USD 5.66 billion
Report ID:
SQMIG15A2116 |
Region:
Global |
Published Date: July, 2024
Pages:
184
|Tables:
122
|Figures:
77
Hydrogen Peroxide Market size was valued at USD 3.16 billion in 2022 and is poised to grow from USD 3.32 billion in 2023 to USD 4.90 billion by 2031, growing at a CAGR of 5.01% during the forecast period (2024-2031).
The market for hydrogen peroxide is growing at a fast pace in the global market due to its utility in different industries including pulp and paper industry, textile industry, electronics, and healthcare industry. Hydrogen peroxide has a major application in industries such as the pulp and paper industries for use in bleaching. Some of them include the rising demand for earth friendly and environmentally sustainable bleaching agents because of environmental conservation.
Moreover, increased awareness levels and the support given by various governments for the use of environmentally friendly chemicals has also helped fuel market growth. For example, the EU regulation on REACH has set very strict rules to the use of chemicals that have shifted industries to using safer products such as hydrogen peroxide. In the healthcare segment, the Coronavirus brought into focus the efficacy of disinfectants which gave a boost to hydrogen peroxide solutions in the market.
In addition, the electronics industry is using hydrogen peroxide in the manufacturing of semiconductors, and the printed circuit boards attributed to the increasing demand for consumer products as well as technological developments. Regionally, Asia-Pacific is the largest market of chiral chemicals due to countries such as China and India being major production hubs mainly due to the growing industrial sector and supportive government policies. For Instance, National University of Singapore (NUS) researchers have developed a microporous covalent organic framework with dense donor–acceptor lattices and engineered linkages for the efficient and clean production of hydrogen peroxide (H2O2) through the photosynthesis method with water and air.
US Hydrogen Peroxide Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 5.66 billion
Largest Segment
Disinfectant
Fastest Growth
Disinfectant
Growth Rate
6.82% CAGR
To get more reports on the above market click here to Buy The Report
Hydrogen Peroxide market is segmented based on grade, application, end-use industry and region. Based on grade, the market is segmented into 90% H2O2, 35% H2O2, 6 TO 10% H2O2, and 3% H2O2. Based on application, the market is segmented into Chemical Synthesis, Bleaching, Disinfectant, Cleaning and Etching, and Others. Based on end use industry, the market is segmented into Pulp & Paper (Chemical Pulp, Mechanical Pulp, Recycled Pulp), Food & Beverages (Sterilization, Antimicrobial Agent, Oxidizing & Bleaching Agent), Water Treatment, Textiles & Laundry, Oil & Gas, Healthcare, Electronics, Others (Mining & Metallurgy, Transportation, Recycling). Based on region the global hydrogen peroxide market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Hydrogen Peroxide Market Analysis by Grade
By grade, the dominating segment is the hydrogen peroxide segment that contains 35% of H2O2. This concentration is mainly applied in pulp and paper application where the bleaching mechanism requires high purity and efficiency. Furthermore, dilute solution of 35% H2O2 is widely used in the textile industry for bleaching and as a pre-treatment to dyeing. This factor is largely in view of the extraordinary growth of these industries especially in emerging economies. Furthermore, its application in water management especially in the water waste treatment and as a disinfectant in hospitals because of the emerging trends of sustainability and cleanliness enhance its strong market position.
On the other hand, the fastest growing segments is the 90% H2O2 which is experiencing the fastest growth. This is a high-concentration hydrogen peroxide mostly used in rocket and missile applications, which have increased in demand due to increased spending in aerospace and defense. There is a growing number of space exploration activities, and the use of satellites also enhances the need for the product known as 90% H2O2. Further, its usage in chemical manufacturing, especially in the synthesis of chemicals, and in the capacity of the oxidizing agent in a few manufacturing procedures is increasingly popular. The growth of this segment is fueled by the trend towards the use of advanced and high-efficiency materials and manufacturing technologies.
Hydrogen Peroxide Market Analysis by End use Industry
The pulp and paper segment occupied a global hydrogen peroxide market share of 36% in 2023, presenting the largest growing segment in the market. For instance, according to some studies, H2O2 is known to be used in the world for about 60% of all output used for bleaching pulp and paper. The product is recognized as a chlorine-free product, making it a staple in the pulp and paper industry worldwide. The dye is effectively used to enhance the mechanical and chemical properties of the paper and increase its gloss. As it reduces manufacturing costs, provides high-quality products, ease of use and is environmentally friendly, it has created increased demand in the industry.
