Why Is the Hydrogen Peroxide Market Industry Growing?

The global hydrogen peroxide market is projected to grow from USD 3.2 Billion in 2022 to USD 4.0 Billion by 2027, at a CAGR of 5.0% during the forecast period. Hydrogen peroxide plays a vital role in the chemical industry. These products are necessary raw materials in major bulk chemical industries and are utilized in various industrial and manufacturing value chains. The products are used in different applications, such as textile, food processing, electronics semiconductor, paper & pulp, and others, and find applications in diverse end-use industries (construction, automotive, and others). Thus, rising chemical output and strong economic conditions in emerging countries are expected to drive the growth of the hydrogen peroxide market

Browse 219 market data Tables and 38 Figures spread through 201 Pages and in-depth TOC on "Hydrogen Peroxide Market by Grade (90% H2O2, 35% H2O2, 6 TO 10% H2O2, 3% H2O2), Application, End-use Industry (Pulp & Paper, Food & Beverage, Water Treatment, Textiles & Laundry, Oil & Gas, Healthcare, Electronics), & Region - Global Forecast"

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The major industry players are adopted expansions, joint venture and new product development as growth strategies in the last four years. The leading players in the market are Solvay S.A. (Belgium), Evonik Industries AG (Germany), Arkema (France), Nouryon (Netherlands) and Taekwang Industrial Co. (South Korea) and others.

Arkema is a manufacturer and supplier of chemical products. The company provides 3D printing, adhesives and sealants, automotive and transportation, building and construction, coatings, paints and inks, composites and advanced materials, electronics and electrical, oil and gas, renewable energies and energy storage, and sport and leisure products. It offers products under various brands, such as Sartomer’s N3xtDimension resins, Rilsan, Pebax, Luperox, Kynar, and Sartomer. The company serves the automotive, agriculture, chemicals, consumer goods, construction, electrical, oil, health, and packaging industries. It has operations across the Asia Pacific, Europe, Africa, the Middle East, and the Americas. It is headquartered in Colombes, France.

Evonik Industries AG is a producer and marketer of specialty chemical products. The Company provides intermediates and polymer materials for rubber, plastics, and automotive industries, and chemicals for use in animal nutrition, consumer goods, and healthcare-related products. It offers specialty additives and high-performance materials for adhesives, automotive, construction, and paints and coatings industries. It also provides utilities, site management, engineering, process technology, logistics, waste management, and technical services. It has business operations across the Americas, Asia-Pacific, the Middle East, Africa, and Europe. The Company is headquartered in Essen, Nordrhein-Westfalen, Germany.

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Solvay SA is engaged in the manufacturing and marketing of chemicals and plastic products. The Company offers sodium carbonate, sodium bicarbonate, hydrogen peroxide, peracetic acid, cellulose acetate tow/flakes, silica, high-performance polyester, and aromatic polyamides. It also offers phenol and derivatives, natural vanillin, surfactants, textile yarns, and staple fibers. The group markets its products under AMNI, EMANA BicarZ, Bi-PROTEC, Cerox, Diofan, Govanil, Hyflon, and IXPER. It serves electrical and electronics, feed and food, resources and environment, aeronautics and automotive, industrial applications, building and construction, consumer goods, and healthcare. The Company operates in several countries in Europe, the Americas, Asia, and the rest of the world. The Company is headquartered in Brussels, Belgium.

Nouryon, previously known as AkzoNobel Specialty Chemicals, is a global specialty chemicals leader. Markets and consumers worldwide rely on its essential solutions to manufacture everyday products, such as personal care, cleaning goods, paints and coatings, agriculture and food, pharmaceuticals, and building products. Hydrogen peroxide forms a key part of the Company’s bleaching chemicals product portfolio and is marketed under its pulp and performance chemicals business. The Company supplies specialty chemicals products to companies, such as BASF SE, Bayer AG, The Dow Chemical Company, General Electric Company, Monsanto Company, and Unilever NV.

Hydrogen Peroxide Market Industry New Revenue Pockets

The global hydrogen peroxide market is projected to grow from USD 3.2 Billion in 2022 to USD 4.0 Billion by 2027, at a CAGR of 5.0% during the forecast period. Hydrogen peroxide is used as a strong oxidizing agent, bleaching agent, disinfectant, cleaning agent, and etching agent. Hydrogen peroxide is economical and environment-friendly and, thus, used by many industries, such as pulp and paper, food and beverages. water treatment, textiles and laundry, oil and gas, healthcare, electronics, and other end-use industries.

By grade, 3% hydrogen peroxide is the second highest growing segment in the hydrogen peroxide market. A 3% solution of hydrogen peroxide that is commonly found in a drugstore works great for household cleaning and disinfecting. Commercially available 3 percent hydrogen peroxide is a stable and effective disinfectant when used on inanimate surfaces. It has been used in concentrations from 3 to 6 percent for disinfecting ventilators, fabrics and endoscopes.

By end-use industry, food & beverages segment account for third largest market for hydrogen peroxide. Hydrogen peroxide is used in the food processing industry due to its strong oxidizing and antimicrobial, and fungicidal properties. Hydrogen peroxide is primarily used to bleach various food compounds, such as wheat flour, edible oils, waxes, gums, egg whites, natural sugars, and starches. It is also used in the color adjustment of raw material and final products of foods, such as herring, instant tea, cheese whey, and natural fatty acid emulsifiers. Hydrogen peroxide is used in the preparation of various food additives. It is also used for sulfite reduction, reducing or removing sulfur dioxide from foods, such as starch, wine, and corn syrup.

The Asia Pacific is projected to be the largest and fastest-growing hydrogen peroxide market followed by Europe and North America. Increase in demand from China and India expects to drive the demand for hydrogen peroxide in the region. China emerged as one of the world’s manufacturing hubs, with relatively low raw materials and labor prices. This has led to considerable investments in the manufacturing sector. Additionally, the remarkable growth of the manufacturing sector in the Asia Pacific provides momentum for the development of the hydrogen peroxide market. The abundance of raw materials, low utility cost, lenient regulation, and low cost of production, among others, are some of the factors that support the growth of the manufacturing industry in the Asia Pacific.