Polymerization Initiator Market Report

In the polymerization initiator market, the demand for photoinitiators has been demanded on a large scale due to the shift of industries towards fast production cycles in terms of the rapid polymerization characteristic of these initiators when activated by UV or visible light. This trend is especially observed for adhesives, 3D printing, and coatings. Also, a trend is seen in the biobased initiators market, which is made from renewable feedstocks obtained from biomass or plants. Such sustainable options are being welcomed by various users compared to traditional petroleum-based ones. This option is preferred due to the reduction of the carbon footprint and environmental awareness.

Also, the demand for the nano-initiators is on the rise due to advances in nanotechnology for polymerization. Nano-initiators with improved kinetical control over polymerization indirectly boost the opportunity for providing high-performance materials along with tailor-made properties. Thus, due to the rising demand for various polymerization initiators, the demand is expected to boom in the coming period.

The production of polymerization initiators is considered a costly option due to the complicated chemical process and specialized equipment and some initiator precursors and solvents. These factors directly affect the production expenses, which in turn reflect in the final product. For industries that use polymerization initiators, like plastics and coatings, this increased cost acts as a barrier, particularly in price-sensitive markets where cost competitiveness is crucial. Advancements in polymerization technology pose a major challenge to the traditional polymerization initiator market. Emerging methods, such as living polymerization techniques or more efficient catalytic systems, offer alternatives that either reduce or eliminate the need for conventional initiators. These innovative approaches can enhance polymerization efficiency, offer improved control over molecular weight and polymer structure, and potentially reduce production costs.

In February 2020, United Initiators GmbH completed the acquisition of the Hydrogen Peroxide plant of Evonik Industries AG. United Initiators GmbH had agreed to acquire the Hydrogen Peroxide (H2O2) plant of Evonik Industries AG on January 28, 2020. The sale had been initiated to address the Competition Bureau about its proposed transaction for the takeover of PeroxyChem Holding Company LLC. The deal had been approved by the Competition Bureau. United Initiators GmbH completed the acquisition of the Hydrogen Peroxide (H2O2) plant of Evonik Industries AG.

In May 2018, AkzoNobel Specialty Chemicals expanded its organic peroxide capacity in India. AkzoNobel Specialty Chemicals broke ground on a project to expand production capacity and upgrade its organic peroxides facility in Mahad, India. Organic peroxides were essential for the manufacture of a wide range of polymer-based products, including athletic shoe soles, wind turbines, and PVC pipes used in the construction industry.

North America presents a lucrative opportunity for the polymerization initiator market due to the rising market for the automotive sector, which is expected to boost rapidly in North America. As per the data of the International Organization of Motor Vehicle Manufacturers, North America produced a total of 14.8 million vehicles in 2022, valued at 17.4% of the total world production, which makes North America a lucrative market for the polymerization initiator market. Also, Asia Pacific can be considered a lucrative market due to the rising construction industry, where China plays a significant role.

As per the data of the International Trade Administration, China is considered the world’s largest market for construction and has recently invested US$ 4.2 trillion in the design and construction sector during their 14th Five-Year Plan period or for the years 2021-2025. Further, India can also be considered a promising market, as according to the data of the Indian Brand Equity Foundation, the total share of construction in Indian gross domestic product is valued at 9%. Moreover, it is forecast that the Indian construction industry will reach the mark of US$ 1.4 trillion by 2025.