USD 5.66 billion
Hydrogen Peroxide Market Size, Share, Growth Analysis, By Grade(90% H2o2, 35% H2o2, 6-10% H2o2, and 3% H2o2), By Application(Chemical Synthesis, Disinfectant, Bleaching, Cleaning & Etching), By Industry(Pulp & Paper, Food & Beverage, Textile, Oil & Gas), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2116 |
Region:
Global |
Published Date: July, 2024
Pages:
184
|Tables:
122
|Figures:
77
Hydrogen Peroxide Market Insights
Global Hydrogen Peroxide Market size was valued at USD 3.16 Billion in 2022 and is poised to grow from USD 3.32 Billion in 2023 to USD 4.90 Billion by 2031, growing at a CAGR of 5.01% during the forecast period (2024-2031).
The global hydrogen peroxide market is growing at a fast pace since it finds immense application in several industries such as healthcare, electronics, textiles, and pulp & paper. Hydrogen peroxide applications in water treatment systems have been increasingly viewed for their wonderful oxidation properties, odor control, and disinfecting abilities. It is used in water purification because it breaks down bacteria, decomposes organic pollutants, and restrains bad odors. With the growing concern over the disinfection byproducts of chlorine, hydrogen peroxide is witnessed as a non-chlorine alternative that can meet strict environmental legislation. Moreover, due to its strong bleaching properties, hydrogen peroxide is suitable for bleaching paper and fabrics. In the medical field, it is used as an antiseptic and antibacterial agent. It is an excellent disinfectant and oxidizer for use in food applications, housekeeping, personal hygiene, and water purification. This wide range of uses is driving the growth of the hydrogen peroxide market.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Disinfectant
Fastest Growth
Disinfectant
Growth Rate
6.82% CAGR
Global Hydrogen Peroxide Market ($ Bn)
Country Share for Asia-Pacific Region (%)
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Hydrogen Peroxide Market Segmental Analysis
The global hydrogen peroxide market is segmented into grade, application, industry, and region. Depending on grade, the market is classified into 90% H2o2, 35% H2o2, 6-10% H2o2, and 3% H2o2. By application, it is categorized into chemical synthesis, disinfectant, bleaching, cleaning & etching, and others. According to Industry, the market is divided into pulp & paper, food & beverage, textile, oil & gas, and others. Region wise, it is analyzed across North America, Asia-Pacific, Latin America, Middle East & Africa, and Europe.
Analysis By Application
The bleaching segment dominated the market in 2020. The chemical is widely utilized in the textile, medicinal, and pulp and paper sectors as a bleaching agent. In the medical industry, the substance is particularly useful for mouthwash, dental bleach, hair bleach, and maintaining oral hygiene. A greater percentage of the chemical is consumed by the textile industry in the form of a bleaching agent, a process that usually lightens the clothes besides removing any stains from the natural and synthetic fibers. Given its ability to enhance the mechanical properties of fibers or cloth, its use is widely adopted during the fabric preparation stage.
The disinfectant segment is expected to increase at the fastest rate during the projection period. This makes sense given the product's extreme indulgence in producing an array of cleaning and hygiene options. The first quarter of 2020 saw a global viral outbreak, which caused a sharp increase in demand for this service. This led to a significant growth in the manufacturing of floor cleaners, hand sanitizers, and indoor and outdoor glass cleaners, among other disinfection products. Due to these, hydrogen peroxide is now widely employed as a disinfectant, and this trend is predicted to last for some time.
Analysis By Industry
The pulp and paper segment dominated the market. Like bleach, the substance is recognized for being chlorine-free and is consequently considered an essential part of the pulp and paper industry globally. It is used appropriately to enhance the mechanical and chemical properties of pulp and elevate the caliber and intensity of paper. As it is easy to use, provides superior quality, reduces production costs, and is ecologically friendly, the industry is witnessing an increase in demand for it.
The healthcare segment is expected to increase at the fastest rate during the forecast period. This is attributed to the extensive demand for the product resulting from the rapid manufacture of sanitization and disinfection solutions by many multinational firms across the globe. Over an extended period following the pandemic, there would be a huge global increase in demand for these commodities due to increased public awareness of the need of these healthcare requirements in daily life.
Global Hydrogen Peroxide Market By Application
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Hydrogen Peroxide Market Regional Insights
Asia Pacific held the largest market share of 42% in 2023 and is likely to continue the same position during the forecast period. This is attributed to a rise in the application base in the pharmaceuticals and chemical formulators industries, combined with personal care products in this region. China, India, Thailand, South Korea, and Japan have emerged as key hubs for multinational firms operating in numerous industries to expand their business operations in the country due to their lower land prices, greater trade balance, and access to trained workforce.
