Hydrogen Peroxide Market to Hit USD 2,122.1 Million by 2027; Increasing Adoption of Specialty Chemicals in the Pharmaceutical Industry to Foster Growth, Says Fortune Business Insights™

Top companies covered in the hydrogen peroxide market are Gujarat Alkalies and Chemicals Ltd. (India), Nouryan (The Netherlands), Hansol Chemical Co. Ltd. (South Korea), Taekwang Industrial Co., Ltd. (South Korea), Mitsubishi Gas Chemical Company Inc. (Japan), Evonik Industries A.G. (Germany), Indian Peroxide Ltd. (India), OCI COMPANY Ltd. (South Korea), Thai Peroxide Ltd. (Thailand), Kemira Oyj (Finland), Arkema S.A. (France), Solvay S.A. (Belgium)

Pune, Oct. 19, 2020 (GLOBE NEWSWIRE) -- The global hydrogen peroxide market size is projected to reach USD 2,122.1 million by 2027, exhibiting a CAGR of 3.7% during the forecast period. Soaring demand for disinfectant products amid the COVID-19 pandemic will be a powerful growth driver for this market, states Fortune Business Insights™ in its report, titled “Hydrogen Peroxide Market Size, Share & COVID-19 Impact Analysis, By Grade (<35% and >35%), By Type (Disinfectant, Bleaching Agent and Others), By Application (Pulp & Paper, Chemical Synthesis, Textile Bleaching, Water Purification, Home & Personal Care and Specialty Applications), and Regional Forecast, 2020-2027”. The coronavirus pandemic has reaffirmed the importance of hygiene and sanitation since the virus has been known to spread through infected surfaces as well as through the air. As a result, the demand for disinfectants has suddenly spiked. The Clorox Company, for example, reported in June 2020 that the shipment of its disinfectant products was at an all-time high, with the demand for some products spiking by more than 500%.

Similarly, to meet the surging demand, Zep Inc. announced in June that it will be increasing the production of disinfectants and sanitizers at its plants in Texas and Georgia. Hydrogen peroxide (H2O2) is a widely used compound in a variety of disinfectants owing to its fungicidal, sporicidal, virucidal, and bactericidal properties. Thus, the COVID-19 pandemic will provide a major boost to the growth of this market.

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According to the report, the global market value stood at USD 1,613.8 million in 2019. The report also offers the following:

• Actionable research into the various drivers, trends, constraints, and opportunities shaping the market;

• In-depth analysis of each market segment;

• Comprehensive insights into the regional developments influencing the market; and

• Microscopic evaluation of the growth strategies adopted by the key market players.

Market Driver

Growing Volume of Wastewater Discharge Worldwide to Heighten Demand for H2O2

Wastewater management and treatment has become a serious challenge to governments and other regional and international bodies. According to UN Water, globally, approximately 80% of the wastewater is released into the ecosystem without being treated. As a result, around 1.8 billion people around the world are forced to use water contaminated with a wide variety of pollutants, putting them at risk of developing diseases such as cholera and typhoid. Hydrogen peroxide provides an optimal solution to the problem of wastewater treatment as this compound is extremely versatile and environment-friendly. It has strong oxidizing properties, which make it suitable for destroying different kinds of pollutants present in water.
Furthermore, partial oxidation of toxic compounds using hydrogen peroxide can raise their biodegradability quotient, thus reducing their toxicity. Thus, the dire need to effectively treat wastewater is likely to fuel the hydrogen peroxide market growth.

Regional Insights

Asia Pacific to Dominate the Market with Support from Excellent Industrial Growth

With a market size of USD 296.9 million in 2019, Asia Pacific is poised to hold a commanding position in the hydrogen peroxide market share during the forecast period. The prime growth accelerator for this region is the prolific growth of various industries such as paper, textile, and chemicals, where H2O2 is extensively utilized. The most promising industry among these is the paper industry, with Asia Pacific holding the apex position in terms of paper & paperboard consumption, as per the Food and Agriculture Organization (FAO) estimates.

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Competitive Landscape

Tactical Investments in Boosting & Expanding Production Capacity to Spur Competition

Key players in this market are making massively investing in strengthening their production capacities to consolidate their regional market presence and expand their operations beyond their home turf. In addition, companies are also aggressively enhancing R&D activities to cater to the growing diversity of demand for H2O2 applications.

Industry Developments:

September 2020: Solvay launched a multi-year initiative to evolve its industry footprint called the “Peroxides for the Future (P4F)” program. Under this program, Solvay will curb its H2O2 production in Western Europe from January 2021 and boost capacity at its onsite satellite plants.

February 2020: Mitsubishi Gas Chemical Company announced the construction of a new facility to produce industrial H2O2 in Taiwan. With an investment of USD 156.6 million, the company aims at advancing its super-pure hydrogen peroxide business to bolster its operations in the semiconductor industry.

List of the Leading Companies Profiled in the Global Hydrogen Peroxide Market are:

• Gujarat Alkalies and Chemicals Ltd. (India)

• Nouryan (The Netherlands)

• Hansol Chemical Co. Ltd. (South Korea)

• Taekwang Industrial Co., Ltd. (South Korea)

• Mitsubishi Gas Chemical Company Inc. (Japan)

• Evonik Industries A.G. (Germany)

• Indian Peroxide Ltd. (India)

• OCI COMPANY Ltd. (South Korea)

• Thai Peroxide Ltd. (Thailand)

• Kemira Oyj (Finland)

• Arkema S.A. (France)

• Solvay S.A. (Belgium)

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Detailed Table of Content:

• Introduction

  • Research Scope

  • Market Segmentation

  • Research Methodology

  • Definitions and Assumptions

• Executive Summary

• Market Dynamics

  • Market Drivers

  • Market Restraints

  • Market Opportunities

  • Key Trends

• Key Insights

  • Key Insights – For Major Countries

  • Key Developments

  • Regulatory Scenario

  • PEST Analysis

  • Production Overview

  • Trade Flow Analysis

  • Pricing Analysis

• COVID-19 Impact Analysis

  • Supply Chain Challenges

  • Steps Taken by Government/Companies to combat COVID-19

  • Potential Opportunities due to COVID-19 Outbreak

TOC Continued…!

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