Market Overview:
Hydrogen Peroxide Market size was valued at USD 3 Billion
in 2023 and is projected to grow at a 5.3% CAGR, between
2023-2033. It is expected to reach USD 5 Billion in the
forecast period.
Hydrogen peroxide is a versatile chemical compound widely
used across various industries. Its primary application is as a
bleaching agent in the paper and pulp industry, where it helps
in whitening paper products. Another major use is in the
healthcare sector, where it is commonly found in disinfectants
and antiseptics. The compound is also utilized in water
treatment plants to remove impurities and in the textile
industry for bleaching fabrics.
In recent years, the demand for hydrogen peroxide has been
growing due to its environmentally friendly properties, as it
breaks down into water and oxygen without leaving harmful
residues. This has increased its appeal in industries focused
on sustainability. The chemical is also used in the production
of certain chemicals, such as peracetic acid, which is used in
food processing and sanitation.
Regionally, the Asia-Pacific market is leading in hydrogen
peroxide consumption, driven by the growing paper, textile,
and healthcare sectors in countries like China and India.
Europe and North America also have significant demand,
especially in the healthcare and wastewater treatment
industries. Overall, the global market for hydrogen peroxide is
expected to continue expanding, supported by its broad range
of applications and the push towards more eco-friendly
industrial solutions.
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Key Takeaways:
● Market Size and Growth Projection: The Hydrogen
Peroxide Market The expected market value by 2033 is
USD 5 Billion and is estimated to grow at a CAGR of
5.3%.
● Functions Driving Market Demand: Bleaching
Dominance Holds a 36.4% market share, extensively
used in medical, pulp and paper, and textile industries.
● Applications Driving Usage: Pulp and Paper Industry
Accounts for 34.2% in the market due to its chlorine-free
properties, enhancing paper quality and lowering
production costs.
● Regional Market Insights: Asia-Pacific: Holds the
largest market share (46.5%), attributed to increased
penetration in chemical formulators and personal-care
products.
Market Growth:
The hydrogen peroxide market has been experiencing steady
growth over the past few years and is expected to continue
expanding in the future. One of the main factors driving this
growth is the increasing demand for environmentally friendly
solutions across various industries. Since hydrogen peroxide
breaks down into water and oxygen, it is seen as a safer and
more eco-friendly option compared to other chemicals. This
has boosted its use in sectors like paper and pulp, textiles,
and water treatment.
In addition, the healthcare industry’s growing need for
disinfectants and antiseptics has also contributed to the rise in
demand. As more focus is placed on hygiene and sanitation,
especially after the COVID-19 pandemic, hydrogen peroxide
has become a key ingredient in many cleaning and
disinfecting products. The chemical’s role in producing
peracetic acid, which is widely used in food and beverage
sanitization, further supports its market growth.
Regions like Asia-Pacific, particularly countries such as China
and India, are expected to lead this market expansion due to
rapid industrialization and increased healthcare needs.
Meanwhile, Europe and North America are also witnessing
steady growth, especially in industries that prioritize
environmental sustainability. As these trends continue, the
hydrogen peroxide market is set to grow at a healthy rate in
the coming years.
Market Demand:
The demand for hydrogen peroxide has been rising steadily
across various industries due to its wide range of applications.
One of the biggest drivers of this demand is the paper and
pulp industry, where hydrogen peroxide is used as a
bleaching agent to produce whiter and brighter paper
products. As the packaging and printing sectors continue to
grow, the need for hydrogen peroxide in this area remains
strong.
In the healthcare industry, the demand for hydrogen peroxide
has increased as well, particularly for its use in disinfectants
and antiseptics. With more focus on hygiene and infection
control, especially after the COVID-19 pandemic, this demand
is likely to stay high. The chemical is also popular in water
treatment processes, where it helps purify and clean water,
making it essential for industrial and municipal water
treatment plants.
Additionally, hydrogen peroxide is being used more frequently
in the production of other chemicals, such as peracetic acid,
which is important for food safety and sanitation. This adds to
the overall demand, especially in the food and beverage
industries. With industries increasingly looking for
environmentally friendly solutions, the demand for hydrogen
peroxide is expected to continue growing, particularly in
regions like Asia-Pacific, where industrial growth and
healthcare needs are rapidly increasing.
Key Market Segments:
Function
● Disinfectant
● Oxidant
● Bleaching
● Others
Application
● Pulp & Paper
● Wastewater Treatment
● Chemical Synthesis
● Food & Beverages
● Mining
● Healthcare
● Personal Care
● Textiles
● Others
The bleaching segment, with a 36.4% market share, is widely
used in various industries, including medical, pulp and paper,
and textiles. It is used for dental, mouthwash, hair bleach, and
maintaining oral hygiene. The textile sector uses more bleach,
as it brightens clothes, removes stains, and improves fabric
manufacturing. The disinfectant segment is expected to grow
at the fastest CAGR due to its use in cleaning agents and
hygiene products. The flu outbreak in Q1 2023 significantly
increased demand for disinfectants, leading to increased
production of floor cleaners, outdoor and indoor cleaners, and
hand sanitizers. This trend is expected to continue.
The pulp and paper application segment dominates with
34.2% of the market share, primarily due to the use of bleach,
a non-chlorine material that enhances mechanical, chemical,
and paper quality. The healthcare application segment is
expected to experience the highest volume growth rate at
4.6% due to the rapid manufacturing of disinfectant and
sanitizing products. The high demand for wastewater
treatment is largely due to hydrogen peroxide's ability to
reduce Chemical Oxygen Demand (COD) and Biological
Oxygen Demand (BOD) levels, making water safe for
consumption. The substance's chemical and biological
properties and biodegradability make it a popular ingredient in
the food and drink processing industry. Evonik is working to
improve its product properties to be used in a wider range of
sectors, such as food whitening and microbial degradation
protection.
Companies:
● Evonik Industries AG
● Taekwang Industrial, CO., LTD.
● Arkema
● Grupa Azoty
● Solvay
● Akzo Nobel N.V.
● Gujarat Alkalies & Chemicals Ltd.
● National Peroxide Limited
● OCI Company Ltd.
● Airedale Chemical
Conclusion:
In conclusion, hydrogen peroxide is a valuable and versatile
chemical that plays an important role in many industries. Its
eco-friendly nature, breaking down into harmless water and
oxygen, makes it an attractive choice for companies seeking
sustainable solutions. With its widespread use in paper and
pulp bleaching, healthcare disinfectants, water treatment, and
chemical production, the demand for hydrogen peroxide is
expected to keep growing. As industries focus more on
environmental responsibility and hygiene, especially in
regions like Asia-Pacific, the market for hydrogen peroxide will
likely see steady expansion in the coming years. Overall,
hydrogen peroxide remains a key player in both industrial and
environmental applications, with strong potential for continued
growth.