Hydrogen Peroxide Market Size
|Base Year For Estimation||2022|
|CAGR||> 3.00 %|
|Fastest Growing Market||Asia Pacific|
|Largest Market||Asia Pacific|
*Disclaimer: Major Players sorted in no particular order
Need a report that reflects how COVID-19 has impacted this market and its growth?
Hydrogen Peroxide Market Analysis
The hydrogen peroxide market is projected to register a CAGR of over 3% during the forecast period.
Due to the impact of COVID-19, the hydrogen peroxide market was negatively impacted because of nationwide lockdowns, social distancing mandates, etc., which caused supply chain disruptions. But in the post-pandemic period, with the government's support, the market recovered significantly and is expected to reach pre-pandemic levels in the forecast period.
- Rising demand from the paper and pulp industry and increasing consumption of hydrogen peroxide as raw material for propylene oxide production (HPPO Process) are expected to drive market growth.
- Health hazards and side effects associated with exposure to hydrogen peroxide are likely to hinder the market's growth.
- The growth of the electronic industry in developing Asian countries and the usage of hydrogen peroxide in water treatment will likely increase the demand for the market studied.
- The Asia-Pacific region is expected to dominate the market and will also witness the highest CAGR during the forecast period.
Hydrogen Peroxide Market Trends
This section covers the major market trends shaping the Hydrogen Peroxide Market according to our research experts:
Increasing Demand from the Paper and Pulp Industry
- Hydrogen peroxide is extensively used in the paper and pulp industry as a bleaching agent to produce various types of pulps, including mechanical, chemical, and recyclable. It is also used to optimize whitening the pulps for these industries.
- Hydrogen peroxide also finds its application in the re-pulping of wastepaper over other bleaching agents, as it aids in reducing the bleaching costs and decreases the effluent color.
- The major pulp and paper goods markets, namely the United States and China, are witnessing an increase in online sales. This is partly because internet shopping has necessitated package innovation to improve product placement on shelves. This increase is due to improved demand for raw materials and corrugated boxes.
- As per data published by the FAO (United Nations), paper and paperboard production capacity has been consistent in the United States and is expected to rise consistently in the forecast period. According to the FAO, in 2021, the production capacity of paper and paperboard was around 74,728,000 tons and production was around 68,177,000 tons.
- India's proportion of global paper consumption is increasing as local demand continues to rise at a constant rate. The demand for upstream paper products (such as tissue paper, filter paper, tea bags, lightweight online coated paper, and medical-grade coated paper), along with the demand for better quality packaging of FMCG products marketed through organized retail, is expected to drive the paper & paper products market in India in the coming years.
To understand key trends, Download Sample Report
Asia Pacific region to Dominate the Market
- In Asia-Pacific, India and China are the major economies booming in the current scenario, and this trend is likely to sustain in the forecast period.
- As per data published by the National Bureau of Statistics of China, the production output of processed paper and cardboard in China was evaluated at 11.6 million metric tonnes in September 2022.
- Furthermore, according to FAO, paper and paperboard production in China was around 121,100,000 tons, which increased from 112,600,000 tons in 2020.
- The electronics industry in China is the largest in the world. Electronic products, such as smartphones, OLED TVs, tablets, etc., have the highest growth in the market in the consumer electronics segment. According to data from the Ministry of Business and Information Technology (MIIT), China's electronic information manufacturing industry grew steadily in the first eight months of 2021.
- The petrochemical industry in India will undergo a sizeable expansion from 2021 to 2025 with 281 new projects lined up for construction and commencement. India’s state-controlled Petronet LNG will add 9 million tons per year of LNG capacity in India in the coming years. Other important upcoming projects include Nayara Energy’s USD 20 billion complex at Vadinar in Gujarat, HPCL Barmer refinery, Haldia Petrochemical’s integrated complex at Balasore, Orissa, and BPCL Kochi project among others.
