Report Code: A12113 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
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Two benzoyl groups are connected by a peroxide link in benzoyl peroxide. In terms of application and scale of production, it is one of the most important peroxides. Benzoyl peroxide is an odorless white granular powder or crystals in its natural state. It is primarily used to treat acne and poison ivy dermatitis as a dermatological agent. In the food industry, benzoyl peroxide is also used as a bleach. When benzoyl peroxide decomposes, oxygen is released, killing bacteria. Benzoyl peroxide increases the turnover rate of epithelial cells in the skin due to its irritant effect, peeling acne skin and increasing fairness. Acne vulgaris can be treated with benzoyl peroxide. The Food and Drug Administration of the U.S. has approved the use of benzoyl peroxide as a food additive. It is used as a bleaching agent in bread and cheese. In higher concentrations, it is also used as a bleaching agent for hair, teeth whitening, and fabric cleaning. Benzoyl peroxide is also available in a variety of concentrations as a gel, cream, powder, and liquid. For applications such as face washes and fabric cleaners, benzoyl peroxide solutions are moderately concentrated.
COVID-19 Impact analysis
COVID-19 pandemic began to spread around the world in early 2020, infecting millions of people worldwide, prompting major countries around the world to implement foot prohibitions and work stoppage orders. This has affected the supply chain management of the companies prevailing the benzoyl peroxide market. Financial crisis were also one of the impacts of this pandemic.
Top Impacting Factors
Composites have seen a significant increase in demand as the material is used in a variety of industries, including aerospace and construction, as well as industrial structures such as storage tanks and pipelines. In the production of complexes, benzoyl peroxide is used as an initiator. Given the enormous growth of the aerospace, construction, and industrial sectors in the future, benzoyl peroxide will continue to be used to meet the demand for composition. Substitutes such as niacin amide, salicylic acid, glycolic acid, and azelaic acid are upsetting the competitive structure of the benzoyl peroxide market, posing a significant challenge to vendors. The use of benzoyl peroxide for acne treatment has been linked to side effects such as burning, itching, and peeling. It also has teratogenic effects, making it unsuitable for pregnant women. These factors are expected to stymie the benzoyl peroxide market during the forecast period.
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