Hydrogen Peroxide Market Size - Segmented by Product Function, End-user Industry, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global hydrogen peroxide market is evaluated to exhibit a CAGR of 2.87% during the forecast period, 2018-2023. Asia-Pacific is expected to own the largest share of the market among other regions during the forecast period, supported by the growing demand from pulp & paper, textile, and chemical industries. One of the major factors driving the growth of the market studied is the increasing demand from the paper and pulp industry. Increasing paper production in Asia-Pacific is expected to drive the market studied. In addition, the increasing consumption of hydrogen peroxide as a raw material for propylene oxide production is also expected to drive the market studied.
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 the key leading pulp and paper producing countries, and the global production of paper & pulp is increasing constantly at a slower pace.
Bleaching Product Function to Dominate the Market
Hydrogen peroxide is, both, a strong reducing and oxidizing agent. It is used in the bleaching of chemical, mechanical and recycled pulp. Hydrogen peroxide, in its liquid form, is widely known for its cleaning and bleaching properties. The strong oxidizing nature of hydrogen peroxide has made it widely useful as a bleaching agent in various markets, including textile, paper & pulp, cosmetics, etc. It is also used for coloring fabrics, both natural, as well as synthetic (such as cotton, wool, silk, linen, rayon, etc.), as it helps in improving the consistency of dye transfer to the fabric and clothes. Moreover, animal fiber can only be bleached by peroxide, which helps provide a high and stable degree of whiteness.
Asia-Pacific to Lead the Market
Asia-Pacific is to hold the considerable share of the market with the increasing consumption of hydrogen peroxide on large scale. China is the largest pulp and paper producing nation in the world, as a result of its large forest reserves (22.5% of the land area). The industry is modern and highly mechanized, and the labor is inexpensive. China is a hub for chemical processing, accounting for a major chunk of the chemicals produced, globally. The Indian paper industry has become more promising, as the domestic demand is on the rise. Increasing population, literacy rate, and improvements in the manufacturing sector are expected to augment the growth in the Indian paper industry. The focus of the paper industry is currently shifting toward more eco-friendly products and technologies. With the increasing demand for various chemicals globally, the demand for hydrogen peroxide from this sector is projected to grow during the forecast period.
Key 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 Players -Evonik Industries AG, Mitsubishi Gas Chemical Company Inc., Arkema Group, Kemira Oyj, Eko Peroxide LLC (AkzoNobel NV), National Peroxide Ltd, and Guangdong ZhongCheng Chemicals Inc. Ltd, among others.
Reasons to Purchase the Report
- Identify the current and future prospects of the hydrogen peroxide market in the developed and emerging markets
- Analyze various perspectives of the market with the help of Porter’s five forces analysis
- Information about the growth of the various segments that are expected to dominate the market
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
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