Hydrogen Peroxide Market Size, Share, Trends, Growth and Forecast 2032

Hydrogen Peroxide Market Insights

According to a report from Zion Market Research, the global Hydrogen Peroxide Market was valued at USD 3.37 Billion in 2023 and is projected to hit USD 5.33 Billion by 2032, with a compound annual growth rate (CAGR) of 5.23% during the forecast period 2024-2032.

This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Hydrogen Peroxide Market industry over the next decade.

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Market Overview     

Hydrogen peroxide is a chemical compound composed of hydrogen and water. It acts as a mild antiseptic used on the skin to prevent infection of minor cuts, burns, and scrapes. In addition, it is used for the manufacture of mouth irritation relievers. Key players across hydrogen peroxide market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the market study.

In a major breakthrough witnessed across hydrogen peroxide market, in August 2018, researchers at MIT have created an innovative hydrogen peroxide sensing molecule that will help them see the interior parts of the cancer cells and then determine the effective drug therapy to combat cancer. 

COVID-19 Impact Analysis

The global hydrogen peroxide market has witnessed a significant growth in demand from the hospitals fighting the spread of COVID-19. According to the several researches, oxidizing disinfectants such as hydrogen peroxide are mainly effective against coronaviruses. Hence, it is regularly being used to disinfect medical equipment. In addition to this, a growing number of companies are increasing the use of hydrogen peroxide for disinfecting personal protective equipment for hospitals facing shortage.

The significant increase in the global hydrogen peroxide market size in 2020 is estimated on the basis of the COVID-19 outbreak. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.

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Growth Factors

Massive product penetration across paper & pulp, textiles, mining, pharmaceutical, medical, and personal care sectors is anticipated to expand the scope of hydrogen peroxide market over the coming years. Apart from this, extensive use of the product as a bleacher, cleaning agent, oxidizer, and sanitizer in myriad industries will substantially contribute towards the hydrogen peroxide market revenue in the years ahead. Furthermore, large-scale application of hydrogen peroxide in food packaging, furnishing, food packaging, and water treatment will further impel the hydrogen peroxide market space.

Oscillations in the costs of raw materials, however, are likely to impede the expansion of hydrogen peroxide market over the years to come. Nevertheless, the widespread product use in the developing countries, including China, Brazil, and India will generate lucrative opportunities for the business over a couple of years, normalizing the impact of hindrances on the hydrogen peroxide market, reports the study.

Hydrogen Peroxide Market: Report Scope

End-User Segment Analysis Preview  

Paper and Pulp industry has the largest market share in the hydrogen peroxide market and is expected to remain dominant throughout the forecast period. This is attributed to the upsurge in usage of hydrogen peroxide as a versatile bleaching agent in chemical pulp, mechanical pulp bleaching sequences, and in paper recycling with printed ink removal.

Regional Analysis Preview

Regionally, Asia Pacific has been leading the worldwide hydrogen peroxide market and is anticipated to continue on the dominant position in the years to come, states the market study. For the record, Asia Pacific contributed nearly 50% towards overall hydrogen peroxide market size in 2020. Rise in the paper & pulp production across the densely populated regions such as China and India is anticipated to favorably impact the hydrogen peroxide market in APAC over the next few years.

The high number of market players being headquartered in North America is another significant factor that is supporting this regional market. The growing requirement of hydrogen peroxide in packaging materials and recycled paper will leverage the hydrogen peroxide market  profitability over the years to come.   

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Key Market Players & Competitive Landscape

Major market players of hydrogen peroxide market comprise -

• Arkema S.A.
• Evonik Industries AG
• Solvay S.A.
• Akzo Nobel N.V.
• Kemira Oyj
• Mitsubishi Gas Chemical Company
• PeroxyChem LLC
• Aditya Birla Chemicals Limited
• Gujarat Alkalies and Chemicals Ltd (GACL)
• Kingboard Chemical Holdings Ltd. 

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The global Hydrogen peroxide Market is segmented as follows:

By End-User

• Paper and Pulp
• Chemical
• Wastewater Treatment
• Mining
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa