Industrial Hydrogen Peroxide Market Growth, Trends, Key Players Forecast 2022-28

According to Precision Business Insights (PBI) latest report, The Industrial Hydrogen Peroxide market is expected to be worth USD 2,278.5 million in 2022, growing at a 5.3% CAGR from 2022 to 2028. Rising demand from the paper and pulp sector, as well as increased use of hydrogen peroxide as a raw material for propylene oxide manufacturing (HPPO Process), is predicted to drive the market in the coming years. Hydrogen peroxide is a cost-effective and environmentally friendly oxidizing agent that has a variety of uses in the chemical industry. On a mass basis, the product is an effective oxidizing agent due to its low molecular weight. It has the benefit of being soluble in water, organic solvents, and even the substrate. Furthermore, rising consumer and employee health awareness, as well as an increase in water treatment facilities in companies, are driving the industrial hydrogen peroxide market in the forecast period.

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Pulp & Paper Segment Dominates the Industrial Hydrogen Peroxide Market:
The pulp & paper segment is expected to account for a larger revenue share in the global industrial hydrogen peroxide market with a value share in the global market. It is projected to grow at 5.7% CAGR between 2022 and 2028. The pulp and paper sector accounted for the greatest proportion of the global industrial hydrogen peroxide market, and this trend is projected to continue in the coming years. Bleaching pulp and paper with industrial hydrogen peroxide raises brightness levels, improves brightness stability, and lowers manufacturing costs. Also, it is environmentally friendly. To improve their market share and meet the growing demand for industrial hydrogen peroxide, companies are investing in expanding their production capabilities. For example, BASF SE, Solvay SA, and SK chemicals collaborated to establish a hydrogen peroxide-to-propylene oxide complex in South Korea. The demand for industrial hydrogen peroxide has increased as the pulp and paper, and textile sectors have expanded.

The Asia Pacific Leads Industrial Hydrogen Peroxide Market:
The Asia Pacific is expected to hold the 41.7% market share in the global industrial hydrogen peroxide market in the forecast period. It is projected to grow at a CAGR of 5.1% in the coming years. The rise of the electronic sector in developing Asian countries, as well as the use of hydrogen peroxide in water treatment, is expected to boost demand for the market. As domestic demand continues to climb steadily, India's share of global paper consumption is growing. The demand for upstream paper products such as tissue paper, filter paper, tea bags, lightweight online coated paper, and medical-grade coated paper, as well as the demand for better quality packaging of FMCG products sold through organized retail, is expected to drive the paper & paper products in India in the coming years. Results in increasing demand for industrial hydrogen peroxide in the market. Also, China is a chemical processing center, producing a significant portion of the world's chemicals. The demand for hydrogen peroxide from this industry is expected to rise throughout the forecast period, owing to rising global demand for various chemicals such as hydrogen peroxide.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global industrial hydrogen peroxide market further reveals that the key players increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gaining significant geographic presence across the region.

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The industrial hydrogen peroxide market is segmented based on function, end-use industry, and geography.
Based on the function, the market is segmented into the following:
• Bleaching
• Oxidizing
• Sterilizing/Disinfecting
• Propulsion
• Others

Based on the end-use industry, the market is segmented into the following:
• Pulp & Paper
• Chemical Synthesis
• Healthcare & Personal Care
• Food Processing
• Textile
• Water & Wastewater Treatment
• Electronics & Semiconductor
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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Key player's profiles in the Industrial Hydrogen Peroxide market report are Evonik Industries AG, Taekwang Industrial, CO., LTD., Arkema, Grupa Azoty, Solvay, Akzo Nobel N.V., Gujarat Alkalies & Chemicals Ltd., National Peroxide Limited, OCI Company Ltd., Airedale Chemical.

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