Press release
Hydrogen Peroxide Market by 2024 Analysis, Top Company, Regions, Consumption, Production, Suppliers and Forecast 2024
Although worldwide demand for paper witnessed a decrease due to increased digitization, this trend was offset by an increase in demand for paper in the global packaging materials industry. Deinking is an essential sub-process of paper recycling. Increasing awareness about the ecological benefits of paper recycling and the resulting growth in paper recycling industry will also boost the global hydrogen peroxide market during the forecast period.
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Increasing popularity of the hydrogen peroxide propylene oxide (HPPO) process in which the product is a raw material for the synthesis of propylene oxide is anticipated to be a contributing factor for the global hydrogen peroxide market. Ever since its conceptualization in 2008, HPPO process has gained immense popularity and many companies are using this process for propylene oxide synthesis. The products demand in HPPO process will boost the hydrogen peroxide market during the forecast period.
The product is corrosive in nature when it meets eyes, skin or is ingested. It causes irritation and may lead to tissue damage in eyes, skin and respiratory tract. It has the ability to cause fire or explosion when it is kept in proximity to heat, combustible materials or metal catalysts. These factors may hinder the hydrogen peroxide market growth as industry players may substitute the product with safer alternatives.
Global hydrogen peroxide market is segmented, on the basis of end-user, into five categories including pulp & paper, chemical, wastewater treatment, mining and other end-user segments such as pharmaceuticals, hygiene products, etc. Pulp & paper is the most prominent end-user industry accounting above 40% share of the overall hydrogen peroxide market. This category will witness steady growth due to rising demand for paper & pulp in packaging as well as tissue industry. Chemical industry segment also has a substantial share and is anticipated to earn a revenue exceeding USD 4 billion in 2024. This segment will likely grow above 4% CAGR during the forecast period owing to the high growth in the chemicals industry which was valued exceeding USD 5 trillion in 2015.
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Asia pacific is anticipated to account for nearly half of the global hydrogen peroxide market with a growth rate exceeding 6% CAGR. This region is characterized by the presence of many pulp & paper as well as chemical industries, mostly in China and India. This factor will chiefly drive the industries growth in Asia Pacific. Hydrogen peroxide market in Europe will grow at a sluggish rate during the forecast timeframe. Its market value is anticipated to reach USD 1.5 billion in 2024. Stringent rules by regulatory organisations such as OSHA, REACH etc. on the use of the product will hinder the hydrogen peroxide market in Europe.
Key players in the consolidated global hydrogen peroxide market are Evonik Industries AG, Kemira Oyj, Akzo Nobel, Mitsubishi, Arkema, Solvay, Gujarat Alkalies, Aditya Birla Chemicals Ltd., PeroxyChem LLC, and Kingboard Chemical Holdings. Participants in the hydrogen peroxide market is expected to increase their competitive edge in the coming years through acquisitions, mergers and collaborated R&D.
Hydrogen peroxide market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons & revenue in USD million from 2013 to 2024, for the following segments:
Aluminum Alloys Market by End-user
o Pulp & paper
o Chemical
o Wastewater treatment
o Mining
o Others
The above information is provided on a regional and country basis for the following:
o North America
§ U.S.
§ Canada
o Europe
§ Germany
§ UK
§ France
§ Spain
§ Italy
o Asia Pacific
§ China
§ India
§ Japan
§ Australia
§ Indonesia
§ Malaysia
o Latin America
§ Brazil
§ Mexico
o MEA
§ South Africa
§ GCC
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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