Hydrogen Peroxide Market to Reach USD 6,065 Mn in 2032, Driven by High Demand From Wastewater Treatment & Paper Industries

Marketresearch.biz reports that the Hydrogen Peroxide Market is thriving, driven by its versatile applications in various industries. Rising environmental awareness and eco-friendly demand are boosting growth, prompting companies to invest in research and development for improved products.


New York, Sept. 25, 2023 (GLOBE NEWSWIRE) -- Hydrogen peroxide market size to reach USD 6,065 Mn in 2032 from USD 3,700 Mn in 2022, and register a CAGR of 5.2% over the forecast period (2023-2032)

Hydrogen peroxide (H2O2) is a versatile chemical compound with a range of functionalities and benefits and is primarily known for its disinfectant and antiseptic properties, making it a common household item for wound cleaning and sterilization. This substance is employed as a cleanser and in the production of foam and chemical indicators and hydrogen peroxide is also used in the manufacturing of paper, textiles, and electronics.


The various types of hydrogen peroxide are typically categorized by their concentration levels and include standard 3% hydrogen peroxide used in most households, as well as higher concentrations (10% to 35%) used for industrial and medical applications. Each type has specific uses and safety considerations, making hydrogen peroxide a valuable chemical compound in diverse sectors.

The global hydrogen peroxide market registered a significantly robust revenue growth incline in recent 2022, with factors such as increased demand for eco-friendly disinfection solutions, advancements in hydrogen peroxide formulations, such as stabilized and ultra-pure grades to enhance product efficacy and safety, and government initiatives promoting sustainable industrial practices having a positive impact on market revenue growth.

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Key takeaways

  • Asia Pacific accounted for a significantly larger revenue share of 38.9% compared to other regional markets in the global hydrogen peroxide market in 2022, and this dominant trend is expected to continue.
  • In 2022, India's hydrogen peroxide market size was USD 166.9 Million and is expected to register a revenue CAGR of 6.4% over the forecast period.
  • in FY 2021, hydrogen peroxide demand from India was 0.31 Million tons and is projected to register a CAGR of 6.6% over the seven-year period till FY2030.
  • In 2021, the top five global hydrogen peroxide exporters were Brazil (148 M kg), Italy (97 M kg), Belgium (144 M kg), the United States (90 M kg), and Thailand (144 M kg).
  • The top five global importers of hydrogen peroxide in 2021 were the Netherlands (68 M kg), Sweden (139 M kg), France (59 M kg), and Germany (103 M kg).

Trending Factors

Green Chemistry and Sustainability are Key Trends Supporting Formulation Innovations

A key factor driving the incline in sales volumes of hydrogen peroxide is the high demand for disinfection and sanitization products, especially as hydrogen peroxide is an effective and eco-friendly disinfectant. Also, advancements in formulations and new formulations of hydrogen peroxide, such as stabilized and ultra-pure grades, have been gaining traction and contributing to revenue growth. These formulations offer improved stability, safety, and efficacy, thus expanding their applications in various industries.

Green chemistry and sustainability are trends gaining popularity in the industry and others recently. Rising awareness regarding environmental sustainability and green chemistry practices has been driving steady demand for hydrogen peroxide. In addition, the versatility of hydrogen peroxide in application areas, including healthcare, pulp and paper, electronics, and textiles, continues to drive an incline in demand as these sectors also register increased demand for end products and sales revenues. Furthermore, government regulations and initiatives are playing a major role in supporting market growth. Regulatory support and initiatives aimed at reducing the use of harmful chemicals and government regulations favoring the adoption of safer and sustainable disinfection solutions have had a positive impact on the hydrogen peroxide market.

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Restraining Factors

Revenue Dilution Due to Availability of Substitute Disinfectants & Sterilization Agents

Some key factors contributing to sluggish market growth include safety and handling issues and regulations associated with high-concentration hydrogen peroxide, price volatility of raw materials, and competitive substitutes, among others. Mishandling or improper storage can lead to accidents, which can deter businesses from using or storing this chemical. The hydrogen peroxide manufacturing process relies on raw materials such as hydrogen and oxygen, of which the prices can fluctuate regularly. Variability in raw material costs can negatively impact profit margins and have a negative impact on revenues to manufacturers.

