Global Industrial Hydrogen Peroxide Market Overview
The Industrial Hydrogen Peroxide Market Size was estimated at 4.71 (USD Billion) in 2022. The Industrial Hydrogen Peroxide Industry is expected to grow from 4.97 (USD Billion) in 2023 to 8.11 (USD Billion) by 2032. The Industrial Hydrogen Peroxide Market CAGR (growth rate) is expected to be around 5.59% during the forecast period (2024 - 2032).
Key Industrial Hydrogen Peroxide Market Trends Highlighted
This market remains competitive due to promising utilization rates of paper-based packaging, which is expected to witness further growth driven by moderate demand for e-commerce and improved competition in the pulp and paper industry. Super clear and managed explanation of these factors, as industry trends suggest, the increasing market demand for sustainable packaging will enhance growth and development, promising new avenues for investment. In addition, product offerings include the expansion of glass recycling facilities gravity to surrounding suburbs and lateral extension of glass collection points. The phenomenon of producing packaging products devoid of firms' engagement in waste-paper collection. The future outlook and market potential of pack and packaging materials can be derived from the above statements.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Industrial Hydrogen Peroxide Market Drivers
Growing Demand from the Pulp and Paper Industry
One of the major consumers of industrial hydrogen peroxide is the pulp and paper industry. The paper market is expected to grow at a CAGR of 2.5% over the next five years, driven by the demand from emerging markets. Pulp and paper industry growth is expected to drive the demand for industrial hydrogen peroxide, as a significant amount of pulp is still used for high-quality paper, which requires bleaching as one of the stages. On the other hand, industrial hydrogen peroxide is used in a wide range of applications, such as water treatment, food and beverages, chemical manufacturing, and others.The growth of this application is also expected to drive the growth of the industrial hydrogen peroxide market. The pulp and paper industry growth is expected to be the major driver of the demand growth for this substance. The paper market is expected to be valued at USD 325 billion by 2025, driven by the demand from emerging markets. Pulp and paper industry growth is expected to drive the demand for industrial hydrogen peroxide, as a significant amount of pulp is still used for high-quality paper, which requires bleaching as one of the stages.The demand for industrial hydrogen peroxide is also expected to increase due to the increasing popularity of green bleaching processes. Industrial hydrogen peroxide is an environmentally friendly bleaching alternative to chlorine, which produces some by-products that are hazardous. As a result, many pulp and paper mills are switching to industrial hydrogen peroxide bleaching processes. The Industrial Hydrogen Peroxide Market Industry in 2017 is worth USD 6.3 billion.The Industrial Hydrogen Peroxide Market Industry will grow at a CAGR of 5.59% over the next five years, reaching a value of USD 8.11 billion by 2022.
Stringent Environmental Regulations
Stringent environmental regulations are also driving the growth of the industrial hydrogen peroxide market. Industrial hydrogen peroxide is a more environmentally friendly alternative to chlorine bleaching, which can produce harmful byproducts. As a result, many industries are switching to industrial hydrogen peroxide-based processes to reduce their environmental impact. The pulp and paper industry is a major consumer of industrial hydrogen peroxide, and it is also one of the most heavily regulated industries in terms of environmental protection.The Industrial Hydrogen Peroxide Market Industry is expected to grow at a CAGR of 5.59% over the next five years, reaching a value of USD 8.11 billion by 2032.
Technological Advancements
Technological advancements are another factor that is expected to drive the growth of the industrial hydrogen peroxide market. New technologies are being developed to produce industrial hydrogen peroxide more efficiently and cost-effectively. These technologies are expected to make industrial hydrogen peroxide more competitive with other bleaching agents, such as chlorine. The industrial hydrogen peroxide market industry is expected to grow at a CAGR of 5.59% over the next five years, reaching a value of USD 8.11 billion by 2032.
