Hydrogen Peroxide Market Size to Increase from USD 4.30 Billion in 2020 To USD 6.41 Billion in 2028, Driven by Increasing Focus On Sanitization and Water Treatment Applications: Reports and Data

NEW YORK, Sept. 1, 2021 /PRNewswire/ -- Reports and Data has published a latest report titled 'Hydrogen Peroxide Market Size, Share And Industry Analysis By Dilution Type (90% H2O2, 35% H2O2, 6 to 10% H2O2, 3% H2O2), By Application (Bleaching, Oxidizing, Disinfectant, Others), By End-Use Industry (Pulp & Paper, Wastewater Treatment, Chemical Synthesis, Food & Beverage, Mining, Textiles, Cosmetics & Healthcare, Others), And By Region Forecast To 2028'.

The global hydrogen peroxide market size was USD 4.30 Billion in 2020 and is expected to reach USD 6.41 Billion in 2028 and register a revenue CAGR of 5.1% over the forecast period.

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Drivers, Restraints, and Opportunities

Major factors driving market revenue growth include rapid expansion of e-Commerce, food & beverages, and pharmaceutical sectors, increasing demand for pulp and paper for packaging applications, rising focus on treatment of wastewater before discharge, and increasing use in water treatment applications.

Demand for industrial hydrogen peroxide has been increasing significantly for various applications across sanitization and water treatment facilities, industries, and sectors globally owing to simplicity of use and attributes over a wide range area. Rising awareness regarding the adverse effects of discharging untreated wastewater into the environment has been resulting in high usage of hydrogen peroxide in water purification and treatment.

While using hydrogen peroxide, no contact tank is required because the compound works faster than chlorine, destroys iron bacteria and prevents bacterial slime from building up, leaves no trace of chemical residues because peroxide decomposes fully into water, and commercially available (3%) hydrogen peroxide is used as an effective disinfectant on inanimate surfaces, among others.

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Contaminated water and poor sanitation has been the cause for approximately 4 Billion cases of diarrhea per year, resulting in 2.2 million deaths. This has been more associated with developing countries, where sanitization and availability of clean water remain a challenge due to poor infrastructure development in the past. Hydrogen peroxide is used as a disinfectant, to treat inflammation of the gums, and to disinfect (drinking) water. It serves a vital role in combatting excessive microbial growth in water systems and cooling towers.

Besides high usage in pulp & paper and wastewater treatment applications, hydrogen peroxide finds application in chemical synthesis, food grade hydrogen peroxide is used as a bleaching agent in foods such as wheat flour, edible oil, egg white, etc., and to kill microorganisms in food packaging materials used in the food & beverages industry. Peroxides are also used to bleach compounds such as natural oils, sugars, waxes, starch, and others.

Hydrogen peroxide is also used in the mining industry, both as an oxygen source and an oxidizing agent, and in the production process of gold and uranium, ore leaching applications, and in preparation of concentrates. In the textiles industry, hydrogen peroxide is used as a bleaching agent and is suitable for most fibers produced. Hydrogen peroxide is used in cosmetics and personal care products and serves as an antimicrobial and oxidizing agent. It is an ingredient in bleaches and hair dyes, in toothpastes and mouthwashes to whiten teeth and reduce stains, and in bathroom cleaners and laundry stain removers, among others.

However, stringent government regulations associated with manufacturing and usage of hydrogen peroxide, health hazards arising from long-term exposure are some key factors impacting market revenue growth. In addition, rapid shift to digitization and away from paper is also resulting in reducing demand for hydrogen peroxide in the pulp and paper industry.       

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COVID-19 Impact Analysis 

• The COVID-19 pandemic and social distancing norms and restrictions severely disrupted the overall business landscape and operations worldwide.
• Lockdowns resulted in several countries shutting down airports, ports, and commercial and domestic transportation. This had impacted manufacturing activities and operations globally and took a toll on the economy of various countries.
• Sudden and drastic downturn in economic activity caused a slowdown in manufacturing, production, agriculture, fisheries, dairy, textiles, mining, materials, and other industries and sectors and also resulted in employment loss to a major extent.
• Supply impacts were further compounded due to challenges on the demand-side owing to reduced disposable income, depleting savings, and increased concerns and uncertainties.
• Emergence of variants of the virus and rise in infection rates during the initial waves and subsequent lockdowns has severely impacted operations and disrupted supply chains.
• The U.S. Food and Drug Administration (FDA) approved a technology developed by scientific research nonprofit Battelle Memorial Institute for use of concentrated vapor phase hydrogen peroxide in specialized equipment to sterilize used N95 respirator masks and PPE worn by healthcare professionals while treating coronavirus patients during the COVID-19 pandemic.

