The global hydrogen peroxide market is experiencing robust growth, driven by increasing demand across industries such as pulp & paper, textiles, healthcare, and wastewater treatment. Hydrogen peroxide (H₂O₂) is widely used as a bleaching, oxidizing, and disinfecting agent due to its environmentally friendly nature, as it decomposes into water and oxygen without leaving harmful residues.
Market Overview
According to Fortune Business Insights, The global hydrogen peroxide market was valued at USD 1.82 billion in 2023 and is expected to grow from USD 1.89 billion in 2024 to USD 2.56 billion by 2032, registering a CAGR of 3.8% during the forecast period. Asia Pacific emerged as the leading regional market, accounting for 45.05% of the global share in 2023.
The growing versatility of hydrogen peroxide across multiple industries is a key factor driving market expansion. It is extensively used in pulp and paper production, chemical manufacturing, textiles, water treatment, home care products, cosmetics, and various specialty sectors, including food and beverages, electronics, and pharmaceuticals. To capitalize on these opportunities, major market players are actively investing in capacity expansion. For example, in July 2019, Solvay S.A. increased its production capacity across Belgium, Germany, Finland, and the Middle East to meet the rising demand from customers across the Europe, Middle East, and Africa (EMEA) region.
Request a FREE Sample Copy: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/hydrogen-peroxide-market-103920
Key Market Drivers
1. Growing Demand in Pulp and Paper Industry
Hydrogen peroxide is a key bleaching agent in the pulp and paper industry. The growing demand for recycled paper and sustainable bleaching processes has significantly boosted its consumption globally.
2. Expansion in Wastewater Treatment Applications
Rising concerns about water pollution and stringent environmental regulations have increased the use of hydrogen peroxide for wastewater treatment. It helps in the oxidation of pollutants and enhances water purification efficiency.
3. Increasing Use in the Healthcare and Food Sectors
The compound’s strong disinfectant and sterilizing properties make it a preferred choice in healthcare facilities and food processing industries, particularly after the COVID-19 pandemic.
4. Rising Focus on Green Chemistry
As industries shift toward sustainable and non-toxic chemical solutions, hydrogen peroxide’s environmentally friendly profile positions it as a preferred alternative to chlorine-based oxidants.
Market Segmentation
By Grade
<5% Hydrogen Peroxide
35% Hydrogen Peroxide
50% Hydrogen Peroxide
Others
By Application
Pulp & Paper
Textiles
Chemicals
Water & Wastewater Treatment
Electronics
Healthcare
Food Processing
Others
By Region
North America: Driven by strong industrial and healthcare applications in the U.S. and Canada.
Europe: Growth supported by stringent environmental policies and the adoption of green chemicals.
Asia Pacific: Dominates the market due to large-scale paper manufacturing and textile industries in China, India, and Japan.
Latin America & Middle East & Africa: Emerging markets driven by growing industrialization and infrastructure development.
Regional Insights
Asia Pacific holds the largest share of the global hydrogen peroxide market, accounting for over XX% in 2024, due to robust demand from the pulp & paper and chemical sectors. China remains the leading producer and consumer, supported by favorable government policies and low production costs. North America and Europe are expected to witness steady growth driven by sustainability trends and wastewater treatment initiatives.
Key Market Players
Leading companies in the hydrogen peroxide market include:
Solvay S.A.
Evonik Industries AG
Arkema S.A.
Mitsubishi Gas Chemical Company, Inc.
Taekwang Industrial Co., Ltd.
Kemira Oyj
OCI Company Ltd.
National Peroxide Limited
These players focus on capacity expansions, technological advancements, and eco-friendly production methods to strengthen their global footprint.
Recent Developments
Solvay expanded its hydrogen peroxide production capacity in Asia to meet rising demand from electronics and semiconductor industries.
Evonik introduced high-purity hydrogen peroxide grades for use in pharmaceuticals and food processing.
Arkema invested in sustainable hydrogen peroxide production technologies to reduce carbon emissions.
Information Source: https://www.fortunebusinessinsights.com/hydrogen-peroxide-market-103920
The hydrogen peroxide market is projected to witness substantial growth by 2032 due to increased adoption in environmental applications, healthcare sterilization, and green chemical manufacturing. The trend toward sustainable industrial processes and advanced oxidation technologies (AOT) will further drive market expansion.
The global hydrogen peroxide market is set for steady growth through 2032, supported by its wide-ranging applications and eco-friendly benefits. As industries prioritize sustainable and efficient chemical solutions, hydrogen peroxide will continue to play a pivotal role in achieving cleaner and greener industrial operations.
KEY INDUSTRY DEVELOPMENTS
- January 2024: Solvay and Huatai announced plans to expand their hydrogen peroxide production capacity in China. The decision to expand their production capacity was taken considering the growing demand for hydrogen peroxide in the photovoltaic sector, where it is used as a cleaning agent in the production of photovoltaic cells. As a part of the expansion plan, the joint venture aims to produce 48,000 tons/year of photovoltaic-grade hydrogen peroxide by 2025.