Pune, April 24, 2023 (GLOBE NEWSWIRE) -- As per SNS Insider, the Hydrogen Peroxide Market attained a value of USD 3.46 billion in 2022 and is anticipated to expand at a compound annual growth rate (CAGR) of 5.5% during the forecast period of 2023-2030, ultimately reaching USD 5.31 billion.
Market Report Scope
Hydrogen peroxide is a chemical compound that consists of hydrogen and oxygen molecules. It is a clear and colorless liquid with a slightly sharp odor and a bitter taste. Hydrogen peroxide is commonly used as a bleaching agent, antiseptic, and disinfectant due to its powerful oxidizing properties. In various industries, hydrogen peroxide is used for several applications, such as pulp and paper bleaching, wastewater treatment, textile processing, and chemical synthesis.
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Market Analysis
The hydrogen peroxide market is anticipated to experience significant growth, fueled by the surging demand from the paper and pulp industry, as well as the increasing consumption of this chemical compound as a raw material for propylene oxide production using the HPPO process. The growth of the electronic industry in developing countries is also expected to contribute to the expanding demand for hydrogen peroxide, as it is widely used in the manufacture of electronic components. Furthermore, hydrogen peroxide is utilized in water treatment, and with the increasing need for clean and safe water sources, the market is expected to see a rise in demand from this sector as well. These factors collectively suggest that the market is poised for robust growth in the coming years.
Impact of Recession
The impact of a recession on the hydrogen peroxide market can be significant, as it can affect the demand for the chemical compound in various industries. During a recession, the demand for hydrogen peroxide in industries such as textiles, pulp and paper, and wastewater treatment may decrease, leading to a decline in the overall demand for hydrogen peroxide. On the other hand, a recession can also provide opportunities for companies to expand their market share by adopting cost-effective strategies and improving their operational efficiencies.
Key Regional Development
The hydrogen peroxide market in the Asia-Pacific region is expected to witness sustained growth during the forecast period, with India and China being the major economies driving this trend. The rapid economic growth and industrialization in these countries have created a significant demand for hydrogen peroxide in various industries, such as textiles, electronics, and paper and pulp. Furthermore, the increasing emphasis on water treatment in these countries has also boosted the demand for hydrogen peroxide. The favorable government policies and initiatives aimed at promoting the growth of these industries have further fueled the demand.
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Key Takeaway from Hydrogen Peroxide Market Study
- The market is expected to witness a significant shift towards the bleaching segment. The demand for hydrogen peroxide in the bleaching industry is expected to grow rapidly in the coming years, driven by factors such as the increasing use of hydrogen peroxide in the textile and paper industries.
- The pulp and paper segment is expected to dominate the market in the coming years. This is due to the increasing demand for hydrogen peroxide in the pulp and paper industry, where it is used as a bleaching agent and for pulp production.
Recent Developments Related to Hydrogen Peroxide Market
- Solvay, a Belgian chemical company, has announced its plans to construct a new facility dedicated to the production of electronic-grade hydrogen peroxide. This facility will be based in the United States and will cater to the growing demand for high-quality hydrogen peroxide in the electronics industry.
- Meghmani Finechem Limited, a leading manufacturer of specialty chemicals in India, has announced the start of commercial production at its new hydrogen peroxide plant in Gujarat, India. This plant is equipped with state-of-the-art technology and has a production capacity of 40,000 tons per annum.
Hydrogen Peroxide Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 3.46 Billion |
| Market Size by 2030 | US$ 5.31 Billion |
| CAGR | CAGR of 5.5% From 2023 to 2030 |
| Key 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) |
| Regional Analysis | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Evonik Industries, Solvay, Aditya Birla Chemicals, Gujarat Alkalies, Hansol Chemical CO. Ltd, Chang Chun Petrochemical, Akzo Nobel, Kemira Oyj, National Peroxide Limited, Arkema S. A., and other players. |
| Market Drivers | • Increasing Demand for paper and pulp industries. • Businesses that use chemicals in the manufacturing process. • Niche applications are becoming more popular. |
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Hydrogen Peroxide Market Segment, By Grade
9. Global Hydrogen Peroxide Market Segment, By Application
10. Global Hydrogen Peroxide Market Segment, By Industry
11. Regional Analysis
12. Company Profile
13.Competitive Landscape
14. Conclusion
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