Global Hydrogen Peroxide Market - Segmented by Product Function, End-User Industry, and Geography - Growth, Trends and Forecasts (2018 - 2023)
The global hydrogen peroxide market is evaluated to exhibit a CAGR of 5.12% during the forecast period, 2018-2023. Asia-Pacific is expected to own the largest share of the market among other regions, supported by the growing demand from pulp & paper, textile, and chemical industries. Pulp & paper was found to be the largest end-user industry for hydrogen peroxide market.
Increasing Demand from Pulp & Paper Industry
In recent decades, the demand for hydrogen peroxide in the paper & pulp industry has significantly increased. The increased demand is because of improved paper quality and increased yield of wood mass. In addition, hydrogen peroxide is used, in environment friendly bleach products, to remove chlorine compounds through bleaching processes. Countries, such as China, United States, India, etc., are key leading pulp and paper producing countries, and the global production of paper & pulp is increasing constantly at a slower pace.
Pulp & Paper Industry to Own the Larger Share among Other End-user Industries
Hydrogen peroxide is, both, a strong reducing and oxidizing agent. It is used in the bleaching of chemical, mechanical and recycled pulp. The usage of hydrogen peroxide has increased in pulp & paper industry due to rising demand for de-inked recycled papers. The main bleaching agent used for pulp and paper industry is hydrogen peroxide. The increasing demand for paper is to drive the market for hydrogen peroxide.
Asia-Pacific to Lead the Market with High Share
Asia-Pacific is to hold the considerable share of the market with the increasing consumption of hydrogen peroxide on large scale. There is a growth in the used paper treatment business. China is the largest market for hydrogen peroxide in the region. The market for hydrogen peroxide in the region is expected to grow with the growth in pulp & paper and chemical industry.
Notable Developments in the Market
June 2017: Clorox Healthcare announced important enhancements in its leading hydrogen peroxide healthcare disinfectants, in line with the growing concerns in healthcare, by EPA.
Major Key Players Solvay AG, Evonik Industries, Arkema, FMC, Eko Peroxide LLC (AkzoNobel), amongst others.
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Analyzing various perspectives of the market with the help of Porter’s five forces analysis
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Countries expected to witness the fastest growth during the forecast period
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