Hydrogen Peroxide Market: Introduction
Transparency Market Research delivers key insights on the global hydrogen peroxide market. In terms of revenue, the global hydrogen peroxide market is estimated to expand at a CAGR of 5.8% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecast in its report on the global hydrogen peroxide market.
The global hydrogen peroxide market is broadly affected by several factors including increase in usage of hydrogen peroxide in various applications including paper & pulp, chemical, wastewater treatment, mining, and others. Rise in global demand for paper and pulp has led to significant growth in usage of hydrogen peroxide. Increase in production of paper and pulp is expected to be the primary driver of the global hydrogen peroxide market. Thus, rise in demand for paper and pulp is propelling the hydrogen peroxide market.
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Hydrogen Peroxide Market: Dynamics
Hydrogen peroxide is the simplest form of peroxide that acts as a strong oxidizing and bleaching agent. It can be manufactured through various manufacturing processes; however, anthraquinone autoxidation is the most widely used process. Hydrogen peroxide is used in various end-use industries such as paper & pulp, chemical, mining, and wastewater treatment due to its eco-friendly applications. Inhalation of hydrogen peroxide can cause irritation of the nose, throat, and respiratory tract. Accumulation of fluid in the lungs may occur in severe cases.
Diluted solutions of hydrogen peroxide may cause bleaching or whitening of the skin. Contact with high concentration of hydrogen peroxide can result in severe burns, blisters, irritation and redness, ulcers, and permanent scarring. If high concentration of hydrogen peroxide comes in contact with the eyes, it can result in conjunctivitis, pain, severe eye burns, sensitivity to light, and also permanent injury, including blindness. Rapid pressurization and peroxide/organic vapor phase explosions are also some critical safety concerns related to hydrogen peroxide. Thus, potential health hazards associated with hydrogen peroxide are likely to hamper the global hydrogen peroxide market.
The global paper & pulp industry is expected to expand considerably during the forecast period. Thus, rise in production of paper and pulp is projected to boost the demand for hydrogen peroxide during the forecast period.
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Manufacturers are focusing on the paper & pulp application segment, as the share held by this segment in the hydrogen peroxide market is likely to increase during the forecast period.
Hydrogen Peroxide Market: Prominent Regions
Asia Pacific holds major share of the global hydrogen peroxide market. The market in the region is anticipated to expand at a CAGR of more than 4.6% during the forecast period. Increase in demand for hydrogen peroxide in various application such as paper and pulp, chemical, wastewater treatment, and mining is driving the hydrogen peroxide market in Asia Pacific. China is a key country of the hydrogen peroxide market in Asia Pacific. It held significant share of the hydrogen peroxide market in Asia Pacific in 2020. The country is estimated to maintain its dominant position in the region during the forecast period.
Europe is also a prominent region of the global hydrogen peroxide market. Germany led the hydrogen peroxide market in Europe in 2020. Increase in demand for hydrogen peroxide in paper and pulp & chemical applications is driving the market in Germany.
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Hydrogen Peroxide Market: Major Players
The global hydrogen peroxide market is consolidated, with the presence of key players. Prominent players operating in the global hydrogen peroxide market include Solvay S.A., Evonik Industries AG, Arkema S.A., Mitsubishi Gas Chemical Company, Aditya Birla Chemicals Limited, AkzoNobel N.V., Gujarat Alkalies & Chemicals Limited, Kemira Oyj, Kingboard Chemical Holdings Ltd., and PeroxyChem LLC.
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