Benzoyl Peroxide Market Overview:
According to American Academy of Dermatology (AAD), 50 million Americans suffer from acne annually, and almost 85% of people between the age of 12 and 24 from the global population experience at least minute acne once in life. Benzoyl peroxide reduces the bacteria that cause acne when applied on the skin which happens to be the reason it is used as a prescribed paste for the same. The growing number of people suffering from acne owing to the discernible rise in population is creating a myriad of opportunities in the benzoyl peroxide market. In terms of volume, the global benzoyl peroxide market size was around 12.6 KT in 2018, and the demand for the same is estimated to grow with a compound annual growth rate (CAGR) of around 3.54% during the forecast period of 2019 to 2025.
Owing to genetic reasons, sensitive skin, and other aspects that attribute to the stressful life that people lead and increasing obesity rates in North America, the region bears the maximum number of people suffering from acne not only during adolescent but also in the later stage of life. Apparently, these people are prescribed with benzoyl peroxide for curing the skin disease, which happens to be the foremost factor responsible for North America being the leading region in the benzoyl peroxide market in 2018 with a market share of around 32%.
Benzoyl Peroxide Market Outlook:
Benzoyl peroxide is an industrial chemical that is widely used as antibiotics and for bleaching floor, hair bleaching, teeth whitening, and textile bleaching. However, its major application is in the pharmaceutical sector. As mentioned above, the most important role of benzoyl peroxide is in the treatment of acne wherein it is used in combination with antibiotics.
There is an enormous number of people suffering from acne which is also documented by the National Center for Biotechnology Information (NCBI) as the eighth most rampant disease worldwide with 9.4% of the global population suffering from it, and this makes up for a huge benzoyl peroxide marketplace in pharmaceuticals, and its application in the sector will grow with a CAGR of 4.21% through to 2025.
Benzoyl Peroxide Market Growth Drivers:
- The Growth of the Polymers Market –
According to a business intelligence study by IndustryARC, the polymers market was valued to be $665.6 billion in 2018. Furthermore, the demand for polymers is estimated to grow with a steady CAGR of 5.1% during the forecast period of 2019 to 2025. This is a boon to the benzoyl peroxide market because the chemical is prevalently used as a polymerization initiator in various manufacturing units. Considering the growth in the packaging sector is warranting an upsurge in plastic production, the polymer industry is a fairly sustainable marketplace for the vendors manufacturing benzoyl peroxide.
- The Increasing Consumption of Cheese –
World cheese industry was gauged to have grown by 2.5% in 2017 which translated to 4971,000 tons of total trade, according to the findings by the Food and Agricultural Organization (FAO). A gamut of cheese manufacturers uses benzoyl peroxide as a bleaching agent in flour which largely supports the benzoyl peroxide market. Even though there are other alternatives available in the market, some manufacturers still leverage the bleaching characteristic of benzoyl peroxide for cheese production.
- The Demand Influx in the Composites Market –
There has been a perceptible growth in demand for composites as the material is used in various industries that range from aerospace and construction to industrial structures such as storage tanks and even pipelines. Benzoyl peroxide is used as an initiator in the manufacturing of composites. Considering that the future will observe massive growth of aerospace, construction, and industrial sector, benzoyl peroxide will be continuously used to suffice the demand for composition.
Benzoyl Peroxide Market Trends:
In March 2019, Glenmark Pharmaceuticals received Abbreviated New Drug Application (ANDA) approval by the Food & Drug Administration (FDA) for the production of benzoyl peroxide. The new production facility is envisioned to position the company in the acne treatment and benzoyl peroxide market.
Latest Development by Arkema – The organization developed Luperox A75 benzoyl peroxide which will be widely used for room temperature curing operations such as thermosetting. Moreover, this product can be used to achieve acrylic composites using amine accelerators.
