Global Hydrogen Peroxide Market By Type (Purity 27.5% , Purity 35% , and Purity 50%), By Application , By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2019–2028

Hydrogen Peroxide Market Overview

Global hydrogen peroxide sales were valued at US$ 1.51 billion in 2021. They are expected to increase at a CAGR rate of 4.9% between 2023-2032. The rising demand for hydrogen peroxide in the healthcare industry, due to its antiseptic qualities, is expected to continue to drive market growth. Antiseptic is highly desired in the healthcare sector. This product is traditionally used on cuts and bruises to prevent infection. It can also be used to rinse the mouth, as it can soothe irritations or reduce mucus. It releases oxygen, which results in foaming on the skin, eventually leading to the effective removal of dead skin.

Global Hydrogen Peroxide Market Scope:

Function Analysis

With a market share of 36.1%, the bleaching segment led the market in volume. The product is widely used as a bleaching agent in many industries including medical, pulp and paper, and textiles. It is extremely useful in the medical sector as a dental bleach, mouth wash, hair bleach, and for maintaining good oral hygiene. The textile sector uses a greater amount of the substance to bleach. This is because it can be used to brighten clothes, and remove stains from natural and synthetic fibers, as well as to remove them. It can also be used to improve mechanical properties and fabric manufacturing.

In terms of volume, the disinfectant segment will grow at the fastest CAGR over the forecast period. This is due to the fact that disinfectants are used in the formulation of multiple cleaning agents and hygiene products. The demand for this function increased significantly in the first quarter of 2020 following the outbreak of the flu virus worldwide. It also boosted the production of many disinfectant products such as floor cleaners, outdoor and indoor cleaners, as well as hand sanitizers. These events led to an increase in hydrogen peroxide being used as a disinfectant around the globe. The trend is expected to continue in the future.

Application Analysis

The pulp and paper application segment dominated in terms of quantities, holding a market share of 33.8%. This material, often known as bleach, is a crucial component for the pulp and paper industry worldwide because it doesn’t contain any chlorine. It can be used to raise brightness and enhance the mechanical, chemical, and paper quality. As it lowers production costs, offers better quality, is simple to use, and is environmentally benign, it has created a rising demand in the business.

Over the forecast period, the healthcare application segment will experience the highest volume growth rate at a CAGR of 4.6%. Due to the rapid manufacturing of disinfectant and sanitizing products by many multinationals, this is due to the large demand. These products will see significant demand worldwide due to the increasing awareness about the importance these healthcare essentials have in our day-to-day lives.

The high demand for wastewater treatment is a key sector. This is largely due to the product’s ability to reduce the Chemical Oxygen Demand (COD), and Biological Oxygen Demand (BOD) levels. Chemical oxidation results in the removal of toxic substances from water. Its ability to remove harmful chemicals from the water makes it safe for consumption. There are many ways to get rid of toxic elements in water with hydrogen peroxide. This includes direct chemical oxygenation, enhanced separation of COD, and BOD, as well as using the product for supplemental oxygen.

The substance’s chemical and biological properties and biodegradability have made it a popular ingredient in the food and drink processing industry. Evonik is working to improve its product properties so that they can be used in a wider range of food processing sectors. For example, the product could be used to whiten the food and protect it from microbial degradation for a longer time.

Key Market Segments

Function

• Disinfectant

• Oxidant

• Bleaching

• Others

Application

• Pulp & Paper

• Wastewater Treatment

• Chemical Synthesis

• Food & Beverages

• Mining

• Healthcare

• Personal Care

• Textiles

• Others

Market Dynamics

In light of the COVID-19 epidemic, hydrogen peroxide demand has increased dramatically worldwide. This is due to its high use in the production of disinfectant products. Multiple government guidelines across the globe state that public and private spaces must be disinfected to reduce the spread of the coronavirus. Public spaces such as railway platforms, public stoppages, commercial buildings, airports, and stoppages must be sterilized for at least 60 minutes in closed areas. Many other governments have also issued similar cleaning protocols for household use. There has been a notable increase in demand for disinfectants, sanitizers, and sterilizers.

