Hydrogen Peroxide Market Outlook - 2031
The global hydrogen peroxide market size 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. The hydrogen peroxide market growth is driven by rise in its demand in healthcare for disinfection and sterilization, particularly during the COVID-19 pandemic. In addition, its widespread use in the pulp and paper industry for bleaching and cleaning processes boosts market growth. Hydrogen peroxide’s effectiveness in these sectors, coupled with its environmentally friendly properties, enhances its adoption across various applications, supporting continued market expansion.
Hydrogen peroxide (H₂O₂) is a colorless, odorless liquid commonly used as a disinfectant, bleach, and oxidizing agent. It consists of water with an additional oxygen molecule, making it a highly reactive compound. It is often used in cleaning, sterilizing, and wound care due to its antimicrobial properties. In industrial applications, hydrogen peroxide is used in the production of chemicals, paper, textiles, and even as a propellant in rocket engines. It is a versatile compound, breaking down into water and oxygen when decomposed, which makes it an environmentally friendly option compared to other harsh chemicals.
The surge in its demand in healthcare and disinfection drives the hydrogen peroxide market growth. As a potent antimicrobial agent, hydrogen peroxide is widely used for cleaning, disinfecting surfaces, and sterilizing medical equipment, especially in hospitals and clinics. The increased focus on hygiene and infection control, especially during health crises such as the COVID-19 pandemic, has boosted its usage in healthcare settings. In addition, the effectiveness of hydrogen peroxide in wound care and as an antiseptic fuel its adoption in personal healthcare products. Rise in demand for disinfection solutions, along with growing healthcare infrastructure, continues to propel the market for hydrogen peroxide.
However, safety and handling concerns significantly restrain the growth of the hydrogen peroxide market due to its highly reactive and corrosive nature. Hydrogen peroxide can cause severe skin and eye irritation, and improper handling may lead to dangerous reactions, including explosions when concentrated. These risks require strict safety protocols during transportation, storage, and use, which increase operational costs. In addition, regulatory agencies impose stringent guidelines for its handling, limiting its widespread adoption in some industries. These safety concerns discourage smaller businesses from using hydrogen peroxide and complicate its integration into certain applications, thereby hindering market growth.
The expanding use of hydrogen peroxide in environmental and water treatment presents a lucrative opportunity for its market growth. Hydrogen peroxide is increasingly utilized for its strong oxidative properties in wastewater treatment, helping to remove pollutants, organic contaminants, and harmful chemicals. It is also used for oxygenating water, promoting the breakdown of pollutants in rivers, lakes, and groundwater. Its eco-friendly nature, breaking down into water and oxygen, makes it a preferred choice for sustainable water treatment solutions. As environmental regulations tighten and the demand for clean water grows, hydrogen peroxide's role in these applications is expected to rise, driving market expansion.
Segments Overview
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.
Competitive Analysis
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.
Hydrogen Peroxide Market Report Highlights
| Aspects | Details |
 By Application |
|
 By Region |
|
 Key Market Players | BASF, meghmani finechem limited, Indian Peroxide Ltd., Mitsubishi Gas Chemical Company, Arkema S.A., Taekwang Industrial Co. Ltd, Akzo Nobel, gujarat alkalies and chemical ltd, Nouryan, Solvay, Kemira Oyj, National Peroxide Limited, Evonik industries, cleartech industries, Hansol Chemicals |
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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