The global polymerization initiators market is projected to reach a valuation of US$ 1.3 Bn in 2022, with sales growing at a 4.9% CAGR during the forecast period. Against this backdrop, the polymerization initiators market size will reach US$ 2.1 Bn by 2032.
Polymerization initiators are chemical substances that react with a monomer to form an intermediate which can link with many other monomers sequentially to form a polymeric compound.
Substantial production volume of plastics all over the globe is fueling the demand for initiators. Although peroxide is in high demand, sales of persulfate are expected to gain traction during the forecast period owing to its extensive usage in the manufacturing of polymers.
The quantity and type of initiators are determined by the type of monomers and the applications in which they will be used. These initiators are used in radical polymerization to control heat or light initiation.
Polyethylene, polypropylene, and PVC are common plastics used in a variety of end-use industries. The growth in the initiators market will be aided by increasing demand for these plastics.
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As per FMI, East Asia is expected to dominate the global polymerization initiators market over the forecast period due to extensive usage of polymerization initiators in the manufacturing sector in China. The polymerization initiators market in East Asia is projected to top US$ 759.6 Mn by 2032.
“Increasing usage of polymerization initiators in the healthcare sector for the formulation of drugs such as benzoyl peroxide, along with surging demand for plastics such as polyethylene, polypropylene, PVC will augment the growth in the market,” says and FMI analyst.
- Based in type, the peroxide segment is projected to hold approximately 44% of the total market share in 2022.
- In terms of applications, total demand in the polyethylene segment is forecast to reach US$ 610.3 Mn by 2032.
- The azo compounds segment is anticipated to grow at a 5% CAGR through 2032.
- India is expected to lead the South Asia polymerization initiators market due to increasing utilization in healthcare and automotive sectors.
- China is expected to account for 77% of the East Asia polymerization initiators market share in 2022.
- East Asia will emerge as an attractive market, creating an incremental dollar opportunity of US$ 308.2 Mn during the forecast period.
Key market participants of the polymerization initiators market elaborated in the report include Arkema, Nouryon, United Initiators, LANXESS, Adeka Corporation, Fujifilm Wako Pure Chemicals Corporation, Otsuka Chemical Co, Ltd, Chemorous, and others.
Key market players are investing in mergers and acquisitions to expand their production strategies and to improve sales. For instance:
- In 2019, United Initiators announced that its Sodium Persulfate plant would be operational with commercial sales in Huaibei, China. This expansion will help in serving the client base of China & Rest of Asia Pacific in the next coming years.
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More Insights into the Global Polymerization Initiators Market Report
In its latest report, FMI offers an unbiased analysis of the global polymerization initiators market, providing historical data for the period of 2017-2021 and forecast statistics for the period of 2022-2032. To understand the global market potential, its growth, and scope, the market is segmented based on type (peroxide, persulfate, azo compounds & others), by application (polyethylene, polypropylene, polyvinyl chloride, polystyrene, ABS & others) & by region ( North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa).