Hydrogen Peroxide Market Growth Analysis | 2023-2028

Market Insights

"The hydrogen peroxide market was estimated at USD 3.32 billion in 2022 and is likely to grow at a CAGR of 5.26% during 2023-2028 to reach USD 4.55 billion in 2028."

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Market Dynamics

Introduction

Hydrogen peroxide is a chemical compound that contains both oxygen and hydrogen. It finds extensive use in a wide range of industries. Possessing various properties such as antiseptic and efficient bleaching properties makes it highly suitable in the paper & pulp and the healthcare industry.

The healthcare industry is experiencing a surge in demand for a product due to its antiseptic properties. This product is commonly used as an antiseptic on skin cuts and bruises to prevent infections and is also used as a mouth rinse to relieve mouth irritation and oral infections. The substance releases oxygen, foaming the affected skin, effectively removing dead skin and keeping the wound safe from infection.

COVID-19 Impact

The COVID-19 pandemic has led to a significant increase in global demand for hydrogen peroxide in the production of disinfectant products. Governments worldwide have issued guidelines requiring public and private spaces to be sterilized for over 60 minutes within closed boundaries.

This has led to a significant increase in demand for sanitizers and disinfectant products, with hydrogen peroxide being a key component in the production of these products

Market Drivers

Key factors driving the growth of the hydrogen peroxide market are:

• Surge in demand from the paper & pulp industry.
• The increasing popularity of hydrogen peroxide as a raw material for propylene oxide production (HPPO process).
• The growing penetration of its niche applications are expected to boost the growth of the global market during the forecast period.

Hydrogen peroxide is a crucial raw material in the chemical industry, used in various industrial and manufacturing value chains. Its applications include textile, food processing, electronics, semiconductor, paper & pulp, and construction. The market growth is expected to be driven by rising chemical output and strong economic conditions in emerging countries.

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Key Players

The following are the key players in the hydrogen peroxide market (arranged alphabetically).

• Aditya Birla Chemicals Limited
• Akzo Nobel N.V.
• Arkema S.A
• Evonik Industries AG
• Gujarat Alkalies and Chemicals Ltd. (GACL)
• Kemira Oyj.
• Kingboard Chemical Holdings Ltd.
• Mitsubishi Gas Chemical Company, Inc.
• National Peroxide Limited
• Peroxy Chem LLC
• Solvay S.A.

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By End-User Industry Type

"The paper & pulp segment accounted for the largest market share."

The market is segmented as paper & pulp, chemical, wastewater treatment, mining, and others. The paper & pulp sector dominated the market in 2022 and is estimated to maintain its dominance during forecast period as well. Hydrogen peroxide finds use as a versatile bleaching agent in chemical pulp, mechanical pulp bleaching sequences, and in paper recycling with printed ink removal. Also, it is one of the most important chemicals applied in multi-stage processes in bleaching of kraft pulp.

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Regional Insights

"Asia-Pacific accounted for the largest market share."

Asia-Pacific is estimated to be the leading region in the market during the forecast period. The growth of the region’s market is owing to the increased demand for hydrogen peroxide, especially from the paper & pulp and chemical industries. Furthermore, rapid industrialization and urbanization in nations such as India and Indonesia have supported the growth of the manufacturing sector, largely comprising chemical manufacturing and processing companies. The growing usage of paper in hygiene tissue sheets and food packaging is expected to accelerate the hydrogen peroxide market growth in paper and pulp manufacturing in the Asia-Pacific region in the coming years. North America and Europe are also expected to offer substantial growth opportunities over the forecast period.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s hydrogen peroxide market realities and future market possibilities for the forecast period of 2023 to 2028. After a continuous interest in our hydrogen peroxide market report from the industry stakeholders, we have tried to further accentuate our research scope to the hydrogen peroxide market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The hydrogen peroxide market is segmented into the following categories:

By End-User Industry Type

• Paper & Pulp
• Chemical
• Wastewater Treatment
• Mining
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.