Dicumyl Peroxide Market
Dicumyl Peroxide Market Analysis, By Purity (<40%, >40%, Others), By Application (Rubber, Polyolefin, Wires and Cables), By Industry (Paint and Coating Industry, Adhesive Industry, Chemical Industry) & By Region - Global Insights till 2033
Analysis of Dicumyl Peroxide Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Dicumyl Peroxide Market Outlook
It is an organic chemical belonging to the group of peroxides deriving its name from cumyl residue. The material is primarily used in the production of polymers and elastomers. It is mainly utilized as a crosslinking agent for elastomers and polymers linked with organic peroxides to produce hoses, wires, rubber processing chemicals, and tires.
It is the curing agent that is most frequently employed as a substitute for sulfur in the widest range of rubber industries where odourless artifacts are not required because it cures quickly and costs less than other kinds of organic peroxides.
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What are applications expected to bring swift uptake in demand?
Its wide applications in the rapidly growing processes, such as polymer modification, polymerization, acrylic resins, etc. have been increasing the dependency of several industries on this material, leading to a spike in the clamour for dicumyl peroxide. It also acts as an initiator for polystyrene and a curing agent for unsaturated polyester resins.
The vibrant demand from the automotive and construction sectors
Owing to rocketing urbanization demand for homes and automobiles is increasing which is a key driver behind propelling demand for the paints and coating industry. The volume for paint producers is soured to reach new heights in the forecast period 2023 - 2033. Moreover, industrial painting demand is also expected to notice an upward trajectory in the upcoming years.
The rise in disposable income and the ever-increasing automobile fleet on road are some of the main factors that drive the rubber tires market, which eventually increases the market as well. Polymers produced using dicumyl peroxide display exceptional durability and find tremendous application in the manufacture of shoe soles, which is on a growth trajectory, mainly in developing economies.
Growing usage in electricity networks to fuel demand in the forecast period 2023- 2033
As dicumyl peroxide is used to insulate high-voltage cables, the increased need to upgrade existing electrical networks is also anticipated to drive up demand for it. Along with this, massive expenditures in renewable energy sources might further propel the market during the forecast period.
What are the challenges ahead for vendors?
Regulations on exposure are creating hindrances to market growth
As this substance is registered under EU regulation EC 1907/2006 due to its high sensitivity. some procedures, such as the production, and its use as a polymerization catalyst for synthetic and natural polymers often lead to its release in the environment, thereby, making it vital for vendors to have smart go-to-market strategies in hand while embracing advanced technologies. These steps may increase sales and assist companies in moving ahead of competitors.
Another challenge is that it can have effects on human health and the environment due to its reactive nature. There is a certain level of precautions needed by manufacturers and workers to avoid serious consequences such as nose bleeding while working with this chemical.
The increase in the prices of raw materials is pushing manufacturers to increase the cost, which, to some extent, is obstructing its growth. Due to the toxic and flammable nature of this chemical, stringent government policies pose a restraint for manufacturers.
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What are strategic moves taken by manufacturers for a competitive edge?
The manufacturers in this industry are focusing on variated applications in the paint and coating sector, chemicals, and plastic and rubber industry. Furthermore, these vendors are targeting the application of this for making adhesives. Apart from product innovation and research, these companies are also opting for collaborations and acquisition tactics to retain their market share and competitive edge over others.
Some of these recent smart moves made by organizations are listed below :
- 2018- Valiant Co. Ltd has recently acquired MP Biomedicals for further expansion of their product portfolio which mainly contains fine chemicals and pharmaceuticals. The company has acquired the latter with all 100% membership which will foster abundant funding and is likely to spur research investment in upcoming years.
- Sept 2022- The Arkema finalized the acquisition of Polimeros Especiales in Mexico. This move is intended to strengthen the group’s offering of solvent-free solutions and its position in the growing Mexico region.
Globally, Asia Pacific dominates the market. China is at the forefront of Asia Pacific, having a much bigger market share as compared to other nations.
It has also been observed that the density of manufacturers is high in the Asia Pacific region, concentrated in countries like China, Taiwan, South Korea, etc.
Due to the rapid growth in the building construction and infrastructure sector, not limited to, developed regions like North America and Europe, dicumyl peroxide is budding in these regions due to the development of the paint and coating industry.
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Dicumyl Peroxide Market Segmentation
On the basis of Purity :
On the basis of Application :
- Wires and Cables
On the basis of Industry :
- Paint and Coating Industry
- Adhesive Industry
- Chemical Industry
- Plastic Industry
On the basis of Regions :
- North America
- Latin America
- Western Europe
- Eastern Europe
- CIS and Russia
- South Korea
- Middle East and Africa
- GCC Countries
- South Africa
- North America
- FAQs -
The demand for tires has grown due to increased automobile production. Hence, rising tire production is driving the demand for this chemical.
The majority of demand is expected from paint and coating applications, the automotive sector, and the chemical sector in the forecast period 2023-2033.
Asia Pacific regional market holds major share currently led by China.
The market is analyzed on the basis of purity, applications, Industries, and Regions.