Global Organic Peroxide Market: By Type, Application, Regional Analysis and Forecast 2021-2027

The organic peroxide market is anticipated to exhibit substantial growth by 2027 owing to growing demand for polymers in varied industries worldwide.

Organic peroxide is commonly used as an initiator in the polymerization process to create various types of polymers. Due to their superior mechanical properties, organic peroxide cross-linked polymers are utilized in high-performance demanding sectors, such as automotive, oil & gas, and sports industries.

Organic peroxide's versatility, when combined with plastics, provides novel solutions in the development of renewable energy, particularly solar and wind energy. Subsequently, prominent utilization of organic peroxide as an intermediate has bolstered product adoption across various industry verticals.

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Notably, major industry players have been focusing on expanding their market presence to monetize the mounting product demand, which has improved market dynamics. For instance, in June 2021, Akzo Nobel, a paints & coatings leader, announced the acquisition of Grupo Orbis, a Colombia-based company that specializes in paints and coatings. The deal was expected to help Akzo Nobel expand its business across Central and South America.

In another instance, in May 2021, chemicals giant Arkema revealed its plans to acquire Agiplast, a specialist in high-performance polymer regeneration. With this deal, Arkema aimed to provide customers with a full range of services with regards to materials circularity in order to meet rising product demand. This acquisition was aligned with Arkema's long-term growth strategy as well as the transition to a circular economy. As a result, profitable strategic initiatives adopted by industry leaders have bolstered market penetration in key regions.

The organic peroxide market has been categorized based on product, application, and region. In terms of product, the market has further been bifurcated into ketone peroxide, diacyl peroxides, hydro peroxides, peroxyesters, dialkyl peroxide, percarbonates and others.

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The organic peroxide market from the dialkyl peroxide sub-segment is projected to grow at a CAGR of around 3.9% through the forecast period. Dialkyl peroxide is utilized as initiators in high polymers, vulcanizing agents in elastomers, and efficient crosslinking and viscosity modifiers in polyolefins, which is anticipated to propel segmental expansion in the coming years.

With respect to application, the market has been segregated into polymer, paper & textiles, rubber, cosmetics, healthcare, coatings & adhesives, and others. The cosmetics sub-segment is estimated to amass lucrative gains by 2027, expanding at over 3.6% CAGR through the analysis period. Rising cosmetics production in countries, such as France, Germany, Russia, and Japan, among others, is expected to boost demand for organic peroxide in cosmetic applications in the future.

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