all report title image
  • Published On : Aug 2022
  • Code : CMI3331
  • Industry : Bulk Chemicals
  • Pages : 260
  • Formats :

Hydrogen peroxide (H2O2) is a colorless liquid slightly viscous than water and bitter in taste at room temperature. Hydrogen peroxide easily decomposes into water and oxygen. It undergoes spontaneous reaction when it comes in contact with any organic material. Lower concentration of hydrogen peroxide (3-9%) is used for medical applications and as a bleach for cloth & hair. Higher concentrations (35%, 50%, and 70%) are generally used in paper & pulp, textile, chemical industries, and as a part of rocket fuel.

The global hydrogen peroxide market was valued at 5,107.01 Kilo Tons in 2021 and is expected to register a CAGR of  3.4% in terms of volume over the forecast period (2022– 2030).

Drivers

Technological advancements in the production of hydrogen peroxide is projected to drive growth of the market in the near future. For instance, in January 2019, researchers at Ulsan Institute of Science and Technology (UNIST, South Korea) announced that they developed a new catalyst to produce hydrogen peroxide using electricity. The researchers developed a high-performance carbon catalyst, which can convert oxygen to hydrogen peroxide.

Hydrogen peroxide is used to make sodium perborate and sodium percarbonate, which are further utilized as bleaching agents in detergent manufacturing. Industry grade hydrogen peroxide is expected to witness increasing demand among consumers due to large number of applications and expansion of the paper and pulp industry across the world.

Hydrogen peroxide is extensively used in various food applications, owing to its biological degradability and remarkable chemical properties. It is the most commonly used as oxidizing reagent for bleaching purpose in the food processing industry. Hydrogen peroxide is majorly used in products such as natural sugars, starches, gums, natural oils, and waxes among others. Hydrogen peroxide is also used in food products such as cheese, whey, instant tea, natural fatty acid emulsifiers, and herring.

Among region, Asia Pacific region accounted for the largest market share of around 44.9% in 2021, owing to high demand & presence of hydrogen peroxide manufacturers in the region. Local players operating in China, India, and South East Asia are investing in hydrogen peroxide industry to tap potential local market. For instance, in June 2019, in India, Meghmani Finechem Ltd (MFL), an essential chemical manufacturing company invested US$ 4,000 Mn for expansion of existing projects and a new project at its facility in Dahej, Gujarat. The company received funding for its projects through internal accruals and the plant was commissioned by June 30, 2019.

Figure 1. Global Hydrogen Peroxide Market Value Share (%), By Region, 2021

Hydrogen Peroxide  | Coherent Market Insights

Market Restraints

Stringent regulations imposed by agencies such as Occupational Safety and Health Administration (OSHA) based on exposure of hydrogen peroxide is expected to hamper the hydrogen peroxide market growth. Moreover, policies implemented by regulatory agencies such as the Food & Drug Administration (FDA), Environmental Protection Agency (EPA), and Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) is expected to hinder growth of the hydrogen peroxide market over the forecast period. For instance, the U.S. Food and Drug Administration (FDA) warn consumers not to use highly concentrated hydrogen peroxide such as 35% food grade hydrogen peroxide for medicinal purposes.

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Hydrogen Peroxide Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: 5,107.01 Kilo Tons
Historical Data for: 2017-2020 Estimated Year: 2022
Forecast Period 2022 to 2030 CAGR: 3.4% Forecast Period: 2022-2030
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Product Type: 35% Hydrogen Peroxide, 50% Hydrogen Peroxide, Others
  • By Application: Paper & Pulp, Textile, Chemical Synthesis, Wastewater Treatment, Personal & Home Care Products, Food, Others
Companies covered:

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 

Growth Drivers:
  • Rising application of hydrogen peroxide in food industry, owing to its biological degradability and remarkable chemical properties 
  • Technological advancements in the production of hydrogen peroxide
Restraints & Challenges:
  • Stringent regulations imposed by agencies such as Occupational Safety and Health Administration (OSHA)

Market Opportunities

Although, pulp & paper, chemical synthesis, and other demand-generating industries continue to lead the industry, specialty application areas have also emerged as significant potential market growth drivers. Recent years have seen a noticeable increase in demand across the electronics sector, which is likely to place it as the fastest-growing end user in future.  The semiconductor industry's growing preference for high-purity concentration grades is projected to create new business opportunities for key players.

Figure 2. Global Hydrogen Peroxide Market Value Share (%), By Application, 2021

Hydrogen Peroxide  | Coherent Market Insights

Among application, paper & pulp segment accounted for the largest market volume share of 46% in the global hydrogen peroxide market in 2021. This segment is expected to hold dominant position in the market over the forecast period, owing to rising adoption of hydrogen peroxide as a clean oxidizing agent by paper & pulp industries.