The growing demand for a variety of personal hygiene products in the market has led to an increase in the use of hydrogen peroxide in Europe. The product's increasing demand in this application is largely due to its antibacterial and oxidizing properties. Cosmetics and personal care products, such as hair care formulas and skincare creams and lotions, have grown in popularity in the UK, France, Italy, Germany, and Spain. This is primarily because cosmetic companies are entering these countries more frequently to gain market share.
Global Hydrogen Peroxide Market By Region
- Largest
- Fastest
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Hydrogen Peroxide Market Dynamics
Drivers
Rise in Use of Disinfectants in Water Treatment Industry
-
The application of hydrogen peroxide in water treatment systems has been expanding due to its excellent oxidizing, odor-controlling, and disinfecting properties. It is crucial for water filtration as it gets rid of bacteria, breaks down organic pollutants, and controls unpleasant smells. Hydrogen peroxide will establish itself as a chlorine-free alternative with strict environmental legislation, bound by growing concerns over chlorine's disinfection byproducts. Growing focus on sustainability and compliance with legislation, combined with rising adoption of hydrogen peroxide as a green water treatment agent, is expected to further enhance the market.
Wide Range of Applications to Support Market Growth
-
There are several uses for hydrogen peroxide in commercial, industrial, and domestic contexts. Due to its strong bleaching properties, it is suitable for bleaching paper and fabrics. In the medical field, it is used as an antiseptic and antibacterial agent. It is an excellent disinfectant and oxidizer for use in food applications, housekeeping, personal hygiene, and water purification. This wide range of uses is driving the growth of the hydrogen peroxide market.
Restraints
Potential Health Concerns Could Prohibit Product Adoption
- Due to its strong oxidizing qualities, the substance could be damaging to the respiratory system, eyes, and skin. If not properly managed, prolonged contact can irritate the skin and eyes, bleach the hair, and cause skin bleaching. Moreover, the fact that it is incompatible with most raw materials, such as copper alloys and heavy metals, causes self-accelerated thermal degradation. It needs to be handled and stored carefully to avoid any health dangers.
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Hydrogen Peroxide Market Competitive Landscape
Global competition has been intense due to the abundance of well-known brands on the market. Increasing competition in the global market has led to the launch of several new goods, which have been followed by project extensions, technical patents, and process modifications by large multinational companies. Most of the major industry participants involved in the product's manufacturing are witnessed to have long-term agreements with regional level personal care, healthcare, wastewater treatment, textile, and chemical manufacturing companies to build sustainable businesses in the regional ecosystem and grow their market share.
Top Player’s Company Profiles
- Solvay S.A.
- BASF SE
- The Dow Chemical Company
- PeroxyChem LLC
- Aditya Birla Chemicals
- Ecolab Inc.
- Thai Peroxide Co., Ltd.
- OCI Company Ltd.
- Arkema Group
- Evonik Industries AG
- Akzo Nobel N.V.
- National Peroxide Limited
- Ak-Kim Kimya
- Anhui Jinhe Industrial Co. Ltd.
- Solvay Chemicals Inc.
Recent Developments
- In January 2024, Solvay and Huatai announced plans to increase its production of hydrogen peroxide in China. Increasing demand for hydrogen peroxide in the solar sector as a cleaning agent in the manufacturing process of photovoltaic cells prompted the decision to increase their production capacity. As part of the expansion plan, the joint venture is projected to manufacture 48,000 tons of photovoltaic-grade hydrogen peroxide annually starting 2025.
- In April 2020, Gujarat Alkalies and Chemicals announced the partial commencement of operations at the polyaluminum chloride plant and the hydrogen peroxide plant located at Dahej.
- In June 2020, Nouryon revealed its plan to build an advanced manufacturing unit at its existing operations site in Ningbo, China. This would produce two key intermediates for the company's organic peroxide business.
Hydrogen Peroxide Key Market Trends
Encouraging Use of H2O2 in Food and Electronic Applications to Foster Growth
- Among other things, food-grade hydrogen peroxide is used as a bleaching and antibacterial agent in the manufacturing of cheese and instant tea. Moreover, it is approved for use as a sterilizing agent in aseptic packaging. To adjust to the changing demands of their customers, firms are consequently introducing new grades.
Hydrogen Peroxide Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, hydrogen peroxide is in great demand, especially in the Asia-Pacific region where the hydrogen peroxide market is expected to increase significantly. This increase can be attributed to hydrogen peroxide's low production costs and environmental friendliness. It is widely used in many different industries, including medicines, textiles, energy, water treatment, and semiconductors. Growing demands from the food industry, the healthcare sector, and more focus on water treatment are driving the market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 3.16 Billion |
| Market size value in 2031 | USD 4.90 Billion |
| Growth Rate | 5.01% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Hydrogen Peroxide Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Hydrogen Peroxide Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Hydrogen Peroxide Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Hydrogen Peroxide Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Hydrogen Peroxide Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Hydrogen Peroxide Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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