Hydrogen Peroxide Market Research Report – Global Forecast till 2030

Hydrogen Peroxide Market: Information by Grade (Standard, Chemical, Aseptic, Semiconductor), Application (Bleaching, Oxidation, Environmental), End-Use Industry (Pulp & Paper, Chemicals, Textile, Food & Beverage), and Region — Forecast till 2027

ID: MRFR/CnM/5927-HCR | January 2023 | Region: Global | 140 Pages         

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Hydrogen Peroxide Market

Hydrogen peroxide market value would increase about USD 5,499.99 million by 2027 and the CAGR value would grow at 4.3%.

By Grade Standard Chemical Aseptic Semiconductor
By Application Bleaching Oxidation Environmental
By End-Use Industry Pulp & Paper Chemicals Textile Food & Beverage
Key Players
Companies Profiled   Solvay (Belgium)   Evonik Industries AG (Germany)   Kemira (Finland)   Arkema SA (France)   Mitsubishi Gas Chemical Company Inc (Japan)   Nouryon (the Netherlands)   Chang Chun Group (Taiwan)   National Peroxide Ltd (India)   FMC Corporation (US)   OCI Company Ltd (South Korea)   Indian Peroxide Limited (India)   Thai Peroxide Co. Limited (Thailand)   Merck KGaA (Germany)   Huatai Group (China)   Hansol Chemical (South Korea).
Market Driving Forces    The main driver of growth in the hydrogen peroxide market comes from the paper and pulp industries.
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Hydrogen Peroxide Market Overview:

The global hydrogen peroxide market was valued at USD 4096.1 million, in the preview period. It is estimated that the hydrogen peroxide market value would increase about USD 5,499.99 million by 2027 and the CAGR value would grow at 4.3%.

Hydrogen peroxide is a non-toxin transparent chemical to the environment that readily dissolves in water. It is effective at oxidising a wide range of organic and inorganic compounds, including skin and metals. It is commonly accessible in pharmacies in concentrations of 3 and 6 wt % for consumers. China presently produces more than 30% of the global hydrogen peroxide supply. In the production of paper and wood pulp, hydrogen peroxide is widely employed. These they are the two industries that use the most hydrogen peroxide. In the preview period, the combined market share of these two industries for hydrogen peroxide topped at 50%. Each year the hydrogen peroxide market share is growing consistently due to various growth factors and the increasing application opportunities.

Covid-19 Impact Analysis

Due to the strict lockdown requirements, the pandemic period was a difficult time for the hydrogen peroxide market growth. When the supply of raw materials was interrupted for an extended period due to travel restrictions, the market was put under pressure. Manufacturing and other industrial units suspended operations until the lockdown period was lifted, affecting production rates and resulting in a decline in the growth statistics. Customers were unable to get the products on time, thus affecting the supply chain process further.

Having recognised the pandemic's loss, the key players are attempting to make up for it by implementing new tactics and plans and tackling the challenges. To keep the market's growth stable, future product development and enhancements are made. Furthermore, the market is expected to grow at a rate of 4.3% in the forecast period.

Market Dynamics

Key Market DriversThe primary growth  drivers of global hydrogen peroxide market are the paper and pulp industries. Demand for and growth in the hydrogen peroxide market are driven by industries that employ chemicals extensively in their manufacturing processes. This chemical is required by the pulp and paper sectors because it is effective in bleaching pulp to achieve the desired bright white colour. Hydrogen peroxide is also useful for removing ink from paper so that it can be reused. There are many businesses who are no longer allowed to use chlorine-based compounds in their manufacturing processes. Hence, they are shifting to the implementation of  hydrogen peroxide because it's a safer and less expensive solution.Market ChallengesAmidst of all the positive growth factors of the growing hydrogen peroxide market revenue, there are still some possible challenges that can hinder the market growth. It might be a great challenge for the hydrogen peroxide manufacturers to continue to develop newer generations of hydrogen peroxide that are both economical and effective and still being safe for humans utilization. It is critical for the newer hydrogen peroxide generations to be  environmentally friendly.Market OpportunitiesMany manufacturers of hydrogen peroxide are investing considerably in research and development as a result of the rising demand for hydrogen peroxide chemical in many essential industries. The primary goal is to create and commercialize a new generation of hydrogen peroxide that is safer for both human utilization and the environment while perfectly decomposing and bleaching organic and inorganic compoundsMarket RestraintsAlthough many industry find hydrogen  peroxide as a safer alternative for their application process, this chemical still posses many adverse effects on the environment. As a result, several countries all over the world are attempting to limit its production and use. This is a significant restraint block for the global hydrogen peroxide market.

Cumulative Evaluation of the Market

The market overview is provided by the analysed summary of the Hydrogen Peroxide Market Analysis. The market is expanding due to growth drivers and increased market demand as a result of many developments and innovations of key market players. Existing elements, such as drivers and opportunities, are assisting in the market's valuation. Other variables such as restraining and challenging factors, which are based on negative elements, hinder its progress. The key players pay close attention to these challenges and restraints in order to ensure that the market reaches its expected value rapidly as feasible. As a result, the market is expected to achieve its CAGR to be 4.3% during the forecast period.

Market Segmentation

The hydrogen peroxide market is segmented into three major segments that are by grade, by application, by industry. Further, these segments are again sub-segmented into different segments:

By GradeThe Grade segment is segregated into standard, chemical, cosmetic, aseptic, food, semiconductor sub-segments.By ApplicationHydrogen Peroxide has extensive application in various industries. According to this  application market segment is classified into bleaching, environmental, packaging, oxidation, packaging, disinfectant, propellant, and others.By IndustryBased on industry, the global hydrogen peroxide market can be divided into different categories that entails pulp and paper, chemical, food and beverage, textiles, personal care and cosmetics, electronics, healthcare, mining, and others. According to the preview period market study, pulp and paper industry is dominating the hydrogen peroxide market.

