LONDON, Feb. 21, 2018 /PRNewswire/ -- Download the full
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The global organic peroxide market is expected to reach
USD 1.20 Billion by 2025, at a CAGR
of 4.3%, according to a report by Grand View Research, Inc.
Rising consumer preference towards designer apparels as well as
expansion of manufacturing facilities to cater to the global demand
for polymers is expected to remain a crucial factor for the
product's growth.
Organic Peroxide finds its major application in industries which
caters to uninterrupted manufacturing and production of textiles,
polymers, and paper & pulp. Shift in global trends that
constitutes development of existing infrastructure in emerging
economies, will act as a major driving force for plastic materials.
China's strong position in
Asia Pacific will continue to
remain in sight, on account of growing industrial complexes and
rising demand for plastic products in international markets that
are driven by low price, and easy availability.
Growing population globally, aided with rapid adaptation of urban
fashion is expected to play a major role in determining the demand
of apparel over the next few years. Emerging economies such as
China, India and Bangladesh are one of the major exporters of
finished textiles on a global scale. The above-mentioned factors,
are anticipated to play a crucial role in increasing demand for
peroxide over the forecast period.
Further key findings from the report suggest:
• Benzoyl peroxide was the dominant product segment and valued at
USD 307.3 Million in 2016 on account
of predominant consumption of the product in textile industry. The
high demand for apparels and household textiles will lead to
substantial demand for organic peroxide.
• Polymer sector is projected to foresee revenue growth at an
estimated CAGR of 4.4% from 2017 to 2025. The growing popularity of
plastic based product, on account of expanding construction
activities and rising household demand in both developed and
emerging economies is expected to surge the requirement for organic
peroxide over the next eight years.
• Organic peroxide in personal care sector accounted for a market
share of USD 152 million in 2016, and
is expected to grow at a CAGR of 3.7% till 2025. Growth of halal
based cosmetics in the Middle East
countries including Saudi Arabia,
Iran, and Jordan as a result of product innovation by
personal hygiene manufacturers is expected to open new markets for
peroxides.
• Textile was the largest application segment, accounting for
28.02% of the overall share in terms of volume in 2016
• North America was the
second-largest market and accounted for 17.69% of the overall
volume in 2016. The region is, however, anticipated to record a
mild decline over the next eight years on account of global shift
of major manufacturing firms towards Asia
Pacific
• Key industry participants include BASF, AkzoNobel, Arkema,
Evonik, and Dow Chemicals.
• In May 2017, AkzoNobel enlarged its
business portfolio by completing an expansion project for Polymer
Chemistry production facility in Los
Reyes, Mexico. The expansion is expected to increase the
company's peroxyester capacity in North
America by 40%.
• In March 2016, United Initiators
(UI) and Wanhua Chemical Group (Wanhua) entered into a joint
venture to form a company named UI Wanhua (Yantai) Peroxide Co.
Ltd. The entire focus of the joint venture is to focus on the
production and sales of organic peroxides, starting with the key
raw material TBHP?70?AQs
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https://www.reportbuyer.com/product/5291764
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