Home Speciality Chemicals Global Hydrogen Peroxide Market Size, Top Share, Report to 2031

Hydrogen Peroxide Market

Hydrogen Peroxide Market: Information by Grade (Food Grade, Electronic Grade), Function (Bleaching, Oxidizing), End-User Industry (Pulp and Paper, Healthcare, Personal Care, Textile), and Region — Forecast till 2031

The global hydrogen peroxide market size was valued at USD 2.89 billion in 2022. The market is projected to grow at a CAGR of 5.7 % from USD 3.12 billion in 2023 to USD 4.67 billion by 2031. Hydrogen peroxide is used in various end-user industries, s
Report Code: SRSC1426DR

Market Overview

The global hydrogen peroxide market size was valued at USD 2.89 billion in 2022. The market is projected to grow at a CAGR of 5.7 % from USD 3.12 billion in 2023 to USD 4.67 billion by 2031. Hydrogen peroxide is used in various end-user industries, such as textiles, electronics, healthcare, wastewater treatment, and mining. Therefore, the growth in these industries is expected to boost the hydrogen peroxide market growth during the forecast period. However, the severe risk to human health when exposed to the eye or skin can hamper the market growth.

Hydrogen peroxide is a pale blue chemical compound in its pure form. It is unstable in nature as it decomposes to oxygen and water in an exothermic reaction. It is stored in a weak acidic solution along with a stabilizer as it can cause combustion when in contact with organic materials. It is commonly used as an antiseptic agent to heal infections caused by burns or minor cuts and has strong oxidizing properties and hence is used as a bleaching agent in the paper and pulp industry.

Report Scope

Report Metric Details
Base Year 2022
Study Period 2021-2031
Forecast Period 2023-2031
CAGR 5.7%
Market Size USD 4.67 billion by 2031
Fastest Growing Market Europe
Largest Market Asia Pacific
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Geographies Covered
  • North America
  • Europe
  • APAC
  • Middle East and Africa
Get more information on this report Download Sample Report

Market Dynamics

What are the Primary Factors Driving the Hydrogen Peroxide Market?

Wide-Range of Applications

Numerous industrial, commercial, and domestic applications exist for hydrogen peroxide. It is suitable for paper and textile bleaching due to its potent bleaching capabilities. As an antiseptic and antibacterial agent, it is utilized in healthcare. It performs admirably as a disinfectant and oxidizer in water purification, personal care, home care, and food applications. It is utilized as a superior cleaning agent in the electronics industry. It is also utilized in the manufacturing of detergent bleaches, such as sodium percarbonate and sodium perborate. Consequently, the variety of hydrogen peroxide applications is driving market expansion.

Growing Paper and Pulp Industry

As a bleaching agent, the paper and pulp industry makes substantial use of hydrogen peroxide to produce mechanical, chemical, and recyclable pulps. In these industries, it is also used to whiten pulps optimally. In place of typical bleaching chemicals, hydrogen peroxide is used to re-pulp waste paper since it reduces both bleaching costs and effluent color. In the United States and China, the two largest markets for pulp and paper products, online sales are increasing. This is due in part to the requirement for inventive packaging brought on by the advent of internet shopping, which has enhanced product positioning on store shelves. This rise is a result of the increased demand for both raw materials and recyclable containers.

What are the Main Factors that will Slow Down the Hydrogen Peroxide Market?

Health Concerns Linked with Hydrogen Peroxide

Hydrogen peroxide is responsible for causing severe risks to human health and is carcinogenic. When exposed to the eyes, it can result in permanent vision loss, while skin exposure causes painful blisters, burns, and skin whitening. Therefore, certain stringent regulations have been imposed by agencies such as the Occupational Safety and Health Administration (OSHA) are anticipated to hinder the market growth during the forecast period. Policies implemented by various regulatory agencies such as the Food & Drug Administration (FDA), Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) and Environmental Protection Agency (EPA) concerning its use are also anticipated to restrict the market growth. For instance, the U.S. Food and Drug Administration (FDA) warned consumers not to use highly concentrated hydrogen peroxide, such as 35% food-grade hydrogen peroxide, for medicinal purposes.

What are the Future Opportunities for Hydrogen Peroxide Market?

