Benzoyl Peroxide Market : Industry Analysis and Forecast (2019-2027)
Global Benzoyl Peroxide Market was valued US$ Mn in 2019 and is expected to grow US$ Mnby 2027, at a CAGR of % during the forecast period.
Global Benzoyl Peroxide Market
The report study has analyzed the revenue impact of the COVID-19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Benzoyl peroxide is one of the key peroxides in terms of its application and scale of production. Benzoyl peroxide is a chemical that is used as antibiotics and for bleaching floor, hair bleaching, teeth whitening, and textile bleaching. However, its main application is in the pharmaceutical sector, for example,s Benzoyl peroxide used in the treatment of acne. Many people are suffering from acne which is also known by the National Center for Biotechnology Information (NCBI) as the eighth-most rampant disease worldwide with 9.5% of the global population suffering from it, and this makes up for an immense benzoyl peroxide market in pharmaceuticals.
In food processing, benzoyl peroxide (BPO) is (>92%) converted into benzoic acid (BA), which is used as an additive for soft drinks, fruits, juices, and many other types of food items. A higher concentration of BA than the suitable safety level (40 mg/kg) is dangerous to humans. Also, the polymer industry is a sustainable marketplace for the vendors manufacturing benzoyl peroxide.
Moreover, there has been significant growth in demand for composites as the material is used in some industries from aerospace and construction to industrial structures like storage tanks and even pipelines. Benzoyl peroxide is used as an initiator in the manufacturing of complexes. Given that the future will witness enormous growth of aerospace, construction, and industrial sector, benzoyl peroxide will be constantly used to serve the demand for composition.
Substitutes like niacinamide, salicylic acid, glycolic acid, and azelaic acid are disturbing the competitive structure of the market for benzoyl peroxide which is becoming a major challenge to the vendors. Also, 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. Additionally, it has teratogenic effects and cannot be prescribed for pregnant women. These factors are expected to hinder the benzoyl peroxide market during the forecast period.
The objective of the report is to present a comprehensive analysis of the Global Benzoyl Peroxide Marketincluding all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
Global Benzoyl Peroxide Market, By Product Type
â€¢ 50% Benzoyl Peroxide Powder
â€¢ 50% Benzoyl Peroxide Paste
Global Benzoyl Peroxide Market, By Application
â€¢ Chemical and Plastics Industry
â€¢ Building and Construction
â€¢ Automotive and Transportation
Global Benzoyl Perox"