Also, the availability of alternative disinfectants and sterilization agents, such as chlorine-based compounds or UV-C technology, can dilute potential revenue owing to these substitutes being more preferred across some industries. Adoption of such substitutes occurs when industries seek more cost-effective and efficient solutions, and sustaining in the market is testing and challenging.

Growth Opportunities

Product Diversification and Global Expansion to Open Up Revenue Opportunities

Companies operating in the global hydrogen peroxide market can leverage opportunities to expand their product portfolios by offering various grades and formulations of hydrogen peroxide. This includes high-purity grades for electronics manufacturing, stabilized formulations for safe handling, and customized solutions for specific industries. Diversifying product range can enable tapping into different market segments and creating new revenue streams. Research and Development (R&D) for innovative applications is another approach to creating further revenue streams in the market. Investing in R&D to discover novel applications such as exploring hydrogen peroxide usage in emerging industries such as hydrogen fuel cells or as an environmentally friendly rocket propellant can create significant opportunities for growth.

Also, companies can explore international markets to expand their customer base through the establishment of strategic partnerships, and expansion of distribution networks and manufacturing facilities in regions with increasing demand for disinfectants. Regions such as Asia-Pacific and Latin America can provide substantial revenue growth opportunities, and focusing on such markets where environmental regulations favor green chemistry can be advantageous over time.

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Report Scope

Report AttributeDetails
Market Value (2022)US$ 3,700 Mn
Market Size (2032)US$ 6,065 Mn
CAGR (from 2023 to 2032)5.2%
Asia Pacific Revenue Share38.9%
Historic Period2016 to 2022
Base Year2022
Forecast Year2023 to 2032

Development of Products to Align with Sustainability and Environmental Responsibility

In terms of new products, companies are developing hydrogen peroxide-based solutions that align with a high emphasis on sustainability and environmental responsibility. These products include advanced disinfectants for healthcare settings, eco-friendly bleaching agents for the pulp and paper industry, and specialized formulations for green chemistry applications. In addition, hydrogen peroxide-based products with enhanced stability and safety features are being introduced to address industry-specific challenges. These innovations not only cater to existing market segments but also create opportunities for expansion into emerging industries and markets. Furthermore, companies are exploring breakthroughs in the electrochemical production of hydrogen peroxide from water and oxygen, with a keen focus on industrial electrification and sustainable generation of a powerful green oxidant on-site through the use of water and electricity as inputs.

Function Analysis

Disinfectant and Bleaching Segments Outperform Other Function Segments

The bleaching segment is expected to register the fastest revenue growth rate among the various function segments in the global hydrogen peroxide market. Demand is high due to the eco-friendly nature and efficacy of hydrogen peroxide, and is also driven by increasing health and safety concerns, especially in healthcare and public spaces.

Hydrogen peroxide is widely used in industries such as pulp and paper, textiles, and chemicals, due to its exceptional bleaching properties, which are essential for product quality. As a result, the bleaching segment is expected to account for the largest revenue share, and the trend is expected to continue over the forecast period.

Grade Analysis

Electronics Segments Set to Dominate Other Grade Segments in Terms of Growth Rate

The electronic grade segment in the global hydrogen peroxide market registered the fastest revenue share in 2022 and is expected to continue to maintain this dominance over the forecast period. Increasing demand for electronics and various devices and accessories is driving demand for electronic-grade hydrogen peroxide currently. Also, demand is high for this grade from the semiconductors and microelectronics sectors, where stringent purity requirements are essential for manufacturing

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Application Analysis

Healthcare and Wastewater Treatment are Key Application Areas for Hydrogen Peroxide

The healthcare segment among the application segments is expected to continue to register the fastest revenue growth rate owing to a high focus on healthcare hygiene and the need for effective sterilization and disinfection mediums and methods globally. However, the wastewater treatment segment is expected to account for the majority of revenue share, and this is driven by increasingly stringent environmental regulations, adoption of sustainable water treatment technologies, and rising demand for hydrogen peroxide in wastewater treatment processes and worldwide.

