Hydrogen Peroxide Market 2020 and Forecast 2021-2027

  • TBI395259
  • November 05, 2020
  • Global
  • 135 pages
  • IFF Market Research

Report Overview: Hydrogen Peroxide Market

The global hydrogen peroxide market size was valued at USD 1.38 billion in 2020 and looks set to grow at a compound annual growth rate (CAGR) of 4.6% from 2021 to 2027. Rising demand for the product from the healthcare industry due to its antiseptic properties is projected to remain a key factor fueling market growth. In the healthcare sector, the product is highly demanded as an antiseptic, which is traditionally utilized on skin cuts and bruises to prevent infections. It is also widely used as a mouth rinse as it has the ability to relieve mouth irritation or mucus and other oral infections. Majorly, the substance releases oxygen, which leads to foaming on the bruised and cut skin and eventually leads to effective removal of dead skin as well as keeps the wound safe from infection. Furthermore, in light of the recent COVID-19 pandemic, demand for hydrogen peroxide has grown significantly worldwide due to its high consumption in formulation of disinfectant products. According to multiple guidelines issued by governments across the globe, disinfecting public as well as private spaces is extremely necessary to subside the impact of the coronavirus spread. Public areas such as commercial buildings, public stoppages, airports, and railway platforms need to be sterilized for over 60 minutes within closed boundaries. Similar household cleaning protocols have also been issued by several governments and therefore demand for sanitizers and disinfectant products have reflected noteworthy growth. For production of such disinfectants and sanitizing products, hydrogen peroxide is one of the key components. For instance, a typical disinfectant usually comprises 3% to 4% hydrogen peroxide, 0.5% to 1% peroxyacetic acid, certain amount of isopropyl alcohol, chlorine dioxide, and other components. Moreover, as cited by Center for Biocide Chemistries, the substance is anticipated to remain in high demand across the industry for a prolonged time period due to its excellent properties to provide resistance against viruses, bacteria, and several other microorganisms. Moreover, the substance finds a range of application in the wastewater treatment segment as it is an excellent oxidizing agent and is simultaneously dependable, environmental-friendly, and versatile in nature. Catalyzed form of the product has the ability to destroy oxidize pollutants rapidly and is therefore considered highly effective in the sector. The water treatment industry has witnessed a significant boost in the U.S. market since the country faced prolonged illness related to water-borne sickness, and thus the consumption of the product is projected to reflect steady growth in this segment across North America, especially the U.S. Furthermore, Asia Pacific has reflected high demand for processed food since the past decade due to increasing consumer preference to consume packaged edibles, coupled with rise in disposable income among the key economies of the region. The product finds various utilities in the food processing sector, which includes initial stage treatment of instant food with hydrogen peroxide to enhance whiteness and clarity of the food products. Moreover, the product is broadly used as a bleaching substance for gums, natural oil, starch, and natural sugar. These factors are anticipated to boost demand for the product in food processing applications across the Asia Pacific.

Function Insights: Hydrogen Peroxide Market

In terms of volume, the bleaching segment lead the market with a share of 37.0% in 2019. The product finds significant application as a bleaching agent across an array of industries, such as pulp and paper, medical, and textiles. Within the medical sector, the product is immensely useful as a dental bleach, for hair bleaching, as a mouth wash, and for maintaining oral hygiene. A larger portion of the substance as a bleach is used in the textiles industry, wherein it is broadly utilized to brighten clothes and remove stains from both synthetic as well as natural fibers. It also aids in enhancing mechanical properties of fibers and is therefore used in fabric manufacturing process as well. The disinfectant segment is expected to expand at the fastest CAGR in terms of volume over the forecast period 2021-2027. This is attributed to high indulgence of the product in formulating multiple cleaning agents and hygiene products. Demand for this function surged from the first quarter of 2020 after the virus outbreak globally, which significantly boosted manufacturing of multiple disinfectant products, such as floor cleaners, glass cleaners for indoor and outdoor applications, and hand sanitizers. These led to increasing consumption of hydrogen peroxide as a disinfectant across the globe and the trend is likely to remain the same over the foreseeable future.

