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The hydrogen peroxide market size is estimated to grow by USD 545.5 million at a CAGR of 5.02% between 2023 and 2028. The market exhibits robust growth, primarily driven by the expanding demand in the paper industry, where hydrogen peroxide functions as an effective bleaching agent. Furthermore, its extensive utilization in various industrial applications adds to the market expansion. The versatility of hydrogen peroxide as a disinfectant is another significant factor fueling growth, given the increasing emphasis on hygiene and sanitation. This eco-friendly oxidizing agent offers numerous benefits, including minimal environmental impact and high efficiency, making it a preferred choice across multiple sectors.
The market is driven by various factors including its versatile applications in the cosmetic products, healthcare, and mining industries. Manufacturers are innovating to enhance product functions and meet evolving consumer needs. However, supply chain disruptions and raw material challenges pose significant hurdles. Despite its antiseptic properties, hydrogen peroxide may cause health hazards and side effects like skin irritation and oral infections. Nonetheless, its effectiveness in treating skin cuts, bruises, and infections, as well as its use in mouth rinse, highlight its importance in the healthcare industry, promising continued market growth amidst challenges. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the market growth analysis is the use of hydrogen peroxide as a disinfectant. There is an increasing adoption of hydrogen peroxide as an antimicrobial chemical. Additionally, it is extensively used in both gaseous and liquid forms for disinfection, preservatives, and sterilization. The main advantages are its flexibility in use, potent and broad-spectrum antimicrobial activity, and safety profile when compared to other antimicrobial agents.
Moreover, there is a significant use of hydrogen peroxide as it is found to be effective against various forms of microorganisms such as bacterial spores and protozoan cysts, and infectious proteins including prions. As a result, there is an increasing preference for hydrogen peroxide as a disinfectant. Thus, it is positively impacting the market. Hence, such applications are expected to drive the market size during the forecast period.
A key factor shaping the market expansion is the increasing demand from the agrochemical segment. Some of the main reasons for the growth of the agrochemical industry are the increasing demand for food and rapid population growth. As a result, it will significantly fuel the demand for hydrogen peroxide.
Moreover, factors such as the adoption of integrated pest management (IPM) technology as a new method of crop protection, rising concerns over the declining availability of arable land, and growing food demand due to the expanding population worldwide are also fuelling the growth of the agrochemical sector. As a result, it is expected to fuel the demand for hydrogen peroxide in these industries as it has minimal impact on soil. Hence, such factors are expected to drive the growth of the market during the market research and growth period.
The impact of hydrogen peroxide on human health is one of the key challenges hindering the market growth. There are several health issues associated with hydrogen peroxide and a small amount of exposure can lead to harmful effects on the body. The use of hydrogen peroxide at home can lead to low exposure whereas its extensive use in industries can lead to high exposure.
Moreover, it can be harmful when inhaled, ingested, or by contact with the skin or eyes. Some of the main health issues which are caused by exposure of hydrogen peroxide include irritation of the eyes, respiratory passage, throat, and skin. Therefore, it is negatively impacting the market. hence, such factors limit the market growth and trend share during the market forecasting period.
The bleaching segment is estimated to witness significant growth during the market forecast period. The main application is as a bleaching agent which is extensively used across several industries including the pulp and paper industry, the pharmaceutical industry, and the textile industry. Additionally, in the medical field, it is widely used as a teeth whitener and mouthwash as well as for hair bleaching and oral hygiene.
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The bleaching segment was the largest segment and was valued at USD 703.2 million in 2018. There is increasing adoption of this segment across textile industries in order to brighten clothes and remove stains from both synthetic and natural fibers. Furthermore, the main advantage of hydrogen peroxide in the textile industry is that it helps to enhance the mechanical properties of fibers and is therefore also used in fabric manufacturing. There is a significant growth of textile industries across developing countries which is expected to fuel the growth of this segment. For instance, India dominates the market share in terms of textile manufacturing and produces a wide variety of products including cotton, polyester and synthetic fabrics, threads, yarns, and garments. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
APAC is estimated to contribute 40% to the growth of the global market during the market analysis and report period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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One of the main factors that is significantly contributing to the growth of the market is the presence of developing countries such as China, India, Malaysia, and Indonesia. The main end-user industry which is a significant consumer in APAC is the pulp and paper industry.
