The Global Hydrogen Peroxide market size was USD 5.30 Billion in 2022 and is expected to reach USD 8.80 billion in 2032, and register a revenue CAGR of 5.8% during the forecast period. Revenue growth of the market is primarily driven by various factors such as rising demand from end-use industries including healthcare, pulp & paper, and wastewater treatment, among others. Hydrogen peroxide is extensively used in the healthcare industry for wound cleaning, disinfection, and other medical procedures. Rising demand for hydrogen peroxide as a cleaning agent due to its high oxidizing potential is also contributing to revenue growth of the market.
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Top Companies: BASF SE, Arkema Group, Dow, Chang Chun Group, Grasim, Evonik Industries AG, Gujarat Alkali and Chemicals Ltd, Guangdong ZhongCheng Chemicals Co. Ltd, Kemira Oyj and Hodogaya Chemical Co. Ltd.
Further Key Finding from the Report Suggestion:
- In context to Dilution Type, the 35 percent H2O2 segment is projected to witness a considerable growth rate of 5.6% during the forecast period. The growth rate witnessed by this segment is attributed to the continuous expansion of the food sector and application of the compound in bleaching wheat flour and processing cheese. The COVID-19 pandemic has resulted in an increased emphasis on the sanitation of food products among consumers to minimize the risk of transmission of the virus from contaminated packages. It has resulted in the growing popularity of the compound in sanitization and eliminating microorganisms from food packaging materials.
- In regards to End-user, the Pulp & Paper segment held the largest market share of more than 40.0% in 2020. In the pulp & paper industry the compound is used in bleaching of chemical pulp. When the compound is used in pulp & paper bleaching it enhances brightness stability, brightness level and minimizes manufacturing cost.
- In regards to Application, the Disinfectant segment is projected to witness a considerable growth rate of 5.9% during the forecast period. The growing awareness about the negative environmental impact of disposing untreated wastewater to water bodies has resulted in the growing demand for the compound in disinfecting the water, wherein it is used to remove organic impurities.
- In November 2018, INDIAN PEROXIDE had launched a new hydrogen peroxide plant in Dahej, Gujarat. The company is also planning to investment Rs. 750 Cr in next 3–5 years along with expansion of the capacity for other chemical units that would support the new H2O2 plant.
- In February 2020, Mitsubishi Gas Chemical, one of the mentionable market player, has revealed that the company is prepared to construct a new production facility for industrial hydrogen peroxide in Taiwan. For this expansion the company has an investment of USD 156.6 million.
Upcoming Trends of Hydrogen Peroxide Market:
Hydrogen peroxide (H2O2) is a versatile chemical with a wide range of applications in various industries. Here are some upcoming trends in the field of hydrogen peroxide:
- Green chemistry: Hydrogen peroxide is a more environmentally friendly alternative to traditional chemical oxidants, such as chlorine and ozone. The trend towards green chemistry is expected to drive the demand for hydrogen peroxide in various applications, including water treatment, pulp and paper production, and textile bleaching.
- Increasing demand for disinfectants: The COVID-19 pandemic has increased the demand for disinfectants, and hydrogen peroxide is a highly effective disinfectant. As a result, the demand for hydrogen peroxide is expected to increase in the healthcare, food processing, and pharmaceutical industries.
- Growth in electronics manufacturing: Hydrogen peroxide is used in the electronics manufacturing industry as a cleaning agent for semiconductor and electronic components. With the growth of the electronics industry, the demand for hydrogen peroxide in this application is also expected to increase.
- Innovation in hydrogen peroxide production: There is ongoing research and development aimed at improving the efficiency and sustainability of hydrogen peroxide production. New technologies such as electrochemical production and photocatalysis are being explored, which could result in cost savings and increased production capacity.
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The global Hydrogen Peroxide market is segmented into:
Dilution Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- 90% H2O2
- 35% H2O2
- 6 to 10% H2O2
- 3% H2O2
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Bleaching
- Oxidizing
- Disinfectant
- Others
End-user Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Pulp & Paper
- Wastewater Treatment
- Chemical Synthesis
- Food & Beverage
- Mining
- Textiles
- Cosmetics & Healthcare
- Others
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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