Hydrogen Peroxide Market Size, 2020 Industry Share and Global Demand | 2027 Forecast by Fortune Business Insights™
The global hydrogen peroxide market size
is projected to reach USD 2,122.1 million by 2027, exhibiting
a CAGR of 3.7% during the forecast period. Soaring demand for disinfectant
products amid the COVID-19 pandemic will be a powerful growth driver for this
market, states Fortune Business Insights™ in its report, titled “Hydrogen
Peroxide Market Size, Share & COVID-19 Impact Analysis, By Grade (<35%
and >35%), By Type (Disinfectant, Bleaching Agent and Others), By
Application (Pulp & Paper, Chemical Synthesis, Textile Bleaching, Water
Purification, Home & Personal Care and Specialty Applications), and
Regional Forecast, 2020-2027”. The coronavirus pandemic has
reaffirmed the importance of hygiene and sanitation since the virus has been
known to spread through infected surfaces as well as through the air. As a
result, the demand for disinfectants has suddenly spiked. The Clorox Company,
for example, reported in June 2020 that the shipment of its disinfectant
products was at an all-time high, with the demand for some products spiking by
more than 500%.
Similarly, to meet the surging demand,
Zep Inc. announced in June that it will be increasing the production of
disinfectants and sanitizers at its plants in Texas and Georgia. Hydrogen
peroxide (H2O2) is a widely used compound in a variety of disinfectants owing
to its fungicidal, sporicidal, virucidal, and bactericidal properties. Thus, the
COVID-19 pandemic will provide a major boost to the growth of this market.
According to the report, the global market value stood at USD 1,613.8
million in 2019. The report also offers the following:
- Actionable research into the various drivers, trends, constraints,
and opportunities shaping the market;
- In-depth analysis of each market segment;
- Comprehensive insights into the regional developments influencing
the market; and
- Microscopic evaluation of the growth strategies adopted by the key
market players.
Market Driver
Growing Volume of Wastewater Discharge
Worldwide to Heighten Demand for H2O2
Wastewater management and treatment has
become a serious challenge to governments and other regional and international
bodies. According to UN Water, globally, approximately 80% of the wastewater is
released into the ecosystem without being treated. As a result, around 1.8
billion people around the world are forced to use water contaminated with a
wide variety of pollutants, putting them at risk of developing diseases such as
cholera and typhoid. Hydrogen peroxide provides an optimal solution to the
problem of wastewater treatment as this compound is extremely versatile and
environment-friendly. It has strong oxidizing properties, which make it
suitable for destroying different kinds of pollutants present in water.
Furthermore, partial oxidation of toxic compounds using hydrogen peroxide can
raise their biodegradability quotient, thus reducing their toxicity. Thus, the
dire need to effectively treat wastewater is likely to fuel the hydrogen
peroxide market growth.
Regional Insights
Asia Pacific to Dominate the Market
with Support from Excellent Industrial Growth
With a market size of USD 296.9 million
in 2019, Asia Pacific is poised to hold a commanding position in the hydrogen
peroxide market share during the forecast period. The prime growth accelerator
for this region is the prolific growth of various industries such as paper,
textile, and chemicals, where H2O2 is extensively utilized. The most promising
industry among these is the paper industry, with Asia Pacific holding the apex
position in terms of paper & paperboard consumption, as per the Food and Agriculture
Organization (FAO) estimates.
Competitive Landscape
Tactical Investments in Boosting &
Expanding Production Capacity to Spur Competition
Key players in this market are making
massively investing in strengthening their production capacities to consolidate
their regional market presence and expand their operations beyond their home
turf. In addition, companies are also aggressively enhancing R&D activities
to cater to the growing diversity of demand for H2O2 applications.
Industry Developments:
September 2020: Solvay launched a multi-year initiative to evolve
its industry footprint called the “Peroxides for the Future (P4F)” program.
Under this program, Solvay will curb its H2O2 production in Western Europe from
January 2021 and boost capacity at its onsite satellite plants.
February 2020: Mitsubishi Gas Chemical Company announced the
construction of a new facility to produce industrial H2O2 in Taiwan. With an
investment of USD 156.6 million, the company aims at advancing its super-pure
hydrogen peroxide business to bolster its operations in the semiconductor
industry.
List of the Leading Companies Profiled
in the Global Hydrogen Peroxide Market are:
- Gujarat Alkalies and Chemicals Ltd. (India)
- Nouryan (The Netherlands)
- Hansol Chemical Co. Ltd. (South Korea)
- Taekwang Industrial Co., Ltd. (South Korea)
- Mitsubishi Gas Chemical Company Inc. (Japan)
- Evonik Industries A.G. (Germany)
- Indian Peroxide Ltd. (India)
- OCI COMPANY Ltd. (South Korea)
- Thai Peroxide Ltd. (Thailand)
- Kemira Oyj (Finland)
- Arkema S.A. (France)
- Solvay S.A. (Belgium)
Browse Detailed Summary of Research
Report with TOC:
https://www.fortunebusinessinsights.com/hydrogen-peroxide-market-103920
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Trends
- Key Insights
- Key Insights – For Major Countries
- Key Developments
- Regulatory Scenario
- PEST Analysis
- Production Overview
- Trade Flow Analysis
- Pricing Analysis
- COVID-19 Impact Analysis
- Supply Chain Challenges
- Steps Taken by Government/Companies to combat COVID-19
- Potential Opportunities due to COVID-19 Outbreak
TOC Continued…!
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