Hydrogen Peroxide Market size is set to grow by USD 518.87 million from 2023-2027, Increasing demand for paper from developing and underdeveloped nations boost the market, Technavio

NEW YORK, July 15, 2024 /PRNewswire/ -- The global hydrogen peroxide market size is estimated to grow by USD 518.87 million from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of almost 5% during the forecast period. Increasing demand for paper from developing and underdeveloped nations is driving market growth, with a trend towards innovative use of hydrogen peroxide. However, growing availability of hydrogen peroxide substitutes poses a challenge. Key market players include Aditya Birla Management Corp. Pvt. Ltd., Akzo Nobel NV, Arkema Group, Avantor Inc., BASF SE, Chang Chun Group, Gujarat Alkalies and Chemicals Ltd., Hansol Holdings, Hodogaya Chemical Co. Ltd., Kemira Oyj, Kingboard Holdings Ltd., Merck KGaA, Mitsubishi Gas Chemical Co. Inc., National Peroxide Ltd., Nouryon Chemicals Holding BV, OCI Co. Ltd., PJSC Khimprom, RAG Stiftung, Solvay SA, and Taekwang Group.

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Market Driver

Hydrogen peroxide market growth is driven by advancements in production technology, leading to increased volumes. These improvements have expanded hydrogen peroxide's primary applications, particularly due to population growth and diverse usage techniques. For instance, Stanford University and SLAC National Accelerator Laboratory have collaborated to develop a renewable energy-powered device for hydrogen peroxide production. This innovation uses hydrogen peroxide to oxidize contaminants in groundwater, contributing to environmental sustainability. In the healthcare sector, STERIS Corporation's V-PRO 60 low-temperature sterilization system is a recent development. This system offers cost-effective and productive sterilization for moisture and heat-sensitive devices, using hydrogen peroxide. The V-PRO 60 sterilizer can process a wide range of devices, enhancing sterile processing professionals' productivity. With nearly 55% hydrogen peroxide utilization in all sterilization cycles, this innovative application is expected to fuel the hydrogen peroxide market's growth during the forecast period. 

The Hydrogen Peroxide market is witnessing significant growth due to its diverse applications in various industries. In the Electronic Industry, it's used as a cleaning agent. In Water Treatment, it's a popular choice for effluent decolorization. As a Bleaching Agent, it's used in Paper Industry for Mechanical Pulp, Chemical Pulp, Recyclable Pulp, and Tissue Paper production. In FMCG Products, it's used as an antiseptic for cuts, bruises, infections, mouth rinse, and mouth irritation. The market volume is increasing due to its usage in industries like Tea Bags, Filter Paper, Lightweight Coated Paper, and Cardboard. The Petrochemical Industry uses Hydrogen Peroxide in Organic Food Processing. Nayara Energy is a key player in the market, focusing on production capacity expansion. However, health hazards and side effects like odor and skin irritation are concerns. Market consolidation and price increase due to energy prices are challenges. Historical overview and industry analysis show steady growth, with concentrated forms gaining popularity. Statistics indicate a rise in global paper consumption, driving demand for Hydrogen Peroxide. 

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Market Challenges

• The global hydrogen peroxide market is anticipated to face challenges due to the increasing use of substitutes in various industries. In the pulp and paper industry, the adoption of chlorine-based bleaching agents, sodium dithionate, xylanase enzymes, polyaluminum chloride, and alum is on the rise. These substitutes offer cost-effective solutions and suitable properties for specific applications. For instance, polyaluminum chloride is commonly used in wastewater treatment due to its insipidness, efficient solubility, non-toxicity, high strength, and high basicity. Similarly, in the medical industry, ETO sterilizers have emerged as an alternative to hydrogen peroxide for sterilizing heat and moisture-sensitive medical devices. These sterilizers use ethylene oxide gas, which infiltrates sealed films and cartons to deliver sterility assurance levels. However, the availability of these substitutes may hinder the growth of the hydrogen peroxide market during the forecast period.
• The Hydrogen Peroxide market faces several challenges in various industries. In the realm of personal care and medical industries, biological degradability is a significant concern. Chemical formulators strive to create eco-friendly hydrogen peroxide-based products for personal care, such as hair care formulations and skincare creams, lotions. In medical industries, its oxidizing abilities and antimicrobial properties are crucial. Water borne illnesses drive the demand for hydrogen peroxide in water treatment. Phosphorus and nitrogen removal in wastewater treatment require its oxidation abilities. In the pulp and paper industry, hydrogen peroxide serves as a bleaching agent. In chemical synthesis, it plays a vital role. Intense competition in the market necessitates process reforms and patented technologies. Hydrogen Peroxide functions as a disinfectant, bleaching agent, and oxidant in various sectors like mining, cosmetics and healthcare, textiles. However, supply chain disruptions due to raw material availability, such as Propylene Oxide, pose challenges. The HPPO process is a promising solution to mitigate these issues.