- The food and beverage industry of South Korea is one of the largest in the region, supported by the surge in organic food processing. It is estimated to increase by 2024 and reach USD 13,646 million, at an 8.1% growth rate during the forecast period. This growth is expected to be attributed to the increase in the demand for low-friction coatings in the organic food processing industries in the country.
To understand geography trends, Download Sample Report
Hydrogen Peroxide Industry Overview
The hydrogen peroxide market is consolidated in nature. Some of the major players (not in any particular order) in the market include Solvay, Evonik Industries AG, MITSUBISHI GAS CHEMICAL COMPANY INC., Arkema, and Kemira, among others.
Hydrogen Peroxide Market Leaders
Evonik Industries AG
MITSUBISHI GAS CHEMICAL COMPANY, INC.
*Disclaimer: Major Players sorted in no particular order
Hydrogen Peroxide Market News
- In September 2022, Arkema announced a price increase of hydrogen peroxide in Europe. This step was taken to manage the increasing energy prices in Europe.
- In July 2022, Solvay announced the building of high-grade production facilities for electronic-grade hydrogen peroxide in Arizona, United States. The production is likely to begin in 2023.
Hydrogen Peroxide Market Report - Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Rising Demand from the Paper and Pulp Industry
4.1.2 Increasing Consumption of Hydrogen Peroxide as Raw Material for Propylene Oxide Production (HPPO Process)
4.2.1 Health Hazards Associated with Long-term Exposure of Hydrogen Peroxide
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Technological Snapshot
4.5.1 Production Process
4.5.2 Technology Licensing and Patent Analysis
4.6 Trade Analysis
4.7 Price Analysis
4.8 Supply Scenario
4.9 Regulatory Policies
5. MARKET SEGMENTATION (Market Size in Volume)
5.1 Product Function
5.1.4 Other Product Functions
5.2 End-user Industry
5.2.1 Pulp and Paper
5.2.2 Chemical Synthesis
5.2.3 Wastewater Treatment
5.2.5 Food and Beverage
5.2.6 Cosmetics and Healthcare
5.2.8 Other End-user Industries
22.214.171.124 South Korea
126.96.36.199 ASEAN Countries
188.8.131.52 Rest of Asia-Pacific
5.3.2 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Nordic Countries
22.214.171.124 Rest of Europe
5.3.4 South America
126.96.36.199 Rest of South America
5.3.5 Middle-East and Africa
188.8.131.52 Saudi Arabia
184.108.40.206 South Africa
220.127.116.11 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 BASF SE
6.4.3 Chang Chun Group
6.4.5 Evonik Industries AG
6.4.7 Guangdong ZhongCheng Chemicals Co. Ltd
6.4.8 Gujarat Alkali and Chemicals Ltd
6.4.9 Hodogaya Chemical Co. Ltd
6.4.11 Kingboard Holdings Limited
6.4.12 Merck KGaA
6.4.13 MITSUBISHI GAS CHEMICAL COMPANY INC.
6.4.14 National Peroxide Ltd
6.4.18 Qingdao LaSheng Co. Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Newer Opportunities for Hydrogen Peroxide in Wastewater Treatment
7.2 Growth of the Electronic Industry in Developing Asian Countries
Hydrogen Peroxide Market Research FAQs
What is the current Hydrogen Peroxide Market size?
The Hydrogen Peroxide Market is projected to register a CAGR of greater than 3% during the forecast period (2023-2027).
Who are the key players in Hydrogen Peroxide Market?
Solvay, Evonik Industries AG, MITSUBISHI GAS CHEMICAL COMPANY, INC., Arkema and Kemira are the major companies operating in the Hydrogen Peroxide Market.
Which is the fastest growing region in Hydrogen Peroxide Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2027).
Which region has the biggest share in Hydrogen Peroxide Market?
In 2023, the Asia Pacific accounts for the largest market share in the Hydrogen Peroxide Market.
Hydrogen Peroxide Industry Report
Statistics for the 2023 Hydrogen Peroxide market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Hydrogen Peroxide analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.