Huge investments in the renewable sources of energy also have the potential to drive the dicumyl peroxide market during the forecast period.
Rockville, MD -- (SBWIRE) -- 10/11/2018 -- Dicumyl peroxide, often termed as DCP, is an organic chemical compound generally used for crosslinking natural and synthetic rubber. Dicumyl peroxide is also a crosslinking agent between polymers and elastomers. Due to its prominent presence in polyolefin and rubber, dicumyl peroxide is used to manufacture tires, rubber seals, hose, wires, etc. Dicumyl peroxide catalyzes the function of a flame retardant in expanded polystyrene in case of heating. As a high temperature cross linker, dicumyl peroxide is used in rubber and plastic applications. Moreover, dicumyl peroxide is widely used as an initiator for several polymerization reactions involving synthetic resins or unsaturated polyester resins. In some cases, dicumyl peroxide finds its application as a vulcanizing agent.
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Locally or in international trade, dicumyl peroxide is transported as a mixture with CaCO3 to enhance stability. Being a toxic chemical, dicumyl peroxide may cause skin, eye, and respiratory irritation with prolonged exposure. Dicumyl peroxide is categorized as a hazardous material by several authorities, owing to its toxicity.
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 Dicumyl Peroxide 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. The growing demand to advance installed electricity networks is also expected to increase the demand for dicumyl peroxide, as it finds application in insulating high voltage cables. Coupled with this, huge investments in the renewable sources of energy also have the potential to drive the dicumyl peroxide market during the forecast period.
However, owing to the world economic slowdown, the dicumyl peroxide market has also been affected. But due to constant demand, it has maintained a steady growth. The increase in the prices of raw materials is pushing manufacturers to increase the cost of dicumyl peroxide, which, to some extent, is obstructing its growth. Due to the toxic and flammable nature of dicumyl peroxide, stringent government policies pose a restraint for manufacturers.
Recently, in 2017, Akzo Nobel Chemicals B.V. announced the scale-up of its organic peroxide plant in Ningbo, China. This investment is expected to increase Akzo Nobel's dicumyl peroxide capacity by 100%. This move is followed right after the completion of 40% increase in capacity. This points to increasing global demand and the opportunity that lies in dicumyl peroxide.
The dicumyl peroxide market is segmented on the basis of purity, industry, and application.
On the basis of purity, the dicumyl peroxide market is segmented into:
<40% Dicumyl Peroxide
?40% Dicumyl Peroxide
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Globally, Asia Pacific dominates the dicumyl peroxide market. China is in 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, but not limited to, the developed regions like North America and Europe, dicumyl peroxide is budding in these regions due to the development of the paint and coating industry.
List of Market Participants:
TCI Chemicals (India) Pvt. Ltd.
MP Biomedicals, LLC.
ACE CHEMICAL CORP.
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