Further, factors such as the increasing population coupled with the growing educational system are expected to increase the demand for pulp and paper which in turn will fuel the demand for hydrogen peroxide in the region. Furthermore, it is extensively used across other industries such as textile, electronics, food and beverages, and healthcare industries. Hence, such factors are expected to drive the market growth in the region during the forecast period.
Companies are implementing various strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
Aditya Birla Management Corp. Pvt. Ltd: The company offers hydrogen peroxide through Thai Peroxide Ltd, which includes capacity stands at 22500MTPA for Hydrogen Peroxide.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Aditya Birla Management Corp. Pvt. Ltd., Akzo Nobel NV, Arkema Group, Avantor Inc., BASF SE, Chang Chun Group, Gujarat Alkalies and Chemicals Ltd., Hansol Holdings, Hodogaya Chemical Co. Ltd., Kemira Oyj, Kingboard Holdings Ltd., Merck KGaA, Mitsubishi Gas Chemical Co. Inc., National Peroxide Ltd., Nouryon Chemicals Holding BV, OCI Co. Ltd., PJSC Khimprom, RAG Stiftung, Solvay SA, and Taekwang Group
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
The market is shaped by various factors, including its versatile product function. With governments worldwide emphasizing cleanliness, the demand for hydrogen peroxide is soaring. Its role in Propylene Oxide Production through the HPPO Process has further fueled its market growth. However, concerns over mouth irritation and its effects on mucus highlight the importance of ensuring safe usage. Despite these challenges, hydrogen peroxide remains a vital component due to its antiseptic properties and ability to release oxygen. As industries continue to innovate and address concerns, hydrogen peroxide maintains its significance across multiple sectors, emphasizing both its opportunities and challenges in today's market landscape.
Additionally, hydrogen peroxide, known for its versatile applications across industries, is witnessing a surge in demand driven by various factors. Manufacturers are leveraging its oxidant properties in diverse sectors such as mining, cosmetics, and healthcare. However, supply chain disruptions and raw material challenges have posed obstacles to its production, particularly in processes like the HPPO method. Despite health hazards and side effects associated with its usage, hydrogen peroxide remains indispensable in the healthcare industry, valued for its antiseptic properties in treating skin cuts, bruises, infections, and oral ailments. With its oxygen-releasing capabilities, hydrogen peroxide continues to play a crucial role in promoting health and hygiene across multiple applications.
Further, in the ever-evolving landscape of hygiene and sanitation, the Hydrogen Peroxide market stands as a beacon of cleanliness and safety. With applications spanning from water treatment to paper and pulp industry, Hydrogen Peroxide plays a pivotal role in effluent color removal and tissue paper production. As global paper consumption rises, its usage extends to filter paper and lightweight coated paper, ensuring quality in various industries. Moreover, its significance in organic food processing and medical industries underscores its versatility. With environmental-friendly properties and potent oxidizing abilities, it addresses concerns of water-borne sickness and biological degradability, crucial for public health and safety. From sanitizers to disinfectant products, Hydrogen Peroxide serves as a key component, offering effective solutions in public spaces and medical applications. As industries embrace rapid manufacturing and process reforms, the Hydrogen Peroxide market continues to thrive, shaping a cleaner and healthier future for all.
Industry Scope |
|
Report Coverage |
Details |
Page number |
192 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.02% |
Market growth 2024-2028 |
USD 545.5 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.69 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 40% |
Key countries |
US, China, India, Germany, and South Korea |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aditya Birla Management Corp. Pvt. Ltd., Akzo Nobel NV, Arkema SA, Avantor Inc., BASF SE, Chang Chun Group, Gujarat Alkalies and Chemicals Ltd., Hansol Holdings, Hodogaya Chemical Co. Ltd., Kemira Oyj, Kingboard Holdings Ltd., Merck KGaA, Mitsubishi Gas Chemical Co. Inc., National Peroxide Ltd., Nouryon, OCI Co. Ltd., PJSC Khimprom, RAG Stiftung, Solvay SA, and Taekwang Group |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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