An organic compound that is having two oxygen atoms together is known as an organic peroxide. Organic peroxide undergoes self-accelerating decomposition and thus, result in rapid burning and explosive decomposition. Organic peroxide is available in various forms including solid, pastes or liquids. Few materials such as mineral spirits (odourless in nature), water and some of the phthalate esters do not react with organic peroxide. These materials are used to dilute organic peroxide. Diluted organic peroxides offer stability when exposed to physical shock or heat, as compared to the undiluted organic peroxides. Moreover, diluted organic peroxides are safer to handle, produce and use for further applications. In addition, organic peroxide is used as curing agent, high polymer initiator, cross-linking agent, accelerator, catalyst, hardener, activator and promoter. However, usage of activator and accelerator needs to be checked as these substances might result in accident, when mixed with organic peroxide.
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Organic peroxide application as a chemical in various industries has increased significantly in the recent past. Globally, companies are engaged in development of efficient organic peroxide solutions catering to the varied needs of consumers across different applications of organic peroxide. For instance, Arkema Inc. offers a range of organic peroxide under Luperox Solar to ensure fast crosslinking of encapsulating resins. Rubber and plastic industry are among the top users of organic peroxide. Owing to increasing research and development leading towards product development, the organic peroxide market is expected to witness significant growth in the next five to six years.
Organic Peroxide Market Segmentation:
Organic peroxide market segmentation includes organic peroxide classes, application and region. On the basis of organic peroxide classes, the segmentation includes ketone peroxides, dialkyl peroxides, diacyl peroxides, peroxyesters (peresters), hydroperoxides, peroxydicarbonates (percarbonates) and peroxyketals. Based on various applications, the organic peroxide market is segmented into paints, coatings and adhesives, construction, consumer goods, construction, cosmetics, automotive and transportation, packaging and paper, plastics and chemicals, electrical and electronics and renewable energy.
Geographically, organic peroxides market is segmented into Western Europe, North America, Eastern Europe, Asia Pacific excluding Japan, Japan, Latin America, and Middle East and Africa (MEA). Asia Pacific excluding Japan is expected to witness significant growth in the near future. This is attributed to rising demand for organic peroxide in packaging and paper along with chemical industry. Also, China is anticipated to account for maximum demand for organic peroxide in Asia Pacific region. Rising demand for organic peroxides in applications such as adhesives, coatings and plastics primarily in North America is bolstering the market growth, which is expected to be dominant over the next five to six years.
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Organic Peroxide Market Dynamics:
Increasing demand for renewable raw materials owing to demand for clean and safe environment as well as product development is fuelling the organic peroxide market growth. In addition, growing chemical industry in countries such as China, Indonesia and India is anticipated to bolster the demand for organic peroxide in the next five to six years. Advancements in processing industry are expected to fuel the organic peroxide market growth in the near future. In addition, industralisation is one of the prominent factor leading towards growing demand for paper and textiles, coating adhesives, and plastic and chemical.
Safety, handling and transportation of organic peroxide is a major concern restricting the market growth. However, companies are focused on developing varied packaging options for organic peroxide handling in order to avoid any hazardous while transportation.
Organic Peroxide Market Key players:
Some of the players in the organic peroxides market include Arkema SA, Akzo Nobel N.V., Vanderbilt Chemicals, LLC, Suzhou Hualun Chemical Company Ltd, Akpa Kimya Ambalaj Sanayi Ve Ticaret Ltd STI, Novichem, United Initiators, Pergan GmbH, MPI Chemie BV and Solvay SA. Developing smooth and safe supply chain resulting in less lead times is a key focus area for organic peroxide companies across the globe.