Global Hydrogen Peroxide Market- Impact of Coronavirus (Covid-19) Pandemic:

The worldwide hydrogen peroxide market is adversely impacted by the COVID-19. Lockdown and closing down of organizations have prompted disturbances in the value chain. Despite the fact that the Covid-19 pandemic has weakened all organizations in the hydrogen peroxide market, manufactures are creating potential opportunities owning to the increasing uses of hydrogen peroxide. The developing interest for industrial hydrogen peroxide in different industries like paper and pulp, mining, chemical, healthcare, wastewater treatment, and textiles are generating revenue streams for manufactures in the hydrogen peroxide market. Manufactures are taking efforts to recover from losses because of the COVID-19 pandemic and exploring different opportunities to overcome challenges in the hydrogen peroxide market.

Recent Developments

  • In July 2019, Solvay S.A., Belgium based chemical company expanded its production capacity in Belgium, Finland, Germany and the Middle East to meet growing demand from consumers in Europe, Middle East and Africa region.
  • In September 2021, Nouryon, Producer of essential chemicals has started its production at new facility in Ningbo, China. This manufacturing plant is used to produce organic peroxides business: tert-Butyl hydroperoxide (TBHP) and tert-Butyl alcohol (TBA). Organic peroxides are essential ingredients in the production of polymers and composites.
  • In May 2020, Kemira Oyj, a chemical company signed an agreement with UPM-Kymmene Corporation, a Finnish forest industry company for expansion of hydrogen peroxide production in Uruguay, South America. Through this agreement, Kemira Oyj expanded its bleaching chemical supply in Uruguay, South America.

Competitive Section

Major players operating in the global hydrogen peroxide market include 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.

Hydrogen peroxide (H2O2) is manufactured by anthraquinone process, in which 2-ethyl-9,10-dihydroxyanthracene (C16H14O2) is converted to 2-ethyl anthraquinone (C16H12O2) and further to form hydrogen peroxide (H2O2). Major part of hydrogen peroxide is used to produce propylene oxide and rest is made available for different industrial applications. Hydrogen peroxide is available in the market at different concentrations. As per concentration, it is used for respective applications. For instance, highly concentrated hydrogen peroxide are used in industrial applications.  

Market Dynamics

Hydrogen peroxide is a green oxidant that decomposes in water and oxygen. It has major applications in bleaching, disinfection, intermediate chemical synthesis, and cleaning/etching. Additionally, hydrogen peroxide is used in mining applications. In 2021, the pulp and paper industry holds dominant share in the hydrogen peroxide market, owing to increasing use of hydrogen peroxide in pulp bleaching and recycled paper deinking. The growth of the pulp industry in Southeast Asia has been particularly strong. Therefore, production of hydrogen peroxide by leading manufacturers is increasing across the Asia Pacific region.

Key manufacturers of hydrogen peroxide are focusing on expanding their production capacities to meet rising demand from customers. For instance, in February 2019, the Hansol Chemical Company expanded its hydrogen peroxide plant in Jeonju, South Korea. Such activities by leading players are positively impacting growth of the hydrogen peroxide market. 

Key features of the study:

  • This report provides an in-depth analysis of global Hydrogen Peroxide market, and provides market size (US$ Million & Kilo Tons) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global Hydrogen Peroxide market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include 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
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
  • The global hydrogen peroxide market report caters to various stakeholders in this industry including investors, suppliers, Hydrogen Peroxide service providers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global Hydrogen Peroxide market

Detailed Segmentation:

  • Global Hydrogen Peroxide Market, By Product Type:
    • 35% Hydrogen Peroxide
    • 50% Hydrogen Peroxide
    • Others
  • Global Hydrogen Peroxide Market, By Application:
    • Paper & Pulp
    • Textile
    • Chemical Synthesis
    • Wastewater Treatment
    • Personal & Home Care Products
    • Food
    • Others
  •  Global Hydrogen Peroxide Market, By Region:
    • North America
      • By Country:
        • U.S.
        • Canada
    • Latin America
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Country:
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East & Africa
      • By Region:
        • Middle East
        • Africa
  • Company Profiles
    • Arkema S.A.
      • Company Overview
      • Product Portfolio
      • Key Strategies
      • Recent Developments
      • Future Plans
    • 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
    • Nouryon

“*” marked represents similar segmentation in other categories in the respective section

Frequently Asked Questions

Global hydrogen peroxide market was valued at 5,107.01 Kilo Tons in 2021.
Rising application of hydrogen peroxide in food industry, owing to its biological degradability and remarkable chemical properties is one of the major factors that is expected to propel growth of the market over the forecast period.
Semiconductor industry's growing preference for high-purity concentration grades are expected to provide lucrative opportunities for the market growth of hydrogen peroxide.
Stringent regulations imposed by agencies such as Occupational Safety and Health Administration (OSHA) based on exposure of hydrogen peroxide is one of the major factors that is expected to hamper growth of the market over the forecast period.
Major players operating in the market include 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.
The market is estimated to grow at around 3.4% CAGR in the forecast period (2022-2030).

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