According to a new report by Expert Market Research titled, “Global Hydrogen Peroxide Market Price, Trends, Size, Share, Report and Forecast 2023-2028″, the global hydrogen peroxide market size is expected to grow at a CAGR of 4.6% between 2023 and 2028. Aided by the growing demand for environmentally friendly bleach and the broadening applications of hydrogen peroxide across various industries, the market is expected to grow significantly by 2028.
Hydrogen peroxide is an eco-friendly oxidiser that is commonly used as a bleach in multiple applications, including paper and pulp, textiles, and chemical synthesis. Its disinfecting properties are leveraged in healthcare and personal care products. It is applied to the skin as a light antiseptic to stop infection from scrapes, tiny cuts, and burns. Moreover, hydrogen peroxide plays an integral role in the production of propylene oxide and epoxides, expanding its reach into industrial manufacturing processes.
The escalating demand for sustainable bleaching agents is a key driver propelling the global hydrogen peroxide market growth. In addition, the push towards environmentally friendly industrial processes has led to a significant rise in the adoption of hydrogen peroxide, replacing traditionally harmful bleaching agents. This shift is particularly noticeable in the paper and pulp industry, which is continually seeking ways to lessen its environmental footprint.
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The extensive applications of hydrogen peroxide in various sectors is also significantly contributing to the hydrogen peroxide market expansion. In the healthcare sector, hydrogen peroxide is used for sterilisation and disinfection purposes. The cosmetics industry utilises hydrogen peroxide in hair colouring products and teeth-whitening solutions. Furthermore, the compound’s oxidising properties make it a valuable ingredient in wastewater treatment processes, aiding in the degradation of harmful contaminants.
Moreover, the increased attention to public health and sanitation, especially in the wake of the global health crisis, has led to an augmented demand for disinfectants, benefitting the hydrogen peroxide market. The use of hydrogen peroxide-based solutions for surface disinfection in public spaces and households have surged, reflecting the global emphasis on cleanliness and disease prevention.
Advancements in technology and the development of more efficient hydrogen peroxide production methods also bode well for market growth. Additionally, innovations in direct synthesis methods, offering cost-effective and high-yield production, provide a positive outlook for the hydrogen peroxide market.
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Market Segmentation
The market can be divided based on application, end use, and region.
Market Breakup by Application
• Chemical Synthesis
• Bleaching
• Disinfectant
• Cleaning and Etching
• Others
Market Breakup by End Use
• Pulp and Paper
• Food and Beverages
• Water Treatment
• Textiles and Laundry
• Oil and Gas
• Healthcare
• Electronics
• Others
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global hydrogen peroxide companies. Some of the major key players explored in the report by Expert Market Research are as follows:
• Solvay SA
• Evonik Industries AG
• Arkema
• Kemira Oyj
• Others
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