One of the most important components in the production and use of disinfectants is hydrogen peroxide. A typical disinfectant contains between 3% and 4% hydrogen peroxide, 0.5% and 1% peroxyacetic Acid, and a small amount of Isopropyl Alcohol, and chlorine dioxide. According to the Center for Biocide Chemistries, the substance is expected to be in high demand for a longer time period because of its exceptional properties to resist viruses, bacteria, and other microorganisms.

Additionally, the material has a variety of uses in the wastewater treatment industry because it is a great oxidizing agent and is also trustworthy, eco-friendly, and adaptable. The catalyzed product’s ability to quickly oxidize contaminants makes it very successful in this business. The need for water treatment in the United States has significantly increased ever since the country was plagued by protracted illnesses brought on by water-borne diseases. As a result, consumption of the product will continue to expand steadily across North America, especially in the United States.

The Asia Pacific has experienced strong demand for processed food over the past decade. This can be attributed to an increase in consumer preference for packaged foods and a rise in disposable income across the key economies. This product is used in various food processing industries, such as the initial stage of treating instant food with hydrogen peroxide to increase clarity and whiteness. It is also used extensively as a bleaching agent for gums and natural oil, starch, sugar, and natural starch. These factors are expected to increase demand for the product in Asia Pacific food processing applications.

Regional Analysis

The Asia Pacific was the largest market and held a 38.2% stake in global revenue for 2021. This is due to the increased penetration of chemical formulators, personal-care products, and the medical industries in the region. Because of the lower prices of land, increased availability, and trade balance, China, India, and South Korea have been major hubs where multinationals are able to establish business practices in these areas.

Due to the persistent water-borne illnesses in North America, North America leads the wastewater treatment industry. The U.S. processes more than 34 million gallons of toxic drinking water daily for safe consumption. One of the most important requirements in the United States is to remove phosphorus and other toxic elements from water sources. Additionally, the wastewater must be oxidized. This has resulted in a large consumption of hydrogen peroxide in the industry.

The growing demand for personal hygiene products in Europe has resulted in an increase in hydrogen peroxide use. The product’s antimicrobial and oxidizing properties are the main reasons for increasing demand in this area. The popularity of cosmetics and personal care products like haircare formulations, skin care creams, and lotions have increased in countries like the U.K. France, Italy, and Germany. This is due in large part to the increased penetration by cosmetic producers in these markets to tap the potential market.

The majority of cosmetic and personal care product producers are located in Europe. Numerous multinational corporations, like Estella’s, L’Oréal, Procter & Gamble (Deutsche GmbH), Beiersdorf AG, and Unilever, have long-standing business activities in the major European economies. As the global center of fashion, Paris has attracted a large number of textile businesses as well as cosmetic producers. As a result, hydrogen peroxide use has significantly increased throughout Europe.

Key Regions and Countries covered in the report:

• North America

  • US

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Russia

  • Spain

  • Rest of Europe

• APAC

  • China

  • Japan

  • South Korea

  • India

  • Rest of Asia-Pacific

• South America

  • Brazil

  • Argentina

  • Rest of South America

• MEA

  • GCC

  • South Africa

  • Israel

  • Rest of MEA

Market Share Analysis

From a global perspective, the market has been marked by fierce competition due to the presence of a number of well-known brands. Rising competition has resulted in several product launches. Then came process reforms by multinationals, patented technology, and project expansions. To establish long-term relationships with regional healthcare, textile, and chemical manufacturing companies and to increase their market share and sustain local businesses, the majority of industry participants involved in manufacturing this product have been observed to have signed long-term agreements.

Key Market Players

These are the major players in the global hydrogen peroxide industry:

• Taekwang Industrial Co. Ltd.

• Evonik Industries AG

• Grupa Azoty

• Arkema

• Akzo Nobel N.V.

• Solvay

• National Peroxide Limited

• Gujarat Alkalis & Chemicals Ltd.

• Airedale Chemical

• Other Key Players

For the Hydrogen Peroxide Market research study, the following years have been considered to estimate the market size: