Hydrogen Peroxide Market Expected to Reach $8.9 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Hydrogen Peroxide Market," The hydrogen peroxide market was valued at $5.37 billion in 2021, and is estimated to reach $8.90 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031.

Hydrogen peroxide is widely used for various personal hygiene and healthcare applications. It is utilized as an antiseptic for minor cuts & burns and as a mouth rinse solution for mouth irritations and removal of mucus. It is  widely used for peracetic acid production, herbicide production, flame retardants, Hydrogen Peroxide to Propylene Oxide (HPPO) process, organic peroxide initiator, and others.

Hydrogen peroxide is extensively used in applications such as pulp & paper, chemical synthesis, wastewater treatment, mining, food and beverage, personal care, healthcare, and textile. Hydrogen peroxide is used to disinfect tools, decolorize hair, and clean the surface. It is used in oral care and gardening. Hydrogen peroxide has therapeutic uses, including chemical, biological, household, and antibacterial & oxidant uses Hydrogen peroxide is generally injected into a wastewater stream in order to control hydrogen sulfide and other odorous compounds associated with treatment of wastewater. It may supplement dissolved oxygen levels in the wastewater to control the additional formation of hydrogen sulfide. Hydrogen peroxide is used throughout the healthcare industry and by consumers for cleaning and disinfection. Used as an antibacterial and oxidant, it is included in over-the-counter (OTC) first aid disinfectants o clean wounds. Further, human hair is bleached with diluted hydrogen peroxide in combination with aqueous ammonia. New blood stains are removed with hydrogen peroxide. H2O2 solution is used as a propellant for torpedoes and submarines, and as an oxidizer for rocket fuel. Hydrogen peroxide is used in aquaculture to reduce the mortality rate caused by various microorganisms. Hydrogen peroxide is a mild disinfectant that can be used on small cuts, abrasions and burns to prevent infection. It can be used as a mouthwash to remove mucus and relieve mild oral illnesses such as fungal infections of plants and cleaning of algae-infested ponds. It is used in the textile sector as an anti-chlorine agent to remove excess chlorine after bleaching. It is widely used in the production of inorganic chemicals such as sodium perborate and sodium percarbonate, which are important components of high-quality detergents.

The increase in demand for pulp & paper globally and the growth in product use in the Hydrogen Peroxide to Propylene Oxide (HPPO) process in propylene oxide production are major factors attributing to this growth. Hydrogen peroxide is utilized as a bleaching agent in the pulp & paper industry. It offers a grade of brightness that is favorable for the high-grade board, magazine papers, and tissue products. It is used in the pulp & paper industry for cellulose bleaching, pulp bleaching, and recycling waste paper (de-inking). It is effective in bleaching recycled pulp. In paper recycling, the removal of printing ink is an essential task when fibers are reused in the manufacturing of tissue grades or printing papers. Fiber brightening can be carried out utilizing the hydrogen peroxide compound. The small amount of hydrogen peroxide can enhance the brightness and prevent alkaline yellowing. Consequently, the surge in demand from pulp & paper industry coupled with growth in pulp & paper industry is predicted to augment the demand for hydrogen peroxide during the forecast period. However, health and environmental hazards associated with hydrogen peroxide pose as major challenge for the market growth. Nevertheless, the growth in use of hydrogen peroxide in wastewater treatment is anticipated to create ample growth opportunities for hydrogen peroxide market in coming years. An increase in demand for wastewater treatment has been witnessed owing to surge in population, urbanization, augmenting manufacturing sector, regulatory requirements, and initiatives by manufacturing industries & state bodies for low waste generation. For instance, according to The Development Bank of Latin America (CAF), over the period of 2010–2030, approx. $80 billion is anticipated to be spent on sewerage infrastructure and $33 billion on wastewater treatment.

On the basis of application, the pulp and paper segment dominated the global hydrogen peroxide market in terms of revenue, in 2021, owing to rise in usage of hydrogen peroxide in industrial applications, as well as the use of hydrogen peroxide as disinfectants, is anticipated to provide enormous development prospects.

By region, Asia-Pacific held the highest share of the global hydrogen peroxide market in 2021 owing to the use of hydrogen peroxide in various industries such as textile, water treatment, power and chemicals, semiconductors, etc. The pulp and paper industry holds the largest share of the end-use segment of the hydrogen peroxide Asia Pacific market due to the widespread use of chemicals to improve gloss and stability.

COVID-19 Analysis:

The COVID-19 pandemic negatively impacted the demand for hydrogen peroxide from a wide range of end-use sectors, including pulp & paper, chemical synthesis, food processing, textile, water & wastewater treatment, and electronics & semiconductor. COVID-19 affected the paper and pulp industry since it uses hydrogen peroxide as a bleaching chemical. It is used as an oxidant in the mining sector. As a result of the pandemic, several industries were compelled to temporarily halt operations, prompting the industry to restrict the use of bleaching chemicals and oxidants, cutting demand for hydrogen peroxide. Rise in demand from the paper and pulp industry, as well as surge in use of hydrogen peroxide as a raw component in the production are expected to drive market growth.

Key findings of the study:

• By application, the others segment is projected to grow at the highest CAGR of 7.4% during the forecast period.
• By application, the pulp and paper segment is expected to dominate the market during the forecast period.
• By region, Asia-Pacific was the highest revenue contributor, and is estimated to grow at a CAGR of 6.0%.
• A comprehensive analysis of the factors that drive and restrain the market growth is provided.
• The qualitative data in this report aims at the market dynamics, trends, and developments in the industry.