According to ChemAnalyst report, “Global Hydrogen Peroxide Market: Plant Capacity, Production, Demand & Supply, Concentration, Grade, End Use, Sales Channel, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, the global Hydrogen Peroxide market is expected to grow at a healthy CAGR of 5.1% during the forecast period on account of robust rise in demand from Paper and Pulp industry backed by unprecedented surge in Hydrogen Peroxide consumption for manufacturing disinfectants utilized primarily in food processing, packaging and healthcare industries. Demand for Hydrogen Peroxide has witnessed a remarkable jump in double-digits during the current scenario of pandemic coronavirus and subsequent rise in awareness among people for hygiene and improved sanitation is further likely to propel the demand in the future.
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Pulp and Paper Industry accounts for the highest Hydrogen Peroxide Demand market share owing to its popular application as a strong bleaching agent and for recycling applications. While on one hand, the digital revolution has reduced the overall demand for printing paper, population growth and rising people’s awareness towards maintaining personal hygiene has pushed up the production of hygienic paper goods such as diapers and tissue paper. Players anticipate a significant rise in the demand for paper and board from packaging sector, further fueled by the soaring e-commerce industry and a change in people’s food consumption habits.
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Other major application of Hydrogen Peroxide contributing to its impressive CAGR is its use in disinfectant chemicals. Owing to its remarkable anti-bacterial properties, Hydrogen Peroxide is one of the chemicals flashing on headlines these days as the health experts across several countries battle to contain the spread of novel coronavirus which sparked in the Wuhan province of China and soon infected 210 countries across the globe. Governments across several countries, in their unprecedented efforts to control contagion, are opting to spray Hydrogen Peroxide based surface disinfectants in high-risk public areas, such as in hospitals, care homes, banks and other essential services. Researchers of the US National Institutes of Health have recently reported the use of vaporized Hydrogen Peroxide to decontaminate medical-use respirators which can then be reused up to three times without affecting the equipment’s performance. Moreover, researchers and medical centers across the globe are also testing the chemical to decontaminate N95 masks, to combat the potential shortages considering the soaring masks demand during the pandemic. The global Hydrogen Peroxide market report has recorded a rise of about 11 per cent in the global Hydrogen Peroxide demand, by volume, in-line with strong gains in the chemical’s demand outlook since the outbreak of Covid-19.
Evonik Industries AG, Solvay S.A., Arkema S.A., FMC Corporation, Mitsubishi Gas Chemical Company, Santoku Chemical Industries Co., Ltd., Nouryon, Kemira Oyj, Hansol Chemical Co. Ltd., Chang Chun Petrochemical Co., Ltd, OCI COMPANY Ltd., National Peroxide Limited etc., are some of the leading players operating in the Global Hydrogen Peroxide market. Anticipating strong boost in the global Hydrogen Peroxide market, several companies are looking forward to capacity expansions and acquisitions to get a strong foothold in the Hydrogen Peroxide industry. Recently, companies like Mitsubishi Gas Chemical Company, National Peroxide Limited etc. have gone for capacity additions in Hydrogen Peroxide business. While the former has added around 70 KT in United States market, National Peroxide has added around 55 KT in India. Moreover, Mitsubishi Gas Chemical Company has planned to invest $156 million to construct a production facility for industrial Hydrogen Peroxide (IHP) in Taiwan. Evonik’s acquisition of PeroxyChem LLC is yet another big venture into global Hydrogen Peroxide business.
Regionally, Hydrogen Peroxide market has been segmented into various regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. According to ChemAnalyst report, “Global Hydrogen Peroxide Market: Plant Capacity, Production, Demand & Supply, Concentration, Grade, End Use, Sales Channel, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, Asia-Pacific region is the leading region in terms of global Hydrogen Peroxide demand during 2015-2019 and is likely to lead the market during the forecast period. This is attributed to the strong growth in region’s paper consumption, textile production, healthcare and personal care industries. North America and Europe are in league of leading regions generating huge volume demand for the product with huge capital investments in the sector.
“The global demand for Hydrogen Peroxide is strongly driven by industrial growth in the pulp and paper industry and consumption in the disinfectant chemicals industry. Owing to the huge population base and industrial expansions, regions like APAC are experiencing rapid growth in their paper demand and hence house wider scope for Hydrogen Peroxide market growth. Moreover, as healthcare industry eyes on vaporized Hydrogen Peroxide (VHP) for disinfecting used masks, the global Hydrogen Peroxide industry is anticipating a major shift in its demand patterns. However, players believe that lower shelf-life of industrially utilized Hydrogen Peroxide is on of the key reasons that may hinder the growth of global Hydrogen Peroxide market. New players venturing into investment in the cleaning chemicals and pulp and paper sector would help underpin the success of the Hydrogen Peroxide market for the next 6 years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Source: ChemAnalyst
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