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Hydrogen Peroxide Market Growth Analysis | 2023-2028
Hydrogen Peroxide Market Size, Share, Trends, Dynamics, Forecast, & Growth Analysis: 2023-2028
"The hydrogen peroxide market was estimated at USD 3.32 billion in 2022 and is likely to grow at a CAGR of 5.26% during 2023-2028 to reach USD 4.55 billion in 2028."
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Hydrogen peroxide is a chemical compound that contains both oxygen and hydrogen. It finds extensive use in a wide range of industries. Possessing various properties such as antiseptic and efficient bleaching properties makes it highly suitable in the paper & pulp and the healthcare industry.
The healthcare industry is experiencing a surge in demand for a product due to its antiseptic properties. This product is commonly used as an antiseptic on skin cuts and bruises to prevent infections and is also used as a mouth rinse to relieve mouth irritation and oral infections. The substance releases oxygen, foaming the affected skin, effectively removing dead skin and keeping the wound safe from infection.
COVID-19 Impact
The COVID-19 pandemic has led to a significant increase in global demand for hydrogen peroxide in the production of disinfectant products. Governments worldwide have issued guidelines requiring public and private spaces to be sterilized for over 60 minutes within closed boundaries.
This has led to a significant increase in demand for sanitizers and disinfectant products, with hydrogen peroxide being a key component in the production of these products
Key factors driving the growth of the hydrogen peroxide market are:
Expansion in Water and Wastewater Treatment: The increasing focus on water and wastewater treatment is significantly fueling the demand for hydrogen peroxide. With environmental regulations tightening, both municipalities and industries are on the lookout for effective methods to eliminate contaminants from water. Hydrogen peroxide is gaining traction due to its powerful oxidizing capabilities and is being widely used in advanced oxidation processes to break down organic pollutants. For example, the U.S. Environmental Protection Agency (EPA) points out the importance of hydrogen peroxide in addressing emerging contaminants, highlighting its success in decomposing complex organic compounds found in wastewater.
Eco-Friendly Bleaching in the Pulp & Paper Industry: Hydrogen peroxide is gaining traction in the pulp and paper sector as an eco-friendly bleaching option. Unlike chlorine, it decomposes into harmless water and oxygen, leaving no toxic residues behind. The U.S. EPA endorses it as a safer choice for pulp bleaching, significantly cutting down on harmful waste (EPA Report). A prime example can be found at Louisiana-Pacific’s Samoa mill, which has embraced totally chlorine-free (TCF) bleaching methods, drastically reducing pollution and energy consumption. This clearly illustrates the sustainability benefits of using hydrogen peroxide.
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Storage and Handling Risks: Hydrogen peroxide is a substance that requires careful handling and storage because of its highly reactive and oxidative properties. When in concentrated forms, it can be corrosive and has the potential to decompose explosively if it becomes contaminated. To store it safely, one needs to use specialized, non-reactive containers and maintain strict temperature control. This adds to the complexity of operations and raises compliance demands for all industries that utilize this chemical.
Fluctuating Raw Material Costs: Fluctuations in the costs of raw materials, especially anthraquinone and energy, are creating significant hurdles for the hydrogen peroxide market. The unpredictability of these prices can disrupt production costs, ultimately impacting profit margins and the overall stability of the market. To navigate these challenges and secure long-term sustainability, manufacturers need to adapt their pricing strategies accordingly.
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Segmentations |
List of Sub-Segments |
Dominant and Fastest-Growing Segments |
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End-User Industry-Type Analysis |
Paper & Pulp, Chemical, Wastewater Treatment, Mining, and Others |
The paper & pulp is estimated to maintain its dominance during the forecast period. |
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Regional Analysis |
North America, Europe, Asia-Pacific, and Rest of the World |
Asia-Pacific is estimated to be the leading region in the market during the assessment period. |
"The paper & pulp segment accounted for the largest market share."
The market is segmented as paper & pulp, chemical, wastewater treatment, mining, and others. The hydrogen peroxide market is primarily driven by the paper and pulp segment, which is increasingly adopting environmentally friendly bleaching methods. Manufacturers favor hydrogen peroxide over chlorine-based options due to its safe decomposition into water and oxygen, thus minimizing environmental harm. As paper mills contend with tighter environmental regulations, the demand for sustainable, chlorine-free bleaching solutions is on the rise. Moreover, with the growing production of recycled paper, the need for efficient bleaching agents like hydrogen peroxide becomes essential for maintaining product quality. This transition toward sustainability, efficiency, and adherence to regulations solidifies the paper and pulp industry as the leading consumer of hydrogen peroxide.
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"Asia-Pacific accounted for the largest market share."
Asia-Pacific is estimated to be the leading region in the market during the forecast period. The growth of the region’s market is owing to the increased demand for hydrogen peroxide, especially from the paper & pulp and chemical industries. Furthermore, rapid industrialization and urbanization in nations such as India and Indonesia have supported the growth of the manufacturing sector, largely comprising chemical manufacturing and processing companies. The growing usage of paper in hygiene tissue sheets and food packaging is expected to accelerate the hydrogen peroxide market growth in paper and pulp manufacturing in the Asia-Pacific region in the coming years. North America and Europe are also expected to offer substantial growth opportunities over the forecast period.
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The following are the key players in the hydrogen peroxide market (arranged alphabetically).
Note: The above list does not necessarily include all the top players in the market.
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This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s hydrogen peroxide market realities and future market possibilities for the forecast period of 2023 to 2028. After a continuous interest in our hydrogen peroxide market report from the industry stakeholders, we have tried to further accentuate our research scope to the hydrogen peroxide market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The hydrogen peroxide market is segmented into the following categories:
By End-User Industry Type
By Region
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Company Profiling
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].
Hydrogen peroxide is a chemical compound that contains both oxygen and hydrogen. It finds extensive use in a wide range of industries. Possessing various properties such as antiseptic and efficient bleaching properties makes it highly suitable in paper & pulp and the healthcare industry.
The hydrogen peroxide market was estimated at USD 3.32 billion in 2022.
The hydrogen peroxide market is likely to reach USD 4.55 billion in 2028
The hydrogen peroxide market is likely to grow at a CAGR of 5.26% during 2023-2028.
The paper & pulp segment has the largest share of the market during the estimated time.
Asia-Pacific is estimated to be the leading region in the market during the assessment period.
Arkema S.A., Akzo Nobel N.V., Aditya Birla Chemicals Limited, Evonik Industries AG, Gujarat Alkalies and Chemicals Ltd. (GACL), Kemira Oyj., Kingboard Chemical Holdings Ltd., Mitsubishi Gas Chemical Company, Inc., National Peroxide Limited, Peroxy Chem LLC, and Solvay S.A. are the key companies in the market.
Major factors such as surge in demand from paper & pulp industry, increasing popularity of hydrogen peroxide as a raw material for propylene oxide production (HPPO process), and growing penetration of its niche applications are expected to boost the growth of the market during the forecast period.
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