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Industrial Hydrogen Peroxide Market: By Function, By End-Use Industry and Geography
Industrial Hydrogen Peroxide Market: By Function, By End-Use Industry and Geography
Industrial Hydrogen Peroxide Market size was valued at US$ 2,463.8 million in 2023 and is poised to grow at a significant CAGR of 5.3% from 2024-2030. Hydrogen peroxide is frequently utilized in the synthesis of propylene oxide (HPPO), peracetic acid, flame retardants, herbicides, organic peroxide initiators, and other applications. It is an essential component of the chemical industry, which has experienced considerable growth in recent years due to increased private sector participation and regional expansion by key contributors. The value of the hydrogen peroxide market is steadily increasing due to the rise of its many end-user industries. In addition, Because of the increasing demand from the chemical and wastewater treatment industries, product consumption has increased significantly in recent years.
Moreover, the material has many uses in the wastewater treatment industry since it is an excellent oxidizing agent that is also trustworthy, environmentally acceptable, and adaptable. The catalyzed version of the product has the potential to eliminate oxidizing contaminants rapidly and is thus extremely effective in the industry. Green practices are being prioritized by governments worldwide to reduce the negative effects of chemicals on human health and the environment. Environmental laws and regulations play an important role in driving market growth due to hydrogen peroxide's emission-free and eco-friendly qualities. As a result, consumers increasingly prefer to employ this chemical for various water treatment and pollution control applications.
Furthermore, hydrogen peroxide is used in various end-use industries, including chemicals, electronics, paper and pulp, mining, etc. It has also seen an increase in bleach products, which are used to remove chlorine compounds through bleaching operations. The market for industrial hydrogen peroxide is expected to expand due to a growing trend away from chlorine and toward Elemental Chlorine Free (ECF) Chemicals. Additionally, emerging applications in the Semiconductor, Mining & Metal Extraction, and Agriculture industries will provide growth opportunities.
Study Period
2024-2030Base Year
2023CAGR
5.3%Largest Market
EuropeFastest Growing Market
Asia-Pacific
In the electronics industry, hydrogen peroxide is utilized as an oxidizing agent. It's utilized as a colorant in printed circuit board fabrication and as an oxidizing and cleaning agent in semiconductor production. Rising demand for the product from the healthcare industry, owing to its antiseptic capabilities, typically used to prevent infections in skin cuts and minor injuries, is expected to be a major driver of market expansion. It is also commonly used as a mouthwash to help with mouth irritation, mucous, and other oral illnesses. The material primarily releases oxygen, which causes foaming on bruised and cut skin, resulting in effective clearance of dead skin and protection of the site from infection. However, the restraints in the worldwide industrial hydrogen peroxide market, including eye contact with industrial hydrogen peroxide concentrations of 5% or more, can cause permanent vision loss. At the same time, skin exposure can produce painful blisters, burns, and skin bleaching.
The industrial hydrogen peroxide market in North America is likely to hold a significant revenue share of 22.7% in 2021. In the following years, it is predicted to increase rapidly. North America is assumed to dominate the wastewater treatment sector due to the country's lengthy history of water-borne sickness. Daily, the United States purifies more than 34 billion gallons of hazardous water for safe consumption by local populations. One of the primary requirements in the country is the removal of phosphorus and nitrogen from water sources, as well as the oxidation of wastewater, which has resulted in significant use of hydrogen peroxide across the industry.
The growing demand for various personal care products in the European market has also resulted in an increase in hydrogen peroxide usage in the region. The product's oxidizing capacities and antibacterial qualities are driving demand for this application. In countries such as the United Kingdom, France, Italy, Germany, and Spain, cosmetics, and personal care items such as hair care formulations and skincare creams and lotions have acquired substantial popularity. This is primarily owing to cosmetic manufacturers' increased entry into these countries to tap into the potential market.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 2,463.8 million |
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Market CAGR |
5.3% |
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By Function Type |
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By End User |
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By Region |
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The global industrial hydrogen peroxide market size was valued at US$ 2,463.8 million in 2023 and is projected to grow at a significant CAGR of 5.3%.
The key segments covered in the industrial hydrogen peroxide market are technology, components, application, and end-users.
The Industrial hydrogen peroxide market key players are Evonik Industries AG, Taekwang Industrial, CO. LTD., Arkema, Grupa Azoty, Solvay, Akzo Nobel N.V., Gujarat Alkalies & Chemicals Ltd., National Peroxide Limited, OCI Company Ltd., Airedale Chemical
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.