NEW
YORK, July 15, 2024 /PRNewswire/ -- The
global hydrogen peroxide market size is estimated to grow
by USD 518.87 million from 2023-2027,
according to Technavio. The market is estimated to grow at a CAGR
of almost 5% during the forecast period. Increasing demand for
paper from developing and underdeveloped nations is driving market
growth, with a trend towards innovative use of hydrogen peroxide.
However, growing availability of hydrogen peroxide substitutes
poses a challenge. Key market players include Aditya Birla
Management Corp. Pvt. Ltd., Akzo Nobel NV, Arkema Group, Avantor
Inc., BASF SE, Chang Chun Group, Gujarat Alkalies and Chemicals
Ltd., Hansol Holdings, Hodogaya Chemical Co. Ltd., Kemira Oyj,
Kingboard Holdings Ltd., Merck KGaA, Mitsubishi Gas Chemical Co.
Inc., National Peroxide Ltd., Nouryon Chemicals Holding BV, OCI Co.
Ltd., PJSC Khimprom, RAG Stiftung, Solvay SA, and Taekwang
Group.
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Hydrogen Peroxide
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2022
|
Historic
period
|
2017 - 2021
|
Forecast
period
|
2023-2027
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
5%
|
Market growth
2023-2027
|
USD 518.87
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
4.55
|
Regional
analysis
|
APAC, North America,
Europe, Middle East and Africa, and South America
|
Performing market
contribution
|
APAC at 41%
|
Key
countries
|
US, China, India, South
Korea, and Germany
|
Key companies
profiled
|
Aditya Birla Management
Corp. Pvt. Ltd., Akzo Nobel NV, Arkema Group, Avantor Inc., BASF
SE, Chang Chun Group, Gujarat Alkalies and Chemicals Ltd., Hansol
Holdings, Hodogaya Chemical Co. Ltd., Kemira Oyj, Kingboard
Holdings Ltd., Merck KGaA, Mitsubishi Gas Chemical Co. Inc.,
National Peroxide Ltd., Nouryon Chemicals Holding BV, OCI Co. Ltd.,
PJSC Khimprom, RAG Stiftung, Solvay SA, and Taekwang
Group
|
Market Driver
Hydrogen peroxide market growth is driven by advancements in
production technology, leading to increased volumes. These
improvements have expanded hydrogen peroxide's primary
applications, particularly due to population growth and diverse
usage techniques. For instance, Stanford
University and SLAC National Accelerator Laboratory have
collaborated to develop a renewable energy-powered device for
hydrogen peroxide production. This innovation uses hydrogen
peroxide to oxidize contaminants in groundwater, contributing to
environmental sustainability. In the healthcare sector, STERIS
Corporation's V-PRO 60 low-temperature sterilization system is a
recent development. This system offers cost-effective and
productive sterilization for moisture and heat-sensitive devices,
using hydrogen peroxide. The V-PRO 60 sterilizer can process a wide
range of devices, enhancing sterile processing professionals'
productivity. With nearly 55% hydrogen peroxide utilization in all
sterilization cycles, this innovative application is expected to
fuel the hydrogen peroxide market's growth during the forecast
period.
The Hydrogen Peroxide market is witnessing significant growth
due to its diverse applications in various industries. In the
Electronic Industry, it's used as a cleaning agent. In Water
Treatment, it's a popular choice for effluent decolorization. As a
Bleaching Agent, it's used in Paper Industry for Mechanical Pulp,
Chemical Pulp, Recyclable Pulp, and Tissue Paper production. In
FMCG Products, it's used as an antiseptic for cuts, bruises,
infections, mouth rinse, and mouth irritation. The market volume is
increasing due to its usage in industries like Tea Bags, Filter
Paper, Lightweight Coated Paper, and Cardboard. The Petrochemical
Industry uses Hydrogen Peroxide in Organic Food Processing. Nayara
Energy is a key player in the market, focusing on production
capacity expansion. However, health hazards and side effects like
odor and skin irritation are concerns. Market consolidation and
price increase due to energy prices are challenges. Historical
overview and industry analysis show steady growth, with
concentrated forms gaining popularity. Statistics indicate a rise
in global paper consumption, driving demand for Hydrogen
Peroxide.
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Market Challenges
- The global hydrogen peroxide market is anticipated to face
challenges due to the increasing use of substitutes in various
industries. In the pulp and paper industry, the adoption of
chlorine-based bleaching agents, sodium dithionate, xylanase
enzymes, polyaluminum chloride, and alum is on the rise. These
substitutes offer cost-effective solutions and suitable properties
for specific applications. For instance, polyaluminum chloride is
commonly used in wastewater treatment due to its insipidness,
efficient solubility, non-toxicity, high strength, and high
basicity. Similarly, in the medical industry, ETO sterilizers have
emerged as an alternative to hydrogen peroxide for sterilizing heat
and moisture-sensitive medical devices. These sterilizers use
ethylene oxide gas, which infiltrates sealed films and cartons to
deliver sterility assurance levels. However, the availability of
these substitutes may hinder the growth of the hydrogen peroxide
market during the forecast period.
- The Hydrogen Peroxide market faces several challenges in
various industries. In the realm of personal care and medical
industries, biological degradability is a significant concern.
Chemical formulators strive to create eco-friendly hydrogen
peroxide-based products for personal care, such as hair care
formulations and skincare creams, lotions. In medical industries,
its oxidizing abilities and antimicrobial properties are crucial.
