LONDON, June 01, 2022 (GLOBE NEWSWIRE) -- A recent Fairfield Market Research report forecasts global hydrogen peroxide market size to reach US$6.6 Bn in revenue toward the end of 2026. Between 2022 and 2026, the market is estimated to see a robust growth outlook at 7.3% CAGR, exhibiting the promising 1.9x expansion as indicated by the report. A widely preferred bleaching agent, and a powerful oxidizer, hydrogen peroxide continues to witness solid uptake by a versatile range of industries, including aeronautics, electronics, food safety, and pulp processing. In addition to its functional attributes, the eco-friendly nature of hydrogen peroxide is expected to primarily drive the growth of global hydrogen peroxide market in future. As far as the preferred grades are concerned, high-purity concentration grades will remain the most preferred among industrial end users.
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Opportunities Abound in Semiconductor Industry
Although pulp & paper, and chemical synthesis maintain their lead in terms of demand generation, specialty application areas have also been arising as the strong potential contributors toward the growth of market. There has been a notable demand surge across electronics industry over the recent past, which is likely to place it as the fastest-growing end user in future. Soaring preference for high-purity concentration grades across the semiconductor industry is likely to create new opportunistic avenues for market players, says the report.
In semiconductor industry, it is widely used as a cleaning agent, and as an etchant during PBC printing and clearly dominates demand for wet chemicals in industry. With the anticipated rise of 5G technology infrastructure, demand for semiconductor is all set for a solid hike, thereby pushing the prospects of hydrogen peroxide as well. Besides, water treatment will also remain a major demand generating industry for hydrogen peroxide producers.
Hydrogen Peroxide Market in Asia Pacific All Set for over 5% Growth by 2026
Asia Pacific represented around half of the revenue share in market in 2021 and the growth of pulp & paper industry has been a major booster to the market expansion here. Dominance of Asia Pacific is likely to prevail through 2026 according to the report. While the region is projected for more than 5% growth during the period of assessment, China will most likely remain the epicentre of growth. The region has been among the important PO producers and shows strong indications of adding new HPPO-based plants in the near future. Given the brisk progress of textile & fashion industry, the Asia’s top textile hubs – Pakistan, and Bangladesh are likely to generate sizeable demand for hydrogen peroxide. Growth of market will be the fastest in the Middle East & Africa, says the report.
On the other hand, stable growth of mature markets like North America, and Europe prevails on account of sustained uptake by the traditional application areas, i.e., pulp & paper, and chemical synthesis. Demand growth is however expected in certain specialty application segments, including water treatment, food processing, cosmetics, and aquaculture. The markets in these regions will continue to benefit from higher environmental awareness, and greater availability of environmentally sustainable alternatives.
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Leaders in Hydrogen Peroxide Market
The report highlights Solvay S.A., Arkema S.A., Evonik Industries AG, Mitsubishi Gas Chemical Company, and Nouryon Holding B.V. as the top five players steering global hydrogen peroxide market competition. While the top five continue to hold control over more than 75% of the global market valuation, Solvay remains the leading supplier.
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