Wide applicability across different industrial segments and growing demand from Pulp and Paper Industry are prime factors driving the growth of the global hydrogen peroxide market in the forecast period 2024-2028.
According to TechSci Research report, “Hydrogen Peroxide Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, the global hydrogen peroxide market is anticipated to register an impressive CAGR in the forecast period 2024-2028. Hydrogen peroxide carries significant importance as an oxidant with applications in many industries from paper manufacturing to cosmetics. Due to its ability to get decomposed only to H2O and O2, it is regarded as a green chemical. There exist methods of preparation that tend to synthesize hydrogen peroxide at large volumes efficiently, but it can be detrimental to the environment causing harmful effects on the surroundings. However, several methods have been discovered to safely prepare Hydrogen Peroxide such as electrocatalysis, photo electrocatalysis, or photo catalysis. The pulp and Paper Industry is a major end-user industry as there is robust demand from the pulp and paper industry. To cater to consumer needs, several capacity expansions programs have been launched to fulfill the requirements and boost the sales volume in 2021-2022. Companies that are pioneers in producing per oxygen chemicals are raising their production capacity from their current capacity levels, which will result in lifting both its topline and bottom-line figures in the upcoming years. Due to considerable reductions in production costs, manufacturers are keeping competitive pricing to beat the market headwinds.
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The Global Hydrogen Peroxide Market is segmented based on Grade, Type and Application, Region and Competitive landscape.
Based on grade, the market is bifurcated into <35% and >35%. As per market estimation, >35% segment is likely to hold maximum market share in the global market. Global market is categorized into distinct molar concentrations of hydrogen peroxide. The marketing strategy of this green chemical based on the grade is formulated according to the applications. For instance, less than 35% are utilized in home care, personal care, and specialty applications, whereas higher concentrations of more than 35% are generally utilized in paper and pulp, textile, chemical, and wastewater management. To ensure the effective efficacy of the product, high adoption of higher concentrations of more than 35% is witnessed, which is the crucial factor driving the growth of the Global Hydrogen Peroxide Market in the forecast period.
Based on Type, the market is segmented into Disinfectant, Bleaching Agent, and Others. As per the TechSci research estimates, bleaching agent is likely to hold the maximum share in global hydrogen peroxide market. Hydrogen peroxide delivers high bleaching effects at an effective cost price and maintains the fiber quality intact. Additionally, bleaching in paper and textile manufacturing through hydrogen peroxide chemical also helps in the extraction of alkaline which has significant application in the field of molecular biology like isolating plasmid DNA from bacteria.
Based on Application, the market is fragmented into Pulp & Paper, Chemical synthesis, Textile, Bleaching, Water Purification, Home & Personal Care, Specialty Chemicals, and others. Pulp & Paper industry captures the largest market share in Global Hydrogen Peroxide Market for industrial and household applications. It is utilized as an ideal bleaching agent which exhibits exceptional mechanical and chemical properties. Finished products also reflect few material characteristics like quality improvement, lower production and processing cost, and sustainability. Due to the surge in the demand for high-quality paper for packaging and sanitary applications, it is expected that the Pulp & Paper industry will bolster the growth of the market in the forecast period. As per the latest tracking report released on September 2022 by International Energy Agency (IEA), Paper production has tremendously increased and reached a record peak of 415 MT in 2021 and is expected to reach newer peaks in the forecast period.
Major companies operating in global hydrogen peroxide market are:
- Solvay S.A.
- Arkema S.A.
- Evonik Industries AG
- Mitsubishi Gas Chemicals Company
- Nouryon Holding B.V.
- FMC Corporation
- Santoku Chemicals Industries Co., Ltd.
- Chang Chun Petrochemical Co., Ltd
- Hansol Chemical Co. Ltd.
- Kemira Oyj
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“Owing to the significant growth of end-use applications in global hydrogen peroxide market, APAC region will likely lead the global market share in both value and volume in the forecast period. Moreover, due to the rise of textile applications in countries across APAC region, huge demand of hydrogen peroxide as a bleaching agent is anticipated to drive the market growth in the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Hydrogen Peroxide Market- Global Industry Size, Share, Trends, Opportunity, and Forecast., 2018-2028, Segmented By Grade (<35% and >35%), By Type (Disinfectant, Bleaching Agent, and Others), By Application (Pulp & Paper, Chemical Synthesis, Textile, Bleaching, Water Purification, Home & Personal Care, Specialty Chemicals and Others), By Region,” has evaluated the future growth potential of Global Hydrogen Peroxide Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global hydrogen peroxide market.”
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