90% H202 segment dominates other type segments:

Among the dilution type segments, the 90 percent H2O2 segment accounted for largest revenue share of over 45.0% in 2020, and is expected to maintain its dominance over the forecast period. Robust revenue share of this segment is attributed to wide range of industrial applications including for paper and textile bleaching, foam rubber production, and as an element in rocket fuel. Steady demand from paper and pulp, textiles, and foam rubber industries is supporting revenue growth of this segment to a significant extent. In addition, increasing research and development in space and lower orbit is driving demand for hydrogen peroxide as it is one of the leading liquid rocket propellants.

Disinfectant segment revenue growth rate to expand steadily:

Among the application segments, the disinfectant segment accounted for a robust revenue share in the global market and is expected to register a CAGR of 5.9% during the forecast period. The COVID-19 pandemic drew to the fore the urgent need for sanitization and disinfection of surfaces and items and components that were prone to frequent contact or touching. Hydrogen peroxide is an effective disinfectant and demand during the pandemic increased substantially in hospitals, clinics, and vaccination centers. The FDA had approved the use of hydrogen peroxide as a disinfectant for masks, PPE and kits, and other items so as to enable safe reuse during supply shortage.

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Wastewater segment leads among end use segments:

Among the end use segments, the wastewater treatment segment accounted for largest revenue share in 2020 and is expected to register a steady growth rate of 6.8% during the forecast period. Fenton's reagent is a solution of hydrogen peroxide with ferrous iron as a catalyst. The reaction is used to oxidize and destroy organic compounds and contaminants such as trichloroethylene and tetrachloroethylene In addition, rising awareness about the potential negative environmental impacts resulting from discharging untreated wastewater into water bodies and on the surroundings has resulted in deployment of increasingly stringent regulations and norms related to removing organic impurities.

Asia Pacific accounted for largest revenue share in 2020:

Asia Pacific dominated other regional markets in the global market with over 30.0% revenue share in 2020. This can be attributed to increasing focus on wastewater treatment, increasing number of wastewater treatment facilities and plants in countries in the region, rapid growth in industrialization, high demand for clean water, rapid economic, and rising focus on health and wellness following the COVID19 pandemic.

North America accounts for robust revenue share:

North America is expected to account for a robust revenue share over the forecast period. High focus and importance given to wastewater treatment and prevalence of a number of waterborne diseases in the US is a key factor driving demand for this compound for water treatment. Increasing need to reduce phosphorus and nitrogen levels in water sources and rising demand for oxidation of wastewater at treatment facilities are factors driving North America market revenue growth.

Europe holds lead in cosmetics and personal care products:

The hydrogen peroxide market in Europe is expected to continue to account for a robust revenue share in the global market over the forecast period. This can be attributed to Europe being a major hub for various personal care product manufacturers and R&D centers. Increasing demand for personal and cosmetic products that offer multiple benefits to consumers is driving demand for hydrogen peroxide owing to excellent oxidizing abilities, and antimicrobial and disinfectant properties. Countries such as the U.K., France, Italy, Germany, and Spain account for significantly large revenue contribution to the Europe market. In addition, France is the fashion capital of the world, and is base to numerous majors in textile and fashion industries. 

Some Major Companies in the Market:

• BASF SE
• Arkema Group
• Dow Chemicals
• Chang Chun Group
• Grasim Industries Limited
• Evonik Industries AG
• Gujarat Alkali and Chemicals Ltd.
• Guangdong Zhong Cheng Chemicals Co. Ltd.
• Kemira Oyj and Hodogaya Chemical Co. Ltd.

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For the purpose of this report, Reports and Data has segmented the global hydrogen peroxide market on the basis of dilution type, application, end use, and region:        

Dilution Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)

• 90% H2O2
• 35% H2O2
• 6 to 10% H2O2
• 3% H2O2

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Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)

• Bleaching
• Oxidizing
• Disinfectant
• Others

End Use Outlook (Revenue, USD Billion; Kilo Tons; 2018-2028)

• Pulp & Paper
• Wastewater Treatment
• Chemical Synthesis
• Food & Beverage
• Mining
• Textiles
• Cosmetics & Healthcare
• Others

 Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• BENELUX
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia Pacific
• Latin America
• Brazil
• Rest of Latin America
• Middle East and Africa
• Saudi Arabia
• U.A.E.
• South Africa
• Rest of Middle East & Africa

Some points on how the report benefits stakeholders:

• The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
• Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
• The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
• The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
• Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
• The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.

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