Benzoyl Peroxide Market Challenges:
Alternatives such as salicylic acid, niacinamide, glycolic acid, and azelaic acid are disrupting the competitive structure of the benzoyl peroxide market which is becoming a major challenge to the vendors. Additionally, benzoyl peroxide is found to cause side effects such as burning, itching, and peeling to the ones who use it for the treatment of acne. However, physicians and skin specialists are still prescribing the paste to cure skin disease. Moreover, the vendors are reinventing product strategies in order to provide a harmless solution in the pharmaceutical sector. Apart from this, the marketplace in the construction and industrial sector is still secured for the vendors in the benzoyl peroxide market.
Benzoyl Peroxide Market Key Players Perspective:
The key players striving to capitalize on the demand influx in the benzoyl peroxide market are AkzoNobel, United Initiators, Arkema, and Chinasun Specialty Products, Taizhou Yuanda, Haixiang, and SACI.
Benzoyl Peroxide Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the benzoyl peroxide market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of benzoyl peroxide market, and its application in various sectors that include pharmaceutical, industrial, and construction.
Benzoyl Peroxide Market Report: Industry Coverage
The benzoyl peroxide market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
Key Questions Addressed in the Benzoyl Peroxide Market Report
Is the market demand for benzoyl peroxide growing? How long will it continue to grow and at what rate?
Which type of home security system presents the major growth opportunities?
Is there a possibility for change in the market structure over time?
Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?
Do the key vendors look for partnerships to expand their businesses with respect to geography or product?
What are the short-term, long-term, and medium-term growth drivers for the market?
What are the short-term, medium-term, and long-term challenges for the market?
What are the short-term, medium-term, and long-term opportunities for the market
Who are the top players/companies of the market?
What are the recent innovations in the market?
How many patents have been filed by the leading players?
What are the types of patents filed by the leading players?
What is our Vision 2030 for benzoyl peroxide market?
A Few Focus Points Of This Research Are Given Below:
- Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies
- Provide an overview of the product portfolio, including product planning, development, and positioning
- Discuss the role of technology companies in partnerships
- Explore the regional sales activities
- Analyze the market size and giving the forecast for current and future global benzoyl peroxide market during the forecast 2018–2023
- Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures
1. Benzoyl Peroxide Market - Overview
1.1. Definitions and Scope
2. Benzoyl Peroxide Market - Executive summary
2.1. Market Revenue, Market Size and Key Trends by Company
2.2. Key Trends by type of Application
2.3. Key Trends segmented by Geography
3. Benzoyl Peroxide Market
3.1. Comparative analysis
3.1.1. Product Benchmarking - Top 10 companies
3.1.2. Top 5 Financials Analysis
3.1.3. Market Value split by Top 10 companies
3.1.4. Patent Analysis - Top 10 companies
3.1.5. Pricing Analysis
4. Benzoyl Peroxide Market – Startup companies Scenario Premium
4.1. Top 10 startup company Analysis by
4.1.3. Market Shares
4.1.4. Market Size and Application Analysis
4.1.5. Venture Capital and Funding Scenario
5. Benzoyl Peroxide Market – Industry Market Entry Scenario Premium
5.1. Regulatory Framework Overview
5.2. New Business and Ease of Doing business index
5.3. Case studies of successful ventures
5.4. Customer Analysis – Top 10 companies
6. Benzoyl Peroxide Market Forces
6.4. Porters five force model
6.4.1. Bargaining power of suppliers
6.4.2. Bargaining powers of customers
6.4.3. Threat of new entrants
6.4.4. Rivalry among existing players
6.4.5. Threat of substitutes
7. Benzoyl Peroxide Market -Strategic analysis
7.1. Value chain analysis