Regional Analysis

Asia Pacific to Dominate Other Regional Markets

The market in Asia Pacific accounted for the largest revenue share in the global market in 2022. This can be attributed to the presence of a number of chemical formulators, medical and pharmaceutical companies, and manufacturers of personal care products in countries in the region. Thailand, South Korea, India, Japan, and China are major markets in the hydrogen peroxide market, and factors such as availability of skilled labor, favorable government policies, and increasing trade in some countries.

Europe also accounts for significantly high demand for personal care products and hair and skin care products are widely sold in countries such as Germany, France, Italy, and others.

In addition, North America accounts for a sizable volume of demand owing to extensive wastewater treatment initiatives in countries in the region. Hydrogen peroxide is crucial in nitrogen & phosphorus removal from water and for reducing BOD, COD, offensive odor, and foaminess in domestic or industrial wastewater.

Segments Covered in the Report

By Function:

  • Oxidant
  • Disinfectant
  • Bleaching
  • Others Function

By Grade:

  • Electronic Grade
  • Industrial Grade

By Application:

  • Wastewater Treatment
  • Pulp & Paper
  • Personal Care
  • Healthcare
  • Food & Beverages
  • Chemical Synthesis
  • Others Application

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa

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Competitive Landscape Analysis:

The competitive landscape in the global hydrogen peroxide market is characterized by a mix of well-established players and emerging companies. Leading companies are deploying several key strategies to maintain a robust position and gain a competitive edge in the market.

Initiatives include continuous innovation and product development and investment in Research and development (R&D) to create new formulations and grades of hydrogen peroxide tailored to specific industry needs. For instance, companies are developing high-purity grades for the electronics industry, stabilized solutions for safer handling, and eco-friendly formulations for sustainable applications. Also, players are focusing on enhancing the efficiency and safety of their hydrogen peroxide products to meet evolving customer requirements.

Another critical approach is geographic expansion and market diversification, with leading players establishing global presence by expanding their production facilities and distribution networks to meet the growing demand for hydrogen peroxide in different regions. Companies are also diversifying their customer base by catering to various industries such as healthcare, electronics, and wastewater treatment. Furthermore, strategic partnerships and acquisitions are being used to strengthen market position and gain access to new technologies and markets.

Key Market Players

  • Taekwang Industrial, CO., LTD.
  • Solvay S.A.
  • OCI Company Ltd.
  • National Peroxide Limited
  • Gujarat Alkalies & Chemicals Ltd.
  • Grupa Azoty
  • Evonik Industries AG
  • Arkema S.A.
  • Akzo Nobel N.V.
  • Airedale Chemical
  • Mitsubishi Gas Chemical Company Inc.
  • Kingboard Chemical Holdings Ltd.
  • Indian Peroxide Ltd.

Recent Developments

  • On 19 September 2023, HPNow, which is a pioneer in electrification of the hydrogen peroxide industry, made and announcement that it had successfully closed a €14M equity round led by The Export and Investment Fund of Denmark (EIFO) along with Novo Holdings, while other investors include MatiTech and Evonik Venture Capital and AP Ventures. HPNow has pioneered an innovative electrochemical technology that facilitates the eco-friendly production of a potent oxidant right at the source. This remarkable approach operates solely on water and electricity, eliminating the need for conventional, fossil fuel-dependent centralized production, transportation, and handling of large quantities of hydrogen peroxide. After use, the resulting solution effortlessly breaks down into pure water and oxygen. This sustainable approach offers significant environmental benefits, reducing carbon emissions by up to three tons of CO2 equivalent per ton of on-site hydrogen peroxide production, in stark contrast to traditional production methods.
  • In February 2022, Solvay Ventures, which is the venture capital fund of Solvay, announced that it had made an investment in Chengyang Tech, which is a Chinese startup developing electrochemical technologies for on-site H2O2 production. Solvay's acquisition aligns with its strategic focus on harnessing its core technology for potential applications in long-term energy storage and water electrolysis. This move also presents an opportunity to leverage Chengyang's expertise in developing innovative solutions for the efficient conversion of air and water into chemicals through electrical energy utilization. In doing so, Solvay aims to contribute positively to environmental sustainability and play a role in accelerating society's transition towards carbon neutrality.
  • In February 2020, Evonik announced the acquisition of PeroxyChem for USD 640 million after some challenges. This move will enable Evonik to access and leverage additional growth opportunities, particularly in the areas of environmentally friendly disinfectants.

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