Hydrogen Peroxide Market

Global Hydrogen Peroxide Market Is Estimated To Witness High Growth Owing To Increasing Demand for Organic Peroxides & Bleaching Agents

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The global hydrogen peroxide market is estimated to be valued at US$5,107.01 Kilo Tons in 2021 and is expected to exhibit a CAGR of 3.4% over the forecast period 2022–2030.

 

A) Market Overview:

Hydrogen peroxide is a chemical compound widely used in various industries as an oxidizing agent, bleaching agent, and disinfectant. It finds applications in industries such as pulp and paper, textiles, healthcare, and water treatment. The increasing demand for organic peroxides and bleaching agents is driving the growth of the hydrogen peroxide market. Additionally, the rising awareness regarding personal hygiene and the need for clean water sources are further propelling market growth.

 

B) Market Dynamics:

The Hydrogen Peroxide Market is driven by two main factors: the increasing demand for organic peroxides and bleaching agents and the growing awareness regarding personal hygiene.

 

Increasing Demand for Organic Peroxides and Bleaching Agents:

Hydrogen peroxide is widely used as a raw material in the production of organic peroxides, which have several applications in the manufacturing of polymers, plastics, and pharmaceuticals. Moreover, hydrogen peroxide is extensively used as a bleaching agent in the pulp and paper industry, textile industry, and water treatment plants. The demand for organic peroxides and bleaching agents is increasing due to their versatile applications, thereby driving the growth of the hydrogen peroxide market.

 

Growing Awareness Regarding Personal Hygiene:

With the increasing focus on personal hygiene and healthcare, the demand for disinfectants and sanitizers has surged. Hydrogen peroxide is a commonly used disinfectant due to its broad-spectrum antimicrobial activity. It is used in the healthcare industry for wound treatment, sterilization, and surface cleaning. The COVID-19 pandemic has further accelerated the demand for hydrogen peroxide-based disinfectants, contributing to market growth.

 

C) Market Key Trends:

One key trend observed in the hydrogen peroxide market is the rising adoption of eco-friendly bleaching agents. With growing environmental concerns and regulations, industries are shifting towards sustainable and eco-friendly alternatives. Hydrogen peroxide is considered a safer and more environmentally friendly bleaching agent compared to chlorine-based bleaching agents. The pulp and paper industry, textile industry, and water treatment plants are increasingly adopting hydrogen peroxide for bleaching purposes, thereby driving this market trend.

 

D) SWOT Analysis:

Strengths:

Versatile applications in various industries

Broad-spectrum antimicrobial activity

 

Weaknesses:

Reactive nature and potential risks associated

Requires careful handling and storage

 

Opportunities:

Growing demand for organic peroxides in pharmaceuticals and plastics industry

Increasing focus on eco-friendly and sustainable alternatives

 

Threats:

Competitors offering alternative chemical compounds

Stringent regulations regarding chemical usage and environmental impact

 

E) Key Takeaways:

Market Size: The global hydrogen peroxide market is expected to witness high growth, exhibiting a CAGR of 3.4% over the forecast period, due to increasing demand for organic peroxides and bleaching agents.

 

Regional Analysis: Asia Pacific is expected to be the fastest-growing and dominating region in the hydrogen peroxide market. The region’s growing pulp and paper industry, textile industry, and water treatment plants are driving the demand for hydrogen peroxide.

 

Key Players: Key players operating in the global hydrogen peroxide market are Arkema S.A., Evonik Industries A.G., Solvay S.A., Mitsubishi Gas Chemical Company Inc., Kemira Oyj, Thai Peroxide Limited (TPL), Taekwang Industrial Co. Ltd., PeroxyChem LLC, Hansol Chemical, and Nouryon.

 

In conclusion, the global hydrogen peroxide market is projected to witness substantial growth due to the increasing demand for organic peroxides and bleaching agents. The market is also driven by the growing awareness regarding personal hygiene and the need for eco-friendly bleaching agents.