals
- Peroxyesters
On the basis of the Application:
- Chemicals & Plastics
- Coatings, Adhesives, & Elastomers
- Paper & Textiles
- Detergents
- Healthcare & Personal Care
- Others
On the basis of Region:
- North America
- Asia Pacific
- Europe
- South America
- Middle East & Africa
The market has been further analyzed for the key countries in each of these regions.
Recent Developments
- In Apr 2023, Nouryon Chemical Holding B.V. announced an investment in its facility in Ningbo, China, to substantially enhance the capacity of organic peroxide products.
- In September 2023, Arkema SA announced a two-and-a-half-fold increase in its organic peroxide production capacities at its Changshu site in China.
- In July 2022, United Initiators GmbH announced that it had completed construction and started operating its 25-kilo tons/annum TBHP-TBA facility in China.
- In December 2021, Nouryon Chemical Holding B.V. initiated full-scale production at its innovative organic peroxide site in Tianjin, China, catering to growing demand from packaging, paints and coatings, and construction customers in the region.
Frequently Asked Questions (FAQ):
What are the major drivers driving the growth of the organic peroxide market?
The major driver influencing the growth of the organic peroxide market is increasing demand from the polymer industry.
What are the major challenges in the organic peroxide market?
The major challenge in the organic peroxide market is logistics and storage issues.
What are the restraining factors in the organic peroxide market?
The major restraining factor is the safety issues restraining import/export.
What is the key opportunity in the organic peroxide market?
Multifunctionality of organic peroxide is a major opportunity in the organic peroxide market.
Who are the key players in the global organic peroxide market?
The key players operating in the organic peroxide market are Arkema SA (France), Nouryon Chemical Holding B.V. (Netherlands), United Initiators GmbH (Germany), NOF Corporation (Japan), and PERGAN GmbH (Germany) amongst others. .
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Extensive secondary sources, directories, and databases such as Hoovers, Bloomberg BusinessWeek, Factiva, and OneSource have been used to identify and collect information for this technical, market-oriented, and commercial study of the organic peroxide market. In-depth interviews were conducted with various primary respondents, which included key industry participants, subject matter experts (SMEs), C-level executives of key industry players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and to assess prospects.
Secondary Research
In the secondary research process, various secondary sources have been referred to for identifying and collecting information for this study. Secondary sources included annual reports, press releases, and investor presentations of companies; white papers; publications from recognized websites; and databases. Secondary research has mainly been used to obtain key information about the supply chain of the industry, the total pool of key players, market classification & segmentation according to the industry trends to the bottom-most level, regional markets, and key developments from both market- and technology-oriented perspectives.
The market size of organic peroxide has been estimated based on secondary data available through paid and unpaid sources and by analyzing the product portfolios of key companies. This data has been further validated through various primary sources.
Primary Research
The organic peroxide market comprises various stakeholders in the supply chain and includes suppliers, manufacturers, and end-users. Various primary sources from the supply and demand sides of the organic peroxide market have been interviewed to obtain qualitative and quantitative information. Primary participants from the supply side include key opinion leaders, executives, vice presidents, and CEOs of companies in the market. Primary sources from the demand side include experts from end-use industries, associations and institutions involved in the market, and key opinion leaders.
Following is the breakdown of primary respondents
Notes: *Others include sales, marketing, and product managers.
Tier 1: >USD 5 Billion; Tier 2: USD 1 Billion– USD 5 Billion; and Tier 3: <USD 1 Billion.
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Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the global organic peroxide market. These approaches were also used extensively to estimate the size of various dependent sub-segments in the market. The research methodology used to estimate the market size includes the following details:
- The key players in the industry and markets have been identified through extensive secondary research.
- The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
- All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
- The research included the study of reports, reviews, and newsletters of top market players, along with extensive interviews for opinions from leaders such as directors and marketing executives.
Top-Down Approach
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Bottom-Up Approach
Data Triangulation
After arriving at the overall market size, the total market has been split into several segments. Where applicable, the data triangulation procedure has been employed to complete the market estimation process and arrive at the exact statistics for all segments. The data has been triangulated by studying various factors and trends from both the demand and supply sides. The market size has been validated using both the top-down and bottom-up approaches.
Market Definition
As per The Australian Dangerous Goods Code, Organic peroxide are chemical compound having the bivalent -O-O- structure. These compounds can be considered as derivatives of hydrogen peroxide where one or both hydrogen atoms have been replaced by organic radicals. These substances are thermally unstable, prone to exothermic self-accelerating decomposition. Additionally, they may exhibit hazardous properties, including explosive decomposition, rapid combustion, sensitivity to impact or friction, dangerous reactivity with other substances, and the potential to cause damage to the eyes. Due to these characteristics, careful handling and storage measures are crucial to prevent accidents and ensure safety.
Key stakeholders
- Raw material suppliers and producers
- Organic peroxide manufacturers, dealers, and suppliers
- Regulatory bodies
- Organic peroxide distributors/suppliers
- Local government
- Industry associations
- Investment banks
- Consulting companies/Consultants in Organic peroxide Sectors
- Raw material providers
Report Objectives
- To estimate and forecast the organic peroxide market, in terms of value and volume
- To elaborate drivers, restraints, opportunities, and challenges in the market
- To define, describe, and forecast the market size, based on type, application, and region
- To forecast the market size along with segments and submarkets, in key regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America with their key countries
- To analyze growth opportunities in the market for stakeholders and provide details on the competitive landscape for market leaders
- To strategically profile key players and comprehensively analyze their market shares and core competencies
- To analyze competitive developments, such as merger & acquisition, expansion & investment, agreement, partnership & joint venture, and new product development in the organic peroxide market
Available Customizations:
Along with the given market data, MarketsandMarkets offers customizations as per the specific needs of the companies. The following customization options are available for the report:
Product Analysis:
- Product Matrix, which gives a detailed comparison of the product portfolio of each company
Regional Analysis:
- Further breakdown of the Rest of the Asia Pacific, organic peroxide market
- Further breakdown of the Rest of Europe, organic peroxide market
- Further breakdown of the Rest of South America, organic peroxide market
- Further breakdown of the Rest of Middle East & Africa, organic peroxide market
Company Information:
- Detailed analysis and profiling of additional market players (up to 5)
Growth opportunities and latent adjacency in Organic Peroxide Market
Require suppliers of raw material for chemical acids and fertiliser to Iran.
Information on the use in plastics, PE and PP