Hydrogen Peroxide Market Report by Technology, Industry Share and Size Expansion to 2027 | Fortune Business Insights™
The global hydrogen peroxide market sizeis projected to reach USD 2,122.1 million by 2027, exhibitinga CAGR of 3.7% during the forecast period. Soaring demand for disinfectantproducts amid the COVID-19 pandemic will be a powerful growth driver for thismarket, states Fortune Business Insights™ in its report, titled “HydrogenPeroxide Market Size, Share & COVID-19 Impact Analysis, By Grade (<35%and >35%), By Type (Disinfectant, Bleaching Agent and Others), ByApplication (Pulp & Paper, Chemical Synthesis, Textile Bleaching, WaterPurification, Home & Personal Care and Specialty Applications), andRegional Forecast, 2020-2027”. The coronavirus pandemic hasreaffirmed the importance of hygiene and sanitation since the virus has beenknown to spread through infected surfaces as well as through the air. As aresult, the demand for disinfectants has suddenly spiked. The Clorox Company,for example, reported in June 2020 that the shipment of its disinfectantproducts was at an all-time high, with the demand for some products spiking bymore than 500%.
Similarly, to meet the surging demand,Zep Inc. announced in June that it will be increasing the production ofdisinfectants and sanitizers at its plants in Texas and Georgia. Hydrogenperoxide (H2O2) is a widely used compound in a variety of disinfectants owingto its fungicidal, sporicidal, virucidal, and bactericidal properties. Thus, theCOVID-19 pandemic will provide a major boost to the growth of this market.
According to the report, the global market value stood at USD 1,613.8million in 2019. The report also offers the following:
- Actionable research into the various drivers, trends, constraints, and opportunities shaping the market;
- In-depth analysis of each market segment;
- Comprehensive insights into the regional developments influencing the market; and
- Microscopic evaluation of the growth strategies adopted by the key market players.
Market Driver
Growing Volume of Wastewater DischargeWorldwide to Heighten Demand for H2O2
Wastewater management and treatment hasbecome a serious challenge to governments and other regional and internationalbodies. According to UN Water, globally, approximately 80% of the wastewater isreleased into the ecosystem without being treated. As a result, around 1.8billion people around the world are forced to use water contaminated with awide variety of pollutants, putting them at risk of developing diseases such ascholera and typhoid. Hydrogen peroxide provides an optimal solution to theproblem of wastewater treatment as this compound is extremely versatile andenvironment-friendly. It has strong oxidizing properties, which make itsuitable for destroying different kinds of pollutants present in water.
Furthermore, partial oxidation of toxic compounds using hydrogen peroxide canraise their biodegradability quotient, thus reducing their toxicity. Thus, thedire need to effectively treat wastewater is likely to fuel the hydrogenperoxide market growth.
Regional Insights
Asia Pacific to Dominate the Marketwith Support from Excellent Industrial Growth
With a market size of USD 296.9 millionin 2019, Asia Pacific is poised to hold a commanding position in the hydrogenperoxide market share during the forecast period. The prime growth acceleratorfor this region is the prolific growth of various industries such as paper,textile, and chemicals, where H2O2 is extensively utilized. The most promisingindustry among these is the paper industry, with Asia Pacific holding the apexposition in terms of paper & paperboard consumption, as per the Food and AgricultureOrganization (FAO) estimates.
Competitive Landscape
Tactical Investments in Boosting &Expanding Production Capacity to Spur Competition
Key players in this market are makingmassively investing in strengthening their production capacities to consolidatetheir regional market presence and expand their operations beyond their hometurf. In addition, companies are also aggressively enhancing R&D activitiesto cater to the growing diversity of demand for H2O2 applications.
Industry Developments:
September 2020: Solvay launched a multi-year initiative to evolveits industry footprint called the “Peroxides for the Future (P4F)” program.Under this program, Solvay will curb its H2O2 production in Western Europe fromJanuary 2021 and boost capacity at its onsite satellite plants.
February 2020: Mitsubishi Gas Chemical Company announced theconstruction of a new facility to produce industrial H2O2 in Taiwan. With aninvestment of USD 156.6 million, the company aims at advancing its super-purehydrogen peroxide business to bolster its operations in the semiconductorindustry.
List of the Leading Companies Profiledin the Global Hydrogen Peroxide Market are:
- Gujarat Alkalies and Chemicals Ltd. (India)
- Nouryan (The Netherlands)
- Hansol Chemical Co. Ltd. (South Korea)
- Taekwang Industrial Co., Ltd. (South Korea)
- Mitsubishi Gas Chemical Company Inc. (Japan)
- Evonik Industries A.G. (Germany)
- Indian Peroxide Ltd. (India)
- OCI COMPANY Ltd. (South Korea)
- Thai Peroxide Ltd. (Thailand)
- Kemira Oyj (Finland)
- Arkema S.A. (France)
- Solvay S.A. (Belgium)
Browse Detailed Summary of ResearchReport with TOC:
https://www.fortunebusinessinsights.com/hydrogen-peroxide-market-103920
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Trends
- Key Insights
- Key Insights – For Major Countries
- Key Developments
- Regulatory Scenario
- PEST Analysis
- Production Overview
- Trade Flow Analysis
- Pricing Analysis
- COVID-19 Impact Analysis
- Supply Chain Challenges
- Steps Taken by Government/Companies to combat COVID-19
- Potential Opportunities due to COVID-19 Outbreak
TOC Continued…!
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