On the other hand, the fastest growing segment is the Healthcare industry. The growth of this segment is justified by the increased demand for hydrogen peroxide, primarily as a disinfectant and antiseptic due to the COVID-19 outbreak. The fact that cleanliness and disinfection are given increased attention in healthcare structures, and the effectiveness of using hydrogen peroxide against pathogens, contributes to the fast uptake of the compound. Further, advancements in hydrogen peroxide-based sterilization technologies and its use in the treatment of wounds and in dentistry are other thrust area that are fueling the growth of this segment.
To get detailed analysis on other segments, Request For Free Sample Report
Asia-Pacific accounted for 42% of the global hydrogen peroxide market by 2023, driven by the growing influence of the medical, personal care and pharmaceutical industries in the region. Driving factors such as low cost of land, labor and their level of maturity and improved balance of trade. In the regions like China, India, South Korea and Japan with the focus of multinational companies in various sectors seeking to expand their operations. Also, diseases of water continued prevalence in the region has led to increased demand.
On the other hand, the region that has the fastest growth rate in the hydrogen peroxide market is Europe, where hydrogen peroxide’s demand is increasing due to the growing emphasis on environmental protection and the use of environmentally friendly products in commercial and industrial settings. Also, increasing the chemical synthesis abilities and the usage hydrogen peroxide in disinfection and sterilizing in healthcare sectors among other sectors are some of the factors driving the growth of the market. Some of the key markets for growth are Germany, France and UK among others, whereby technologies are being deployed in increasing production effectiveness.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Hydrogen Peroxide Market Drivers
Robust growth in paper industry is driving the hydrogen peroxide market:
Increasing awareness about personal hygiene is driving the hydrogen peroxide market:
Hydrogen Peroxide Market Restraints
Navigating Regulatory Hurdles:
Challenges of Substitution and Price Volatility:
Request Free Customization of this report to help us to meet your business objectives.
The competitive landscape of the global hydrogen peroxide market is characterized by intense rivalry and a diverse array of key players vying for market share in this rapidly evolving industry. These players compete based on factors such as product portfolio, technological advancements, pricing strategies, and market reach. They use their huge experience to give a wide range of solutions. Key players in the industry always put their money into research and development. Market players focus on strategic collaborations, partnerships, and mergers and acquisitions to expand their market presence and gain a competitive edge. To remain competitive in the market, companies are focusing on strategic partnerships and collaborations, mergers and acquisitions, and investing in research and development.
Hydrogen Peroxide Market Top Player’s Company Profiles
Hydrogen Peroxide Market Recent Developments
In January 2024, Solvay announced that it is expanding the capacity of its Shandong Huatai Interox Chemical site in China. Building on its existing partnership with Huatai Chemical, the strategic alliance will enable the site to produce 48 kilotons of photovoltaic-grade hydrogen peroxide annually by 2025.
In January 2024, U.S. Food and Drug Administration announced that it considers vaporized hydrogen peroxide (VHP) to be an established method of sterilization for medical devices. The FDA has revised the final guidance, Submission and Review of Sterility Information in Premarket Notification (510(k)) Submissions for Devices Labeled as Sterile, to list VHP as an example of an Established Category A method of sterilization.
In October 2023, Dow with partnership with Evonik announced the successful start-up and operation of a pioneering hydrogen peroxide to propylene glycol (HPPG) pilot plant at Evonik’s site in Hanau, Germany. The plant uses the distinct HYPROSYN method to enable the direct synthesis of propylene glycol (PG) from hydrogen peroxide and propylene.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to SkyQuest analysis, the hydrogen peroxide market is characterized by high demand for pulp and paper industry across the globe, especially in the Asia-Pacific region, where the projected strong growth is expected. This increase is attributed to the environmental friendliness of hydrogen peroxide and its low production cost. It is widely used in many industries including textiles, water treatment, energy, pharmaceuticals and semiconductors. Of these, the pulp and paper industry accounts for the largest share, mainly because chemicals such as hydrogen peroxide are required to produce shiny and uniform paper products. Additionally, the market is being propelled by increased attention towards water treatment, rising demands from the food industry, and the healthcare sector. Overall it seems that continued research and advancement may expand its growth and use in various applications.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 3.16 billion |
Market size value in 2031 | USD 4.90 billion |
Growth Rate | 5.01% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
Regions covered | 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) |
Companies covered |
|
Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the 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 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.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Hydrogen Peroxide Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Hydrogen Peroxide Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATIONWant to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Report ID: SQMIG15A2116