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 News

 

  • In January 2024, Solvay and Huatai announced plans to increase its production of hydrogen peroxide in China. Increasing demand for hydrogen peroxide in the solar sector as a cleaning agent in the manufacturing process of photovoltaic cells prompted the decision to increase their production capacity. As part of the expansion plan, the joint venture is projected to manufacture 48,000 tons of photovoltaic-grade hydrogen peroxide annually starting 2025. 
  • In April 2020, Gujarat Alkalies and Chemicals announced the partial commencement of operations at the polyaluminum chloride plant and the hydrogen peroxide plant located at Dahej.  
  • In June 2020, Nouryon revealed its plan to build an advanced manufacturing unit at its existing operations site in Ningbo, China. This would produce two key intermediates for the company's organic peroxide business. 
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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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