Hydrogen Peroxide Market Research Report – Global Forecast till 2032

Hydrogen Peroxide Market Research Report Information By Grade (Standard, Chemicals, Aseptic, and Semiconductor), By Application (Bleaching, Oxidation, and Environmental), By End-User (Pulp & Paper, Chemicals, Textile, and Food & Beverage), and By Region (North America, Europe, Asia-Pacific, and Rest Of The World) –Market Forecast Till 2032.

ID: MRFR/CnM/5927-HCR | 140 Pages | Author: Anshula Mandaokar | March 2024         

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Global Hydrogen Peroxide Market Overview


The Hydrogen Peroxide Market Size was valued at USD 4.2 billion in 2022. The Hydrogen Peroxide industry is projected to grow from USD 4.38 billion in 2023 to USD 6.13 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.30% during the forecast period (2023 - 2032). Increasing implementation of hydrogen peroxide in the pulp & paper industry and businesses opting for non-chlorine-based compounds for manufacturing processes are the key market drivers enhancing the market growth.
Hydrogen Peroxide Market Overview
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Hydrogen Peroxide Market Trends 




  •  Increasing demand in the pulp and paper industry is driving market growth




An increase in demand in various industries is driving the market CAGR for Hydrogen Peroxide. The pulp and paper industry is another major end-user of hydrogen peroxide. It is used as bleaching in producing high-quality paper products. The demand for high-quality paper products is increasing globally, driven by factors such as the growth of the e-commerce industry and the rising demand for sustainable packaging. It, in turn, is driving the demand for hydrogen peroxide in the pulp and paper industry.


Hydrogen peroxide is also used in the food industry as a disinfectant and preservative. It treats raw materials, equipment, and food products to ensure safety and quality. The rising demand for packaged and processed food items is driving the demand for hydrogen peroxide in the food industry. Hydrogen peroxide is also a bleaching agent in producing food-grade oils and fats.


Hydrogen peroxide is widely used in the healthcare industry for its disinfectant properties. It is used as a cleaning agent for medical equipment, surfaces, and wound care. With the outbreak of pandemic, the demand for hydrogen peroxide-based disinfectants has increased significantly. The healthcare industry is expected to remain a major end-user of hydrogen peroxide in the coming years, driving the market's growth.


For instance, the hydrogen peroxide market is witnessing a significant growth driven by the increasing demand from the healthcare, pulp, paper, and food industries. With the ongoing COVID-19 pandemic and the growing demand for sustainable packaging and food products, hydrogen peroxide demand will remain strong in the coming years, driving the Hydrogen Peroxide market revenue.


Hydrogen Peroxide Market Segment Insights


Hydrogen Peroxide Grade Insights


The Hydrogen Peroxide market segmentation, based on grade, includes standard, chemicals, aseptic, and semiconductors. The chemicals segment dominates the market. This grade is used in various industrial applications such as wastewater treatment, pulp and paper bleaching, and textile bleaching. It is also used in the electronics industry as a cleaning agent.


Hydrogen Peroxide End-User Insights


The Hydrogen Peroxide market segmentation, based on end-user, includes pulp & paper, chemicals, textiles, and food & beverage. The pulp & paper category dominates the market. It is used as a bleaching agent in the paper and pulp industry as it is an eco-friendly alternative to chlorine-based bleaching agents.


Hydrogen Peroxide Application Insights


The Hydrogen Peroxide market segmentation, based on application, includes bleaching, oxidation, and environmental. The bleaching category generates the most income. It is used as a bleaching agent in various industries, such as paper and pulp, textile, and food processing. It is also used for hair bleaching in the cosmetic industry.


Figure 1: Hydrogen Peroxide Market, by Application, 2022 & 2032 (USD billion)
Hydrogen Peroxide Market, by Application, 2022 & 2032
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Hydrogen Peroxide Regional Insights


By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Hydrogen Peroxide market area is expected to have significant growth in the market due to the increasing demand for hydrogen peroxide in various end-use industries such as paper and pulp, textiles, and healthcare. The growing demand for eco-friendly and sustainable products drives the demand for hydrogen peroxide in the US. The US is also a great exporter of hydrogen peroxide to other regions.


Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 2: HYDROGEN PEROXIDE MARKET SHARE BY REGION 2022 (%) 
HYDROGEN PEROXIDE MARKET SHARE BY REGION 2022
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Europe's Hydrogen Peroxide market accounts for the second-largest market share due to the increasing demand for hydrogen peroxide in various end-use industries such as pulp and paper, textiles, and water treatment. Further, the German Hydrogen Peroxide market held the largest market share, and the UK Hydrogen Peroxide market was the fastest-growing market in the European region. The European Union has implemented stringent regulations to reduce hazardous chemicals, expected to drive the demand for hydrogen peroxide in the region.


The Asia-Pacific Hydrogen Peroxide Market will dominate the market from 2023 to 2032. The rising demand for hydrogen peroxide in various end-use industries, such as pulp and paper, textiles, and electronics, drives the market. The increasing use of hydrogen peroxide in the electronics industry is also expected to drive the demand for hydrogen peroxide in the region. Moreover, China’s Hydrogen Peroxide market held the largest market share, and the Indian Hydrogen Peroxide market was the fastest-growing market in the Asia-Pacific region.


For instance, the hydrogen peroxide market is expected to grow steadily during the forecast period. The increasing demand for hydrogen peroxide in various end-use industries such as pulp and paper, textiles, and healthcare drives the market.


Hydrogen Peroxide Key Market Players & Competitive Insights


Leading market players are investing heavily in research and development to expand their product lines, which will help the Hydrogen Peroxide market grow even more. Market participants are also undertaking numerous strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The industrial Hydrogen Peroxide must offer cost-effective items to expand and survive in a more competitive and rising market climate.


Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Hydrogen Peroxide industry to benefit clients and increase the market sector. In recent years, the Hydrogen Peroxide industry has offered some of the most significant advantages to medicine. Major players in the Hydrogen Peroxide market, including 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), and others, are attempting to increase market demand by investing in research and development operations.


Arkema S.A., located in Colombes, near Paris, France, was founded in 2004 as a multi-national manufacturer of specialty materials. It specializes in several segments, such as adhesives, advanced materials, coatings, and chemical intermediaries. In September 2022, Arkema propounded a rise in price of hydrogen peroxide in Europe. This step was taken to manage the rising energy prices in Europe.


Solvay S.A. is a multi-national chemical company established in 1863 in Neder-Over-Heembeek, Brussels, Belgium. It was founded to produce sodium carbonate by the Solvay process; the company has diversified into two main sectors of activity: chemicals and plastics. In July 2022, Solvay announced building high-grade production facilities for electronic-grade hydrogen peroxide in Arizona, United States. The production is likely to begin in 2023.


Key Companies in the Hydrogen Peroxide market include




  • 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)




Hydrogen Peroxide Industry Developments


In April 2020: Gujarat Alkalies and Chemicals announced the commencement of partial operations of poly aluminum chloride and hydrogen peroxide plants at Dahej.


In June 2020: Nouryon announced the development of the world-class state-of-art manufacturing facility at the current operating site of Ningbo, China, to produce two key intermediates for its organic peroxide business.


In February 2020: Evonik successfully acquired the US company PeroxyChem million after the responsible court in Washington DC dismissed the lawsuit filed by the Federal Trade Commission (FTC) to block the acquisition.


Hydrogen Peroxide Market Segmentation


Hydrogen Peroxide Grade Outlook




  • Standard




  • Chemicals




  • Aseptic




  • Semiconductor




Hydrogen Peroxide Application Outlook




  • Bleaching




  • Oxidation




  • Environmental




Hydrogen Peroxide End-User Outlook




  • Pulp & Paper




  • Chemicals




  • Textile




  • Food & Beverage




Hydrogen Peroxide Regional Outlook



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America




 

Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 34.5 billion
Market Size 2023 USD 38.6055 billion
Market Size 2032 USD 94.905 billion
Compound Annual Growth Rate (CAGR) 11.90% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Grade, Application, End-User, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key 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)
Key Market Opportunities Investing in research & development Create a new generation of hydrogen peroxide that is safer and user-friendly.
Key Market Dynamics Increasing demand for hydrogen peroxide in various industries such as healthcare and food.




Frequently Asked Questions (FAQ) :

The Hydrogen Peroxide market size was valued at USD 4.2 Billion in 2022

The market is projected to grow at a CAGR of 4.30% during the forecast period, 2023-2032

The key players in the market are 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)

The Hydrogen Peroxide category dominated the market in 2022

The bleaching segment had the largest share of the market

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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