The 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.
The Hydrogen Peroxide market caters to various end-use industries such as Pulp & Paper, Textile, Chemical synthesis,Food, Healthcare & Personal Care, Electronics and water treatment. It is a strong oxidizing agent and is used as an environment-friendly alternative to chlorine bleaches in pulp delignification and paper making. Hydrogen peroxide also finds its application in food processing, treatment & disinfection of industrial & potable water.
Market Overview:
Hydrogen peroxide is an odorless, viscous liquid that primarily functions as a bleaching and disinfecting agent. It is a very potent oxidizing agent and is commonly used as an antiseptic and a bleaching agent. It is also used for cleaning wounds as it kills bacteria. Hydrogen peroxide is used extensively across industries such as healthcare, paper & pulp, textile, food processing, electronics, and water treatment due to various advantages such as powerful antimicrobial properties, biodegradability and high efficiency in bleaching application.
Market key trends:
The global hydrogen peroxide market is expected to witness robust growth, owing to its increasing demand from the growing end-use industries. One of the key trends contributing to the market growth is the rising demand from the paper & pulp industry. Hydrogen peroxide serves as an effective eco-friendly replacement for chlorine in paper bleaching and helps paper manufacturers meet increasingly stringent environmental regulations against chlorine use. It has high bleaching power, breaks down to water and oxygen and therefore is considered environmentally sustainable. With growing environmental awareness, paper producers are shifting towards hydrogen peroxide for pulp delignification and paper bleaching. This rising preference for green bleaching agents is expected to drive the demand for hydrogen peroxide over the forecast period.
Porter’s Analysis
Threat of new entrants: The hydrogen peroxide market requires large initial investments for production facilities which acts as a major entry barrier.
Bargaining power of buyers: The buying power is high due to the presence of numerous domestic and global producers offering the product at competitive prices.
Bargaining power of suppliers: Large producers import hydrogen peroxide which gives suppliers a moderate level of bargaining power.
Threat of new substitutes: There is no close substitute for hydrogen peroxide currently but alternatives like ozone are being researched.
Competitive rivalry: Being an essential chemical, competition is intense among key global players.
SWOT Analysis
Strength: Hydrogen peroxide has wide applications as an oxidizing, bleaching and disinfecting agent. It is environment friendly and biodegradable.
Weakness: Hydrogen peroxide is unstable, hazardous and requires careful handling and transportation. Storage facilities need to follow strict safety guidelines.
Opportunity: Growth of end use industries like wastewater treatment, oil & gas, mining, healthcare, food processing will drive demand. Expanding markets in Asia Pacific offer new opportunities.
Threats: Stringent environmental regulations regarding discharge of effluents from hydrogen peroxide plants. Volatility in raw material prices adversely impacts the costs.
Key Takeaways
The Global Hydrogen Peroxide Market Sizeis expected to witness high growth, exhibiting CAGR of 3.4% over the forecast period, due to increasing demand from the pulp & paper industry. Rapid industrialization and growth of waste water treatment industry are key demand drivers.
Regional analysis - Asia Pacific dominates the global market and is projected to maintain its lead position during the forecast period. This is attributed to growth of end use industries and manufacturing activity in developing economies such as China and India. Countries like Japan and South Korea are also major producers and consumers of hydrogen peroxide.
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.
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