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What's driving the Hydrogen Peroxide Market trends? | Key Players like Arkema, Evonik Industries, Solvay, Akzo Nobel, Kemira Oyj, Aditya Birla Chemicals, National Peroxide Limited
Hydrogen peroxide market
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Constant demand generated from key end use industries such as mining, chemical, water treatment, and pulp & paper is driving hydrogen peroxide market trends. In terms of revenue, global hydrogen peroxide market size is likely to gain revenues worth USD 6.39 Bn by 2024. The consolidating trend of paper recycling and augmenting demand for flexible packaging materials is anticipated to bolster hydrogen peroxide market size.
The product is extensively used in the water treatment sector, as well as in various chemical processes. In addition, the commercialization of hydrogen peroxide propylene oxide or HPPO process for the production of propylene oxide is likely to further push market trends. Other factors contributing to the hydrogen peroxide market growth include electronic grade applications of the product, usage in metal treatment, and concrete investment in R&D activities, which has resulted in significant development in product grades.
In the chemical industry, the product has routine applications in the production of sodium perborate, sodium percarbonate, and various other peracids. Hydrogen peroxide market share from chemical industry applications stood at over USD 1,300 mn in 2015 and is expected to expand with an anticipated CAGR of 6% over 2016-2024.
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Speaking of the paper & pulp industry, hydrogen peroxide market is anticipated to procure remarkable revenues from the vertical. The product is used for brightening deinked papers, which is likely to boost hydrogen peroxide market demand. For the record, the global paper & pulp industry stood at USD 550 bn in 2015 and is anticipated to expand with a rapid momentum in the coming years.
However, owing to stringent regulatory norms pertaining to the production of hydrogen peroxide, manufacturers are increasingly shifting focus towards Asia Pacific, making it a potential avenue for hydrogen peroxide market growth in the coming years. As per estimates, APAC constituted more than 50% of the global hydrogen peroxide market share in 2015 with a valuation of USD 2 billion.
Major companies in the hydrogen peroxide market are Arkema S.A, Evonik Industries AG, Solvay, Akzo Nobel N.V., Kemira Oyj, Mitsubishi Gas Chemical Company, Inc., PeroxyChem LLC, Aditya Birla Chemicals Limited, Gujarat Alkalies and Chemicals Ltd. (GACL), Kingboard Chemical Holdings Ltd., National Peroxide Limited.
Browse More News:
https://www.globenewswire.com/news-release/2020/03/24/2005379/0/en/Pretreatment-coatings-market-slated-to-surpass-15-5-billion-by-2026-Says-Global-Market-Insights-Inc.html
https://www.prnewswire.com/news-releases/powder-coating-market-to-exceed-usd-17-bn-by-2025-global-market-insights-inc-300940763.html
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