Hydrogen Peroxide Market is Forecast to Reach 6.92 Million Tonnes by 2030 | ChemAnalyst

Hydrogen Peroxide (H2O2) is a reactive chemical compound which is pale blue and slightly viscous in nature. It contains single oxygen-oxygen bond and possesses oxidizing properties which makes it suitable for various cosmetic and medical uses as a disinfectant and bleaching agent. Hydrogen Peroxide is produced in large chemical plants by a method called anthraquinone process in which hydrogen from methane or natural gas is reacted with oxygen using a hydrogenated catalyst i.e., palladium. Hydrogen Peroxide oxidizing with propylene in the presence of catalyst titanium silicalite-1 (TS-1) is one of the promising technologies known as HPPO process to produce Propylene Oxide which is extensively used in polyurethane industry.

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Hydrogen Peroxide has wide range of applications in Healthcare & cosmetics, detergents & disinfectants and chemical manufacturing due to its highly effective anti-bacterial and anti-viral properties. Furthermore, growing demand of hydrogen peroxide as a bleaching agent in paper and pulp industry and as a disinfectant in healthcare industry is set to increase the demand of Hydrogen Peroxide impelling the global market growth. In sanitization, Hydrogen Peroxide find its applications  as a mild antiseptic to prevent infections. In pulp industries, hydrogen peroxide is widely used for bleaching of chemical, mechanical and recycled pulp as it increases the brightness levels, stability and reduces the manufacturing cost. Production of propylene oxide from hydrogen peroxide is used in the manufacturing of polyurethane foams which is highly demanded by its major end use industries including furniture, automotive, electronics and construction.

Global economic slowdown due to COVID 19 impacted the manufacturing industries during the first half of 2020. Industries were lacking the feedstock due to supply chain disruption and global plant outages initially in 2020. High restrictions on sales and trade caused the sudden decline in production and manufacturing, which affected the Hydrogen peroxide market worldwide. limited supply to various healthcare and pulp industries due to lockdown hindered the production of hydrogen peroxide.

Regionally, Asia pacific has emerged to be the largest producer of paper and pulp worldwide. Rising per capita income in countries like China, North America, Europe and India has increased the consumer spending in consumer durable products which is increasing the demand of Hydrogen Peroxide market in the region. Due to increased demand of H2O2 in chemical manufacturing industry,  China is projected to dominate the Global Hydrogen peroxide market.

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Major Players:

• 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.

“Being linked to the downstream application such as Healthcare, cosmetics, disinfectants etc, the global Hydrogen Peroxide industry has shown a robust growth alongside growing population and changing consumer preference. It is  forecasted  that India is going to become the world's fifth largest consumer market by 2025. In addition, growing per capita income globally poised a stronger outlook to the country’s acetone demand. The nationwide lockdown affected the supply chain logistics and caused immediate shortage of raw materials hence increased the prices of Hydrogen Peroxide. Meanwhile,  China serves as the key growth region as well with sufficiently installed capacities. With new competitors emerging across the Asian acetone market, it is extremely important to keep an eye which region will grab the biggest market share in the upcoming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.