Global Hydrogen Peroxide Market Share, by End-Use Industry, 2017 (%)

  Hydrogen Peroxide Market

Source: MRFR analysis

Regional Analysis

On the basis of Hydrogen peroxide global market segmentation, regionally the market is segmented as Asia-Pacific, North America, Europe, Latin America, and the Middle East and North Africa segments. According to this research and development report regional analysis of hydrogen peroxide market, Asia-Pacific region has the largest hydrogen peroxide market share in the preview market study. Moreover, Asia-Pacific region has the highest regional CAGR, since this region is experiencing the increasing growth of pulp, textiles and paper manufacturers. Further, hydrogen peroxide market size faces growth due to the growing concern due to industrialization effect on the environment. Countries like India and China have the increasing demand for wastewater treatment facilities which is making dramatic increment of the hydrogen peroxide market. Additionally, The North American market for hydrogen peroxide is large due to  many of the industries that utilize hydrogen peroxide are based in Canada and America. The United States has the biggest market share of all region in the world, owing to the presence of the majority of large firms that apply hydrogen peroxide.

Competitive Intensity Within The Industry

The hydrogen peroxide market is expected to remain competitive still throughout the forecast period. It might be due to, in comparison to other industries, market players find fewer barriers to entrance in the hydrogen peroxide industry. To create hydrogen peroxide, market players don't need a lot of people, machinery, money, or an initial investment. Many businesses are interested in entering the market because it has a healthy CAGR. These businesses are discovering that they can charge a higher price for more effective and improved hydrogen peroxide. Some of the prominent contributors of hydrogen peroxide industry are:

  • FMC Corporation (US)

  • Evonik Industries AG (Germany)

  • Arkema SA (France)

  • Merck KGaA (Germany)

  • Kemira (Finland)

  • Solvay (Belgium)

  • Mitsubishi Gas Chemical Company Inc. (Japan)

  • Chang Chun Group (Taiwan)

  • Thai Peroxide Co. Limited (Thailand)

  • Nouryon (Netherlands)

  • National Peroxide Ltd (India)

  • Indian Peroxide Limited (India)

  • Huatai Group (China)

  • OCI Company Ltd. (South Korea)

  • HansolChemicall (South Korea)

Recent Market Developments

  • FMC Corporation (US) one of the major market player of hydrogen peroxide market has announced supporting Philippine farmers in their innovative initiative of increasing crop yields.

  • Arkema as another prominent market player of hydrogen peroxide market has introduced making an advanced and more potent version of hydrogen peroxide in the global market.

Report Overview

The studied report on the Hydrogen Peroxide Market Forecast discusses the market's expansion throughout the preview period on the basis of demand. The report covered both the loss and recovery from the Covid-19  pandemic. The market's dynamic components and their impacts were briefly outlined. The principal segments and their sub-segments are shown in the segmentation analysis. The regional analysis provides a comprehensive overview of the Hydrogen Peroxide Market's geographical areas. The market is being driven at a global level by the critical role of the major key players and their innovations. The market's demand is being fueled by recent developments. As a result, all of the positive variables will contribute to the market achieving a high compound annual growth rate over the study period.

Key Industrial Segments

  • By Grade

  • Standard

  • Chemical

  • Cosmetic

  • Aseptic

  • Food

  • Semiconductor

  • By Application

  • Bleaching

  • Oxidation

  • Environmental

  • Packaging

  • Disinfectant

  • Propellant

  • Others

  • By Industry

  • Pulp and paper

  • Textile

  • Chemical

  • Food and beverage

  • Personal care and cosmetics

  • Healthcare

  • Electronics

  • Mining

  • Others

Report Scope:

Report Attribute/Metric Details
  Market Size

  • 2022: USD 4.0 billion
  • 2027: USD $5,499.99 million
  •   CAGR   4.3% (2022-2027)
      Base Year   2021
      Forecast Period   2022-2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Million)
      Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   grade, application, end-use industry, and region
      Geographies Covered   Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa
      Key Vendors   Solvay (Belgium), Evonik Industries AG (Germany), Kemira (Finland), Arkema SA (France), Mitsubishi Gas Chemical Company Inc (Japan), Nouryon (the Netherlands), Chang Chun Group (Taiwan), National Peroxide Ltd (India), FMC Corporation (US), OCI Company Ltd (South Korea), Indian Peroxide Limited (India), Thai Peroxide Co. Limited (Thailand), Merck KGaA (Germany), Huatai Group (China), and Hansol Chemical (South Korea).
      Key Market Opportunities   The increased demand for hydrogen peroxide in many key industries is prompting many manufacturers of this clear chemical to invest heavily in research and development.
      Key Market Drivers   The main driver of growth in the hydrogen peroxide market comes from the paper and pulp industries.

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    Frequently Asked Questions (FAQ) :

    The hydrogen peroxide market is projected to grow at a 4.3% CAGR between 2022-2027

    The hydrogen peroxide market is predicted to touch USD 5,499.99 Million by 2027

    Asia Pacific is expected to lead the hydrogen peroxide market.

    Solvay (Belgium), Evonik Industries AG (Germany), Kemira (Finland), Arkema SA (France), Mitsubishi Gas Chemical Company Inc (Japan), Nouryon (the Netherlands), Chang Chun Group (Taiwan), National Peroxide Ltd (India), FMC Corporation (US), OCI Company Ltd (South Korea)

    Due to the extensive use of chemicals, papers and pulp industry, it is boosting the market growth.

    The major applications of hydrogen peroxide includes environmental use, oxidation, and bleaching.