USD 5.4 billion
Report ID: SQMIG15A2116 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 122 | Figures: 77
Hydrogen Peroxide Market size was valued at USD 5.4 billion in 2021 and is poised to grow from USD 5.65 billion in 2022 to USD 8.6 billion by 2030, growing at a CAGR of 5.2% in the forecast period (2023-2030).
One of the key components utilized to make these disinfectants and sanitizing products is hydrogen peroxide. For instance, a standard disinfectant normally consists of the following ingredients: chlorine dioxide, 0.5% to 1% peroxyacetic acid, a small amount of isopropyl alcohol, and 3% to 4% hydrogen peroxide. Growing healthcare industry demand for the product as a result of its antiseptic qualities is anticipated to continue to be a major driver of market expansion. The substance is widely sought-after in the healthcare industry as an antiseptic, which is usually applied to skin cuts and bruises to prevent infections. Due to its capacity to reduce mouth irritation, mucus, and other oral infections, it is also frequently used as a mouth rinse. The material primarily releases oxygen, which causes foaming on the bruised and cut skin and ultimately results in the efficient elimination of dead skin while protecting the wound from infection.
US Hydrogen Peroxide Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 5.4 billion
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Global Hydrogen Peroxide Market is segmented based on function, grade, application, sales channel and region. Based on function the market is segmented into disinfectant, bleaching, oxidant, and others. Based on Grade the market is segmented into <35%, and >35%. Based on Application the market is segmented into pulp & paper, chemical synthesis, wastewater treatment, mining, food & beverages, personal care, healthcare, textiles, and others. Based on Sales Channel the market is segmented into Direct Sale, and Indirect Sale. Based on region the global Hydrogen Peroxide Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Function
During the projected period, the bleaching segment dominated the global Hydrogen Peroxide market in 2022. The substance has a wide range of uses as a bleaching agent in several industries, including pulp & paper, medicine, and textiles. The product is quite helpful in the medical field as a dental bleach, hair bleach, mouthwash, and for maintaining oral hygiene. The textile industry uses a bigger amount of the material as bleach, where it is frequently used to brighten clothing and remove stains from both synthetic and natural fibers. It is employed in the production of fabrics as well since it helps improve the mechanical qualities of fibers.
Analysis by Application
During the projected period, the pulp and paper segment dominated the global Hydrogen Peroxide market in 2022. Similar to bleach, the substance is acknowledged as a chlorine-free element, making it a crucial component of the pulp and paper industry across the world. It is utilized properly to enhance the mechanical and chemical qualities of pulp and raise the quality and brightness of paper. As it lowers production costs, offers better quality, is simple to use, and is environmentally benign, it has created a rising demand in the business.
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The Asia-Pacific region is anticipated to dominate the global Hydrogen Peroxide market. This is explained by the growing influence of the medical, personal care, and chemical formulating businesses in the area. Due to cheaper land prices, the availability of skilled labor, and an improved trade balance, China, India, Thailand, South Korea, and Japan have emerged as important centers for multinationals operating in various sectors to develop their business practices in the nation. Also, Due to the long-term prevalence of water-borne illnesses in the region,
North America is seen as being at the forefront of the wastewater treatment sector. Every day, the U.S. purifies more than 34 billion gallons of contaminated water to make it safe for locals to drink. One of the main requirements in the nation is the removal of phosphorus and nitrogen from water sources, along with the oxidation of wastewater. This has ultimately resulted in a significant use of hydrogen peroxide throughout the nation's industries.
Also, Hydrogen peroxide usage in the region is rising as a result of the expanding demand for various personal care products in the European market. Its oxidizing and antibacterial qualities are the main reasons for the product's rising demand in this application. In nations including the United Kingdom, France, Italy, Germany, and Spain, cosmetics and personal care items like skincare creams and lotions have seen tremendous growth. This is mostly attributable to the increased market penetration of cosmetic manufacturers in these nations.
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From a global perspective, The market has been characterized by intense competition due to the presence of several recognized brands. Rising competition in the global market space that led to several new product launches, followed by process reform adopted by these multinationals, patented technologies, and project expansions. The majority of the key industry participants involved in manufacturing product are observed to have long-term agreements with regional level personal care, wastewater treatment, textile, healthcare, and chemical manufacturing companies to establish sustainable businesses in the regional ecosystem and increase their market share.
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According to our global hydrogen peroxide market analysis, growing demand from various end-use industries, rising awareness about the benefits of hydrogen peroxide, increasing focus on water treatment, growing demand from the food industry and growing demand from the healthcare industry are several factors are driving the market growth.
|Market size value in 2021
|USD 5.4 billion
|Market size value in 2030
|USD 5.65 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
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For the Global Hydrogen Peroxide Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Hydrogen Peroxide Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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