The global Hydrogen Peroxide Market is estimated to be valued at US$ 5460.19 KT in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Hydrogen peroxide is a colorless liquid used primarily as an oxidizing, bleaching and disinfecting agent. Its advantages are that it breaks down into water and oxygen, thereby leaving no toxic residue and are environmentally friendly. It is widely used in paper & pulp bleaching, chemical synthesis, water treatment and many other applications.
Market key trends:
One of the major trends fueling the growth of the hydrogen peroxide market is its increasing application in wastewater treatment. Stringent water pollution control norms across the globe are propelling the use of hydrogen peroxide in industrial as well as municipal wastewater treatment processes for oxidizing organic pollutants. Hydrogen peroxide acts as an effective disinfectant and oxidation agent for treating varied industrial wastewaters from sectors such as pharmaceuticals, chemical manufacturing, food & beverage processing etc. It helps in removing color, odor and pathogenic microorganisms from wastewater before discharging into water bodies. This protects the environment and enables companies to comply with discharge regulations.
Segment Analysis
The global hydrogen peroxide market is segmented into grade, application and region. By grade, the market is classified into industrial grade, electronic grade and others. The industrial grade segment held the largest market share in 2021. Industrial grade hydrogen peroxide is commonly used in various applications such as textile bleaching, pulp & paper bleaching and chemical synthesis owing to its wide technical properties and economical pricing.
Key Takeaways
The global Hydrogen Peroxide Market Share Size is expected to witness high growth, exhibiting CAGR of 3.4% over the forecast period, due to increasing demand from end-use industries such as pulp & paper, textile and water treatment.
Regional analysis
Asia Pacific held the largest share of the global hydrogen peroxide market in 2021 and is expected to dominate the market over the forecast period. Expanding pulp & paper and chemical industries in China, India, Japan and South Korea are majorly driving the growth of hydrogen peroxide market in Asia Pacific.
Key players
Key players operating in the hydrogen peroxide market are Arkema S.A., Evonik Industries A.G., Solvay S.A., Mitsubishi Gas Chemical Company Inc., Kemira Oyj, Thai Peroxide Limited (TPL), Taekwang Industrial Co. Ltd., PeroxyChem LLC, Hansol Chemical, and Nouryon.
For more details on the report, Read- https://www.ukwebwire.com/hydrogen-peroxide-market-trends-size-and-share-analysis/