7.2. Opportunities analysis
7.3. Product life cycle
7.4. Suppliers and distributors Market Share
8. Benzoyl Peroxide Market – By Quality Index (Market Size -$Million / $Billion)
8.1. Market Size and Market Share Analysis
8.2. Application Revenue and Trend Research
8.3. Product Segment Analysis
8.3.1. Reagent grade
8.3.2. Food grade
8.3.3. Industrial grade
9. Benzoyl Peroxide Market – By Appearance (Market Size -$Million / $Billion)
10. Benzoyl Peroxide – By End Users(Market Size -$Million / $Billion)
10.1. Segment type Size and Market Share Analysis
10.2. Application Revenue and Trends by type of Application
10.3. Application Segment Analysis by Type
10.3.1. Chemical and Plastic Industry
10.3.1.1. Specialty Chemicals
10.3.1.2. Chemical polymers
10.3.1.3. Chemicals and plastics
10.3.1.5. Plastics and polymers industry
10.3.1.6. Polymer synthesis
10.3.1.8. Polymerization initiator
10.3.2. General Industry
10.3.3. Building and construction
10.3.3.1. Adhesives and sealants
10.3.4. Automotive and transportation
10.3.4.1. Adhesives and sealants
10.3.4.2. Polymer and rubber
11. Benzoyl Peroxide - By Geography (Market Size -$Million / $Billion)
11.1. Benzoyl Peroxide Market - North America Segment Research
11.2. North America Market Research (Million / $Billion)
11.2.1. Segment type Size and Market Size Analysis
11.2.2. Revenue and Trends
11.2.3. Application Revenue and Trends by type of Application
11.2.4. Company Revenue and Product Analysis
11.2.5. North America Product type and Application Market Size
18.104.22.168. Rest of North America
11.3. Benzoyl Peroxide - South America Segment Research
11.4. South America Market Research (Market Size -$Million / $Billion)
11.4.1. Segment type Size and Market Size Analysis
11.4.2. Revenue and Trends
11.4.3. Application Revenue and Trends by type of Application
11.4.4. Company Revenue and Product Analysis
11.4.5. South America Product type and Application Market Size
22.214.171.124. Costa Rica
126.96.36.199. Rest of South America
11.5. Benzoyl Peroxide - Europe Segment Research
11.6. Europe Market Research (Market Size -$Million / $Billion)
11.6.1. Segment type Size and Market Size Analysis
11.6.2. Revenue and Trends
11.6.3. Application Revenue and Trends by type of Application
11.6.4. Company Revenue and Product Analysis
11.6.5. Europe Segment Product type and Application Market Size
188.8.131.52. Rest of Europe
11.7. Benzoyl Peroxide – APAC Segment Research
11.8. APAC Market Research (Market Size -$Million / $Billion)
11.8.1. Segment type Size and Market Size Analysis
11.8.2. Revenue and Trends
11.8.3. Application Revenue and Trends by type of Application
11.8.4. Company Revenue and Product Analysis
11.8.5. APAC Segment – Product type and Application Market Size
184.108.40.206. South Korea
12. Benzoyl Peroxide Market - Entropy
12.1. New product launches
12.2. M&A's, collaborations, JVs and partnerships
13. Benzoyl Peroxide Market – Industry / Segment Competition landscape Premium
13.1. Market Share Analysis
13.1.1. Market Share by Country- Top companies
13.1.2. Market Share by Region- Top 10 companies
13.1.3. Market Share by type of Application – Top 10 companies
13.1.4. Market Share by type of Product / Product category- Top 10 companies
13.1.5. Market Share at global level- Top 10 companies
13.1.6. Best Practises for companies
14. Benzoyl Peroxide Market – Key Company List by Country Premium
15. Benzoyl Peroxide Market Company Analysis
15.1. Market Share, Company Revenue, Products, M&A, Developments
15.2. Akzo Nobel N.V.
15.3. United Initiators
15.4. Company 3
15.5. Company 4
15.6. Company 5
15.7. Company 6
15.8. Company 7
15.9. Company 8
15.10. Company 9
15.11. Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"
16. Benzoyl Peroxide Market -Appendix
17. Benzoyl Peroxide Market -Methodology Premium
17.1. Research Methodology
17.1.1. Company Expert Interviews
17.1.2. Industry Databases
17.1.4. Company News
17.1.5. Company Annual Reports
17.1.6. Application Trends
17.1.7. New Products and Product database
17.1.8. Company Transcripts
17.1.9. R&D Trends
17.1.10. Key Opinion Leaders Interviews
17.1.11. Supply and Demand Trends