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

NOIDA, UTTAR PARDESH, INDIA, December 29, 2023 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the organic peroxide market is projected to grow at a CAGR of 5.56%, between 2021 and 2028.

One of the key growth drivers to propel the organic peroxide market is the increasing usage in the packaging industry. The demand for packaging films has been shown to have increased for a variety of products such as bakery goods, frozen food bags, snacks and candy, and poultry packing. As per The Association for Packaging and Processing Technologies (PMMI) report, the market for packaging machinery has been worth 41.4 billion in 2018 and is expected to grow at a CAGR of 4.1% till 2024. It has also been proven by the Flexible Packaging Association that the use of refill subscription models that utilise plastic pouches, such as Splosh, cut plastic waste by 90% and are returnable to the company for upcycling processes. As such, the organic peroxide market is fuelled for stable growth during the forecasted period.

There are many product launches and developments that are taking place in the organic peroxide market. For instance, as of April 2023, Nouryon, a leading global speciality chemicals producer, has announced that they were going to double the organic peroxide capacity and will produce an annual capacity of 6,000 tons each for Perkadox 14 and Trigonox 101 organic peroxides by mid-2024. These essential products provided the necessary support to penetrate the regional and global demand for a variety of applications such as non-woven textiles used in health care, hygiene products, and face masks. Another instance of product development in the market was in October 2022, when Weber & Schaer, a leading raw materials producer known for their rubber, plastics and adhesives globally, announced the distribution of ARKEMA’s Luperox and ReHc organic peroxide brands into the northern, central and eastern European countries by 01.01.2023. This will provide the necessary growth of organic peroxide products in the European region and fuel the increase of growth of the overall market.

Access sample report or view details: https://www.knowledge-sourcing.com/report/organic-peroxide-market

The organic peroxide market, based on type, is categorized into eight types- diacyl peroxides, ketone peroxides, percarbonates, benzoyl peroxide, dialkyl peroxides, hydro-peroxides, peroxyesters, and others. Organic Peroxides can be defined as a liquid or solid organic chemical that contains a bivalent structure and has the following properties which include liability to explosive decomposition, burning rapidly, sensitivity to impact or friction, and reacting dangerously to other substances.

The organic peroxide market, based on application, is categorized into six types- polymers and rubber, coatings and adhesives, paper and textile, cosmetics, healthcare, and others. The free radicals from the organic peroxide formulations can be used to modify polymers, which helps them flow more easily in the moulding operations used to form parts such as caps for cosmetics and food containers. The rubber and plastics industries are the key users of organic peroxides, which they use for polymer manufacture and modification to enhance or add characteristics like thermal stability.

Asia Pacific is expected to witness the most growth in the organic peroxide market during the forecasted period. The major factor that leads to the growth of the market in the Asia Pacific region is the dominant position of Asia Pacific in the packaging machinery industry. As per the PMMI report, it has been shown that Asia Pacific accounted for 36.3% of the total market in 2018 and is expected to increase to US$19.6 billion by 2024. The increasing growth of the packaging industry can fuel the growth of the organic peroxide market. Another factor that can affect the growth of the organic peroxide market is the strong demand for plastic goods, which is expected to show positive growth during the forecasted period.

The research includes several key players from the organic peroxide market, such as Akzo Nobel N.V., Arkema, Novichem, United Initiators, NOF Corporation, Pergan GmbH, Chinasun Specialty Chemicals Co., Ltd, Akpa Kimya Ambalaj Sanayi Ticaret Ltd., MPI Chemie B.V., and Vanderbilts Chemicals LLC.

The market analytics report segments the organic peroxide market using the following criteria:

• By Type

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

• By Application

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

• By Geography

o North America

• United States
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• United Kingdom
• Germany
• France
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Israel
• Others

o Asia Pacific

• China
• Japan
• India
• South Korea
• Indonesia
• Thailand
• Others

Companies Mentioned:

• Akzo Nobel N.V.
• Arkema
• United Initiators
• Pergan GmbH
• NOF Corporation
• Novichem
• Chinasun Specialty Chemicals Co., Ltd
• MPI Chemie B.V.
• Akpa Kimya Ambalaj Sanayi Ticaret Ltd.
• Vanderbilts Chemicals LLC.

Explore More Reports:

• Organic Acids Market: https://www.knowledge-sourcing.com/report/organic-acids-market
• Calcium Oxide Market: https://www.knowledge-sourcing.com/report/calcium-oxide-market
• Organic Binder Market: https://www.knowledge-sourcing.com/report/organic-binder-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
email us here
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