According to the latest report by IMARC Group, titled “Hydrogen Peroxide Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global hydrogen peroxide market size reached US$ 4.4 Billion in 2019. Hydrogen peroxide refers to a chemical compound that occurs as a pale blue, clear liquid in its pure form. Comprising of hydrogen and water, the compound is unstable in nature as it decomposes to oxygen and water in an exothermic reaction. Since it can cause combustion when it comes in contact with organic materials, it is stored in a weak acidic solution along with a stabilizer. It is widely used as an antiseptic to heal the infection caused by burns or minor cuts. It also has strong oxidizing properties owing to which it is used as a bleaching agent in the paper and pulp industry. Apart from this, it also used for deodorizing and removing stains from clothes. Apart from this, it is employed across a vast array of industries in various products, including ear drops, toothpaste, hair relaxers and antiseptic mouthwash.
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 market is primarily driven by the escalating demand from the paper and pulp industry. Hydrogen peroxide is widely used in the industry as a bleaching agent and in the manufacturing of chemical, mechanical and recyclable pulps. The increasing demand for high-quality, as well as recycled paper from the print media and e-commerce sites for packaging purposes, is creating a positive outlook for the market. Apart from this, there is an increasing demand for this compound from the agricultural sector for improving the crop yield. Additionally, governments of various countries are implementing stringent regulations to promote the use of hydrogen peroxide due to its eco-friendly and emission-free properties. This has led to the increasing usage of this compound for water treatment and pollution control applications, which is projected to facilitate the market growth. Hydrogen peroxide also forms a primary component in the Hydrogen Peroxide to Propylene Oxide (HPPO) technology to manufacture propylene oxide sustainably. The escalating demand for propylene oxide from the automotive, construction, and food and beverage industries is therefore expected to provide an impetus to the market growth. On account of the aforementioned factors, the market is projected to reach a value of US$ 5.7 Billion by 2025, expanding at a CAGR of 4.5% during the forecast period (2020-2025).
- Based on the application, the market has been classified into chemical synthesis, bleaching, disinfectant, cleaning and etching, and others. Amongst these, chemical synthesis exhibits a clear dominance in the market.
- Based on the end use, the market has been divided into pulp and paper, food and beverages, water treatment, textiles and laundry, oil and gas, healthcare, electronics, and others. Currently, the pulp and paper industry accounts for the majority of the total market share.
- On the geographical front, Asia Pacific holds the leading position in the market. Other major regions include Europe, Middle East and Africa, North America, and Latin America.
- The competitive landscape of the market has been examined in the report with the detailed profiles of the key players operating in the market. Some of these players include Solvay, Evonik Industries AG, Arkema Group, Kemira Oyj, FMC Corporation, EkO Peroxide LLC (acquired by AkzoNobel), Mitsubishi Gas Chemical Company, Inc., PeroxyChem LLC, Aditya Birla Group, Kingboard Holdings Limited, BASF SE, Merck & Co., Inc., Chang Chun Group, Guangdong Zhongcheng Chemicals Inc., Ltd. and Hansol Chemical Co. Ltd.
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