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  • Published In : Apr 2024
  • Code : CMI3331
  • Pages :260
  • Formats :
      Excel and PDF
  • Industry : Bulk Chemicals

Market Size and Trends

The global hydrogen peroxide market is estimated to be valued at USD 3.55 Bn in 2024 and is expected to reach USD 5.02 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5.1% from 2024 to 2031.

Hydrogen Peroxide Market Key Factors

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Factors such as increasing demand from end-use industries including pulp & paper, chemical synthesis, and water treatment, coupled with growth in the personal care and healthcare industries will drive the market growth. Additionally, rapid industrialization and urbanization in emerging economies have increased the demand for wastewater treatment, which requires hydrogen peroxide. Also, increasing adoption of hydrogen peroxide as an environment-friendly bleaching agent in the pulp & paper industry is further expected to propel the market growth.

Expanding uses in the paper and pulp industry

The global hydrogen peroxide market has been witnessing steady growth over the past few years due to its expanding applications in the paper and pulp industry. As one of the largest end-use sectors, the paper and pulp industry utilizes hydrogen peroxide for bleaching papers and removing wood lignin content. The usage of hydrogen peroxide for bleaching has various environmental benefits as compared to traditional chlorine-based methods. It leaves no residues and breaks down into water and oxygen, thus reducing pollution. With growing awareness about sustainability, more paper manufacturers are switching to hydrogen peroxide for their bleaching needs.  Additionally, demand for higher-quality bleached paper grades is rising globally with the development of the packaging and tissue paper segments. Customers prefer bright and vibrant packaging for marketed products along with soft and bright tissue papers. As hydrogen peroxide allows achieving desired shade and brightness levels efficiently, its dependence is deepening within the papermaking sector. For example, recent data from the European Commission shows that over 60% of paper mills in Europe have already adopted hydrogen peroxide partially or fully for bleaching. This transition is likely to continue as sustainability becomes a key business priority. Future projections by the Food and Agriculture Organization (FAO) also favor market growth. The FAO report estimates world demand for paper to increase by over 40% between 2020 and 2030 driven by the global middle-class population expansion. With this sharp rise, pulp and paper mill capacities are expected to simultaneously strengthen. This would translate to augmented hydrogen peroxide needs for bleaching the additional paper production over the coming decade. Thus, expanding applications as an eco-friendly bleaching agent for the steadily growing paper industry will remain a key factor driving the global hydrogen peroxide market in the near future.

Rising needs of water treatment applications

Clean and safe water is crucial for industries, communities as well as populations at large. With growing concerns about water pollution and contamination of water bodies, there is heightened focus on advanced purification of water supplies. Hydrogen peroxide has emerged as a workhorse chemical for treating wastewater discharged from varied industries before its disposal. It helps remove toxins and neutralize pathogens. Similarly, drinking water treatment plants too are leveraging hydrogen peroxide to sanitize and disinfect water. This ensures high-level safety. Its properties of decomposing into water and oxygen without forming any harmful residues make it an environment-friendly disinfectant. Additionally, many municipal corporations in urban areas are installing hydrogen peroxide producing units for decentralizing water treatment activities. Thus, the rapidly expanding water treatment infrastructure and rising focus on recycled water utilization are fueling the demand for hydrogen peroxide in this strategically important application sphere.

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