February 25, 2024
Hydrogen Peroxide Market

The Hydrogen Peroxide Market Is Driven By Increasing Demand In The Chemical Industry

Hydrogen peroxide is a versatile chemical compound that finds widespread applications across various end-use industries like chemical, agriculture, food & beverages, healthcare and paper & pulp industries due to its germicide, bleaching and oxidizing properties. It is extensively used as a bleaching agent in the pulp & paper industry. Hydrogen peroxide also serves as an antimicrobial agent and disinfectant in the food & beverages industry and finds applications in sanitizing, bleaching and odor removal. In the healthcare industry, it is used for wound cleaning and treatment of minor cuts & burns. With rising demand from these key end-use industries, the global hydroperoxide market has experienced healthy growth over the past few years.

The global Hydrogen Peroxide Market is estimated to be valued at US$ 5460.19 Mn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Increasing demand from the chemical industry remains a key trend driving the hydrogen peroxide market. It has versatile applications as an intermediate in synthesis or as an oxidizing/bleaching agent across various chemical industry segments such as organic and Inorganic chemicals, plastics, resins and polymers manufacturing industries. With chemical industry being one of the major consumers of hydrogen peroxide, the projected growth of the chemical industry will continue to boost hydrogen peroxide market growth over the forecast period. Adoption of environment-friendly bleaching processes in the pulp & paper industry and various value-added applications in waste-water treatment are some other prominent trends expected to positively influence the market growth.

Porter’s Analysis¬†

Threat of new entrants: Low barriers to entry due to availability of raw materials, but capital requirement for manufacturing units is high. Established brands have distribution network advantages.

Bargaining power of buyers: High due to availability of substitutes but brand loyalty exerts counter pressure. Price sensitivity is high for commodity products.

Bargaining power of suppliers: Medium as raw materials are globally available but environmental regulations affect production. Industry concentration is moderate.

Threat of new substitutes: Medium threat from green substitutes as customers focus on sustainability. Regulations support alternate technologies.

Competitive rivalry: Intense competition between global brands and regional players to gain market share. Price wars are common with overcapacity situations.

Key Takeaways

The Global Hydrogen Peroxide Market Demand is expected to witness high growth. The global Hydrogen Peroxide Market is estimated to be valued at US$ 5460.19 Mn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030.

Asia Pacific dominating the market with China leading production and consumption. Demand is increasing from textiles, paper, wastewater treatment applications. Increasing wastewater treatment activities in countries such as China, Japan, India are boosting hydrogen peroxide consumption in the region. Growth of textile and pulp & paper industries also contributes to demand. North America and Europe are established markets and will see moderate growth supported by stringent environmental regulations regarding wastewater treatment.

Key players operating in the hydrogen peroxide market are Solvay SA, Evonik Industries AG, Arkema S.A., AkzoNobel NV, Kemira Oyj, FMC Corporation, Mitsubishi Gas Chemical Co. Inc., Monsanto Company.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it