Industrial Hydrogen Peroxide Market Segment Insights
Industrial Hydrogen Peroxide Market Grade Insights
The grade segment of the Industrial Hydrogen Peroxide Market is divided into technical grade and food grade. The technical grade segment dominated the market in 2023 and will continue to dominate the market in the future. The growth of the segment is attributed to the increasing use of hydrogen peroxide in various industries. It is used as a bleaching agent for textiles, paper, and pulp and as an oxidizing agent in various chemical processes. The food grade segment is estimated to grow during the forecast period due to the rising use of hydrogen peroxide as a disinfectant and preservative to foods in the food and beverage industry.The segment will be worth USD 1.35 billion by 2032, and it will grow at a CAGR of 5.8% in the forecast period.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Industrial Hydrogen Peroxide Market Application Insights
The application segment plays a crucial role in shaping the dynamics of the Industrial Hydrogen Peroxide Market. Among its various applications, pulp and paper bleaching holds a significant market share, driven by the increasing demand for high-quality paper products. In 2023, the pulp and paper bleaching segment accounted for approximately 35% of the Industrial Hydrogen Peroxide Market revenue, and it is projected to continue its dominance throughout the forecast period. Textile bleaching is another major application segment, accounting for around 25% of the market share.The growing demand for textiles in various industries, such as apparel, home furnishings, and medical textiles, is fueling the growth of this segment. Water treatment applications also contribute a notable share to the market, with an estimated 20% of the revenue in 2023. The increasing need for effective wastewater treatment and disinfection is driving the demand for hydrogen peroxide in this segment. Chemical synthesis represents a smaller yet important segment, accounting for approximately 15% of the market share. Hydrogen peroxide is used as an oxidizing agent and bleaching agent in the production of various chemicals, including pharmaceuticals, plastics, and detergents.The growth of the chemical industry is expected to positively impact this segment in the coming years. Overall, the application segment insights provide valuable information for market participants to understand the key drivers and growth opportunities within the Industrial Hydrogen Peroxide Market.
Industrial Hydrogen Peroxide Market Concentration Insights
The concentration segment plays a crucial role in the Industrial Hydrogen Peroxide Market, influencing market growth and industry dynamics. Among the key concentrations, 35%, 50%, and 70% hold significant market shares. 35% concentration, with its versatility and wide range of applications, accounts for a substantial portion of the market revenue. It finds extensive use in various industries, including pulp and paper bleaching, textile processing, and water treatment. 50% concentration offers a balance between strength and handling convenience.It is commonly employed in chemical synthesis, metal etching, and disinfection processes. 70% concentration represents a highly concentrated form of hydrogen peroxide, primarily utilized in specialized applications such as rocket propulsion and chemical manufacturing. Its high reactivity makes it suitable for processes requiring intense oxidizing power. Overall, the concentration segment offers a diverse range of options tailored to specific industry requirements. Each concentration level caters to distinct applications, driving market segmentation and contributing to the overall growth of the Industrial Hydrogen Peroxide Market.
Industrial Hydrogen Peroxide Market Regional Insights
Regionally, North America held the largest market share in 2023, followed by Europe, APAC, South America, and MEA. The growth in the North American market is attributed to the increasing demand for hydrogen peroxide in various industries, including pulp and paper, textiles, and water treatment. The European market is also expected to witness significant growth due to the increasing adoption of hydrogen peroxide in the chemical and pharmaceutical industries. The APAC region is expected to be the fastest-growing market for industrial hydrogen peroxide over the forecast period, driven by the growing demand from the pulp and paper industry in countries such as China and India.The South American market is expected to grow at a steady pace due to the increasing awareness of the benefits of hydrogen peroxide in various applications. The MEA market is expected to witness a moderate growth rate due to the increasing demand from the oil and gas industry.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Industrial Hydrogen Peroxide Market Key Players And Competitive Insights
Major players in the Industrial Hydrogen Peroxide Market industry are continuously focusing on developing new products and expanding their geographical reach. Leading Industrial Hydrogen Peroxide Market players are also investing heavily in research and development to enhance their product offerings and gain a competitive edge. The Industrial Hydrogen Peroxide Market is highly competitive, with several key players vying for market share. Some of the prominent players in the market include Evonik Industries, Solvay, Arkema, Nouryon, and Aditya Birla Chemicals. These companies are constantly innovating and expanding their product portfolios to meet the evolving needs of their customers.Evonik Industries is a leading specialty chemicals company that offers a wide range of industrial hydrogen peroxide products. The company has a strong presence and serves customers in various industries, including pulp and paper, textiles, and chemicals. Evonik is committed to providing high-quality products and services and has a strong track record of innovation. The company is also actively involved in sustainability initiatives and is working to reduce its environmental footprint.Solvay is another major player in the Industrial Hydrogen Peroxide Market. The company has a long history of innovation and has been a pioneer in the development of hydrogen peroxide products. Solvay offers a wide range of hydrogen peroxide products, including high-purity grades for semiconductor manufacturing and food-grade products for the food and beverage industry. The company has a strong presence and serves customers in over 50 countries. Solvay is committed to providing sustainable solutions and is actively involved in various environmental initiatives.
