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″, 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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Polymerization initiators are a source of any chemical species that are used in polymerization reaction initiator that react with a monomer to form an intermediate compound capable of linking successively with a large number of other monomers into a polymeric compound. These initiators have active species present in their chemical structures, and these active species are generated by external stimuli such as heat or irradiation. These initiators are employed depending upon the type of monomers, the reaction conditions, purpose, and use of the polymers. The rising demand from end-use industries such as automotive and packaging will lead to an increase in the demand for polymer, which will drive the market for polymerization initiator. MarketsandMarkets expects the global polymerization initiator market size to grow from USD 3.4 billion in 2019 to USD 4.2 billion by 2024, at a compound annual growth rate (CAGR) of 4.3%.
The growth of polymers is attributed to the increasing demand for polymerization initiator from several countries, including China, the US, and Germany. Increasing demand from various end-use industries such as construction, automotive, and packaging will drive the market for polymerization initiator. Automotive manufacturers have to use lighter material to reduce the weight of the car and to match the desired specifications. This leads to the increased polymer demand in the industry, which in turn drives the market for polymerization initiator. However, the stringent regulations on the use of recycled plastics in Europe might hamper the demand of these initiators as they are not being employed in the recycling process.
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The global polymers market size is projected to grow from USD 3.4 billion in 2019 to USD 4.2 billion by 2024, at a compound annual growth rate (CAGR) of 4.3%, during the forecast period. The polymerization initiator is a source of any chemical species that reacts with a monomer (a single molecule that can create chemical bonds) to form an intermediate compound capable of linking successively with a large number of other monomers into a polymeric compound are chemical compounds that are used in the polymer synthesis.
These initiators are correctly chosen depending on the type of polymerizations reactions. These initiators have active species present in their chemical structures, and these active species are generated by an external stimulus such as heat or irradiation. These initiators are employed depending upon the type of monomers, the reaction conditions, purpose, and use of the polymers. The most widely used initiators produce free radicals (reactive atoms or groups of atoms that contain odd numbers of electrons); examples include peroxides and aliphatic azo compounds used to polymerize vinyl chloride, methyl methacrylate, and other monomers.
The key 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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United initiators acquired 100% shares of hidrojen peroksit A.S., which is a single plant which is producing different qualities of hydrogen peroxide in turkey. This will help the organization to increase its product portfolio and serve several non-polymer applications such as textile, mining, water treatment, and farming. The company will also be investing actively in improving the efficiency of the plant and also increase the capacity of hydrogen peroxide in the future.
AkzoNobel Specialty Chemicals is developing a new technology for the production of organic peroxides. The company will start supplying emulsion-based organic peroxides for the production of polyvinyl chloride as emulsion products are considered more safe alternatives than the solvent-based peroxides. These emulsion-based organic peroxides can also be used in the polymerization reactions as it contains an anti-freeze agent which prevents the formation of ice crystals during the reaction, thus by hampering the reaction.
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