What is the global market size of Hydrogen Peroxide Market?

Hydrogen Peroxide Market size was valued at USD 5.4 billion in 2021 and is poised to grow from USD 5.65 billion in 2022 to USD 8.6 billion by 2030, growing at a CAGR of 5.2% in the forecast period (2023-2030).

Who are the key vendors in the Global Hydrogen Peroxide Market?

From a global perspective, The market has been characterized by intense competition due to the presence of several recognized brands. Rising competition in the global market space that led to several new product launches, followed by process reform adopted by these multinationals, patented technologies, and project expansions. The majority of the key industry participants involved in manufacturing product are observed to have long-term agreements with regional level personal care, wastewater treatment, textile, healthcare, and chemical manufacturing companies to establish sustainable businesses in the regional ecosystem and increase their market share. 'Solvay S.A.', 'Evonik Industries AG', 'Akzo Nobel N.V.', 'BASF SE', 'Mitsubishi Gas Chemical Company, Inc.', 'PeroxyChem LLC', 'Arkema Group', 'Gujarat Alkalies and Chemicals Ltd.', 'Merck KGaA', 'Kemira Oyj', 'Aditya Birla Chemicals (Thailand) Ltd.', 'Arkema Inc.', 'Kingboard Chemical Holdings Ltd.', 'Hansol Chemical Co. Ltd.', 'Ecolab Inc.', 'Dow Chemical Company', 'Christeyns', 'Apollo Scientific Ltd.', 'Guangdong Zhongcheng Chemicals Inc.', 'Novo Nordisk Pharmatech A/S'

What is the key driver of Global Hydrogen Peroxide Market?

The major factors driving the market growth are growing demand from various end-use industries, rising awareness about the benefits of hydrogen peroxide, increasing focus on water treatment, growing demand from the food industry and growing demand from the healthcare industry.

What is the key market trend for Global Hydrogen Peroxide Market?

Hydrogen peroxide is widely used in the healthcare industry for disinfection, sterilization, and wound care. With the increasing focus on healthcare and the growing demand for medical services, the use of hydrogen peroxide in the healthcare industry is expected to continue to grow in the coming years.

Which region accounted for the largest share in Global Hydrogen Peroxide Market?

The Asia-Pacific region is anticipated to dominate the global Hydrogen Peroxide market. This is explained by the growing influence of the medical, personal care, and chemical formulating businesses in the area. Due to cheaper land prices, the availability of skilled labor, and an improved trade balance, China, India, Thailand, South Korea, and Japan have emerged as important centers for multinationals operating in various sectors to develop their business practices in the nation. Also, Due to the long-term prevalence of water-borne illnesses in the region.

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 2025-2032

Report ID: SQMIG15A2116 | Region: Global | Published Date: July, 2024
Pages: 184 | Tables: 122 | Figures: 77

Hydrogen Peroxide Market Dynamics

Hydrogen Peroxide Market 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.

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.

Hydrogen Peroxide Market Report Snapshots

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Hydrogen Peroxide Market size was valued at USD 3.32 Billion in 2023 and is poised to grow from USD 3.49 Billion in 2024 to USD 5.15 Billion by 2032, growing at a CAGR of 5.01% during the forecast period (2025-2032).

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. '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. '

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.

Asia Pacific held the largest hydrogen peroxide 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.

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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 2025-2032

Hydrogen Peroxide Market Dynamics

Hydrogen Peroxide Market Report Snapshots

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What is the global market size of Hydrogen Peroxide Market?

Who are the key vendors in the Hydrogen Peroxide Market?

What is the key driver of Hydrogen Peroxide Market?

What is the key market trend for Hydrogen Peroxide Market?

Which region accounted for the largest share in Hydrogen Peroxide Market?

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