Hydrogen Peroxide Market Research, 2031
The global hydrogen peroxide market was valued at $5.4 billion in 2021, and is projected to reach $8.9 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031.
Hydrogen peroxide is a compound, which is composed of oxygen and hydrogen and is widely used across different industrial verticals. The compound possesses myriad properties such as antiseptic and efficient bleaching properties which makes it highly suitable in healthcare and paper & pulp industries.
Rise in demand from pulp & paper industry and wide applications of hydrogen peroxide are anticipated to propel the growth of the hydrogen peroxide market. In addition, surge in demand for the product from the healthcare industry owing to its antiseptic properties is anticipated to drive the market growth. However, health and environmental hazards associated with hydrogen peroxide is projected to hamper the steady growth of the market. Nonetheless, rise in demand for hydrogen peroxide in the wastewater treatment industry is anticipated to create lucrative opportunities for the growth of the hydrogen peroxide market.
The hydrogen peroxide market is segmented on the basis of application and region. On the basis of application, the market is categorized into pulp & paper, chemical synthesis, wastewater treatment, mining, food & beverage, personal care, textile, healthcare, and others. The pulp and paper segment dominated the global hydrogen peroxide market in terms of revenue, in 2021, owing to the upsurge in usage of hydrogen peroxide in industrial applications, as well as the use of hydrogen peroxide as disinfectants, will provide enormous development prospects. The regional market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific held the highest share of the global hydrogen peroxide market in 2021 owing to the use of hydrogen peroxide in various industries such as textile, water treatment, power and chemicals, semiconductors, etc.
GLOBAL HYDROGEN PEROXIDE MARKET, BY REGION
By region, Asia-Pacific dominated the market with the highest revenue share in 2021. Asia-Pacific is projected to register a robust growth during the forecast period. Owing to its environmental friendliness and low manufacturing cost, hydrogen peroxide is used in various industries such as textile, water treatment, power & chemicals, semiconductors, etc. The pulp and paper industry holds the largest share of the end-use segment of the hydrogen peroxide Asia Pacific market due to the widespread use of chemicals to improve gloss and stability. The outbreak of COVID-19 has affected the economies and industries of various countries due to repeated government blockades, travel bans, supply chain disruptions, and sudden business closures. However, the increased use of hydrogen peroxide in the pharmaceutical industry and healthcare facilities has led to increased demand for chemicals and has contributed to the growth of the hydrogen peroxide market in the Asia-Pacific region.
GLOBAL HYDROGEN PEROXIDE MARKET, BY APPLICATION
On the basis of application, the pulp and paper segment dominated the global hydrogen peroxide market in terms of revenue, in 2021. Hydrogen peroxide is often used in the pulp and paper industry as a flexible bleach for chemical pulp, mechanical pulp bleaching (as the only or dominant bleaching chemical), and paper recycling with printing ink removal (de-inking). The bleaching conditions can be varied to accommodate equipment limits and temperature levels. The pulp and paper industry is continuously adapting to evolving consumer demand and trends. The rise in usage of hydrogen peroxide in industrial applications, as well as the use of hydrogen peroxide as disinfectants, are expected to provide enormous development prospects. However, replacements have become more widely available. The transportation of hydrogen peroxide and the influence of hydrogen peroxide on human health are anticipated to provide challenges to market participants' expansion.
The major players operating in the industry include Akzo Nobel NV, Arkema S.A., BASF, ClearTech Industries, Evonik Industries, Gujarat Alkalies and Chemicals LTD, Hansol chemicals, Indian Peroxide Ltd., Kemira Oyj, Meghmani Finechem Limited, Mitsubishi Gas Chemical Company, National Peroxide Limited, Nouryan, Solvay, and Taekwang Industrial Co. Ltd. These players have adopted acquisition, partnership, business expansion, and agreement as their key strategies to increase their market shares.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hydrogen peroxide market analysis from 2021 to 2031 to identify the prevailing hydrogen peroxide market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the hydrogen peroxide market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global hydrogen peroxide market trends, key players, market segments, application areas, and market growth strategies.
