The Hydrogen Peroxide Market Size was valued at USD 4.2 billion in 2022. The Hydrogen Peroxide industry is projected to grow from USD 4.38 billion in 2023 to USD 6.13 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.30% during the forecast period (2024 - 2032). Increasing implementation of hydrogen peroxide in the pulp & paper industry and businesses opting for non-chlorine-based compounds for manufacturing processes are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
An increase in demand in various industries is driving the market CAGR for Hydrogen Peroxide. The pulp and paper industry is another major end-user of hydrogen peroxide. It is used as bleaching in producing high-quality paper products. The demand for high-quality paper products is increasing globally, driven by factors such as the growth of the e-commerce industry and the rising demand for sustainable packaging. It, in turn, is driving the demand for hydrogen peroxide in the pulp and paper industry.
Hydrogen peroxide is also used in the food industry as a disinfectant and preservative. It treats raw materials, equipment, and food products to ensure safety and quality. The rising demand for packaged and processed food items is driving the demand for hydrogen peroxide in the food industry. Hydrogen peroxide is also a bleaching agent in producing food-grade oils and fats.
Hydrogen peroxide is widely used in the healthcare industry for its disinfectant properties. It is used as a cleaning agent for medical equipment, surfaces, and wound care. With the outbreak of pandemic, the demand for hydrogen peroxide-based disinfectants has increased significantly. The healthcare industry is expected to remain a major end-user of hydrogen peroxide in the coming years, driving the market's growth.
For instance, the hydrogen peroxide market is witnessing a significant growth driven by the increasing demand from the healthcare, pulp, paper, and food industries. With the ongoing COVID-19 pandemic and the growing demand for sustainable packaging and food products, hydrogen peroxide demand will remain strong in the coming years, driving the Hydrogen Peroxide market revenue.
January 2024
Evonik has confirmed the complete acquisition of Thai Peroxide Company Limited (TPL), a former joint venture situated in Saraburi, Thailand. The acquisition, finalized on December 15, 2023, enables the worldwide manufacturer of peroxides to broaden its product portfolio in the rapidly expanding Asia Pacific market to include hydrogen peroxide and peracetic acid of specialty grade. The action facilitates the Active Oxygens division of Evonik's pursuit of its strategic emphasis on specialized knowledge and cutting-edge applications.
TPL is a significant regional provider of specialty hydrogen peroxide and peracetic acid, which are utilized in a variety of processes including water treatment, food safety, and microprocessor and solar cell fabrication.
TPL was previously a partnership between Aditya Birla Group and PeroxyChem prior to Evonik's acquisition of PeroxyChem in February 2020. Then, Evonik owned a 50% stake in TPL prior to completing the acquisition.
The Hydrogen Peroxide market segmentation, based on grade, includes standard, chemicals, aseptic, and semiconductors. The chemicals segment dominates the market. This grade is used in various industrial applications such as wastewater treatment, pulp and paper bleaching, and textile bleaching. It is also used in the electronics industry as a cleaning agent.
The Hydrogen Peroxide market segmentation, based on end-user, includes pulp & paper, chemicals, textiles, and food & beverage. The pulp & paper category dominates the market. It is used as a bleaching agent in the paper and pulp industry as it is an eco-friendly alternative to chlorine-based bleaching agents.
The Hydrogen Peroxide market segmentation, based on application, includes bleaching, oxidation, and environmental. The bleaching category generates the most income. It is used as a bleaching agent in various industries, such as paper and pulp, textile, and food processing. It is also used for hair bleaching in the cosmetic industry.
Figure 1: Hydrogen Peroxide Market, by Application, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Hydrogen Peroxide market area is expected to have significant growth in the market due to the increasing demand for hydrogen peroxide in various end-use industries such as paper and pulp, textiles, and healthcare. The growing demand for eco-friendly and sustainable products drives the demand for hydrogen peroxide in the US. The US is also a great exporter of hydrogen peroxide to other regions.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: HYDROGEN PEROXIDE MARKET SHARE BY REGION 2022 (%) 
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Hydrogen Peroxide market accounts for the second-largest market share due to the increasing demand for hydrogen peroxide in various end-use industries such as pulp and paper, textiles, and water treatment. Further, the German Hydrogen Peroxide market held the largest market share, and the UK Hydrogen Peroxide market was the fastest-growing market in the European region. The European Union has implemented stringent regulations to reduce hazardous chemicals, expected to drive the demand for hydrogen peroxide in the region.
The Asia-Pacific Hydrogen Peroxide Market will dominate the market from 2023 to 2032. The rising demand for hydrogen peroxide in various end-use industries, such as pulp and paper, textiles, and electronics, drives the market. The increasing use of hydrogen peroxide in the electronics industry is also expected to drive the demand for hydrogen peroxide in the region. Moreover, China’s Hydrogen Peroxide market held the largest market share, and the Indian Hydrogen Peroxide market was the fastest-growing market in the Asia-Pacific region.
For instance, the hydrogen peroxide market is expected to grow steadily during the forecast period. The increasing demand for hydrogen peroxide in various end-use industries such as pulp and paper, textiles, and healthcare drives the market.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Hydrogen Peroxide market grow even more. Market participants are also undertaking numerous strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The industrial Hydrogen Peroxide must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Hydrogen Peroxide industry to benefit clients and increase the market sector. In recent years, the Hydrogen Peroxide industry has offered some of the most significant advantages to medicine. Major players in the Hydrogen Peroxide market, including Solvay (Belgium), Evonik Industries AG (Germany), Kemira (Finland), Arkema SA (France), Mitsubishi Gas Chemical Company Inc (Japan), Nouryon (the Netherlands), Chang Chun Group (Taiwan), National Peroxide Ltd (India), FMC Corporation (US), OCI Company Ltd (South Korea), Indian Peroxide Limited (India), Thai Peroxide Co. Limited (Thailand), Merck KGaA (Germany), Huatai Group (China), Hansol Chemical (South Korea), and others, are attempting to increase market demand by investing in research and development operations.
