Hydrogen Peroxide Market size was estimated at $5,073.6 Million in 2019 and is expected to reach $7,479 Million by 2027, growing at a CAGR of 5.7% during the forecast period of 2020 to 2027.
Hydrogen Peroxide Market Growth Factors
Hydrogen Peroxide Market has varied sources of demand especially from healthcare, food and beverage, textile, sanitization, mining, chemical, paper and pulp industries. This is especially attributed to the wide range of uses it provides to these industries. For instance, in healthcare, the product is highly demanded as an antiseptic on cuts, bruises and for mouth rinsing to prevent infections. Hydrogen peroxide is one of the major ingredients in the manufacture of disinfectants and sanitizing tools. Further as reported by Center for Biocide Chemistries, hydrogen peroxide is expected to keep generating demand this industry due to its property of providing protection against viruses, bacteria and several micro-organisms. Such a property also opens doors to the food and beverage industry. The product is used to decrease microbial growth in tin food, particularly in milk, fruits, vegetables and to reduce food spoilage during distribution and shipment. Another key use of hydrogen peroxide in the food and beverage industry is in the sterilization of food packaging equipment and material in tetra packs, cans, and pouches. Growing consumer inclination towards packaged food gives various utilities of the product in food processing like initial treatment of instant food to enhance whiteness and clarity. Further, hydrogen peroxide is used in bleaching gums, natural oil, starch, and sugar. These factors are anticipated to boost demand for the product in food processing applications
Hydrogen peroxide is used in the textile industry for bleaching of both natural and synthetic textile fibres. Wastewater treatment also poses great opportunities for oxidizing agent hydrogen peroxide as it is reliable, eco-friendly, and versatile. The water treatment, textile and chemical industry has undergone a significant boost in the developed as well as developing economies which in turn pushes the product market further.
Furthermore, with the onset of COVID-19, demand for hydrogen peroxide has risen substantially globally due to its usage in the manufacture of disinfectant products. Since there have been government regulations for disinfecting public and private spaces. Public areas such as commercial buildings, public stoppages, airports, and railway stations need to be sterilized. Similar household guidelines have also raised the demand for sanitizers and disinfectant products which account for high product market growth.
Hydrogen Peroxide Market Segmentation
Hydrogen Peroxide Market Country Analysis
The global hydrogen peroxide market is expected to grow at a CAGR of 4.7% between 2020 and 2027 from $1.49 billion in 2019. This growth is propelled by the increasing demand for hydrogen peroxide in the healthcare sector for its antiseptic properties. In the wake of COVID-19, the rising need for disinfectants and sanitizing will drive demand for hydrogen peroxide as it is largely used in their formulation. Asia-Pacific holds the largest share of the market, with South Korea, Thailand, Japan, India, and China being the major contributors. Europe and North America are showing signs of positive growth. Major players constitute Gujarat Alkalies & Chemicals Ltd., OCI Company Ltd., Evonik Industries, and Solvay.
Hydrogen Peroxide Market Share and Competition
Key companies operating in this industry 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. Tranquiil, a world wide provider of disinfectants and sanitization services and products, has launched a wide range of disinfectants under the brand ‘GermiGo’ on 3 June 2020. The disinfectants consist majorly of Hydrogen Peroxide, which makes it a sanitizing and cleaning chemical. The products launched by Tranquiil are GermiGo Surface Disinfectants, GermiGo Foos Foos+’ and GermiGo X. The disinfectants manufacturer, Tranquiil, has set a new level of qualities in the disinfectants production. “It is our earnest endeavour that we create a range of safe sanitisation and disinfection products that can be used across all kinds of surfaces. We on our end have ensured that our products comply with international standards. Unless we safeguard ourselves, cases of infection and incidences will only increase multi-fold.”, said the Chief Executive Officer and Founder of Tranquiil, Rushang Shah. He added that the GermiGo products are FDA approved and have been tested according to the international standards.
Other top manufacturers of Hydrogen Peroxide globally 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. These top companies are setting new milestones in the industry and competitions for its fellows.
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• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
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• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
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• Client list and case studies
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Industry Segmentation and Revenue Breakdown
End User Analysis (Revenue, USD Million, 2020 - 2027)
• Pulp & paper
• Water & water treatment
Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World
Hydrogen Peroxide Market Companies
• Arkema S.A
• Evonik Industries AG
• 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
United States Hydrogen Peroxide Market Industry Research Report
Europe Hydrogen Peroxide Market Industry Research Report
Asia Pacific Hydrogen Peroxide Market Industry Research Report
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