by Hydrogen peroxide is an odorless and colorless liquid that is used primarily as a bleaching and disinfecting agent. It finds application across various industries such as chemicals, mining, paper and pulp, food and beverages, and personal care. Hydrogen peroxide is widely used as an antiseptic and sterilizing agent in hospitals, laboratories, and healthcare centers. It possesses strong antibacterial and antifungal properties that help kill bacteria and germs. The increasing awareness regarding hygiene and personal care is propelling the demand for hydrogen peroxide in personal care products like facial cleansers, hand sanitizers, toothpastes, mouthwashes, and hair bleaches.
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, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
(Hydrogen Peroxide Market is Expected to be Flourished by Demand from Personal Care Industry): Demand from the personal care industry is driving the growth of the hydrogen peroxide market. Personal care products containing hydrogen peroxide as a key ingredient are gaining widespread adoption, owing to its antiseptic properties. Hydrogen peroxide helps kill fungi, bacteria, and viruses on the skin surface, thereby preventing acne, pimples, and other skin infections. It is widely used in facial cleansers, hand sanitizers, and toothpastes. The increasing focus on hygiene and personal grooming, especially post-COVID, is fueling the consumption of personal care products containing hydrogen peroxide.
Another major driver for the hydrogen peroxide market is its use as a bleaching agent in the paper and pulp industry. Hydrogen peroxide is commonly used to bleach wood pulp and enhance the brightness of paper. It helps remove lignin, which is responsible for the natural brownish color of pulp and paper. The booming paper packaging industry is creating high demand for bleached paper, thus benefiting the hydrogen peroxide market.
Segment Analysis
The global Hydrogen Peroxide Market Growth is dominated by bleaching sub segment which holds around 35% of the overall market share. Hydrogen peroxide is widely used as a bleaching agent in the paper and pulp industry for bleaching wood pulp to produce bright white pulp and paper. The bright white color achieved through hydrogen peroxide makes it a preferred agent for bleaching applications in paper and textile industry.
PEST Analysis
Political: The regulations around use of chemicals differ across countries and regions. Additional restrictions may be imposed on use of hydrogen peroxide in certain industries like food and beverages.
Economic: The economic growth especially in Asia Pacific region is driving demand from end use industries like paper and pulp. Lower manufacturing cost in countries like China is helping maintain competitive prices.
Social: Increasing consumer preference for environment friendly products is positively impacting the market. Hydrogen peroxide is considered a greener alternative to chlorine for bleaching applications.
Technological: Advancements in production technologies have improved efficiency and reduced costs. New methods of generating hydrogen peroxide on-site are gaining traction.
Key Takeaways
The global hydrogen peroxide market is expected to witness high growth over the forecast period of 2023 to 2030 supported by increasing demand from pulp and paper industry. 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.
The Asia Pacific region dominated the hydrogen peroxide market in 2024 with a share of around 35% led by strong demand from China, India and other emerging countries in the region. This can be attributed to large presence of pulp and paper industries and growing manufacturing sector. The government initiatives to boost infrastructure development and manufacturing will further propel the demand.
Key players
Key players operating in the hydrogen peroxide market are Novartis AG, Mylan Laboratories Inc., Actavis Generics UK Limited, Sun Pharmaceutical Industries Ltd., Aurobindo Pharma Limited, Zentiva a.s., Sandoz International GmbH, Dr. Reddy’s Laboratories Ltd., Teva Pharmaceutical Industries Ltd., and Accord Healthcare Limited.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
