Hydrogen Peroxide Market is Expected to Grow at a CAGR of 5.88% by 2032 | ChemAnalyst

Hydrogen Peroxide (H2O2) is a reactive chemical compound which is pale blue and slightly viscous in nature. It contains single oxygen-oxygen bond and possesses oxidizing properties which makes it suitable for various cosmetic and medical, as a disinfectant, and a bleaching agent. Hydrogen Peroxide has wide range of applications in cosmetics, detergents & disinfectants and chemical manufacturing due to its highly effective anti-bacterial and anti-viral properties.

The hydrogen peroxide market is expected to witness major expansion with the increasing demand from the pulp and paper industry.  In the textile sector, hydrogen peroxide is frequently employed as a bleaching agent, which significantly adds to the market growth rate. Foods products like wheat flour and rice are cleaned and bleached using hydrogen peroxide to enhance colour which further contributes to the hydrogen peroxide market expansion. In sanitization, Hydrogen Peroxide find its application as a mild antiseptic to prevent infections, which adds to the market expansion. In pulp industries, hydrogen peroxide is widely used for bleaching of chemical, mechanical and recycled pulp. This chemical increases the brightness levels, stability and reduces the manufacturing cost of paper.

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The global Hydrogen Peroxide market is segmented based on end-use, sales channel, and region. Based on the end-user industry, the global Hydrogen Peroxide market is segmented into Paper & Pulp, Textiles, Water & Waste Water Treatment, Food Processing, Electronics & Semiconductors, Pharmaceuticals, and Others. Among these, the Paper & Pulp industry is dominating the Hydrogen Peroxide market. This industry consumed approximately 47% of the market in 2022 and is anticipated to domain the market in the forecast period as well. Hydrogen Peroxide is frequently used in the paper industry to produce high-quality paper and packaging purposes. Globally, rate of paper consumption has been rising over the past few years and is likely to augment market expansion in future. However, the textiles sector also uses hydrogen peroxide extensively and constitutes a sizeable portion of the market. Furthermore, due to its powerful oxidizing capacity, hydrogen peroxide is used as a bleaching agent in certain edible products including wheat flour, edible oil, egg white, etc. in countries like the US, Canada, Australia, and New Zealand.

Based on demand by region, Asia Pacific dominates the global Hydrogen Peroxide market followed by Europe. In 2022, Asia Pacific consumed approximately 35% of total Hydrogen Peroxide globally produced. This region is anticipated to foresee a market expansion in the forecast period as it is a hub for paper consumption, textile production, healthcare, and personal care products and has a presence of a huge population. Asia Pacific also holds the majority production capacity of Hydrogen Peroxide with China being the key player. Furthermore, China is the hub of polymers and plastics, and many companies have set up manufacturing plants. However, Europe is the second largest consumer of Hydrogen Peroxide. With the increasing demand in the European market for numerous personal care goods, the demand for hydrogen peroxide will most likely rise in future. Germany plays a significant role in the expansion of the European market. Additionally, the prominence of major firms like Solvay S.A., Evonik Industries A.G., and Arkema S.A. fosters competition for the development of this region.

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“Global Hydrogen Peroxide Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, 2015-2032”, the significant players functional in the Hydrogen Peroxide market include Evonik Industries AG, SOLVAY, Arkema S.A, Mitsubishi Gas Chemical Company (MGC), Sunkyong Chemicals Ltd., Oci Chemicals, National Peroxide Limited (NPL), Indian Peroxide Limited (IPL), Eka Chemicals, Kemira Oyj, Taekwang Industrial Co. ltd., and Others.

“Being linked to the downstream application such as Paper & Pulp, Textiles, Water & Waste Water Treatment, Food Processing, Electronics & Semiconductors, and Pharmaceuticals, the global Hydrogen Peroxide industry has shown a robust growth in the past years. Fast-growing demand for paper products upstream, like tissues, filters, tea bags, is anticipated to swell the demand for Hydrogen Peroxide across the globe. With growing usage of hydrogen peroxide across these industries is likely to offer new opportunities for the major players to expand their capacities to meet the rising demand for Hydrogen Peroxide which ultimately boost Hydrogen Peroxide market in the forthcoming years. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.

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