Overview and Scope
The hydrogen peroxide is a mild antiseptic that can be used on the skin to prevent infection or minor injuries. It is generally available in the form of aqueous solutions. It is used as an oxidizer, bleaching agent, and antiseptic in a dilute solution (3-6% by weight) in water for consumer use, and at higher concentrations for industrial use. Hydrogen peroxide can also be used to treat mouth ulcers and irritation, as well as for mouth rinsing.
Sizing and Forecast
The hydrogen peroxide market size has grown strongly in recent years. It will grow from $3.26 billion in 2023 to $3.47 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to pulp and paper industry demand, wastewater treatment applications, textile industry usage, consumer products manufacturing, medical and healthcare applications.
The hydrogen peroxide market size is expected to see strong growth in the next few years. It will grow to $4.6 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to growing environmental concerns, focus on water and wastewater treatment, rising demand for eco-friendly bleaching agents, expanding healthcare and pharmaceutical applications, advancements in hydrogen peroxide production, bioremediation and environmental cleanup. Major trends in the forecast period include increasing demand for eco-friendly applications, growing focus on sustainable production, surge in healthcare applications, innovations in packaging and storage, rise in food and beverage industry usage, technological advancements in production.
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Segmentation & Regional Insights
The hydrogen peroxide market covered in this report is segmented –
1) By Function: Bleaching, Oxidizing, Sterilizing/Disinfecting, Propulsion, Other Functions
2) By Grade: Standard, Chemical, Cosmetic, Aseptic, Food, Semiconductor
3) By End-Use Industry: Pulp And Paper, Chemical Synthesis, Healthcare And Personal Care, Food Processing, Textile, Water And Wastewater Treatment, Electronics And Semiconductor, Other End-Users
Asia-Pacific was the largest region in the hydrogen peroxide market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hydrogen peroxide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing demand for environmental-friendly solutions is driving the hydrogen peroxide market growth. Hydrogen Peroxide when mixed with other chemicals acts as a disinfectant and can be used to clean hospitals and houses. It is also cost-effective and can be recycled over and over again making it an environmentally friendly solution. For instance, in March 2022, according to Sensormatic Solutions, a US-based retail technology provider, subsidiary of by Johnson Controls a survey of 1000 U.S. consumers revealed an 80% focus on sustainability, with 70% expressing a willingness to pay more, emphasizing its crucial role. Additionally, 54% actively researching eco-initiatives, businesses face a shifting landscape, as half of consumers believe sustainability is imperative, shaping purchasing behaviors. Therefore, the increasing demand for environmental-friendly solutions is driving the hydrogen peroxide market growth.
Key Industry Players
Major companies operating in the hydrogen peroxide market report are Dow Inc., Hodogaya Chemical Co. Ltd., 3M Company, Merck KGaA, OCI Company Ltd., Evonik Industries AG, Reckitt Benckiser Group PLC, Grupa Azoty, Solvay SA, AkzoNobel N.V., Arkema SA, Kingboard Holdings Limited, FMC Corporation, Nouryon N.V., Aditya Birla Chemicals Limited, Huatai Group, Gujarat Alkalies And Chemicals Ltd., Mitsubishi Gas Chemical Company Inc., Kemira Oyj, Chang Chun Group Co. Ltd., Hansol Chemical, PeroxyChem LLC, National Peroxide Ltd., EkO Peroxide LLC, Guangdong Zhongcheng Chemicals, Indian Peroxide Limited, Thai Peroxide Co. Limited., PDI Healthcare Inc., Laboratorium Dr. Deppe GmbH
The hydrogen peroxide market report table of contents includes:
1. Executive Summary
2. Hydrogen Peroxide Market Characteristics
3. Hydrogen Peroxide Market Trends And Strategies
4. Hydrogen Peroxide Market – Macro Economic Scenario
5. Global Hydrogen Peroxide Market Size and Growth
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31. Hydrogen Peroxide Market Other Major And Innovative Companies
32. Global Hydrogen Peroxide Market Competitive Benchmarking
33. Global Hydrogen Peroxide Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Hydrogen Peroxide Market
35. Hydrogen Peroxide Market Future Outlook and Potential Analysis
36.Appendix
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