by Hydrogen peroxide is an inorganic compound with the formula H2O2. In its pure form, it is a pale blue liquid, slightly more viscous than water. Hydrogen peroxide is commonly used as an oxidizing, bleaching and disinfecting agent. In the wastewater treatment industry, hydrogen peroxide is used for oxidation of pollutants and disinfection of treated wastewater. It is preferred for its property of breaking down into water and oxygen, avoiding production of harmful by-products. The global wastewater treatment industry has witnessed significant growth with rising environmental concerns and implementation of stringent regulations regarding wastewater discharge. As hydrogen peroxide plays a vital role in wastewater treatment processes, the rising demand from this industry is expected to drive the growth of global hydrogen peroxide market.
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:
Rising Demand from Wastewater Treatment Industry: As mentioned in the heading, the increasing demand for effective disinfection and oxidation treatment of wastewater from industries such as pharmaceuticals, chemicals, pulp & paper, and municipalities is expected to drive the hydrogen peroxide market growth over the forecast period. Hydrogen peroxide acts as an efficient secondary disinfectant for wastewater and eliminates the formation of harmful disinfection by-products.
Growing Application in Paper & Pulp Industry: Apart from wastewater treatment, hydrogen peroxide is widely used for bleaching of paper pulp in paper & pulp industry. The rising paper production across the globe due to growing packaging, printing and tissue paper industry is also fueling the demand for hydrogen peroxide.
Segment Analysis
The global hydrogen peroxide market is dominated by the pulp and paper segment. Hydrogen peroxide is extensively used as a bleaching agent in the pulp and paper industry. It breaks down to form water and oxygen during bleaching, making it environment friendly compared to elemental chlorine bleaching. This quality of hydrogen peroxide of decomposing into harmless byproducts without producing any harmful effluents makes it the preferred bleaching agent in the pulp and paper industry.
PEST Analysis
Political: Government regulations promoting use of green chemicals will support the hydrogen peroxide market. Being environment friendly, hydrogen peroxide helps industries comply with various emission norms easily.
Economic: Rising paper production along with growing chemical industry will drive the hydrogen peroxide market. As nations develop infrastructure and impose stricter environmental laws, demand from industries like pulp & paper will increase.
Social: Increasing awareness about environmental protection and sustainability is positively impacting the market. Industries are opting for clean chemicals like hydrogen peroxide to maintain their environment friendly image.
Technological: Advancements in hydrogen peroxide production technologies have enhanced its applications. New production methods help lower costs and reduce environmental footprint, encouraging wider industrial adoption.
Key Takeaways
The Global Hydrogen Peroxide Market Growth is expected to witness high over the forecast period of 2023 to 2030. 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.
Regionally, Asia Pacific is expected to dominate the global market during the forecast period. China, India and Japan are major contributors to the region’s high growth due to expanding industrial activities, economic development and strict environmental regulations. This can be attributed to rising demand from industries like pulp & paper, chemicals, water treatment and personal care in highly populous countries like China and India undergoing rapid industrialization.
Key playersÂ
Key players operating in the hydrogen peroxide market are Arkema S.A., Evonik Industries AG, Solvay SA, Mitsubishi Gas Chemical Company and Kemira OYJ. Arkema S.A. is a leading global producer with strong presence across major markets. Evonik Industries AG has a wide portfolio of hydrogen peroxide products catering to diverse industrial segments.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
