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The Global Hydrogen Peroxide Market was Valued at US$ 4.82 Bn in 2019 and it is Expected to Reach More than US$ 7.35 Bn by 2028, Likely to Grow with the CAGR of 4.8 % During the Forecast Period.
Hydrogen Peroxide is a transparent liquid which is used in several industries as a disinfectant or bleaching agent. The global hydrogen peroxide market is anticipated to witness moderate growth in the forthcoming years. Some of the major factors fuelling the growth of global market include rising popularity of these chemicals as a raw material in production of propylene oxide, wide range of application, and significant adoption from paper & pulp industry.
Rising Demand from Paper & Pulp Industry is anticipated to propel the Market Growth
Hydrogen Peroxide is majorly being used in paper & pulp industry for several applications. These chemicals are used for bleaching of mechanical pulp, recycle fibres, and chemical pulp. Hydrogen peroxide is cost efficient and helps in improving brightness of these pulps. Also, it oxidizes the chromophores in mechanical pulp and keeps the pulp yield high. Moreover, these chemicals are able to minimize the chances of yellowing recycled paper and can remove ink stain from it. Furthermore, hydrogen peroxide acts as a feedstock in the production of produce propylene. These all factors are anticipated to fuel the growth of global market during the forecast period.
However, rising prominence of paperless work and digitalization across the globe might hamper the growth of global hydrogen peroxide market in coming years.
Paper & Pulp Segment is Estimated to Dominate the Global Hydrogen Peroxide Market Throughout the Forecast Period
Based on end-use industry, the paper & pulp industry is anticipated to occupy prominent share over the forecast timespan. This is mainly due to rising demand for paper in recycling and packaging sector. Home delivery options are increasing popularity owing to rising number of working populations which promoted the usage of flexible packaging. This is expected to further propel the segment growth.
Furthermore, the mining sector is anticipated to witness noteworthy growth during the forecast period. Hydrogen Peroxide is environment friendly which makes it applicable to be used in preparation and leaching of concentrates, uranium production, and some advanced oxidation processes.
Asia Pacific is Anticipated to Lead the Global Market During the Forecast Timespan
By geography, Asia Pacific is anticipated to occupy prominent share over the forecast period. China is the largest contributor for the growth of hydrogen peroxide market in Asia Pacific. China is considered as a hub for chemical production and one of the largest production nations for paper & pulp. This is expected to favour the regional growth. Moreover, lower production cost for hydrogen peroxide in Asian countries such as China and India are expected to create growth opportunities for hydrogen peroxide in Asia Pacific.
Moreover, North America is the second largest share holder in global hydrogen peroxide market. Significance presence of prominent players in North America is anticipated to poise a positive impact on the regional growth. Hydrogen Peroxide is also used as disinfectant in medical industry. The U.S. government is significantly spending in healthcare industry which is anticipated to fuel the regional growth.
Key players operating in global Hydrogen Peroxide market include Kingboard Chemical Holdings Ltd, Arkema S.A., Gujarat Alkalies and Chemicals Ltd., Evonik Industries AG, Aditya Birla Chemicals Limited, Solvay S.A., PeroxyChem LLC, Akzo Nobel N.V., Mitsubishi Gas Chemical Company, Inc., and Kemira Oyj.
Global Hydrogen Peroxide Market by Application
Global Hydrogen Peroxide Market by End-Use Industry
- Paper & Pulp
- Chemical Synthesis
- Cosmetics & Healthcare
- Wastewater Treatment
- Food & Beverages
Global Hydrogen Peroxide Market by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America