Hydrogen peroxide is widely used as an antimicrobial agent, bleach, and disinfectant due to its strong oxidizing properties. It has emerged as a promising alternative to chlorine-based disinfectants in various applications including food processing, agriculture, healthcare, and paper & pulp industries owing to its non-toxic nature.
Market key trends:
The increased usage of hydrogen peroxide as a disinfectant in various applications like surface disinfection, instrument disinfection, and room disinfection has been a major trend driving the growth of the market. The COVID-19 pandemic has further boosted the demand for natural and eco-friendly disinfectants like hydrogen peroxide for disinfecting hospitals, public spaces, and industries. Several healthcare companies are focusing on developing hydrogen peroxide-based disinfection products and solutions for applications like surface disinfection, which is expected to support the market growth over the forecast period.
Segment Analysis
The global hydrogen peroxide market is segmented based on type, grade, application and region. Based on type, the market is divided into solvent grade and technical grade. The technical grade segment dominates the market as it widely used as bleaching agents for paper and textile industries. It finds application for disinfection and bleaching applications in several industries like healthcare, food & beverages, and pulp & paper.
Key Takeaways
The Global Hydrogen Peroxide Market Demand is expected to witness high growth over the forecast period. The global hydrogen peroxide market is estimated to be valued at US$ 5460.19 Mn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030.
Regional analysis shows that the Asia Pacific region currently dominates the market and is expected to be the fastest growing region during the forecast period. Factors such as growing manufacturing industries, increasing healthcare and food & beverages sectors are expected to drive the demand for hydrogen peroxide in the region.
Key players operating in the hydrogen peroxide market are Arkema S.A., Evonik Industries AG, Solvay SA, Nouryon, Guangdong Zhongcheng Chemicals Inc. Ltd., Kemira OYJ, Mitsubishi Gas Chemical Company, Inc. among others. Hydrogen peroxide has application across various end use industries such as chemical synthesis and bleaching. Major players are focusing on expanding their production capacities to cater to the growing demand for hydrogen peroxide. For instance, in 2022, Solvay announced the expansion of its hydrogen peroxide production capacities in Asia. The company is expanding its hydrogen peroxide facilities in China and Thailand in order to meet the growing demand from industries such as textile bleaching, petroleum refining and wastewater treatment in Asia.
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