Hydrogen Peroxide Market to Reach USD 4.90 billion by 2031, Growing at 5.01% CAGR | SkyQuest Technology
Westford, June 27, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the Global Hydrogen Peroxide Market will attain a value of USD 4.90 Billion by 2031, with a CAGR of 5.01% during the forecast period (2024-2031). Hydrogen peroxide is one of the primary components for making disinfectants and sanitizing products. This chemical is extremely popular in the medical sector as an antiseptic as it is typically used for skin wounds and cuts to prevent infection. It is also used as a mouth rinse due to its ability to relieve mouth irritation, mucus, and other oral infections. The material predominantly releases oxygen, which promotes foaming on bruised and wounded skin, resulting in effective dead skin removal while protecting the injured area from infection.
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Browse in-depth TOC on the “Hydrogen Peroxide Market”
- Pages – 184
- Tables – 122
- Figures – 77
Hydrogen Peroxide Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $3.32 Billion |
| Estimated Value by 2031 | $4.90 Billion |
| Growth Rate | Poised to grow at a CAGR of 5.01% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Function, Grade, Application, and End-use Industry |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Increasing focus on healthcare is boosting the hydrogen peroxide market due to its usage as disinfectant and wound care |
| Key Market Opportunities | Rising awareness about the advantages of hydrogen peroxide |
| Key Market Drivers | Increasing demand from various end-use industries. |
Usage of Hydrogen Peroxide in Pulp and Paper Industry is Increasing Driving Market Growth
Hydrogen peroxide is used in several sectors, such as textiles, personal care, healthcare, and pulp and paper. However, the pulp and paper industry is one of the primary end users of hydrogen peroxide. It is used to bleach wood pulp, which is a necessary step in making paper. Paper products are becoming more popular among people because they are environmentally friendly, driving the demand for hydrogen peroxide in the pulp and paper industries.
Environment Friendly Nature of Hydrogen Peroxide Boosting Demand in the Market
Hydrogen peroxide is an environmentally friendly chemical that is widely used for cleaning, bleaching, and disinfection. When compared to other hazardous substances this solution is a promising replacement because it breaks down into water and oxygen without leaving any dangerous residues behind.
Rapid Expansion of Business in Asia-Pacific Region Due to High Rate of Water-Borne Diseases
The global market for hydrogen peroxide is expected to be dominated by the Asia-Pacific region. One of the primary factors leading to the high demand can be explained by the increasing impact of the local chemical, personal care, and medical formulating industries. China, India, Thailand, South Korea, and Japan have become significant hubs for multinational corporations operating in several industries to advance their business operations because of lower land prices, easier access to skilled labor, and an improved trade balance. The popularity of the solution is increasing in these regions also because water-borne infections are common and it is used for purification. North America is expected to lead the market. The United States cleanses around 34 billion gallons of contaminated water to ensure that it is safe for locals to drink. One of the fundamental needs of the nation is the extraction of nitrogen and phosphorus from water sources, along with the oxidation of wastewater.
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Hydrogen Peroxide Market Insights
Drivers:
- Increasing focus on water treatment boosting the hydrogen peroxide market
- Rising demand for textile products as it is used for bleaching, dying, and during finishing process
- Growing demand for clean water from emerging economies like India, China, and Brazil
Restraints:
- Hydrogen peroxide manufacturing and use is governed by strict laws
- High production cost due to geopolitical conflicts and price of raw materials
- Availability of numerous alternatives to hydrogen peroxide
Prominent Players in the Hydrogen Peroxide Market
The following are the Top Hydrogen Peroxide Companies
- Solvay S.A.
- Evonik Industries AG
- Akzo Nobel N.V.
- BASF SE
- Mitsubishi Gas Chemical Company, Inc.
- PeroxyChem LLC
- Arkema Group
- Gujarat Alkalies and Chemicals Ltd.
- Merck KGaA
- Kemira Oyj
- Aditya Birla Chemicals (Thailand) Ltd.
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Key Questions Answered in Global Hydrogen Peroxide Market Report
- What is the estimated 2031 market value for the global hydrogen peroxide market?
- Which region is projected to have the largest share in the hydrogen peroxide market?
- What are the primary restraints hindering growth of the hydrogen peroxide market?
This report provides the following insights:
- Analysis of key drivers (Rising demand among end-users, increasing awareness about the advantages of hydrogen peroxide, growing demand from food industry, and high usage in the personal care sector as a brightening agent for teeth and hair), restraints (Strict regulation in many nations, availability of substitutes, and high price of raw materials), opportunities (Eco-friendly chemical that decomposes in water and oxygen, a specialty chemical that is used for disinfection and bleaching, high usage in food industry for sterilization), and challenges (Has limited shelf-life and high production cost) influencing the growth of hydrogen peroxide market
- Market Penetration: Comprehensive information on the product offered by the top players in the hydrogen peroxide market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the hydrogen peroxide market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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