The emerging launches of novel polymerization initiator products are expected to provide opportunities for the market growth
The global polymerization initiator market size is projected to reach nearly USD 5.0 billion by 2028. Also, it is projected to gather a CAGR of above 4% over the forecast years 2018-2028. Rapid industrialization around the globe is projected to boost the demand along with the growing need of end products from the consumers. Moreover, the growing need for products in aerospace, plastics, and aircraft industries towards the advantages of polymerization initiator is projected to boost the demand over the forecast period. The rapid growth of the commercial sector across the emerging economies, including China, Indonesia, South Korea, and India, is expected to fuel demand in the industry.
The report also outlines the various characteristics of the global polymerization initiator industry by assessing the market from value chain analysis. Moreover, the polymerization initiator market report comprises various qualitative parts of the polymerization initiator industry in market restraints, essential industry drivers, and opportunities.
Peroxides product, in terms of volume, is expected to report the largest share in 2019 and is expected to continue the trend over the forecast period of 2020 to 2028. The radical polymerization process uses organic peroxide as an initiator to complete the monomeric process. Bio-peroxides are commonly used in the polymer market. The products are used in the production of acrylic resins, polyester, low-density polyethylene such as PVC as a polymerization initiator having sufficient oxidizing properties.
The market for organic peroxides is driven primarily by the rising demand from the manufacturers of packaging, adhesives, and elastomer. Another significant reason for the high demand for organic peroxides is the growing use of these compounds in the various end-use sectors such as automobile, manufacturing, composites, chemical & plastics, and electronics & electrical industries.
The Asia-Pacific region is projected to accumulate the highest growth during the forecast years. The Asia Pacific market for polymerization initiators is expected to contribute significant market revenue shares, which can be attributed to increased adoption of new technologies and growing manufacturing activities in the industrial sector. Owing to technological growth and changing economic conditions, APAC is a growing and lucrative sector for technical products of insulation. The region makes up the major share of the world population, resulting in the development of the automotive, mining, and refining industries. Moreover, the growing adoption of the new technology has increased the North American demand for polymerization initiators and is expected to experience substantial growth over the forecast period.
The major players of the global polymerization initiator market are Arkema, AkzoNobel, BASF, and Celanese. Moreover, the market comprises several other prominent players in the polymerization initiator market as LANXESS, Adeka Corporation, and United Initiators. The polymerization initiator market comprises well established local as well as global players. In addition to this, the previously recognized market players are coming up with new and advanced strategic solutions and services to stay competitive in the global market.
Segment Overview of Global Polymerization Initiator Market
Type Overview, 2018-2028 (USD Million, Kilo Tons)
- Azo compounds
Application Overview, 2018-2028 (USD Million, Kilo Tons)
- Polyvinyl Chloride
- ABS (Acrylonitrile Butadiene Styrene)
Active Species Overview, 2018-2028 (USD Million, Kilo Tons)
Regional Overview, 2018-2028 (USD Million, Kilo Tons)
- Rest of Europ
- Rest of Asia-Pacifi
Middle East and Africa
- South Africa
- Rest of Middle East and Afric
- Rest of South America