Hydrogen peroxide market has been witnessing strong growth over the past few years on account of increasing demand from paper & pulp industries. This trend is expected to continue over the forecast period. Additionally, demand for hydrogen peroxide is anticipated to grow on account of growing application scope in the chemical industry over the next six years. In addition, increasing use of hydrogen peroxide in pharmaceutical and personal care products is likely to drive its market over the projected period.
End-use industries of hydrogen peroxide include paper & pulp, chemicals, pharmaceuticals, personal care and cosmetics, electronics and agriculture. Additionally, hydrogen peroxide is employed in niche applications as a disinfectant, bleaching agent, environmental protection agent, purification of waste water. Increasing demand from these niche applications is likely to fuel hydrogen peroxide market growth over the forecast period.
Paper & pulp industry was the largest end-use application segment of hydrogen peroxide over the past few years and trend is expected to continue over the forecast period. Increasing demand for paper & pulp across various industries including packaging, commercial sectors and pharmaceuticals is anticipated to drive hydrogen peroxide market growth over the next six years. Increasing application scope of hydrogen peroxide in chemical industry as an oxidising agent is likely to propel its growth in this sector. In addition, increasing demand for hydrogen peroxide from personal care and cleaning products including bleaching, sterilization, toothpastes, sanitizer, mouth washes and hair dyes is also likely to fuel market growth over the projected period. Rising application scope of hydrogen peroxide in agriculture for improving crop yield is anticipated to drive its demand. In addition, hydrogen peroxide is used as cleaning agent in electronic industry. Growth of electronic industry especially in developing countries including India and China is anticipated to open new opportunities for hydrogen peroxide in the near future.
Europe was the largest market for hydrogen peroxide in terms of production followed by North America on account of high number of manufacturing units in the regions. Increasing demand from paper & pulp industries in North America is anticipated to boost hydrogen peroxide market over the next six years. Asia Pacific is expected to witness high growth on account of high demand from its various end-use industries.
Key players present in the hydrogen peroxide market include National Peroxide Limited, Evonik industries AG, The Dow chemical Company, Hansol Chemical Co. Ltd., Chang Chun Petrochemical Co. Ltd., Arkema S.A. and BASF SE.
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