CHICAGO, Sept. 5, 2019 /PRNewswire/ -- According to the new market research report "Polymerization Initiator Market by Type (Persulfate, Peroxides, Azo Compounds), Active Species (Free-radical, Cationic, Anionic), Application (Polyethylene, Polypropylene, PVC, Polystyrene, ABS), and Region - Global Forecast to 2024",published by MarketsandMarkets™, the Polymerization Initiator Market size is estimated to be USD 3.4 billion in 2019 and projected to reach USD 4.2 billion by 2024, at a CAGR of 4.3%. The growing polymer production due to increasing demand from various end-use industries such as food processing, automotive, and building & construction is expected to drive the market.
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Peroxides is estimated to be the larger type segment of the polymerization initiator market.
The organic peroxide is used as an initiator for the radical polymerization process of monomers. These compounds can be divided further into diacyl peroxides, hydroperoxides, dialkyl peroxides, peroxy ketals, and peroxy (di) carbonates. Organic peroxides are used extensively in the polymer industry. It is used as a polymerization initiator for manufacturing polyester, acrylic resins and low-density polyethylene such as PVC because it has excellent oxidizing properties.
The demand for organic peroxides is driven mainly by the growing demand from the coating, adhesives, and elastomer manufacturers. The increasing consumption of these compounds in the various end-use sectors such as automotive, electronics & electricals, construction, composites, and chemicals & plastics industry is another important factor for the high demand of organic peroxides
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The free radical segment in the polymerization initiator is expected to register the highest CAGR during the forecast period.
Radical polymerization usually needs an initiator to produce the first radical and start the chain of addition reactions. The most common initiation reaction in free radical polymerization is the thermal decomposition of molecules that contain weak bonds such as peroxides or azo compounds. The radical formed then reacts with the monomers. After the reaction is initiated, the chain will grow by the repeated additions of monomer molecules with the immediate formation of a new radical site. This propagation reaction is swift, so very long polymer chains will be formed in the initial stage of the reaction.
APAC accounts for the largest share in terms of the value of the polymerization initiator market
APAC was estimated to account for the largest share of the polymerization initiator market in 2018. The region has emerged as the largest consumer of these initiators owing to the increasing production of polymers in China, India, Japan, and Malaysia, among others. The growing need for polymer from various end-use industries, especially packaging, is driving the market in the region. Hence, it is the largest as well as the fastest-growing region in the polymerization initiator market.
The leading players in the Polymerization Initiator Market are BASF (Germany), Arkema (France), AkzoNobel (Netherlands), Celanese (US), United Initiators (Germany), LANXESS (Germany), and Adeka Corporation (Japan). These players have adopted the strategies of expansion, and new product development, to increase their product offerings and expand their geographic presence.
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