Reaction Initiators And Accelerators Market

The global market for reaction initiators, accelerators, and catalytic preparations is projected to see continued growth over the next eight years, with forecasted increases in both volume and value. Consumption of these products has been steadily rising, with the market expected to reach 9.9M tons and $138.4B in value by 2030. Key countries driving market growth include the UK, China, the United States, Japan, and Germany. Import and export trends also indicate strong growth, with notable fluctuations in import and export prices across different regions.

Market Forecast

Driven by increasing demand for reaction initiators, reaction accelerators and catalytic preparations worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +5.5% for the period from 2022 to 2030, which is projected to bring the market volume to 9.9M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +7.5% for the period from 2022 to 2030, which is projected to bring the market value to $138.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Reaction Initiators, Reaction Accelerators And Catalytic Preparations

In 2022, approx. 6.4M tons of reaction initiators, reaction accelerators and catalytic preparations were consumed worldwide; flattening at 2021 figures. Over the period under review, consumption posted strong growth. Global consumption peaked at 6.5M tons in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

The global reaction initiators and accelerators market value totaled $77.4B in 2022, with an increase of 4.1% 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). Overall, consumption continues to indicate strong growth. Over the period under review, the global market attained the peak level at $77.6B in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the UK (1.1M tons), China (887K tons) and the United States (623K tons), with a combined 40% share of global consumption.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +34.6%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Japan ($9.8B), the United States ($7.4B) and China ($7B) appeared to be the countries with the highest levels of market value in 2022, together accounting for 31% of the global market. The UK, India, Mexico, Russia, Pakistan, Brazil, Germany, South Korea, Indonesia and Italy lagged somewhat behind, together accounting for a further 26%.

In terms of the main consuming countries, the UK, with a CAGR of +30.9%, saw the highest growth rate of 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 reaction initiators and accelerators per capita consumption was registered in the UK (16 kg per person), followed by Germany (3.3 kg per person), Japan (2.2 kg per person) and Italy (2 kg per person), while the world average per capita consumption of reaction initiators and accelerators was estimated at less than 0.1 kg per person.

In the UK, reaction initiators and accelerators per capita consumption increased at an average annual rate of +33.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (+12.0% per year) and Japan (+10.2% per year).

Production

World Production of Reaction Initiators, Reaction Accelerators And Catalytic Preparations

Global reaction initiators and accelerators production stood at 6.4M tons in 2022, with an increase of 2.6% against the previous year's figure. Overall, production enjoyed strong growth. The growth pace was the most rapid in 2015 with an increase of 28% against the previous year. Global production peaked at 6.5M tons in 2020; however, from 2021 to 2022, production remained at a lower figure.

In value terms, reaction initiators and accelerators production expanded remarkably to $68.5B in 2022 estimated in export price. Over the period under review, production recorded prominent growth. The most prominent rate of growth was recorded in 2015 when the production volume increased by 32% against the previous year. Over the period under review, global production attained the maximum level at $71.9B in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were the UK (1.1M tons), China (960K tons) and the United States (900K tons), with a combined 46% share of global production.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +35.0%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Reaction Initiators, Reaction Accelerators And Catalytic Preparations

In 2022, overseas purchases of reaction initiators, reaction accelerators and catalytic preparations increased by 2.6% to 1.6M tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 15%. Over the period under review, global imports attained the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, reaction initiators and accelerators imports declined modestly to $29.7B in 2022. Overall, imports saw a remarkable increase. The pace of growth appeared the most rapid in 2021 when imports increased by 36%. As a result, imports attained the peak of $30.3B, and then fell slightly in the following year.

Imports By Country

In 2022, Indonesia (120K tons), South Korea (113K tons), the United States (112K tons), Germany (87K tons), China (71K tons), Belgium (71K tons), India (67K tons), Canada (62K tons), Spain (59K tons), Taiwan (Chinese) (56K tons), the Netherlands (56K tons) and Poland (51K tons) represented the main importer of reaction initiators, reaction accelerators and catalytic preparations in the world, generating 57% of total import. Mexico (49K tons) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +18.8%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest reaction initiators and accelerators importing markets worldwide were Germany ($4.4B), China ($2.7B) and Mexico ($2.7B), with a combined 33% share of global imports. The United States, South Korea, Taiwan (Chinese), Spain, Poland, Indonesia, India, the Netherlands, Belgium and Canada lagged somewhat behind, together comprising a further 29%.

Among the main importing countries, Poland, with a CAGR of +19.3%, recorded the highest rates of growth with regard to 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

The average reaction initiators and accelerators import price stood at $18,242 per ton in 2022, which is down by -4.2% against the previous year. In general, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, reaction initiators and accelerators import price increased by +61.2% against 2016 indices. The growth pace was the most rapid in 2021 when the average import price increased by 18%. As a result, import price attained the peak level of $19,045 per ton, and then shrank in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mexico ($53,871 per ton), while Indonesia ($5,292 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+10.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Reaction Initiators, Reaction Accelerators And Catalytic Preparations

In 2022, overseas shipments of reaction initiators, reaction accelerators and catalytic preparations increased by 8.2% to 1.6M tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, reaction initiators and accelerators exports rose remarkably to $29.5B in 2022. Over the period under review, total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +7.0% 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 +79.6% against 2016 indices. The pace of growth was the most pronounced in 2021 when exports increased by 22%. Over the period under review, the global exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Exports By Country

In 2022, the United States (388K tons) and Germany (353K tons) represented the largest exporters of reaction initiators, reaction accelerators and catalytic preparationsacross the globe, together committing 47% of total exports. It was distantly followed by China (144K tons) and the Netherlands (142K tons), together achieving an 18% share of total exports. The following exporters - Japan (42K tons), Belgium (40K tons), Canada (36K tons), France (36K tons), the UK (35K tons), Singapore (35K tons), South Korea (29K tons), Denmark (28K tons) and Italy (26K tons) - together made up 20% of total exports.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +12.8%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest reaction initiators and accelerators supplying countries worldwide were Germany ($5.5B), the United States ($5.4B) and Japan ($1.9B), with a combined 44% share of global exports. Italy, the Netherlands, Canada, China, France, the UK, Belgium, Denmark, Singapore and South Korea lagged somewhat behind, together accounting for a further 25%.

Canada, with a CAGR of +9.1%, recorded the highest growth rate of the value of exports, among the main exporting countries 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 reaction initiators and accelerators export price amounted to $18,769 per ton, almost unchanged from the previous year. Over the period under review, export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, reaction initiators and accelerators export price increased by +56.2% against 2016 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by 15%. As a result, the export price attained the peak level of $18,825 per ton, leveling off in the following year.

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 Italy ($47,984 per ton), while South Korea ($5,836 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+6.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform