Hydrogen peroxide companies are at the forefront of producing and supplying this versatile chemical compound. Widely used in industries such as healthcare, cosmetics, and manufacturing, these companies ensure the highest quality and purity of hydrogen peroxide. They play a crucial role in delivering reliable and safe solutions to diverse applications.
Hydrogen peroxide, a versatile and eco-friendly oxidizing agent, is experiencing a surge in popularity across various industries. Its applications range from bleaching textiles and disinfecting surfaces to treating wastewater and propelling rockets. The hydrogen peroxide market is a bubbling cauldron of competition, with established players jostling for dominance alongside innovative startups.
Strategies for Market Share Supremacy:
Factors Shaping the Market Share Landscape:
Key Players:
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 KGaAÂ (Germany)
Huatai Group (China)
Hansol Chemical (South Korea)
Recent Developments:
June 2023:Â A consortium of European companies launches a research project to develop a new membrane-based technology for more efficient and sustainable hydrogen peroxide production.
July 2023:Â Rising energy costs and supply chain disruptions lead to a slight increase in hydrogen peroxide prices globally.
August 2023:Â The Indian government announces a subsidy program for the adoption of green hydrogen production technologies, further propelling the market growth.
September 2023:Â A new study suggests potential health risks associated with long-term exposure to hydrogen peroxide at high concentrations, raising concerns among safety regulators.
October 2023:Â Several major players collaborate on a joint research project to develop safer and more effective catalysts for hydrogen peroxide production.
November 2023:Â The global hydrogen peroxide market experiences a slight decline in demand due to economic slowdown in major consumer markets.
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.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
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.
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.
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.
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)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
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 (%)Â 
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.
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.
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)
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 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
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