The Global Hydrogen Peroxide Market size is expected to reach $4.5 billion by 2030, rising at a market growth of 5.2% CAGR during the forecast period. In the year 2022, the market attained a volume of 4,991.76 kilo tonnes experiencing a growth of 4.7% (2019-2022).
Hydrogen peroxide is an integral part of infection control protocols in healthcare settings. Regular disinfection of surfaces, medical equipment, and common areas helps minimize the spread of infections within hospitals and clinics. Consequently, the healthcare segment would generate approximately 8.3% share of the market by 2030. In dental settings, hydrogen peroxide is utilized for disinfecting dental instruments and surfaces. It is also a component in some oral care products for its antimicrobial properties. As a result, there will be increased demand in the segment. Some of the factors affecting the market are growing environmental awareness worldwide, rising usage in the pulp and paper industry adoption of alternative technologies and chemical formulations.
One of the primary reasons hydrogen peroxides is considered environmentally friendly is its unique ability to decompose into water (H2O) and oxygen (O2) without leaving harmful residues. This decomposition occurs naturally, contributing to a reduced environmental impact compared to chemicals that may persist. Hydrogen peroxide is chemically stable, and its decomposition occurs straightforwardly. This stability reduces the likelihood of the compound accumulating in the environment and causing long-term harm, aligning with sustainability goals. These factors will drive the demand for hydrogen peroxide in the coming years. Moreover, the use of hydrogen peroxide in pulp bleaching contributes to the production of high-quality pulp with improved brightness and whiteness. This is crucial for meeting the quality standards of end-users and responding to market preferences for aesthetically pleasing and environmentally friendly paper products. These factors will drive the demand for hydrogen peroxide in the coming years.
Advancements in disinfection technologies may present alternatives to hydrogen peroxide in certain applications, especially in healthcare and surface disinfection. Emerging technologies such as UV-C light, ozone generators, and novel chemical formulations may offer more targeted or rapid disinfection solutions, impacting the demand for hydrogen peroxide-based disinfectants. Developing bio-based disinfectants derived from renewable resources may pose competition to hydrogen peroxide. These factors will lead to hampered growth in the market.
Based on application, the market is divided into pulp & paper, chemical synthesis, wastewater treatment, mining, food & beverages, personal care, healthcare, textiles, and others. The wastewater treatment segment procured a significant revenue share in the market in 2022. Wastewater often contains a mix of organic and inorganic pollutants, including dyes, heavy metals, and organic chemicals. Hydrogen peroxide's versatility allows it to target and degrade these compounds, facilitating the removal of contaminants from water sources. Owing to these factors, there will be increased growth in the segment.
On the basis of function, the market is divided into disinfectant, bleaching, oxidant, and others. The bleaching segment recorded the maximum revenue share in the market in 2022. Hydrogen peroxide is extensively used in the textile industry for fabric and garment bleaching. Textile manufacturers choose hydrogen peroxide over traditional bleaching agents due to its effectiveness, safety, and environmental benefits. The pulp and paper industry are a major consumer of hydrogen peroxide for bleaching processes. As the industry seeks environmentally friendly alternatives to chlorine-based bleaching agents, hydrogen peroxide has gained prominence. These factors will boost the demand in the segment.
Report Attribute | Details |
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Market size value in 2022 | USD 3 Billion |
Market size forecast in 2030 | USD 4.5 Billion |
Base Year | 2022 |
Historical Period | 2019 to 2021 |
Forecast Period | 2023 to 2030 |
Revenue Growth Rate | CAGR of 5.2% from 2023 to 2030 |
Number of Pages | 350 |
Number of Table | 650 |
Quantitative Data | Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2019 to 2030 |
Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
Segments covered | Function, Application, Region |
Country scope |
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Companies Included | Evonik Industries AG (RAG-Stiftung), TAEKWANG Industrial Co., ltd., Arkema S.A., Grupa Azoty S.A., Solvay SA, Akzo Nobel N.V., Gujarat Alkalies and Chemicals Limited, Mitsubishi Gas Chemical Company, Inc., OCI Company Ltd., Airedale Chemical Holdings Limited. |
Growth Drivers |
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Restraints |
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By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America segment acquired a considerable revenue share in the market. North America strongly emphasizes environmental sustainability, and hydrogen peroxide aligns with this commitment. As it decomposes into water and oxygen, the chemical's eco-friendly nature resonates with industries and consumers who prioritize sustainable and green practices. These aspects will pose lucrative growth prospects for the segment.
Free Valuable Insights: Global Hydrogen Peroxide Market size to reach USD 4.5 Billion by 2030
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Evonik Industries AG (RAG-Stiftung), TAEKWANG Industrial Co., ltd., Arkema S.A., Grupa Azoty S.A., Solvay SA, Akzo Nobel N.V., Gujarat Alkalies and Chemicals Limited, Mitsubishi Gas Chemical Company, Inc., OCI Company Ltd., Airedale Chemical Holdings Limited.
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Function (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
The Market size is projected to reach USD $4.5 billion by 2030.
Growing environmental awareness worldwide are driving the Market in coming years, however, Adoption of alternative technologies and chemical formulations restraints the growth of the Market.
Evonik Industries AG (RAG-Stiftung), TAEKWANG Industrial Co., ltd., Arkema S.A., Grupa Azoty S.A., Solvay SA, Akzo Nobel N.V., Gujarat Alkalies and Chemicals Limited, Mitsubishi Gas Chemical Company, Inc., OCI Company Ltd., Airedale Chemical Holdings Limited.
In the year 2022, the market attained a volume of 4,991.76 kilo tonnes experiencing a growth of 4.7% (2019-2022).
The Pulp & Paper segment is leading the Market by Application in 2022, thereby, achieving a market value of $1.2 Billion by 2030.
The Asia Pacific market dominated the Market by Region in 2022, thereby achieving a market value of $1.8 Billion by 2030, growing at a CAGR of 5.4 % during the forecast period.
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