Wilmington, Delaware, Nov. 14, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Hydrogen Peroxide Market by Application (Chemical Synthesis, Pulp and Paper, Wastewater Treatment, Textile, Mining, Food and Beverage, Personal Care, Healthcare, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.” According to the report, the global hydrogen peroxide industry is expected to gain $8.9 billion by 2031, having witnessed a value of $5.4 billion in 2021, generating a considerable CAGR of 5.2% from 2022 to 2031.
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Prime Determinants of Market Growth:
The global hydrogen peroxide market is experiencing rapid growth, owing to an increase in demand from the pulp and paper industry, hydrogen peroxide is widely used in a variety of applications, and a surge in demand from the healthcare industry for the product. On the other hand, the health and environmental risks associated with hydrogen peroxide are predicted to impede the growth of the market. Moreover, an increasing need for hydrogen peroxide in the wastewater treatment industry is expected to create new opportunities for market growth in the coming years.
The pulp & paper segment to retain its lion's share during the forecast period-
By application, the pulp & paper segment garnered the largest market share in 2021, contributing to nearly half of the global hydrogen peroxide market revenue, and is expected to retain its lion's share during the forecast period. The pulp and paper industry is continuously adapting to changing consumer demands and developments. The increasing usage of hydrogen peroxide for commercial purposes, and its usage as a disinfectant, is expected to offer considerable growth opportunities.
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Asia-Pacific garnered the major market share in 2031-
By region, Asia-Pacific contributed to the largest market share in 2021, garnering nearly half of the global hydrogen peroxide market revenue, and is expected to maintain its leadership status throughout the forecast period. The same region would also demonstrate the fastest CAGR of 6.0% from 2022 to 2031. Hydrogen peroxide (H2O) is gaining traction in the pharmaceutical and healthcare industries, resulting in a surge in chemical demand and the improvement of the hydrogen peroxide market within the Asia-Pacific region. The report also discussed other provinces consisting of North America, Europe, Latin America, Middle East & Africa.
Industry-Leading Players:
- Indian Peroxide Ltd.
- Cleartech Industries
- Solvay
- Hansol Chemicals
- Arkema S.A.
- Evonik Industries
- Meghmani Finechem Limited
- Gujarat Alkalies And Chemical Ltd.
- Akzo Nobel
- BASF
- Kemira Oyj
- National Peroxide Limited
The report offers a thorough examination of these key players in the global hydrogen peroxide market. These players have fostered various strategies such as the launch of new products, geographical expansion, joint ventures, collaborations, agreements, and others to increase their market share and maintain their lead position in different regions. The report is valuable in focusing on operating segments, business performance, product portfolio, and deliberate moves of leading players to embrace the competitive scenario.
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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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