Hydrogen Peroxide Market Size, Manufacturers, Supply Chain, Sales Channel | Valuates Reports

Hydrogen Peroxide Market

Due to the COVID-19 pandemic, the global Hydrogen Peroxide market size is estimated to be worth USD 4338.3 Million in 2022 and is forecast to a readjusted size of USD 5240.8 Million by 2028 with a CAGR of 3.2% during the forecast period 2022-2028.

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Trends Influencing the Global Hydrogen Peroxide (H2O2) Market

Widespread application in end-use industries will accelerate the growth of the market

Hydrogen peroxide is an excellent bleaching agent used in the paper, pulp, and textile industry for the smooth treatment of natural and synthetic fibers giving out a fresh natural brightness. Its antimicrobial properties also provide relief in case of wound healing, reduce plaque and help in the reduction of gingivitis indices. Further, the chemical is also used as a cleaning and oxidizing agent in cosmetics, homecare, personal care, food and beverages sector for manufacturing cheese, tea, and the electronics industry. Moreover, the growing usage of hydrogen peroxide as a disinfectant for water purification and treatment also provides huge scope for growth. Thus widespread demand from various end-user industry verticals will fuel the growth of the hydrogen peroxide market during the forecast period.

Niche area usage will surge the growth of the market

Hydrogen peroxide is also widely used in niche areas such as gardening, horticulture, laundry, glow sticks, and fish keeping. It is an excellent low-cost bleaching agent that is used for deodorizing and stain removal in all washable and die-stable fabrics. The chemical is used for the production of chemiluminescence which is basically an emission of light due to a chemical reaction resulting in the production of glow sticks. Further weak hydrogen peroxide solutions are used for watering plants which helps in enhancing a plant's root development, preventing root rot and other pests. Moreover, hydrogen peroxide also finds application in aquaculture for controlling mortality caused by other microbes and increasing oxygen levels for small fish. Thus growing usage in niche fields will drive the growth of the Hydrogen Peroxide Market during the forecast period.

Expanding chemical industry will spur the growth of the market

The rapid expansion of the chemical industry will also contribute to the growth of the market during the forecast period. Hydrogen peroxide is used increasingly for the production of peracetic acid, flame retardants, Propylene oxide process, herbicide production, and various others. As an important part of the chemical industry which is seeing exponential growth due to rising private sector investments and geographical expansion, the demand for hydrogen peroxide is expected to rise further in the coming years. Thus growing expansion of the chemical industry will significantly fuel the growth of the hydrogen peroxide market during the forecast

Covid 19 impact has created a growing demand for the growth of the market

Due to stricter government guidelines and regulations disinfecting public and private spaces has become the most important protocol for restricting the spread of coronavirus disease. Due to the sudden spread of the pandemic, there has been a huge increase in the usage of disinfectants and cleaning products. Commercial buildings, airports, train platforms, households, etc all are being sterilized for maintaining cleanliness and hygiene during these uncertain times. Thus increasing consumption of disinfectants is driving the growth of the hydrogen peroxide market as H2O2 chemical compound is mainly used for manufacturing disinfectants.

Hydrogen Peroxide Market Share

Based on region, Asia-pacific is expected to hold the largest hydrogen peroxide market share during the forecast period due to rapid urbanization, growing penetration of chemical formulators, personal care products, and medical industries. Countries in the region have managed to transform themselves into multinational hubs due to the presence of skilled labor, low land prices, and increasing trade activities.

Hydrogen Peroxide Market Segmentation

By Type
• Purity 27.5%
• Purity 35%
• Purity 50%
• Others.

By Application
• Paper Industry
• Textile Industry
• Electronics Industry
• Chemical Industry

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