The increasing plastics demand in various end-user sectors is driving the demand for the market.
Benzoyl Peroxide Market Size – USD 998.3 Million in 2019, Growth - CAGR of 4.3%, Trends – High demand from the textile Industry.
The Global Benzoyl Peroxide Market is projected to reach USD 1,413.5 million in 2027. Growing market appetite for designer apparel and expansion of manufacturing equipment to respond to global polymer demand is expected to remain a key factor in the growth of the company.
The demand for Benzoyl Peroxides is increasing due to its wide range of applications in various industries such as polymer, personal care, and pharmaceuticals. The growth of the polymer industry is driving the demand for Benzoyl Peroxides, as they are used as a crosslinking agent and initiator in polymerization processes. In the personal care industry, Benzoyl Peroxides are used as a bleaching agent in hair care products. In the pharmaceutical industry, Benzoyl Peroxides are used as an antiseptic and sterilizing agent.
The Asia-Pacific region is expected to be a major contributor to the growth of the Benzoyl Peroxide market due to the increasing demand from the polymer and personal care industries, as well as the growing population and increasing disposable income. However, the market may face challenges from regulatory restrictions on the use of certain types of Benzoyl Peroxides due to their hazardous nature and potential environmental impacts.
Get a sample of the report https://www.reportsanddata.com/sample-enquiry-form/3429
Top Companies: AkzoNobel N.V., Arkema, United Initiators, PERGAN GmbH, NOF Corporation, Akpa Kimya, Chinasun Specialty chemicals, MPI Chemie B.V., Roma Chemicals, and Vanderbilt chemical, LLC, among others.
Further Key Finding from the Report Suggestion:
- As the primary consumption of the product in the textile industry, benzoyl peroxide was the dominant product category. Substantial demand for Benzoyl Peroxides will result from hyper demand for apparel and home textiles.
- From 2019 to 2027, the polymer industry is expected to expand. The increasing popularity of plastic goods is projected to increase Benzoyl Peroxide demand in the coming years as a result of growing construction activities and household demand in developed and emerging economies.
- The Benzoyl Peroxide is expected to rise by 2027 in the personal care market. As a result of product innovation by individual grooming manufacturers, Halal related cosmetics, are expected to open up new peroxide markets in the countries of the Middle East, including Saudi Arabia, Iran, and Jordan.
- The textile was the most significant product category, with the majority of the total volume share.
- In July 2018, AkzoNobel agreed to buy Polinox, a ketone peroxide producer based in Brazil that uses polymers as curing agents. Polinox labels, labels, client lists, and technical skills are included in its sale, but not production facilities. AkzoNobel says that after the completion of the project, it plans to add peroxide capacity at its site in Esupeva, Brazil, and to move its production. AkzoNobel expanded its peroxide capacity in Asia recently.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
Download Summary: https://www.reportsanddata.com/download-summary-form/3429
The global Benzoyl Peroxide market is segmented into:
Product Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Ketone Peroxide
- Benzoyl Peroxide
Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Personal care
- Paper pulp
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
Request a customization of the report https://www.reportsanddata.com/request-customization-form/3429
Thank you for taking the time to read our article. The report can be tailored to the needs of the client. Please contact us for more details, and our team will tailor the report to your specific requirements.
Browse More Reports:
Offshore Mooring Systems Market https://www.reportsanddata.com/report-detail/offshore-mooring-systems-market
Industrial Wastewater Treatment Market https://www.reportsanddata.com/report-detail/industrial-wastewater-treatment-market
Nonwoven Disposable Gloves Market https://www.reportsanddata.com/report-detail/nonwoven-disposable-gloves-market
Physical Vapor Deposition (PVD) Market https://www.reportsanddata.com/report-detail/physical-vapor-deposition-pvd-market
Peracetic Acid Market https://www.reportsanddata.com/report-detail/peracetic-acid-market
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
LinkedIn | Twitter | Blogs | Insights
Read the innovative blog at https://www.reportsanddata.com/blogs
Check out our upcoming research report at https://www.reportsanddata.com/upcoming-reports