Water borne illnesses drive the demand for hydrogen peroxide in
water treatment. Phosphorus and nitrogen removal in wastewater
treatment require its oxidation abilities. In the pulp and paper
industry, hydrogen peroxide serves as a bleaching agent. In
chemical synthesis, it plays a vital role. Intense competition in
the market necessitates process reforms and patented technologies.
Hydrogen Peroxide functions as a disinfectant, bleaching agent, and
oxidant in various sectors like mining, cosmetics and healthcare,
textiles. However, supply chain disruptions due to raw material
availability, such as Propylene Oxide, pose challenges. The HPPO
process is a promising solution to mitigate these issues.
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Segment Overview
This hydrogen peroxide market report extensively covers market
segmentation by
- Application
- 1.1 Bleaching
- 1.2 Chemical synthesis
- 1.3 Disinfectant
- 1.4 Others
- End-user
- 2.1 Pulp and paper
- 2.2 Textiles
- 2.3 Wastewater treatment
- 2.4 Food and beverages and others
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Bleaching- The bleaching segment dominates the
global hydrogen peroxide market due to its extensive usage in
various industries, including pulp and paper, pharmaceuticals,
textiles, and medical. Hydrogen peroxide's primary role is as a
bleaching agent, particularly in textiles, where it brightens
clothes and removes stains from both natural and synthetic fibers.
Additionally, it enhances fiber properties, making it valuable in
fabric manufacturing. The textile industry's growth, especially in
developing countries like India,
fuels the demand for hydrogen peroxide. India, a significant player in the textile
sector, is the world's largest producer of cotton and jute.
Consequently, the escalating demand for hydrogen peroxide in
bleaching applications across diverse industries is anticipated to
drive the global hydrogen peroxide market's expansion throughout
the forecast period.
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analysis including forecast (2023-2027) and historic data
(2017-2021) - Download a Sample Report
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The global hydrogen market is expanding rapidly, driven by the
increasing demand for clean energy solutions. Within this, the
global green hydrogen market is particularly significant,
leveraging renewable energy sources to produce hydrogen with
minimal carbon footprint. This market is expected to grow
substantially due to government incentives and advancements in
technology. The global hydrogen generation market encompasses
various methods, including electrolysis and natural gas reforming,
to produce hydrogen for industrial, transportation, and energy
applications. Together, these markets are pivotal in the transition
to a sustainable energy future.
Research Analysis
Hydrogen Peroxide is a versatile chemical compound with the
formula H2O2, known for its disinfectant, bleaching, and oxidizing
properties. It functions as an effective disinfectant, eliminating
bacteria, viruses, and fungi, making it essential in various
industries. In the Pulp and Paper sector, hydrogen peroxide is used
for bleaching pulp, enhancing paper brightness and improving
product quality. In Chemical Synthesis, it acts as an oxidant,
playing a crucial role in the production of Propylene Oxide through
the HPPO process. Wastewater Treatment, Mining, Cosmetics and
Healthcare, and Textiles industries also benefit from hydrogen
peroxide's properties. However, supply chain disruptions due to raw
material availability and production challenges can impact the
market. Despite its advantages, hydrogen peroxide can pose health
hazards, including skin irritation from contact, mouth irritation
when used as a mouth rinse, and potential side effects such as
mucus production and oral infections. As an oxidant, it releases
oxygen, making it an essential antiseptic for treating skin cuts,
bruises, and infections.
Market Research Overview
Hydrogen Peroxide is a versatile and essential chemical compound
with the formula H2O2. It functions as an oxidant, disinfectant,
and bleaching agent. In various industries, hydrogen peroxide is
used for pulp and paper bleaching, chemical synthesis, wastewater
treatment, mining, cosmetics and healthcare, textiles, and water
treatment. The product's antiseptic properties make it an effective
disinfectant for cuts, bruises, infections, and oral health issues
like mouth rinse and mouth irritation. The pulp and paper industry
is a significant consumer of hydrogen peroxide, used in bleaching
mechanical, chemical, and recyclable pulp. In water treatment,
hydrogen peroxide acts as an oxidizing agent to remove effluent
color and improve water quality. It's also used in the mining
industry for ore processing and in the electronic industry for
cleaning silicon wafers. Supply chain disruptions can impact the
availability and price of raw materials like propylene oxide,
affecting hydrogen peroxide production through the HPPO process.
Health hazards and side effects, such as skin irritation and
respiratory issues, necessitate proper handling and safety
measures. Hydrogen Peroxide's applications extend to the
petrochemical industry, organic food processing, and the FMCG
sector. Market consolidation and price increases due to energy
prices and production facility expansions can impact the industry.
Concentrated forms of hydrogen peroxide are available for online
sales, with various production capacities catering to different
industries' needs. Historically, hydrogen peroxide has been used
for disinfection in public and private spaces, sanitizers, and as a
bleaching substance in various industries. Key components like
peroxyacetic acid, isopropyl alcohol, and chlorine dioxide are used
in biocide chemistries for wastewater treatment. Hydrogen
peroxide's environmental friendliness and versatility make it an
essential component in water-borne sickness prevention, processed
food production, and disposable income-driven markets like packaged
edibles and organized retail.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Bleaching
- Chemical Synthesis
- Disinfectant
- Others
- End-user
-
- Pulp And Paper
- Textiles
- Wastewater Treatment
- Food And Beverages And Others
- Geography
-
- APAC
- North America
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
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