According to the report, global hydrogen peroxide market was valued at USD 3.81 billion in 2015, is expected to reach USD 5.19 billion in 2021 and is anticipated to grow at a CAGR of 5.3% between 2016 and 2021.
Hydrogen peroxide (H2O2) is the simplest peroxide. Hydrogen peroxide is a clear liquid, slightly more viscous than water. It is used in several applications ranging from household disinfection to industrial chemical synthesis. Hydrogen peroxide is mainly manufactured by using anthraquinone process due to easy availability of raw material. High concentration of hydrogen peroxide is harmful, thus, it is usually diluted with water and then used in various industrial applications such as paper & pulp, chemical synthesis, textile and laundry, wastewater treatment, oil & gas and healthcare. Hydrogen peroxide is environment-friendly chemical and hence used in various end-user industries.
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Hydrogen peroxide is one of the vital components in the preparation of peroxide-based disinfectants. Disinfectants are mostly used in industries such as paints, beauty care products and glues to kill microorganisms and improve the timeframe of usability of the item. Hydrogen peroxide is a gentle antiseptic used on the skin to prevent infection of minor cuts, scrapes, and burns. It may also be used as a mouth rinse to relieve from minor mouth irritation.
The global hydrogen peroxide market is mainly driven by increasing demand from paper & pulp and chemical end-user industries. Furthermore, the growth of the market is driven by new and niche application in electronic and semiconductor industries, mining and metal, agriculture, paint and polymer, stainless still and pharmaceutical and healthcare industries. Growing demand of hydrogen peroxide in semiconductor field is expected to further boost the market growth in near future. However, possible health hazards of hydrogen peroxide are anticipated to impede market growth. Stringent government regulations regarding the hydrogen peroxide production and usage may hold back the market growth. Disposal of disinfectant is another major challenge for market growth.
The global hydrogen peroxide market is segmented based on end-user and region. On the basis of the end-user market is segmented into paper and pulp, chemical, wastewater treatment, mining, and other. Paper and pulp industry is the leading segment and acquired the significant share in overall hydrogen peroxide market in 2015. H2O2 is used as versatile bleaching agent in mechanical pulp bleaching and chemical pulp bleaching.
Asia-Pacific was the largest regional market for the global hydrogen peroxide market in 2015. This growth is mainly attributed to rising demand from paper & pulp industry. The hydrogen peroxide market in North America and Europe is expected to show moderate growth owing to steady recovery from the economic slowdown. Brazil holds a unique place in the worldwide hydrogen peroxide market, as it is a major short-fiber pulp producer. Short-fiber pulp industry requires hydrogen peroxide in the large quantities.
Key players operating in the hydrogen peroxide market include Arkema S.A., Evonik Industries AG, Solvay S.A., Akzo Nobel N.V., Kemira Oyj, Mitsubishi Gas Chemical Company, Inc., PeroxyChem LLC, Aditya Birla Chemicals Limited, Gujarat Alkalies and Chemicals Ltd (GACL), and Kingboard Chemical Holdings Ltd.