Hydrogen Peroxide Market Size to Reach USD 6632.6 Million by 2027 at a CAGR of 4.3% | Valuates Reports
BANGALORE, India, Sept. 23, 2021 /PRNewswire/ -- The Hydrogen Peroxide Market is Segmented by Type (Purity 27.5%, Purity 35%, Purity 50%), by Application (Paper Industry, Textile Industry, Electronics Industry, Chemical Industry). It is published in Valuates Reports under the Chemicals Industry.
In 2020, the global Hydrogen Peroxide market size is USD 4909 Million and it is expected to reach USD 6632.6 Million by the end of 2027, with a CAGR of 4.3% during 2021-2027.
Major factors driving the growth of the Hydrogen Peroxide (H2O2) market are
Rising demand for the product from the healthcare industry due to its antiseptic properties is expected to drive the Hydrogen Peroxide market growth.
Increasing application in various end-user industries such as Paper, Textile, Electronics, and chemicals is expected to drive the growth of the hydrogen peroxide market. In the paper industry, for example, it is used as a versatile bleaching agent, particularly in chemical pulp bleaching sequences. It is used as the core-bleaching agent in mechanical pulp bleaching. In paper recycling plants, it is used as a de-inking agent.
Furthermore, in light of the recent COVID-19 pandemic, the hydrogen peroxide market has increased significantly due to its widespread use in the formulation of disinfectant products.
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TRENDS INFLUENCING THE GROWTH OF HYDROGEN PEROXIDE MARKET
The increasing use of hydrogen peroxide in the textile industry is expected to drive the growth of hydrogen peroxide market growth. Hydrogen peroxide is the primary bleaching agent used in the treatment of natural and synthetic fibers such as wool, linen, cotton, silk, and rayon. It imparts a high degree of brightness to the fibers while preserving their mechanical properties.
In the chemical industry, hydrogen peroxide has found its use as an oxidizing agent. Due to its low molecular weight, hydrogen peroxide is a more efficient oxidizing agent than potassium permanganate or dichromate. It can be dissolved in a variety of organic solvents, including water and the substrate itself. On the other hand, in the electronics industry, it finds its use as an oxidizer and a cleaning agent. As an etchant in the production of printed circuit boards, hydrogen peroxide is used. As an oxidizing and cleaning agent, high-quality electronic grade hydrogen peroxide is used in the semiconductor manufacturing process.
Furthermore, since hydrogen peroxide is an excellent oxidizing agent, it is widely used in deodorizing and stain removal. The product is a great low-cost laundry bleach that can be used on any washable or dye-stable fabric. The product, like all oxygen-based bleaches, dissolves easily in water and is less harmful to the environment than chlorine bleaching agents. Furthermore, hydrogen peroxide is an effective stain remover for plant and protein-based stains on clothing. The value of the hydrogen peroxide market is constantly increasing due to the corresponding growth in its various end-user industries.
In light of the recent COVID-19 pandemic, the global hydrogen peroxide market has increased significantly due to its widespread use in the formulation of disinfectant products. Multiple government guidelines state that disinfecting public and private spaces is critical to mitigating the impact of COVID spread. Within closed boundaries, public areas such as commercial buildings, public stoppages, airports, and railway platforms must be sterilized for more than 60 minutes. Several governments have issued similar household cleaning protocols, and as a result, demand for sanitizers and disinfectant products has increased significantly.
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HYDROGEN PEROXIDE MARKET SHARE ANALYSIS
- In terms of product, 27.5 % Hydrogen Peroxide is the largest segment, with a share of over 60%.
- In terms of application, the largest application is Textile Industry, followed by Paper Industry, Chemical Industry, Electronics Industry, etc.
- Asia-Pacific is the largest market, with a share of over 55%, followed by North America and Europe, both having a share of over 35 percent.
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HYDROGEN PEROXIDE MARKET SEGMENTATION
By Type
- Purity 27.5%
- Purity 35%
- Purity 50%
- Others.
By Application
- Paper Industry
- Textile Industry
- Electronics Industry
- Chemical Industry
- Others.
Key Companies
- Solvay
- Evonik
- Arkema
- Peroxy Chem
- Akzo Nobel
- Kemira
- MGC
- OCI Chem
- NPL
- Zhongneng Chemical
- Luxi Chemical
- Liuzhou Chemical Group
- Jinhe shiye
- Jincheng Anthracite Jinshi Chemical
- HEC
- Shandong Yangmeihengtong Chemical
- Kingboard Chemical
- Guangdong Zhongcheng Chemical
- Jinke Chemical.
By Region
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Southeast Asia
- Australia
- Rest of Asia-Pacific
- Europe
- Germany
- France
- U.K.
- Italy
- Russia
- Nordic Countries
- Rest of Europe
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- Turkey
- Saudi Arabia
- UAE
- Rest of MEA
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SIMILAR REPORTS
- Global Industrial Hydrogen Peroxide Sales Market Report 2021
- In 2020, the global Electronic Grade Hydrogen Peroxide market size was US$ 355 million and it is expected to reach US$ 701.8 million by the end of 2027, with a CAGR of 10.2% during 2021-2027.
- In 2020, the global Steam and Hydrogen Peroxide Biological Indicator market size was USD 255 Million and it is expected to reach USD 359.9 Million by the end of 2027, with a CAGR of 5.3% during 2021-2027.
- In 2020, the global Hydrogen Peroxide Chemical Indicator market size was USD 32 Million and it is expected to reach USD 43 Million by the end of 2027, with a CAGR of 4.7% during 2021-2027.
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