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Global Hydrogen Peroxide Market to Grow at 4.2% During 2022-2027, Impelled by Increasing Usage of Disinfectants

Published on Dec 30, 2021

According to the latest report by IMARC Group, titled "Hydrogen Peroxide Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global hydrogen peroxide market reached a value of US$ 3.1 Billion in 2021. Hydrogen peroxide refers to a chemical compound that is widely used as a cleaning agent. It is non-flammable in nature and is characterized by a bitter taste and excellent oxidizing properties. Additionally, it is commonly stored in a weak acidic solution along with a stabilizer. It is widely used as an antiseptic for preventing the spread of infections that are caused by minor cuts, burns and scrapes. It generally works by releasing oxygen when applied to the affected area that helps in cleaning the area and removing dead skin cells from the body. 

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Hydrogen Peroxide Market Trends:

The global market is primarily driven by significant growth in the chemical industry. Along with this, the widespread adoption of product variants in the production of disinfectants that are widely used for health and sanitation purposes is providing a boost to the market growth. Moreover, various technological advancements across the globe are creating a positive outlook for the market. For instance, the introduction of inexpensive portable devices that produce hydrogen peroxide from electricity, water and air is anticipated to favorably impact the market growth. Furthermore, the sudden outbreak of the coronavirus disease (COVID-19) has provided a boost to the sales of hydrogen peroxide on the global level. The market is further driven by continuous improvements in the healthcare and pharmaceutical infrastructures. Other factors, including the easy availability of the product through offline and online retail channels and extensive research and development (R&D) activities conducted by key players, are also projected to drive the market growth. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 4.2% during the forecast period (2022-2027).

Market Summary:

  • On the basis of the application, the market has been segmented into chemical synthesis, bleaching, disinfectant, cleaning and etching and others. Among these, chemical synthesis represents the leading market segment. 
  • Based on the end-use, the market has been segregated into pulp and paper, food and beverages, water treatment, textiles and laundry, oil and gas, healthcare, electronics and others. Pulp and paper currently account for the majority of the total market share. 
  • On the basis of the region, the market has been divided into Asia Pacific, Europe, the Middle East and Africa, North America and Latin America. Amongst these, Asia Pacific holds the leading market position.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Solvay, Evonik, Arkema, Kemira Oyj, FMC Corporation, EkO Peroxide LLC (acquired by AkzoNobel), Mitsubishi Gas Chemical Company, PeroxyChem LLC, Aditya Birla Chemicals Limited, Kingboard Chemical Holdings Ltd, BASF SE, Merck, Chang Chun Petrochemical, Guangdong Zhongcheng Chemicals and Hansol Chemical.

 

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