Benzoyl Peroxide And Chloride Market

The global market for benzoyl peroxide and benzoyl chloride is set to experience growth in consumption volume and value over the next eight years. The market is forecasted to expand with an anticipated CAGR of +1.1% for volume and +3.9% for value from 2022 to 2030. Countries like the United States, Germany, and Belgium are leading in consumption and production of benzoyl peroxide and benzoyl chloride. Import and export volumes and values are also on the rise, indicating a positive outlook for the industry.

Market Forecast

Driven by increasing demand for benzoyl peroxide and benzoyl chloride worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.1% for the period from 2022 to 2030, which is projected to bring the market volume to 61K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.9% for the period from 2022 to 2030, which is projected to bring the market value to $303M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Benzoyl Peroxide And Benzoyl Chloride

In 2022, approx. 56K tons of benzoyl peroxide and benzoyl chloride were consumed worldwide; growing by 12% compared with the previous year's figure. The total consumption volume increased at an average annual rate of +3.7% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Global consumption peaked in 2022 and is likely to continue growth in years to come.

The global benzoyl peroxide and chloride market revenue surged to $223M in 2022, growing by 36% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +45.3% against 2020 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (8.9K tons), Germany (6.9K tons) and Belgium (5.7K tons), together accounting for 39% of global consumption. Turkey, the Netherlands, South Korea, Mexico, the UK, Japan, Taiwan (Chinese), Canada, Brazil and Russia lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by the Netherlands (with a CAGR of +24.8%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest benzoyl peroxide and chloride markets worldwide were Germany ($37M), the United States ($26M) and Belgium ($18M), with a combined 36% share of the global market. The Netherlands, Turkey, Canada, the UK, Mexico, South Korea, Russia, Taiwan (Chinese), Japan and Brazil lagged somewhat behind, together accounting for a further 38%.

Among the main consuming countries, Mexico, with a CAGR of +27.5%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of benzoyl peroxide and chloride per capita consumption was registered in Belgium (492 kg per million persons), followed by the Netherlands (211 kg per million persons), Germany (84 kg per million persons) and Turkey (53 kg per million persons), while the world average per capita consumption of benzoyl peroxide and chloride was estimated at 7.1 kg per million persons.

In Belgium, benzoyl peroxide and chloride per capita consumption increased at an average annual rate of +11.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Netherlands (+24.2% per year) and Germany (+11.4% per year).

Production

World Production of Benzoyl Peroxide And Benzoyl Chloride

In 2022, global production of benzoyl peroxide and benzoyl chloride rose remarkably to 56K tons, increasing by 6.2% compared with the previous year's figure. The total output volume increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, production reached the peak volume and is likely to continue growth in the immediate term.

In value terms, benzoyl peroxide and chloride production amounted to $160M in 2022 estimated in export price. The total output value increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 11%. Over the period under review, global production attained the maximum level in 2022 and is likely to see gradual growth in the near future.

Production By Country

The countries with the highest volumes of production in 2022 were Germany (20K tons), China (15K tons) and Belgium (10K tons), with a combined 81% share of global production. The Netherlands, Japan and Mexico lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +49.7%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Benzoyl Peroxide And Benzoyl Chloride

In 2022, global benzoyl peroxide and chloride imports skyrocketed to 60K tons, with an increase of 16% against the year before. The total import volume increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, benzoyl peroxide and chloride imports soared to $249M in 2022. Over the period under review, total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +64.6% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

In 2022, the United States (10K tons), distantly followed by Turkey (5.9K tons), South Korea (4.5K tons), Germany (4.3K tons), Poland (4K tons) and Italy (3.5K tons) were the main importers of benzoyl peroxide and benzoyl chloride, together making up 54% of total imports. The following importers - Belgium (2.6K tons), India (2.5K tons), the UK (2.5K tons), Taiwan (Chinese) (2K tons), the Netherlands (2K tons), Indonesia (1.7K tons) and Canada (1.4K tons) - together made up 25% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Turkey (with a CAGR of +22.8%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest benzoyl peroxide and chloride importing markets worldwide were the United States ($33M), Germany ($24M) and Turkey ($21M), with a combined 31% share of global imports.

Among the main importing countries, Turkey, with a CAGR of +23.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average benzoyl peroxide and chloride import price amounted to $4,129 per ton, growing by 22% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($8,122 per ton), while Indonesia ($1,958 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Benzoyl Peroxide And Benzoyl Chloride

Global benzoyl peroxide and chloride exports expanded notably to 60K tons in 2022, surging by 10% against the previous year. The total export volume increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, benzoyl peroxide and chloride exports soared to $253M in 2022. Over the period under review, total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +95.6% against 2015 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports By Country

In 2022, Germany (17K tons) and China (15K tons) were the largest exporters of benzoyl peroxide and benzoyl chloridearound the world, together constituting 54% of total exports. It was distantly followed by Belgium (7K tons), Italy (4K tons) and Poland (3.5K tons), together committing a 24% share of total exports. The Netherlands (2.5K tons), South Korea (1.8K tons), India (1.8K tons), the United States (1.4K tons), Turkey (1.4K tons), Indonesia (1.2K tons) and Japan (1.1K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +44.2%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest benzoyl peroxide and chloride supplying countries worldwide were Germany ($54M), China ($39M) and Belgium ($29M), with a combined 49% share of global exports. Italy, Poland, India, the United States, the Netherlands, Turkey, South Korea, Indonesia and Japan lagged somewhat behind, together accounting for a further 45%.

Among the main exporting countries, India, with a CAGR of +54.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average benzoyl peroxide and chloride export price amounted to $4,192 per ton, rising by 16% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($9,225 per ton), while Japan ($1,771 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+6.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform