Fort Collins, Colorado, Oct. 24, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, the Hydrogen Peroxide Market was valued at USD 3.5 Billion in 2022 and is expected to reach a market size of USD 5.6 Billion by 2032 at a CAGR of 5.1%.
Hydrogen Peroxide is a pale blue chemical, a dense compound than water. Due to its natural environmental occurrence, it is called a ‘green product.’ Hydrogen is the simplest peroxide and decomposes slowly into oxygen when exposed to light. Therefore, it is stored with a stabilizer in dark bottles with weak acidic solutions, away from sunlight. Hydrogen peroxide is a helpful component in first aid, relieving skin itchiness, irritation, and inflammation. It is also commonly used in disinfectants and sanitizers, and with the growing importance of maintaining clean surroundings, demand for hydrogen peroxide is expected to rise. To ensure safety and effectiveness, it is advised to use different concentration mixes for different types of hydrogen peroxide.
The demand for disinfectants and sanitizers significantly increased during the pandemic, leading to a surge in the need for hydrogen peroxide. This compound is widely used in healthcare and is known for its antibacterial, antifungal, and antiviral properties, making it an effective antiseptic for cuts, scrapes, and wounds. The paper and pulp industry is boosting the demand for hydrogen peroxide. With the global growth of the packaging and shipping industry due to the rise of e-commerce and the evolution of the supply chain industry, there is a significant increase in paper usage for packing products. This growth in the paper industry is expected to develop the hydrogen peroxide market further.
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Segmentation Overview:
The global hydrogen peroxide market has been segmented into industry, concentration mix, and region. The paper and pulp industry holds the largest market share in this segment, and hydrogen peroxide is a key ingredient used for bleaching. The hydrogen peroxide market is dominated by mixtures with less than 10% concentration. The hydrogen peroxide market is expected to experience significant growth in Asia. As China is the world's largest textile industry and factory, the demand for hydrogen peroxide is expected to increase across all sectors. India, Indonesia, Vietnam, and South Korea, with their growing economies and prominent industries like textiles, semiconductors, pharmaceuticals, and healthcare, are also expected to be major consumers of hydrogen peroxide.
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Hydrogen Peroxide Market Report Highlights:
- The global hydrogen peroxide market growth is anticipated at a CAGR of 5.1% by 2032.
- Hydrogen peroxide is a useful substance with many applications in industries such as cosmetics, paper and pulp, textiles, electronics, home care, and pharmaceuticals. The growing demand in several healthcare applications indicates that the hydrogen peroxide market will likely experience steady growth in the following years.
- Hydrogen peroxide is commonly used in the paper, pulp, and textile industries to make paper and cloth brighter and whiter. It is also used in the beauty industry as a teeth-whitening agent to make teeth appear whiter and to create shades and tones for hair dyeing.
- Some prominent players in the hydrogen market report include Solvay SA, Evonik Industries AG, Arkema, Kemira Oyj, National Peroxide Limited, Gujarat Alkalies and Chemicals Ltd., Grupa Azoty, and Meghmani Finechem Ltd.
Industry Trends and Insights:
- Solvay SA and Guangxi Chlor-Alkali Chemical have signed an agreement for a hydrogen peroxide manufacturing license and packaging technology. Solvay SA plans to use some of the output in their other business ventures nationwide.
- Researchers from the College of Agricultural, Consumer, and Environmental Sciences (ACES) and the Grainger College of Engineering at the University of Illinois have developed a novel agricultural herbicide that is user-friendly, non-toxic, and cost-effective.
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Hydrogen Peroxide Market Segmentation:
- By Industry: Pulp and paper, textile, pharmaceuticals, cosmetics, food industry, and wastewater management.
- By Concentration Mix: Below 10%, 30-35%, 50%, 60%, 70%, 90%
- By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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