Global Hydrogen Peroxide Market

Hydrogen Peroxide Market Size, Share, Growth Analysis, By Grade(90% H2O2, 35% H2O2, 6-10% H2O2, 3% H2O2), Application(Chemical Synthesis, Disinfectant, Bleaching, Cleaning & Etching, Other), Industry(Pulp & Paper, Food & Beverage, Textile, Oil & Gas, Other), and Region - Industry Forecast 2024-2031


Report ID: SQMIG15A2116 | Region: Global | Published Date: July, 2024
Pages: 184 | Tables: 122 | Figures: 77

Hydrogen Peroxide Market Dynamics

Drivers 

Rise in Use of Disinfectants in Water Treatment Industry

  • The application of hydrogen peroxide in water treatment systems has been expanding due to its excellent oxidizing, odor-controlling, and disinfecting properties. It is crucial for water filtration as it gets rid of bacteria, breaks down organic pollutants, and controls unpleasant smells. Hydrogen peroxide will establish itself as a chlorine-free alternative with strict environmental legislation, bound by growing concerns over chlorine's disinfection byproducts. Growing focus on sustainability and compliance with legislation, combined with rising adoption of hydrogen peroxide as a green water treatment agent, is expected to further enhance the market. 

Wide Range of Applications to Support Market Growth  

  • There are several uses for hydrogen peroxide in commercial, industrial, and domestic contexts. Due to its strong bleaching properties, it is suitable for bleaching paper and fabrics. In the medical field, it is used as an antiseptic and antibacterial agent. It is an excellent disinfectant and oxidizer for use in food applications, housekeeping, personal hygiene, and water purification. This wide range of uses is driving the growth of the hydrogen peroxide market. 

Restraints

Potential Health Concerns Could Prohibit Product Adoption  

  • Due to its strong oxidizing qualities, the substance could be damaging to the respiratory system, eyes, and skin. If not properly managed, prolonged contact can irritate the skin and eyes, bleach the hair, and cause skin bleaching. Moreover, the fact that it is incompatible with most raw materials, such as copper alloys and heavy metals, causes self-accelerated thermal degradation. It needs to be handled and stored carefully to avoid any health dangers.  
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FAQs

Global 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). 

Global competition has been intense due to the abundance of well-known brands on the market. Increasing competition in the global market has led to the launch of several new goods, which have been followed by project extensions, technical patents, and process modifications by large multinational companies. Most of the major industry participants involved in the product's manufacturing are witnessed to have long-term agreements with regional level personal care, healthcare, wastewater treatment, textile, and chemical manufacturing companies to build sustainable businesses in the regional ecosystem and grow their market share.  'Solvay S.A. ', 'BASF SE ', 'The Dow Chemical Company ', 'PeroxyChem LLC ', 'Aditya Birla Chemicals ', 'Ecolab Inc. ', 'Thai Peroxide Co., Ltd. ', 'OCI Company Ltd. ', 'Arkema Group ', 'Evonik Industries AG', 'Akzo Nobel N.V. ', 'National Peroxide Limited ', 'Ak-Kim Kimya ', 'Anhui Jinhe Industrial Co. Ltd. ', 'Solvay Chemicals Inc. '

Among other things, food-grade hydrogen peroxide is used as a bleaching and antibacterial agent in the manufacturing of cheese and instant tea. Moreover, it is approved for use as a sterilizing agent in aseptic packaging. To adjust to the changing demands of their customers, firms are consequently introducing new grades.  

Asia Pacific held the largest market share of 42% in 2023 and is likely to continue the same position during the forecast period. This is attributed to a rise in the application base in the pharmaceuticals and chemical formulators industries, combined with personal care products in this region. China, India, Thailand, South Korea, and Japan have emerged as key hubs for multinational firms operating in numerous industries to expand their business operations in the country due to their lower land prices, greater trade balance, and access to trained workforce. 

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Global Hydrogen Peroxide Market

Report ID: SQMIG15A2116

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