Growing Adoption of Hydrogen Peroxide in the Food and Electronics Industry

As a bleaching and antibacterial agent, food-grade hydrogen peroxide is utilized in applications such as the production of cheese and instant tea, among others. In addition, it is authorized for use as a sterilizing agent in aseptic packing. As a result, businesses are launching new grades to accommodate shifting market trends. In addition, firms, including Solvay S.A. and Mitsubishi Gas Chemicals Company, invest in the production of ultra-pure grades for electronic applications in China and Taiwan, respectively. High-purity aqueous hydrogen peroxide solutions with an extremely low total organic carbon content are beneficial for cleaning the substrates of electronic components. These solutions are utilized for the treatment of electronic substrates.

Regional Analysis

The global hydrogen peroxide market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.

Asia Pacific Dominates the Global Market

The dominance can be attributed to the prolific growth of various end-user industries such as paper, textile, mining, electronics, and chemicals. The region has the advantage of fast-growing eucalyptus as pulp raw material, and accordingly, invests in new pulp mills, which are expected to boost the market growth. The rising paper consumption in the developing parts of the region and the growing demand for hygiene paper, tissues, and packaging can also propel the demand for hydrogen peroxide. The presence of various hydrogen peroxide manufacturers in Asia-Pacific is also boosting its demand. The local players in this market are investing to tap the potential local market. Asia-Pacific is also recording high demand for electronic-grade hydrogen peroxide due to the presence of high-potential markets like China and Taiwan. As per China's National Integrated Circuit Development Promotion Outline, the Chinese government is planning to increase its investments to support the I.C. manufacturing and design industry which is anticipated to boost the regional market growth.

Europe is expected to witness dynamic growth in the hydrogen peroxide market during the forecast period owing to the increasing requirements for various personal care and cosmetic products. Hydrogen peroxide is used in cosmetics and personal care products due to its oxidizing abilities and antimicrobial properties. The increased emergence of cosmetic manufacturers in the region has led to an increase in the consumption of products, such as hair care formulations, skin care creams, lotions, makeup products, etc. The growing textile industry, which uses this compound as a mild bleaching agent, is also anticipated to propel the market during the forecast period.

Due to the presence of water-borne diseases in North America, the continent is regarded as the leader in the wastewater treatment market. Daily, the United States purifies more than 34 billion gallons of hazardous water for safe consumption by local populations. The removal of phosphate and nitrogen from water sources, together with the oxidation of wastewater, is one of the country's primary requirements, which has led to the significant usage of hydrogen peroxide in the country's industry. Increasing research and development efforts to expand H2O2's specialty and healthcare applications are driving the market's expansion in North America. A novel procedure discovered by the Massachusetts Institute of Technology, for instance, could enable the development of a cost-effective device to create H2O2 and sanitize water supplies, wounds, and food processing surfaces.

The rising use of disinfectants in public places owing to the recent COVID-19 pandemic is driving the growth of hydrogen peroxide. During the pandemic, Dubai municipality announced that they are using the purest form of hydrogen peroxide for the ultimate safety of its people. The growing adoption of fruit and vegetable disinfectants in the UAE is also contributing heavily to the growth of the global market in the region. Rio de Janeiro municipality is now utilizing hydrogen peroxide for water treatment through a collaboration with Solvay.

Regional Growth Insights Download Free Sample

Segmental Analysis

The global market is segmented by grade, function, and end-users.

On the Basis of Grade

Based on grade, the global market is bifurcated into food grade, electronic grade, and industrial grade.

The industrial grade segment is the highest contributor to the market and is expected to grow at a CAGR of xx% during the forecast period. Hydrogen peroxide is utilized in a variety of sectors. Higher concentrations of hydrogen peroxide are used in industry as a bleach for textiles and paper, as an ingredient in rocket fuels, and for the production of foam rubber and organic compounds.

The food grade segment is expected to witness a higher CAGR. Food-grade hydrogen peroxide is characterized as being free of these harmful chemicals and poisonous compounds, which indicates that no additional chemicals, stabilizers, or toxins have been added to the hydrogen peroxide. Generally, food-grade hydrogen peroxide is utilized for cleaning, sanitizing, producing, or heating food goods. The Environmental Protection Agency (EPA) considers hydrogen peroxide (H2o2) to be an effective and safe disinfectant for microbiological pest control.

On the Basis of Function

Based on the function, the global market is bifurcated into sterilizing/disinfecting, bleaching, oxidizing, and extraction.

