by The global Hydrogen Peroxide Market is estimated to be valued at US$ 5460.19 KT in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Hydrogen peroxide is a water-based oxidizer and bleaching agent used in various industrial applications including pulp and paper bleaching, disinfection, water treatment, electronics manufacturing and organic synthesis. Hydrogen peroxide breaks down into water and oxygen, thus leaving no harmful residues. It is safer to use as compared to chlorine for bleaching. The pulp bleaching application holds majority share in the overall market due to its superior oxidizing properties and eco-friendly nature.
Market key trends:
One of the key trends gaining traction in the hydrogen peroxide market is its growing application in wastewater treatment. Hydrogen peroxide helps in oxidizing organic contaminants in wastewater and allows better separation from water. This helps in meeting more stringent regulations regarding wastewater discharge. It is being used as an alternative to chlorine for disinfection of municipal and industrial wastewater. Also, increasing environmental concerns regarding usage of chlorine is driving wastewater treatment facilities to adopt hydrogen peroxide on a larger scale. Asia Pacific region is witnessing strong growth in wastewater treatment application owing to growing industrialization and urbanization.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate due to the requirement of vast production facilities and distribution networks to manufacture and supply hydrogen peroxide on a large scale.
Bargaining power of buyers: The bargaining power of buyers is high owing to the fragmented nature of buyers and availability of substitutes.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as suppliers have to face competition from various manufacturers.
Threat of new substitutes: The threat of new substitutes is high as there are various substitutes available for hydrogen peroxide such as chlorine dioxide, peracetic acid, and ozone. Competitive rivalry: High
Key Takeaways
The Global Hydrogen Peroxide Market Size is expected to reach US$ 5460.19 KT by 2023, exhibiting a CAGR of 3.4% over the forecast period, owing to increasing demand from paper & pulp industry as a bleaching agent.
Regionally, Asia Pacific dominated the global hydrogen peroxide market in 2023 and is expected to maintain its dominance during the forecast period. Factors such as rapid industrialization and growth of end-use industries including paper & pulp and wastewater treatment in emerging economies like China and India are driving the demand for hydrogen peroxide in the region.
Key players operating in the hydrogen peroxide market are 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. Major players are focusing on strategic partnerships and collaboration to gain higher shares.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