COVID-19 Analysis:
The COVID-19 pandemic negatively impacted the demand for hydrogen peroxide from a wide range of end-use sectors, including pulp & paper, chemical synthesis, food processing, textile, water & wastewater treatment, and electronics & semiconductor. COVID-19 affected the paper and pulp industry since it uses hydrogen peroxide as a bleaching chemical. In contrast, it is used as an oxidant in the mining sector. As a result of the pandemic, several industries were compelled to temporarily halt operations, prompting the industry to restrict the use of bleaching chemicals and oxidants, cutting demand for hydrogen peroxide. Rising demand from the paper and pulp industry, as well as rising use of hydrogen peroxide in various end-use sectors are expected to drive market growth.
China is the world's largest manufacturing hub and the top raw material provider for many sectors, and disruptions in the country's operations are harming several enterprises from all other nations that rely on its manufacturing industry. The global market breakdown caused by the spread of COVID-19 is having an impact on the growth of the market for hydrogen peroxide used in disinfection/sterilization applications. To treat or prevent COVID-19, some patients use asthma nebulizers to inhale hydrogen peroxide. The hydrogen peroxide mouth rinse had no effect on the intraoral virus load. Only one baseline specimen had a replicating virus. In countries such as the U.S., Canada, Australia, and New Zealand, hydrogen peroxide is used as a bleaching agent in foods such as wheat flour, edible oil, and egg white. Owing to the importance of hygiene following the COVID-19, hydrogen peroxide is primarily used as an antibacterial agent in food, such as milk, and as a sterilizing agent for food packaging materials. Consumer demand was impacted by health concerns and consumers were more concerned about food safety during the COVID-19 pandemic. Sales initially increased as customers' concerns about food safety and their health pushed purchases. Furthermore, increased sales of healthcare & personal care, food processing items in China via for particular medicinal needs have created momentum in the region for hydrogen peroxide market. Health problems associated with long-term exposure to hydrogen peroxide, as well as poor circumstances induced by COVID-19's influence, are impeding market expansion.
Hydrogen Peroxide Market Report Highlights
| Aspects | Details |
 By Application |
|
 By Region |
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 Key Market Players | Indian Peroxide Ltd., National Peroxide Limited, Mitsubishi Gas Chemical Company, gujarat alkalies and chemical ltd, BASF, Arkema S.A., Evonik industries, Taekwang Industrial Co. Ltd, Nouryan, meghmani finechem limited, Kemira Oyj, Solvay, Akzo Nobel, Hansol Chemicals, cleartech industries |
Analyst Review
According to the opinions of various CXOs of leading companies, the hydrogen peroxide market is driven by rise in demand for pulp & paper globally and the increase in product use in the Hydrogen Peroxide to Propylene Oxide (HPPO) process in propylene oxide production.
Moreover, Asia-Pacific is projected to register a robust growth during the forecast period. Due to its environmental friendliness and low manufacturing cost, hydrogen peroxide is used in various industries such as textile, water treatment, power and chemicals, semiconductors, etc. The pulp and paper industry holds the largest share of the end-use segment of the hydrogen peroxide Asia Pacific market due to the widespread use of chemicals to improve gloss and stability. The outbreak of COVID-19 has affected the economies and industries of various countries due to repeated government blockades, travel bans, supply chain disruptions, and sudden business closures. However, the increased use of hydrogen peroxide in the pharmaceutical industry and healthcare facilities has led to increased demand for chemicals and has contributed to the growth of the hydrogen peroxide market in the Asia-Pacific region.
Rise in demand from pulp & paper industry and wide applications of hydrogen peroxide are anticipated to propel the growth of the hydrogen peroxide market.
Pulp and paper is the leading application of Hydrogen Peroxide Market
Asia-Pacific is the largest regional market for Hydrogen Peroxide
The global hydrogen peroxide market was valued at $ 5.37 billion in 2021, and is projected to reach $ 8.90 billion by 2031, registering a CAGR of 5.2% from 2022 to 2031.
The major players operating in the industry include Akzo Nobel NV, Arkema S.A., BASF, ClearTech Industries, Evonik Industries, Gujarat Alkalies and Chemicals LTD, Hansol chemicals, Indian Peroxide Ltd., Kemira Oyj, Meghmani Finechem Limited, Mitsubishi Gas Chemical Company, National Peroxide Limited, Nouryan, Solvay, and Taekwang Industrial Co. Ltd.
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