According to the latest report by IMARC Group, titled “Hydrogen Peroxide Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global hydrogen peroxide market size reached US$ 4.2 Billion in 2018. Hydrogen peroxide (H?O?) is a chemical compound that is characterized by a pale blue color. A combination of hydrogen and water, it is a clear liquid in its pure form and is slightly more viscous than water. Although it is non-flammable in nature, it is unstable and readily decomposes into oxygen and water while releasing heat and can cause combustion on contact with organic materials. It is used as a mild antiseptic on the skin to prevent infection caused by scrapes, burns and minor cuts. It is also utilized as a bleaching agent in the paper and pulp industry owing to its strong oxidizing properties. Additionally, it also used across numerous other industry verticals in the manufacturing of various products, such as disinfectants, bleaches, hair relaxers, ear drops, toothpaste, antiseptic mouthwash, and hair relaxers.

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Global Hydrogen Peroxide Market Trends:

The significant growth in various end use industries is primarily driving the growth of the market. Apart from being utilized as a bleaching agent, hydrogen peroxide is widely used in the paper and pulp industry for the production of chemical, mechanical and recyclable pulps. The rising demand for paper and pulp from packaging and pharmaceutical industries, along with the escalating demand for high-quality paper from the print media, is creating a positive outlook for the market. Moreover, since this chemical compound is also used in the agricultural sector to improve crop yield, the thriving agricultural industry is expected to impact the market growth favorably. Additionally, the advent of the Hydrogen Peroxide to Propylene Oxide (HPPO) technology is further driving the market toward growth. Developed collaboratively by ThyssenKrupp Industrial Solutions and Evonik Industries, the HPPO technology is an environment friendly process wherein hydrogen peroxide is employed as the primary raw material for the production of propylene oxide. The rising demand for propylene oxide from various industries, such as automotive, construction, and food and beverage industries, thus, in turn, is expected to catalyze the market growth. Furthermore, several initiatives undertaken by governments of various countries have spurred the demand for hydrogen peroxide for water treatment and pollution control applications. On account of the aforementioned factors, the market is projected to reach a value of US$ 5.6 Billion by 2024, expanding at a CAGR of 4.9% during 2019-2024.

Market Summary:

• On the basis of the application, the market has been divided into chemical synthesis, bleaching, disinfectant, cleaning and etching, and others. Amongst these, chemical synthesis exhibits a clear dominance in the market.
• Based on the end use, the market has been segregated into pulp and paper, food and beverages, water treatment, textiles and laundry, oil and gas, healthcare, electronics, and others. At present, pulp and paper account for the majority of the total market share.
• On the geographical front, Asia Pacific holds the leading position in the market. Other key regions include Europe, Middle East and Africa, North America, and Latin America.
• The competitive landscape of the market has been studied with the detailed profiles of the key players operating in the market. Some of these players include Solvay, Evonik Industries AG, Arkema group, Kemira Oyj, FMC Corporation, EkO Peroxide LLC (acquired by AkzoNobel), Mitsubishi Gas Chemical Company, Inc., PeroxyChem LLC, Aditya Birla Group, Kingboard Holdings Limited, BASF SE, Merck & Co., Inc., Chang Chun Group, Guangdong Zhongcheng Chemicals Inc., Ltd. and Hansol Chemical Co. Ltd.

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The Global Hydrogen Peroxide Market is subject to witness a substantial growth due to the growing demand from paper & pulp industries. The hydrogen peroxide is commonly used as oxidizer, bleaching agent and antiseptic due to its superior chemical properties. In addition, soaring demand for hydrogen peroxide from chemical sector because of increasing number of application is expected to fuel the growth of hydrogen peroxide market in the upcoming years.

Growing demand for hydrogen peroxide from pharmaceutical and personal care industry is a major catalyst for market growth in the recent years. Globally, the market is predicted to generate massive revenue in the forecast period, providing numerous opportunities for market players to invest in research and development of the hydrogen peroxide industry. Growing demand for paper & pulp from packaging, commercial sectors and pharmaceuticals is predicted to foster market growth over the next few years. In addition, hydrogen peroxide is also used in numerous application involving disinfectant, bleaching agent, protection agent and purification of wastewater.

Soaring demand from paper & pulp industry is considered as one of the key driving factor for robust market growth of hydrogen peroxide industry in the last few years. Growing demand for hydrogen peroxide from oral care & cosmetic sector is attributed to its oxidizing and antiseptic properties thus propelling market growth, in the recent years. Growing demand for hydrogen peroxide from various end-use industries such as paper & pulp, chemicals, medicine, oral care and cosmetics, electronics & electrical, and agriculture sector is expected to offer lucrative growth opportunities for industry participants over the forecast period.

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Hydrogen peroxide as an oxidizing agent is gaining traction within chemical sector, in the last few years. Hydrogen peroxide has superior chemical properties that is vital during production of sodium per carbonate and sodium perborate. Rise in domestic uses of hydrogen peroxide, primarily as a cleaning and disinfecting agent is propelling market growth further. Moreover, hydrogen peroxide has found numerous application in personal care, oral care and cleaning products due to its properties such as bleaching, tooth whitening, oxidizing, and disinfectant. Application of the hydrogen peroxide include sterilization, toothpastes, sanitizer, mouth wash and hair dyes. These factors are anticipated to drive the growth of hydrogen peroxide market in the upcoming years. Moreover, increasing adoption of hydrogen peroxide from agriculture sector to improve overall crop yield is predicted to boost market demand in the near future. Hydrogen peroxide is also used as a cleaning agent in electronic industry.

The pulp & paper industry is considered as one of the fastest growing segment in the hydrogen peroxide market with substantial revenue generation in the last few years. Growing demand for hydrogen peroxide from pulp & paper industry is attributed to superior chemical properties and cost efficiency. Industrial hydrogen peroxide, which is used as a bleaching agent in the pulp & paper industry, is most considered as eco-friendly in nature. In addition, declining manufacturing cost, easy availability, and high performance are some of the key advantages of hydrogen peroxide. Industrial hydrogen peroxide improve intensity levels and increases the brightness stability of pulp & paper.

The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in chemical manufacturing sector, high number of manufacturing units, soaring demand form demand from paper & pulp industries, and existence of well-established industrial infrastructure. Asia-Pacific region is predicted to hold major market share in the hydrogen peroxide market with massive growth in forecast period.

Countries such as India, China and Japan are leading the Asia-Pacific market with rapid industrialization, strong economic growth, growing demand from various end-user industries, and significant investment by leading industry players considering potential growth opportunities in the region. The key players in the hydrogen peroxide market are Solvay S.A., Evonik Industries A/G, Arkema S.A., National Peroxide Ltd., and Mitsubishi Gas Chemical Co.

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