Polymerization Initiator Market is set to emerge at a CAGR of 4.21% over the forecast period 2020-2026. Based on increasing consumption of peroxides across the various end-use sectors which include automotive, electronics & electricals, construction, composites, and chemical sectors, the market growth drives the global Polymerization Initiator market revenues, predicts OG Analysis, 2019.
Further, the penetration of high-performance polymer along with R&D investments boost the polymerization initiator market value for key types (Persulfate, Peroxides, Aliphatic AZO Compounds, and Others) with high demand from the coating, adhesives, and elastomer manufacturers
Accordingly, based on key active species, free radical is forecast to emerge with strong market share driven by consumption of free radical polymerization for thermal decomposition of peroxides or azo compounds.
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Furthermore, the penetration of propylene homopolymer with the potential to offer general-purpose grade with high strength-to-weight ratio drives the market growth and demand for polymerization initiator amidst key applications. Furthermore, adaptation in numerous end-use applications such as packaging, textiles, healthcare, pipes, automotive, and electrical products to increase the market demand for the Polypropylene segment.
Although there are many prospects in the Polymerization Initiator Market growth but this market faces challenges from the ongoing inclination towards recycled and eco-friendly plastics.
The polymerization initiator market emerges with strong market growth opportunities across developing economies
Asia Pacific led the polymerization initiator market share characterized by large number of polymer producers and plastic process machinery plants across China and India. Accordingly, 15788 Plant of major players are present across India with high-end engineering polymers production. Further, in 2018, plastics export from India stood at US$ 3.47 billion out of which exports of raw plastic material stood at US$ 2.62 billion, reveals IBEF.
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Further, increase in consumption of polymer from emerging and prominent zone of aerospace and electronics engineering, general industries, and distinctive packaging sectors trigger long term polymerization initiator market demand across Asian countries.
To capitalize on polymerization initiator market growth, key participants are enhancing product portfolio, acquiring key producers and
Wide adoption of the latest technology and strategic M&A to thrust global polymerization initiator value and size towards growth phase, predicts OG Analysis. The key companies are exploring market growth prospects by entering into acquisitions with other players. For instance, in 2019, United Initiators GmbH acquired Hidrojenperoksit A.S. to be a single plant producer of hydrogen peroxide.
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Further, to capitalize on market growth market participants are enhancing product portfolio. For example, in 2019, Nouryon announced the launch of their Butanox M-50 vanishing red peroxide which is very safe dye solvent. Furthermore, in 2018, AkzoNobel Specialty Chemicals developed a new technology for the production of organic peroxides.
The major key vendors which are contributing to Polymerization Initiator Market growth include BASF, Arkema, AkzoNobel, Mitsubishi Gas Chemical Company, United Initiators, LANXESS, Adeka Corporation, Celanese Corporation, AkkimKimya, and Mpolymerization Initiator Chemie among others.
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