Global Hydrogen Peroxide Market Size to Reach USD 5.09 Billion in 2032 | Emergen Research

Hydrogen Peroxide Market Sees Rapid Growth with a 4.2% CAGR Forecast

Vancouver, Nov. 13, 2023 (GLOBE NEWSWIRE) — The global Hydrogen Peroxide (H2O2) market size was USD 3.40 Billion in 2022 and is expected to register a rapid revenue CAGR of 4.2% during the forecast period. The increasing adoption of H2O2 in various applications, including fuel cells, energy storage, paper and pulp production, and surface disinfectants, is driving this growth.

Hydrogen Peroxide (H2O2) is a versatile chemical compound that exists as a pale blue liquid in its pure form and is commonly used in diluted solutions for consumer applications. It serves as an oxidizer, bleach, and disinfectant. In industrial settings, more concentrated forms of H2O2 are used, making it indispensable in high-tech industries and specialized applications such as healthcare, beauty and healthcare, food and beverages, and more.

The growing demand for paper and pulp products, driven by population growth and sustainable packaging regulations, has led to increased orders and sales volumes of H2O2. Notably, Solvay launched the ‘Peroxides for the Future (P4F)’ program in 2020 to align its industrial footprint with rising H2O2 demand, indicating a positive outlook for the market.

However, challenges such as health hazards, safety concerns, and rising raw material prices may restrain market growth. The resource-intensive manufacturing process, the corrosive nature of H2O2, and pricing difficulties are factors that potential buyers consider when exploring alternatives.

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Type Insights:

In 2022, the bleaching segment dominated the global H2O2 market due to its application in producing inorganic chemicals and its efficiency in breaking down into water and oxygen when catalyzed. The stability of H2O2 when exposed to heat and light and its high reflectivity make it a preferred choice. The rising demand for papers and textiles further fuels this segment’s growth.

Grade Insights:

H2O2 with >35% concentration is expected to exhibit rapid revenue growth. This grade is used in various applications, including paper production, textiles, chemicals, and wastewater treatment, offering economic and environmental advantages.

Application Insights:

The paper and pulp segment is expected to capture a significant revenue share, driven by the expansion of chemical industries and the increasing use of paper in packaging and personal care products. H2O2 plays a vital role in bleaching and recycling processes in the pulp and paper industry.

End-Use Insights:

The cosmetic segment is anticipated to experience moderately fast revenue growth, with rising demand for healthcare and personal care products. H2O2’s oxidizing and antibacterial properties make it a valuable component in cosmetics, enhancing product effectiveness, safety, and stability.

Regional Insights:

The Asia Pacific led the global H2O2 market in 2022, attributed to rapid industrialization, end-use applications, and increasing demand for disinfectants. H2O2’s environment-friendly properties are driving its use in the pulp and paper industry and other sectors across the region.

North America is expected to witness the fastest revenue growth due to the rising demand for papers, textiles, and personal care products. The U.S. stands as a leading producer and consumer of paper and pulp, contributing significantly to the region’s market.

In Europe, stringent regulations against chlorine-based bleaches in countries like the UK, Germany, and France are driving the adoption of Hydrogen Peroxide. It is approved for various applications, including human hygiene, disinfection, and more.

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Scope of Research

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Major Companies and Competitive Landscape

The global H2O2 market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective Hydrogen Peroxide (H2O2). Some of the major companies included in the global H2O2 market report are:

• Arkema S.A.
• Evonik Industries
• Solvay
• Mitshubishi Gas Chemical Company Inc.
• Kemira Oyj
• Thai Peroxide Limited
• Taekwang Industrial Co., Ltd.
• Peroxy Chem LLC
• Hansol Chemical
• Nouryon
• Indian Peroxide Ltd.
• OCI Company Ltd.
• Thai Peroxide Ltd.
• National Peroxide Limited
• Gujarat Alkies and Chemical Ltd.

Strategic Development

• On 21 April, 2022, Evonik’s Active Oxygen business unit announced a new sustainability strategy aimed at amplifying the positive impact of Hydrogen Peroxide (H2O2), peracetic acid, and persulfates and reducing their environmental footprint. announced. This strategy includes concrete measures to reduce CO2 emissions and increase resource efficiency in the production of these chemicals, with the aim of achieving climate neutrality across business sectors by 2040.
• On 15 May 2020, Kemira Oyj, based in Helsinki, Finland, entered a long-term agreement with UPM-Kymmene Corp. This contract is set to be extended and broadened for the supply of bleaching chemicals in Uruguay, pending the necessary environmental permits. This new arrangement will encompass the capability to serve both the existing pulp mill in Fray Bentos and upcoming UPM pulp mill in Paso de los Toros, which is currently under construction with a capacity of 2.1 million tons. Kemira’s total investment is expected to be around USD 30 million directed towards enhancing the bleaching chemicals facilities, a component of the chemical island at the UPM Fray Bentos site.

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For the purpose of this report, Emergen Research has segmented the global Hydrogen Peroxide (H2O2) market on the basis of type, grade, application, end-use, and region:

• Type Outlook (Revenue, USD Billion; 2019-2032)

• • Disinfectants
  • Bleaching
  • Others

• Grade Outlook (Revenue, USD Billion; 2019-2032)

• • >35% concentrations
  • <35% concentrations

• Application Outlook (Revenue, USD Billion; 2019-2032)

• • Paper and Pulp
  • Chemical Synthesis
  • Wastewater Treatment
  • Personal and Home Care Products
  • Others

• End-use Outlook (Revenue, USD Billion; 2019-2032)

• • Chemical Industries
  • Agriculture
  • Pharmaceuticals
  • Textile Industries
  • Cosmetics
  • Mining
  • Electronics
  • Others

• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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