Arkema S.A., located in Colombes, near Paris, France, was founded in 2004 as a multi-national manufacturer of specialty materials. It specializes in several segments, such as adhesives, advanced materials, coatings, and chemical intermediaries. In September 2022, Arkema propounded a rise in price of hydrogen peroxide in Europe. This step was taken to manage the rising energy prices in Europe.
Solvay S.A. is a multi-national chemical company established in 1863 in Neder-Over-Heembeek, Brussels, Belgium. It was founded to produce sodium carbonate by the Solvay process; the company has diversified into two main sectors of activity: chemicals and plastics. In July 2022, Solvay announced building high-grade production facilities for electronic-grade hydrogen peroxide in Arizona, United States. The production is likely to begin in 2023.
"TPL's expertise precisely aligns with Evonik's mission to provide customized solutions to address present and future challenges," said Evonik Smart Materials division chief Lauren Kjeldsen. "Among these are the provision of environmentally friendly and sustainable chemistries for applications that are in high demand." The electronic industry serves as a significant illustration: "Hyperoxide is an indispensable component in the production of microchips, which are indispensable to the world."
"TPL is led by a formidable, seasoned management team that utilizes cutting-edge technologies and application expertise," Claus Rettig, Evonik's Asia Pacific regional president, further stated. We eagerly anticipate the contribution of this team's invaluable expertise to the expansion of Evonik's specialty business in the Asia-Pacific region.
Peracetic acid and hydrogen peroxide are both potent oxidizers that find utility in a wide range of industrial contexts. However, they decompose into biodegradable components following use, making them more environmentally friendly than alternative chemistries. Furthermore, Active Oxygens is executing a tangible sustainability strategy with the aim of eradicating the environmental impact of its production network.
Solvay (Belgium)
Evonik Industries AG (Germany)
Kemira (Finland)
Arkema SA (France)
Mitsubishi Gas Chemical Company Inc (Japan)
Nouryon (the Netherlands)
Chang Chun Group (Taiwan)
National Peroxide Ltd (India)
FMC Corporation (US)
OCI Company Ltd (South Korea)
Indian Peroxide Limited (India)
Thai Peroxide Co. Limited (Thailand)
Merck KGaA (Germany)
Huatai Group (China)
Hansol Chemical (South Korea)
In April 2020: Gujarat Alkalies and Chemicals announced the commencement of partial operations of poly aluminum chloride and hydrogen peroxide plants at Dahej.
In June 2020: Nouryon announced the development of the world-class state-of-art manufacturing facility at the current operating site of Ningbo, China, to produce two key intermediates for its organic peroxide business.
In February 2020: Evonik successfully acquired the US company PeroxyChem million after the responsible court in Washington DC dismissed the lawsuit filed by the Federal Trade Commission (FTC) to block the acquisition.
Hydrogen Peroxide Grade Outlook
Standard
Chemicals
Aseptic
Semiconductor
Hydrogen Peroxide Application Outlook
Bleaching
Oxidation
Environmental
Hydrogen Peroxide End-User Outlook
Pulp & Paper
Chemicals
Textile
Food & Beverage
Hydrogen Peroxide Regional Outlook
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 34.5 billion |
| Market Size 2023 | USD 38.6055 billion |
| Market Size 2032 | USD 94.905 billion |
| Compound Annual Growth Rate (CAGR) | 11.90% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Grade, Application, End-User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Solvay (Belgium), Evonik Industries AG (Germany), Kemira (Finland), Arkema SA (France), Mitsubishi Gas Chemical Company Inc (Japan), Nouryon (the Netherlands), Chang Chun Group (Taiwan), National Peroxide Ltd (India), FMC Corporation (US), OCI Company Ltd (South Korea), Indian Peroxide Limited (India), Thai Peroxide Co. Limited (Thailand), Merck KGaA (Germany), Huatai Group (China), Hansol Chemical (South Korea) |
| Key Market Opportunities | Investing in research & development Create a new generation of hydrogen peroxide that is safer and user-friendly. |
| Key Market Dynamics | Increasing demand for hydrogen peroxide in various industries such as healthcare and food. |
Hydrogen Peroxide Market Highlights:
Frequently Asked Questions (FAQ) :
The Hydrogen Peroxide market size was valued at USD 4.2 Billion in 2022
The market is projected to grow at a CAGR of 4.30% during the forecast period, 2024-2032
Asia-Pacific had the largest share of the market
The key players in the market are Solvay (Belgium), Evonik Industries AG (Germany), Kemira (Finland), Arkema SA (France), Mitsubishi Gas Chemical Company Inc (Japan), Nouryon (the Netherlands), Chang Chun Group (Taiwan), National Peroxide Ltd (India), FMC Corporation (US), OCI Company Ltd (South Korea), Indian Peroxide Limited (India), Thai Peroxide Co. Limited (Thailand), Merck KGaA (Germany), Huatai Group (China), Hansol Chemical (South Korea)
The Hydrogen Peroxide category dominated the market in 2022
The bleaching segment had the largest share of the market
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