Application Insights: Hydrogen Peroxide Market

In terms of volume, the pulp and paper application segment lead the market with a share of 35.6% in 2019. The substance, as a bleach, is recognized as a chlorine-free element and is therefore considered an essential product in the pulp and paper industry globally, wherein it is appropriately used to improvise mechanical and chemical properties of pulp and increase paper quality and brightness. It has developed an increasing demand in the sector as it reduces cost of production, provides improved quality, and is easy to use and environmental-friendly. The healthcare application segment is expected to expand at the fastest CAGR in terms of volume over the forecast period. This is attributed to widespread demand for the product from rapid manufacturing of sanitization products and disinfectant goods by several multinationals across the globe. In light of the global pandemic, the requirement for these products will reflect significant growth worldwide over a prolonged period of time due to increasing awareness among people regarding the importance for these healthcare essentials in their day to day life. Furthermore, one of the crucial sectors that reflects high demand for the product is wastewater treatment, majorly because of the substance’s effectiveness in reducing the Chemical Oxygen Demand (COD) and Biological Oxygen Demand (BOD) levels from water with the process of chemical oxidation. The product is widely accepted across the industry due to its ability to remove toxic effluents from water, thereby making it safe for consumption. There are multiple methods of removal of toxic elements from water using hydrogen peroxide, which includes direct chemical oxidation process, enhanced physical separation of COD and BOD, and using the product as a supplemental source of oxygen. Furthermore, the substance registered noteworthy demand from the food and beverage processing sector worldwide due to its biological degradability and chemical properties. Companies such as Evonik are focusing on enhancing their product properties to cater a broader spectrum in the food processing sector, wherein the product could be used as a whitening agent as well as protect the food items from microbial degradation for a longer period of time.

Regional Insights: Hydrogen Peroxide Market

The Asia Pacific led the market and accounted for 39.5% share of the global revenue in 2019. This is attributed to increasing penetration of chemical formulators, personal care products, and medical industries in the region. China, India, Thailand, South Korea, and Japan have turned into major hubs for multinationals operating in these domains to establish their business practices in the country due to lower land prices, availability of skilled labor, and increased trade balance. North America is observed to be leading the wastewater treatment industry due to persistence of prolonged water-borne illness in the country. U.S. treats more than 34 billion gallons of toxic water on a daily basis for safe consumption by the local residents. Removal of phosphorus and nitrogen from the water sources, coupled with oxidation of wastewater, is one of the key requirements prevalent in the country, which has eventually led to high consumption of hydrogen peroxide across the industry in the country. Growing requirement for various personal care products in the European marketspace has also led to increasing consumption of hydrogen peroxide in the region. Increasing demand for the product in this application is majorly due to its oxidizing abilities and antimicrobial properties. Cosmetics and personal care products such as hair care formulations and skin care creams and lotions have gained significant traction in countries, such as U.K., France, Italy, Germany, and Spain. This is majorly due to the increased penetration of cosmetic producers in these countries to tap the potential market. Additionally, Europe has the largest concentration of cosmetic and personal care product formulators globally. Multinational companies such as Deutschland GmbH, Procter & Gamble, Loreal, Beiersdorf AG, and Unilever have their business operations established across the key economies of Europe for decades. Furthermore, Paris, being the fashion hub of the world, has attracted multiple textile companies as well as cosmetic manufacturers in the country, which has aided in substantially increasing consumption of hydrogen peroxide in these industries across European countries.

Key Companies & Market Share Insights: Hydrogen Peroxide Market

The market, from a global perspective, has been characterized by intense competition due to the presence of several recognized brands. Rising competition in the global marketspace has led to several new product launches, followed by process reforms adopted by these multinationals, patented technologies, and project expansions. Majority of the key industry participants involved in manufacturing the product are observed to have long-term agreements with regional level personal care, healthcare, wastewater treatment, textile, and chemical manufacturing companies to establish sustainable businesses in the regional ecosystem and increase their market share. Some of the prominent players in the global hydrogen peroxide market include:

Key companies Profiled: Hydrogen Peroxide Market Report

This report forecasts volume and revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global hydrogen peroxide market report on the basis of function, application, and region:

Function Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

  • Disinfectant
  • Bleaching
  • Oxidant
  • Others

Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

  • Pulp & Paper
  • Chemical Synthesis
  • Wastewater Treatment
  • Mining
  • Food & Beverages
  • Personal Care
  • Healthcare
  • Textiles
  • Others

Table of Contents
Chapter 1 Methodology & Scope
1.1 Market segmentation & scope
1.2 Market definitions
1.3 Information procurement
    1.3.1 Information analysis
    1.3.2 Market formulation & data visualization
    1.3.3 Data validation & publishing
1.4 Research scope and assumptions
    1.4.1 List to data sourcesChapter 2 Executive Summary
2.1 Market outlook
2.2 Competitive insightsCha
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