Wilmington, Delaware, United States, , Dec. 12, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - As per a recent research report, the Hydrogen Peroxide Market is anticipated to expand at a CAGR of 5.8% from 2021 to 2031. The global market was valued at US$ 2.6 Bn in 2020. Hydrogen peroxide is used primarily as an oxidizing and bleaching agent in the paper and pulp industry. By nature, it is an unstable chemical compound when it comes in contact with a catalyst. Hydrogen peroxide is primarily used in the pulp and paper industry to give the finalized product a glossy and ultra-white look. It also improves the quality and texture of the finalized paper product.
Hydrogen peroxide is widely used and highly sought-after for various purposes in the healthcare industry. This can be ascribed to its exceptional antiseptic qualities. Hydrogen peroxide compounds are also used in the personal care industry for skin treatment. It is an ingredient used widely in personal care for the treatment of minor burns and small cuts.
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Hydrogen Peroxide Market - Key Findings of the Report
- Increase in Demand in Paper & Pulp Industry Accelerating Market Development: Hydrogen peroxide solutions have significant applications in the paper and pulp industry. The compound is primarily utilized as a bleaching agent in order to offer the finalized paper product a nice grade of brightness. This compound can yield enhanced effects for a paper that is intended to be used for publishing magazines, manufacturing tissues, and producing paperboards. Hydrogen peroxide compound is also utilized in paper recycling processes to remove printing ink. Apart from brightening, the compound prevents the finalized paper product from turning yellow due to the presence of alkaline compounds.
Hydrogen Peroxide Market - Growth Drivers
- The surge in applications in the paper and pulp industry bolsters the demand for hydrogen peroxide
- The rise in demand for hydrogen peroxide compounds in mouth rinse products, and the increase in usage as an agent to treat mouth irritations and remove mucus propelling the market growth
- Increase in applications in the healthcare industry driving market development
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Hydrogen Peroxide Market - Key Players
- Leading companies assessed in the market report are Evonik Industries AG, Mitsubishi Gas Chemical Company, AkzoNobel N.V., Kemira Oyj, PeroxyChem LLC, Solvay S.A., Arkema S.A., Aditya Birla Chemicals Limited, Gujarat Alkalies & Chemicals Limited, and Kingboard Chemical Holdings Ltd. Industry leaders are focused on adopting various growth and expansion strategies, such as collaborations and research & development, to facilitate product innovation and new product launches, joint ventures, and mergers & acquisitions. Furthermore, manufacturers in the global market are focusing on expanding their geographical presence in a bid to attract end users from a range of industries. Several companies in the chemicals industry shifted focus toward the production of hydrogen peroxide during the COVID-19 pandemic to generate new revenue streams.
Hydrogen Peroxide Market - Regional Growth Assessment
- Asia Pacific held the largest Hydrogen Peroxide Market share in 2020. The rise in awareness about the applications of hydrogen peroxide across a number of end-use industries is propelling market growth in the region. Fast-paced urbanization and increasing development & growth of regional industries are driving demand in the Asia Pacific. The market in countries such as China, and India has experienced robust growth in the past few years. Consistent increase in demand in the paper & pulp industry is the leading driver of the market in the region. The surge in demand for hydrogen peroxide in the chemical industry is another crucial factor likely to augment the market in the Asia Pacific.
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Hydrogen Peroxide Market: Segmentation
Hydrogen Peroxide Market, by Application
- Paper & Pulp
- Chemical
- Wastewater Treatment
- Mining
- Others [including textiles & health care]
Hydrogen Peroxide Market, by Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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