2016 - 2026
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The hydrogen peroxide market was valued at 5,187.32 kiloton in 2020, and the market is projected to register a CAGR of over 3% during the forecast period (2021-2026).
The market was negatively impacted by COVID-19 in 2020. Hydrogen peroxide is mainly consumed by the paper and pulp industry as a bleaching agent and the mining industry as an oxidant. Owing to the pandemic scenario, these end-user industries were on a temporary halt, which led the industry to minimize the use of bleaching agents and oxidants, thus, creating a negative impact on the demand for hydrogen peroxide.
- Over the short term, 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 the market growth.
- Health hazards associated with long-term exposure to hydrogen peroxide and unfavorable conditions arising due to the impact of COVID-19 are hindering the market's growth.
- Newer opportunities for hydrogen peroxide in wastewater treatment and the growth of the electronic industry in developing Asian countries are likely to create opportunities for the market in the coming years.
- The Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.
Scope of the Report
Hydrogen peroxide can be found in dilute as well as concentrated form. Dilute solutions have almost no odor, but stronger solutions have a sharp odor. The production process includes catalytic reduction by hydrogen of a substituted anthraquinone dissolved in a mixed aromatic hydrocarbon solvent to produce anthraquinol, which is further subjected to aerial oxidation, to yield anthraquinone and hydrogen peroxide. The hydrogen peroxide market is segmented by product function, end-user industry, and geography. By product function, the market is segmented into disinfectant, bleaching, oxidant, and other product functions. By end-user industry, the market is segmented into pulp and paper, chemical synthesis, wastewater treatment, mining, food and beverage, cosmetics and healthcare, textiles, and other end-user industries. The report also covers the market size and forecasts for the hydrogen peroxide market in 17 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kiloton).
|Other Product Functions|
|Pulp and Paper|
|Food and Beverage|
|Cosmetics and Healthcare|
|Other End-user Industries|
Key Market Trends
Increasing Demand from the Pulp and Paper Industry
- Hydrogen peroxide is extensively used in the paper and pulp industry as a bleaching agent to produce various types of pulps include mechanical, chemical, and recyclable pulps, and it is also used to optimal whiten the pulps for these industries.
- Hydrogen peroxide also finds its application in re-pulping of wastepaper over other bleaching agents, as it aids in reducing the bleaching costs and decreases the effluent color.
- In 2018, the global market volume for hydrogen peroxide in the pulp and paper industry was 2,200.93 kiloton, and it is estimated to reach about 2,824 kiloton by 2024, with a CAGR of about 4%, which will stimulate the demand for hydrogen peroxide in the coming years.
- The European pulp and paper industry had a production capacity of 43.65 million ton in 2019, with a growth rate of 1.49% compared to the previous year, which, in turn, stimulates the market demand for hydrogen peroxide.
- The Confederation of European Paper Industries (CEPI) countries produced 85.1 million ton of paper and board in 2020, with a decline rate of 5% compared to the previous year, which, in turn, negatively impacts the market demand for hydrogen peroxide.
- The United States, Asia-Pacific, and Europe are expected to witness strong demand for hydrogen peroxide in applications relating to the paper and pulp industry.
- The aforementioned factors are likely to increase the demand for hydrogen peroxide over the forecast period.
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China to Dominate the Market in the Asia-Pacific Region
- In Asia-Pacific, China is the largest economy in terms of GDP. China is one of the fastest-growing economies globally, and almost all the end-user industries have been growing, owing to the rising population, living standards, and per capita income.
- China is a hub for chemical processing, accounting for a major chunk of the chemicals produced globally. With the increasing demand for various chemicals globally, the demand for hydrogen peroxide from this sector is projected to rise during the forecast period.
- China is the largest pulp and paper producing nation in the world. The industry is modern and highly mechanized, and the labor is inexpensive. Due to government afforestation initiatives, forest cover is increasing in China. While this is a positive sign, there are concerns regarding social and environmental issues. As the largest wood importer in the world, with complex and opaque supply chains, significant challenges are also present.
- China has produced about 125 million ton of cardboard and paper in 2019, with a growth rate of about 4% compared to the previous year, which, in turn, stimulates the regional market demand for hydrogen peroxide.
- 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. With the increase in disposable income of the middle-class population, the demand for electronic products is projected to rise in the near future, thereby driving the hydrogen peroxide market.
- Due to all such factors, the market for hydrogen peroxide in the region is expected to have a steady growth during the forecast period.
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The hydrogen peroxide market is consolidated in nature, with the top five players occupying nearly 70% of the market. The majority of companies are focusing on expanding their production capacities, primarily in the Asia-Pacific region. Some of the major players in the market include Solvay, Evonik Industries AG, MITSUBISHI GAS CHEMICAL COMPANY INC., Arkema, and Kemira, among others.
- In September 2020, Solvay decided to cut hydrogen peroxide capacity by 70 kiloton, as of 1 January 2021, in Europe under the Future (P4F) program.
- In February 2020, United Initiators announced the acquisition of the Hydrogen Peroxide plant of Evonik Industries in British Columbia of Canada, which led to enhancement in the company’s product portfolio and development of value-enhancing downstream applications of hydrogen peroxide.
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
4.2.2 Unfavorable Conditions Arising Due to the Impact of COVID-19
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
188.8.131.52 South Korea
184.108.40.206 ASEAN Countries
220.127.116.11 Rest of Asia-Pacific
5.3.2 North America
18.104.22.168 United States
22.214.171.124 Rest of North America
126.96.36.199 United Kingdom
188.8.131.52 Nordic Countries
184.108.40.206 Rest of Europe
5.3.4 South America
220.127.116.11 Rest of South America
5.3.5 Middle-East and Africa
18.104.22.168 Saudi Arabia
22.214.171.124 South Africa
126.96.36.199 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share 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
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
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Frequently Asked Questions
What is the study period of this market?
The Hydrogen Peroxide Market market is studied from 2016 - 2026.
What is the growth rate of Hydrogen Peroxide Market?
The Hydrogen Peroxide Market is growing at a CAGR of >3% over the next 5 years.
Which region has highest growth rate in Hydrogen Peroxide Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Hydrogen Peroxide Market?
Asia Pacific holds highest share in 2020.
Who are the key players in Hydrogen Peroxide Market?
- Evonik Industries AG
- MITSUBISHI GAS CHEMICAL COMPANY, INC.
Are the major companies operating in Hydrogen Peroxide Market.