According to the recent report by IMARC Group, titled “Asia Pacific Hydrogen Peroxide Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the hydrogen peroxide market in Asia Pacific is expected to grow at a CAGR of 6.2% during 2023-2028. Hydrogen peroxide (H2O2) is a chemical compound with a pale blue color when in the purest form. It is the simplest peroxide and slightly more viscous than water. Due to its unstable nature, hydrogen peroxide is stored in a weak, acidic solution along with a stabilizer. It possesses mild antiseptic properties owing to which it is used on the skin to prevent infections from scrapes, minor cuts, and burns. When applied to the affected area, hydrogen peroxide releases oxygen, which causes foaming and cleans the area by removing dead skin. At present, hydrogen peroxide is extensively utilized in the water treatment, aquaculture, pulp and paper, textiles, personal care, and electronics industries in the Asia Pacific.
Asia Pacific Hydrogen Peroxide Market Trends:
With the growing environmental awareness among individuals, there has been a sudden shift from virgin to recycled paper products, which has increased the demand for hydrogen peroxide in the Asia Pacific as it is utilized in the deinking process. Apart from this, the chemical compound is also popular as a green oxidant as it produces only water as a byproduct. Due to this, hydrogen peroxide is used as a safer alternative to chlorinated oxidants in various end use sectors. Moreover, it is widely used in the Hydrogen Peroxide Propylene Oxide (HPPO) process, making it an indispensable part of the chemical industry. The rising number of HPPO plants in the Asia Pacific is bolstering the market growth. Furthermore, the growing population and rising disposable incomes have increased the sales of personal care products and electronics. As a result, market players are establishing new electronic grade hydrogen peroxide plants in the region to meet the growing requirement. Additionally, the outbreak of the coronavirus disease (COVID-19) has propelled the demand for hydrogen peroxide due to its disinfectant properties. It is now extensively being used in the production of hygiene-based products like sanitizers and disinfectant liquids.
- Based on the application, the market has been divided into bleaching, chemical synthesis, cleaning and etching, disinfectant, and others.
- On the basis of the end use, the market has been classified into textiles and laundry, water treatment, pulp and paper, healthcare, food and beverages, electronics, oil and gas, and others.
- Country-wise, the market has been segregated into India, Indonesia, China, South Korea, Japan, Australia, and Others.
- The competitive landscape of the market has been analyzed in the report with the detailed profile of the key players operating in the industry.
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||China, Japan, India, South Korea, Australia, Indonesia, Others
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