The global dicumyl peroxide market was worth more than USD xx billion in revenue in 2018 and is expected to cross USD xx billion in 2023, growing at a healthy CAGR of over xx% during the forecast period.
Dicumyl peroxide is a pale yellow to white granular solid aromatic peroxide. It is produced from cumene hydroperoxide and cumene alcohol in the presence of a mineral acid catalyst. It is a major additive used in the production of various elastomers and polymers, where it acts as a crosslinking agent. Dicumyl peroxide grades include from low purity grade (<40%) to high purity grade (≤99%).
Dicumyl peroxide has additional applications that include as flame retardant synergists, as vulcanizing agent and curing agent.
Rising demand for elastomers and polymers from various industries such as tire manufacturing, construction and others are likely to drive the dicumyl peroxide market. As dicumyl peroxide is a primary additive for elastomers and polymers, demand for these is expected to fuel the growth of this market. Demand for elastomers and polymers is increasing due rise in demand from construction, tire manufacturing and other industries, which is in turn supported by the growing population and extra income in developing countries.
Drivers and Restraints of Dicumyl Peroxide Market
Growing investments in downstream industries in regions like the Asia, Americas and the Middle East are likely to offer tremendous possibilities for dicumyl peroxide market in the future. As a result of accessibility to raw material, multinational businesses are investing in resource-rich regions to be able to limit the overall production cost.
Dicumyl peroxide is exposed to the probability of volatility in supply and price of cumene. Dicumyl peroxide has an adverse effect on environment and is prone to stringent regulations. Existing and future regulations concerning the use of dicumyl peroxide in end products are likely to challenge the market growth.
Dicumyl Peroxide Market by Region
Asia was the largest consumer of dicumyl peroxide and its derivatives and this pattern is anticipated to continue to be identical over the following few years. Consumption in Asia is showing upward trend because of increase in economic activity in China and India. China, Japan and South Korea were the largest consumers of dicumyl peroxide in this region, whereas India is likely to grow at a higher pace. Growing demand from tire manufacturing, construction and other industries will drive dicumyl peroxide market in Asia. Consumption of dicumyl peroxide in rest of the world was minimal however it is likely to grow at a reasonable rate next to Asia. With major production capacities in Asia and the Middle East, the region is likely to grow in terms of global supply capability. North America is likely to grow at a significant rate due to demand from tire manufacturing and construction industry. Demand from Europe was low relatively and is likely to stay same in the next few years and will continue focusing on exporting to Asia.
Top players in this market include Arkema Group, Nouryon, TCI Chemicals, Taicang Plastic Additives Factory Co., Dongsung Corporation, PERGAN GmbH, Sundow Polymers Co., Ltd, Greenchemicals SpA, Ltd., Shandong Rui Huang Chemical Co., Ltd., Sinopec Shanghai Gaoqiao Petrochemical Corporation, Monomer-Polymer & Dajac Laboratories Inc. and Shandong Rui Huang Chemical Co., Ltd among others.
The report covers exhaustive analysis on:
- Global Market Segments
- Global Market Size
- Supply & Demand
- Global Market Competitive Landscape
- Production Technology
- Global Market Value Chain
Regional analysis includes:
- Middle-East and Africa
- In depth summary of parent market
- Altering market characteristics in the industry
- Detailed market segmentation
- Historical and forecast market size in terms of volume and value
- Current industry developments
- Competitive landscape
- Strategies of key players and products available
- Potential and niche segments, regions showing promising growth