Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The market factors influencing the hydrogen peroxide market are multifaceted and dynamic, encompassing a range of economic, environmental, and industrial considerations. Firstly, the demand for hydrogen peroxide is significantly driven by its diverse applications across various industries, including pulp and paper, textiles, chemicals, and electronics. In the pulp and paper industry, hydrogen peroxide serves as a bleaching agent, enhancing the brightness and quality of paper products. Similarly, in the textiles sector, it is utilized for bleaching, dyeing, and finishing processes. Moreover, hydrogen peroxide finds extensive use in wastewater treatment, where its oxidative properties enable the removal of organic pollutants, contributing to environmental sustainability.
Hydrogen peroxide is a clear chemical that dissolves easily in water. It doesn’t harm the environment and is great at oxidizing various organic and inorganic substances like skin and some metals. China currently makes more than 30% of the world’s total hydrogen peroxide supply.
Another pivotal factor shaping the hydrogen peroxide market is technological advancements and innovations in production processes. The development of more efficient and environmentally sustainable manufacturing methods, such as the anthraquinone process and the hydrogenation process, has enhanced production capacities and reduced production costs, thereby stimulating market growth. Furthermore, investments in research and development to explore novel applications and improve the efficacy of hydrogen peroxide further contribute to market expansion.
Market dynamics are also influenced by regulatory frameworks and environmental policies aimed at promoting sustainable practices and reducing the environmental footprint of industrial processes. Stringent regulations regarding the use of hazardous chemicals and emissions control drive the adoption of hydrogen peroxide as a safer and more environmentally friendly alternative to conventional chemicals. Additionally, government initiatives and incentives to promote clean energy technologies and mitigate climate change can create opportunities for hydrogen peroxide producers, particularly in the context of hydrogen peroxide's potential as a green oxidant and energy carrier.
Global economic trends and geopolitical factors play a significant role in shaping market dynamics and demand patterns for hydrogen peroxide. Economic growth, industrialization, and urbanization drive the demand for various end-use products and applications of hydrogen peroxide. Moreover, geopolitical tensions, trade policies, and currency fluctuations can impact the cost of raw materials, production, and distribution channels, thereby influencing market competitiveness and pricing strategies.
The competitive landscape of the hydrogen peroxide market is characterized by the presence of several key players operating on both regional and global scales. Market dynamics are influenced by factors such as mergers and acquisitions, strategic partnerships, and competitive pricing strategies adopted by market players to gain a competitive edge. Additionally, factors such as supply chain disruptions, natural disasters, and unforeseen events can have ripple effects on market dynamics, leading to fluctuations in supply and demand dynamics.
Consumer preferences and awareness regarding sustainability and environmental responsibility also play a crucial role in shaping market trends and demand patterns for hydrogen peroxide. Increasing consumer demand for eco-friendly products and sustainable manufacturing processes drives the adoption of hydrogen peroxide across various industries. Moreover, initiatives to promote circular economy principles and resource efficiency further bolster market growth by emphasizing the importance of recycling and reusing hydrogen peroxide and its by-products.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | 11.90% (2023-2032) |
Hydrogen Peroxide Market Highlights:
Global Hydrogen Peroxide Market Overview
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
Hydrogen Peroxide Market Trends
-
Increasing demand in the pulp and paper industry is driving market growth
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.
Hydrogen Peroxide Market Segment Insights
Hydrogen Peroxide Grade Insights
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.
Hydrogen Peroxide End-User Insights
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.
Hydrogen Peroxide Application Insights
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
Hydrogen Peroxide Regional Insights
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.
Hydrogen Peroxide Key Market Players & Competitive Insights
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.
Key Companies in the Hydrogen Peroxide market include
-
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)
Hydrogen Peroxide Industry Developments
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 Market Segmentation
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
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
