[171 Pages Report] The Polymerization Initiator Market size is projected to grow from the estimated 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. Polymerization initiators are a source of any chemical species that reacts with a monomer to form an intermediate compound which is capable of linking successively with a large number of other monomers into a polymeric compound.

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Persulfate to be the second-fastest-growing component of the polymerization initiators market

Polymerization persulfates are a group of chemically active compounds that contain one peroxide group per sulfur in their molecular structure. Persulfates are also termed as alkali metal salts which are manufactured by the electrochemical processes. These persulfates release oxygen, which is why these compounds are used as initiators and oxidizing agents. The physical appearance of the persulfate types is based on the oxidation requirements and price as the functional characteristics of these materials remains the same, and these are used interchangeably in most of the applications.  There are three types of persulfates, viz., ammonium, sodium, and potassium.

Polypropylene to be the second-largest type segment of the polymerization initiators market.

Propylene homopolymer is the most widely used general-purpose grade as it exhibits a high strength-to-weight ratio. It is stiffer & stronger than polypropylene copolymer and shows good chemical resistance and weldability. It is used in numerous end-use applications such as packaging, textiles, healthcare, pipes, automotive, and electrical products. These polymers are optically clear and flexible, which make them the first choice where transparency and good appearance is required. When compared to propylene homopolymer, both have almost similar properties except that it is comparatively softer and exhibits higher impact strength & toughness.

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APAC is estimated to account for the largest market share during the forecast period.

The APAC polymer industry is expected to expand in the upcoming years and is likely to present several significant opportunities for foreign investors. According to the American Chamber of Commerce Singapore and US Chamber of Commerce, about 19% of APAC countries are planning to shift their business from China into their region. Indonesia is identified as one of the most attractive countries for business expansion, which is followed by Vietnam, Myanmar, and Thailand. Apart from this, low-cost labor availability in countries such as Cambodia, Indonesia, Laos, and Vietnam will be an added advantage.

Key Market Players

The leading players in the polymerization initiators market are BASF (Germany), Arkema (France), AkzoNobel (Netherlands), Celanese (US), United Initiators (Germany), LANXESS (Germany), and Adeka Corporation (Japan). Most of these leading players operate globally and have a widespread distribution network. These players have strong R&D and focus on producing high-performance polymers to meet the demand of end-users.

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