Key Companies in the Industrial Hydrogen Peroxide Market Include
Industrial Hydrogen Peroxide Market Industry Developments
The industrial hydrogen peroxide market is projected to grow from USD 4.97 billion in 2023 to USD 8.11 billion by 2032, at a CAGR of 5.59% during the forecast period. The growth of the market is attributed to the increasing demand for hydrogen peroxide in various industries, such as chemical, pulp and paper, textile, and food and beverage.Key recent developments in the market include:- In January 2023, Evonik Industries announced the expansion of its hydrogen peroxide production capacity in Antwerp, Belgium. The expansion is expected to increase the company's annual production capacity by 50,000 metric tons.- In February 2023, PeroxyChem announced the acquisition of Arkema's hydrogen peroxide business. The acquisition is expected to strengthen PeroxyChem's position in the hydrogen peroxide market.- In March 2023, Solvay announced the launch of a new hydrogen peroxide production plant in China. The plant is expected to have an annual production capacity of 100,000 metric tons.These developments indicate the growing demand for hydrogen peroxide and the increasing investment in the market.
Industrial Hydrogen Peroxide Market Segmentation Insights
Industrial Hydrogen Peroxide Market Grade Outlook
Industrial Hydrogen Peroxide Market Application Outlook
Industrial Hydrogen Peroxide Market Concentration Outlook
Industrial Hydrogen Peroxide Market Regional Outlook
| Report Attribute/Metric | Details |
| Market Size 2022 | 4.71 (USD Billion) |
| Market Size 2023 | 4.97 (USD Billion) |
| Market Size 2032 | 8.11 (USD Billion) |
| Compound Annual Growth Rate (CAGR) | 5.59% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | BASF SE, Solvay, PeroxyChem, Kemira, Tosoh Corporation, Lanxess, Evonik Industries, SIBUR HOLDING, PCC Rokitachowice, Oxygen Chemicals, Nouryon, Dow Chemical, OCI Chemicals Corp, L'Air Liquide, Arkema SA |
| Segments Covered | Grade, Application, Concentration, Regional |
| Key Market Opportunities | Pulp amp Paper Industry Textile Industry Growing demand for water treatment Pharmaceuticals and Healthcare Bleaching agents |
| Key Market Dynamics | Surging demand for paper amp pulp wastewater treatment applications and bleaching agents |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Industrial Hydrogen Peroxide Market is expected to witness a CAGR of 5.59% from 2024-2032.
The Industrial Hydrogen Peroxide Market was valued at approximately USD 4.97 billion in 2023.
The Industrial Hydrogen Peroxide Market is projected to reach a valuation of USD 8.11 billion by 2032.
The North America region is expected to hold the largest market share in the Industrial Hydrogen Peroxide Market by 2032.
Major applications of Industrial Hydrogen Peroxide include bleaching of textiles, paper and pulp, and disinfection of water and food.
Key competitors in the Industrial Hydrogen Peroxide Market include Evonik, Solvay, Arkema, and Kemira.
The Industrial Hydrogen Peroxide Market in North America is expected to grow at a CAGR of 4.5% from 2024-2032.
The Industrial Hydrogen Peroxide Market in Europe is projected to reach a valuation of USD 2.2 billion by 2032.
The pulp and paper segment is expected to hold the largest market share in the Industrial Hydrogen Peroxide Market by 2032.
The Industrial Hydrogen Peroxide Market in the Asia-Pacific region is expected to be valued at approximately USD 2.5 billion in 2023.
Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
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