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.
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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