The bleaching segment is the highest contributor to the market and is expected to grow at a CAGR of xx% during the forecast period. The substance is widely used as a bleaching agent in a variety of industries, including pulp & paper, medical, and textiles. The product is extraordinarily valuable in the medical industry as a dental bleach, for hair bleaching, as a mouthwash, and for preserving oral hygiene. A greater proportion of the material known as bleach is employed in the textile industry, where it is widely used to whiten clothing and remove stains from both synthetic and natural fabrics. In addition to increasing the mechanical qualities of fibers, it is also utilized in the production of fabrics.

The sterilizing/disinfecting segment is expected to grow at a significant rate. This is due to the product's extensive use in the formulation of different cleaning agents and hygiene items. Throughout the pandemic, there was a substantial surge in the need for various disinfection products, including floor cleaners, interior and exterior glass cleaners, as well as hand sanitizers. As a result, the global usage of hydrogen peroxide as a disinfectant increased, and this trend is projected to continue for the foreseeable future.

On the Basis of End-Users

Based on end-users, the global market is bifurcated into pulp and paper, chemical synthesis, healthcare and personal care, food and beverages, textile, wastewater treatment, and electrical and electronics.

The pulp and paper segment is the highest contributor to the market and is expected to grow at a CAGR of xx% during the forecast period. It is used as a versatile bleaching agent in chemical pulp and mechanical pulp bleaching sequences, as well as in paper recycling with printed ink removal. Hydrogen peroxide increases the paper's brightness by emanating a low residue of halogenated compounds and is applied as an exclusive bleaching agent in sulfite pulp brightening. Therefore, the growing pulp and paper industry is projected to boost market growth.

The healthcare and personal care segment is expected to grow at a significant rate. This is a result of the quick production of sanitization products and disinfection items by a number of multinational corporations throughout the world. In light of the global pandemic, the demand for these products will increase significantly over an extended period of time as people become increasingly conscious of the significance of these healthcare necessities in daily life.

Top Key Players of Hydrogen Peroxide Market

  1. Arkema S.A.
  2. Evonik Industries AG
  3. Solvay S.A.
  4. BASF SE
  5. Akzo Nobel N.V.
  6. Kemira Oyj
  7. Hansol Chemical Co Ltd
  8. Mitsubishi Gas Chemical Company Inc.
  9. Aditya Birla Chemicals Limited
  10. Gujarat Alkalies and Chemicals Ltd (GACL)
  11. FMC Corporation
  12.  Kingboard Chemical Holdings Ltd.

Recent Developments

  • May 2022, Solvay S.A. invested in Suanfarma's Cipan manufacturing facility situated in Lisbon to develop its biotechnological capabilities with the support of natural ingredients.
  • May 2022, Solvay S.A. announced the launch of a new renewable materials and biotechnology platform that will focus on producing creative and sustainable solutions for a variety of markets utilizing renewable feedstocks and biotechnology.
  • April 2022, Mitsubishi Gas Chemical Company announced the completion of construction in Thailand for the expansion of its production capacity of semiconductor packages at MGC Electrotechno Co. Ltd

Hydrogen Peroxide Market Segmentations

By Grade

  • Food Grade
  • Electronic Grade
  • Industrial Grade

By Function

  • Bleaching
  • Oxidizing
  • Sterilizing/Disinfecting
  • Extraction
  • Others

By End-Users

  • Pulp and Paper
  • Chemical Synthesis
  • Healthcare and Personal Care
  • Food and Beverages
  • Textile
  • Wastewater Treatment
  • Electrical and Electronics
  • Others

By Regions

  • North America
  • Europe
  • APAC
  • Middle East and Africa

Frequently Asked Questions (FAQs)

What is the growth rate for the Hydrogen Peroxide Market?
Hydrogen Peroxide Market size will grow at approx. CAGR of 5.7% during the forecast period.
Some of the top industry players in global market are, Arkema S.A., Evonik Industries AG, Solvay S.A., BASF SE, Akzo Nobel N.V., Kemira Oyj, Hansol Chemical Co Ltd, Mitsubishi Gas Chemical Company Inc., Aditya Birla Chemicals Limited, Gujarat Alkalies and Chemicals Ltd (GACL), FMC Corporation,  Kingboard Chemical Holdings Ltd., etc.
Asia Pacific has been dominating the Hydrogen Peroxide Market, accounting for the largest share of the market.
The Hydrogen Peroxide Market has seen the most substantial growth rate in Europe.
The global Market report is segmented as follows: By Grade, By Function, By End-Users

We are featured on :