Organic peroxides are organic compounds containing the peroxide functional group (ROOR’). If the R’ is hydrogen, the compounds are called organic hydroperoxides. Peresters have general structure RC(O)OOR. The O−O bond easily breaks, producing free radicals of the form RO•. Thus, organic peroxides are useful as initiators for some types of polymerisation, such as the epoxy resins used in glass-reinforced plastics.
From a global perspective, Nouryon, Arkema, United Initiators, Pergan GmbH and Chinasun Specialty Products are the top five in this industry, accounting for 85% of the market share, and Nouryon is the global market leader, accounting for 34% of the market share. The production bases of Nouryon, Arkema and United Initiators are all over the world, and these three companies are in the first echelon of the global organic peroxide industry. Nouryon and Chinasun Specialty Products are the market leaders in China, occupying a major market share in China.
Diacyl peroxide is mainly used as a free radical initiator in the PVC and vinyl monomer polymerization process. Furthermore, it is used for cross-linking of thermoplastics and elastomers and also used as a curing agent for thermoset resins. Some diacyl peroxide substances are also used as active pharmaceutical ingredients in pharmaceutical sector which are expected to drive the market growth rate.
The Asia Pacific is likely to emerge as a viable growth ground for the organic peroxide industry due to the high demand for plastic products in the region. The emergence of China and India as one the major product manufacturing destinations is expected to propel the demand for organic peroxides over the projected timeframe.
Organic peroxides are used to launch the polymerization process, which results in plastic polymers. They are used in the production of plastics such as polystyrene and polyvinyl chloride, as well as composite materials such as fibreglass. There are hundreds of different organic peroxides, each with specific properties and applications that allow them to manufacture a wide variety of polymers with varying properties.
Global Organic Peroxide Initiator market size was valued at US$ 1,763.80 million in 2021 and is forecast to a readjusted size of USD 2,203.76 million by 2028 with a CAGR of 2.06% during review period. PVC Polymerization occupied for 27.49% of the Organic Peroxide Initiator global market in 2021, and it is projected to value USD 606.14 million by 2028, growing at a 2.02% CAGR in next six years. While Diacyl Peroxide segment is altered to a 1.75% CAGR between 2022 and 2028.
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