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Segment Overview 

This hydrogen peroxide market report extensively covers market segmentation by

1. Application 
• 1.1 Bleaching
• 1.2 Chemical synthesis
• 1.3 Disinfectant
• 1.4 Others
2. End-user 
• 2.1 Pulp and paper
• 2.2 Textiles
• 2.3 Wastewater treatment
• 2.4 Food and beverages and others
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Bleaching- The bleaching segment dominates the global hydrogen peroxide market due to its extensive usage in various industries, including pulp and paper, pharmaceuticals, textiles, and medical. Hydrogen peroxide's primary role is as a bleaching agent, particularly in textiles, where it brightens clothes and removes stains from both natural and synthetic fibers. Additionally, it enhances fiber properties, making it valuable in fabric manufacturing. The textile industry's growth, especially in developing countries like India, fuels the demand for hydrogen peroxide. India, a significant player in the textile sector, is the world's largest producer of cotton and jute. Consequently, the escalating demand for hydrogen peroxide in bleaching applications across diverse industries is anticipated to drive the global hydrogen peroxide market's expansion throughout the forecast period.

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Learn and explore more about Technavio's in-depth research reports

The global hydrogen market is expanding rapidly, driven by the increasing demand for clean energy solutions. Within this, the global green hydrogen market is particularly significant, leveraging renewable energy sources to produce hydrogen with minimal carbon footprint. This market is expected to grow substantially due to government incentives and advancements in technology. The global hydrogen generation market encompasses various methods, including electrolysis and natural gas reforming, to produce hydrogen for industrial, transportation, and energy applications. Together, these markets are pivotal in the transition to a sustainable energy future.

Research Analysis

Hydrogen Peroxide is a versatile chemical compound with the formula H2O2, known for its disinfectant, bleaching, and oxidizing properties. It functions as an effective disinfectant, eliminating bacteria, viruses, and fungi, making it essential in various industries. In the Pulp and Paper sector, hydrogen peroxide is used for bleaching pulp, enhancing paper brightness and improving product quality. In Chemical Synthesis, it acts as an oxidant, playing a crucial role in the production of Propylene Oxide through the HPPO process. Wastewater Treatment, Mining, Cosmetics and Healthcare, and Textiles industries also benefit from hydrogen peroxide's properties. However, supply chain disruptions due to raw material availability and production challenges can impact the market. Despite its advantages, hydrogen peroxide can pose health hazards, including skin irritation from contact, mouth irritation when used as a mouth rinse, and potential side effects such as mucus production and oral infections. As an oxidant, it releases oxygen, making it an essential antiseptic for treating skin cuts, bruises, and infections.

Market Research Overview

Hydrogen Peroxide is a versatile and essential chemical compound with the formula H2O2. It functions as an oxidant, disinfectant, and bleaching agent. In various industries, hydrogen peroxide is used for pulp and paper bleaching, chemical synthesis, wastewater treatment, mining, cosmetics and healthcare, textiles, and water treatment. The product's antiseptic properties make it an effective disinfectant for cuts, bruises, infections, and oral health issues like mouth rinse and mouth irritation. The pulp and paper industry is a significant consumer of hydrogen peroxide, used in bleaching mechanical, chemical, and recyclable pulp. In water treatment, hydrogen peroxide acts as an oxidizing agent to remove effluent color and improve water quality. It's also used in the mining industry for ore processing and in the electronic industry for cleaning silicon wafers. Supply chain disruptions can impact the availability and price of raw materials like propylene oxide, affecting hydrogen peroxide production through the HPPO process. Health hazards and side effects, such as skin irritation and respiratory issues, necessitate proper handling and safety measures. Hydrogen Peroxide's applications extend to the petrochemical industry, organic food processing, and the FMCG sector. Market consolidation and price increases due to energy prices and production facility expansions can impact the industry. Concentrated forms of hydrogen peroxide are available for online sales, with various production capacities catering to different industries' needs. Historically, hydrogen peroxide has been used for disinfection in public and private spaces, sanitizers, and as a bleaching substance in various industries. Key components like peroxyacetic acid, isopropyl alcohol, and chlorine dioxide are used in biocide chemistries for wastewater treatment. Hydrogen peroxide's environmental friendliness and versatility make it an essential component in water-borne sickness prevention, processed food production, and disposable income-driven markets like packaged edibles and organized retail.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Bleaching
• Chemical Synthesis
• Disinfectant
• Others
• End-user
• Pulp And Paper
• Textiles
• Wastewater Treatment
• Food And Beverages And Others
• Geography
• APAC
• North America
• Europe
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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SOURCE Technavio