Product Code: 57240
The Global Hydrogen Peroxide Market was valued at 5,187.32 kilotons in 2020 and the market is projected to register a CAGR of over 3% during the forecast period (2021-2026). The market was negatively impacted by COVID-19 in 2020. Hydrogen peroxide is mainly consumed by the paper & pulp industry as a bleaching agent and the mining industry as an oxidant. Owing to the pandemic scenario, these end-user industries were on a temporary halt, which led the industry to minimize the use of bleaching agents and oxidants, thus creating a negative impact on the demand for hydrogen peroxide.
- Over the short term, rising demand from the paper and pulp industry and increasing consumption of hydrogen peroxide as raw material for propylene oxide production (HPPO Process) are expected to drive the market growth.
- Health hazards associated with long-term exposure to hydrogen peroxide and unfavorable conditions arising due to the impact of COVID-19 are hindering the market's growth.
- Newer opportunities for hydrogen peroxide in wastewater treatment and growth of the electronic industry in developing Asian countries are likely to create opportunities for the market in the coming years.
- Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.
Key Market Trends
Increasing Demand from Pulp and Paper Industry
- Hydrogen peroxide is extensively used in the paper and pulp industry as a bleaching agent to produce various types of pulps include mechanical, chemical, and recyclable pulps and is also used to optimal whiten the pulps for these industries.
- Hydrogen peroxide also finds its application in re-pulping of wastepaper over other bleaching agents, as it aids in reducing the bleaching costs and decreases the effluent color.
- In 2018, the global market volume for hydrogen peroxide in the pulp and paper industry was 2,200.93 kilotons and is estimated to reach about 2,824 kilotons by 2024, with a CAGR of about 4%, which will stimulate the demand for hydrogen peroxide in the coming years.
- The European pulp and paper industry has a production capacity of 43.65 million tons in the year 2019, with a growth rate of 1.49% compared to the previous year, which in turn stimulates the market demand for hydrogen peroxide.
- The Confideration of European Paper Industries (CEPI) countries has produced 85.1 million tons of paper and board in the year 2020, with a decline rate of 5% compared to the previous year, which in turn negatively impacts the market demand for hydrogen peroxide.
- The United States, Asia-Pacific, and Europe are expected to witness strong demand for hydrogen peroxide in applications relating to the paper and pulp industry.
- The aforementioned factors are likely to increase the demand for hydrogen peroxide over the forecast period.
China to dominate the Market in Asia-Pacific Region
- In Asia-Pacific, China is the largest economy in terms of GDP. China is one of the fastest-growing economies globally and almost all the end-user industries have been growing, owing to the rising population, living standards, and per capita income.
- China is a hub for chemical processing, accounting for a major chunk of the chemicals produced, globally. With the increasing demand for various chemicals globally, the demand for hydrogen peroxide from this sector is projected to rise during the forecast period.
- China is the largest pulp and paper producing nation in the world. The industry is modern and highly mechanized, and the labor is inexpensive. Due to government afforestation initiatives, forest cover is increasing in China. While this is a positive sign, there are concerns regarding social and environmental issues. As the largest wood importer in the world, with complex and opaque supply chains, significant challenges are also present.
- China has produced about 125 million tons of cardboard and paper in the year 2019, with a growth rate of about 4% compared to the previous year, which in turn stimulates the regional market demand for hydrogen peroxide.
- The electronics industry in China is the largest in the world. Electronic products, such as smartphones, OLED TVs, tablets, etc., have the highest growth in the market in the consumer electronics segment. With the increase in disposable income of middle-class population, the demand for electronic products is projected to rise in the near future, thereby driving the hydrogen peroxide market.
- Due to all such factors, the market for hydrogen peroxide in the region is expected to have a steady growth during the forecast period.
The global hydrogen peroxide market is consolidated in nature, with the top five players occupying nearly 70% of the market. The majority of companies are focusing on expanding their production capacities, primarily in the Asia-Pacific region. Some of the major players in the market include Solvay, Evonik Industries AG, MITSUBISHI GAS CHEMICAL COMPANY, INC., Arkema, and Kemira, among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
TABLE OF CONTENTS
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Drivers
- 4.1.1 Rising Demand from the Paper and Pulp Industry
- 4.1.2 Increasing Consumption of Hydrogen Peroxide as Raw Material for Propylene Oxide Production (HPPO Process)
- 4.2 Restraints
- 4.2.1 Health Hazards Associated with Long-term Exposure of Hydrogen Peroxide
- 4.2.2 Unfavorable Conditions Arising due to the Impact of COVID-19
- 4.3 Industry Value-Chain Analysis
- 4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
- 4.5 Technological Snapshot
- 4.5.1 Production Process
- 4.5.2 Technology Licensing and Patent Analysis
- 4.6 Trade Analysis
- 4.7 Price Analysis
- 4.8 Supply Scenario
- 4.9 Regulatory Policies
5 MARKET SEGMENTATION
- 5.1 Product Function
- 5.1.1 Disinfectant
- 5.1.2 Bleaching
- 5.1.3 Oxidant
- 5.1.4 Other Product Functions
- 5.2 End-user Industry
- 5.2.1 Pulp and Paper
- 5.2.2 Chemical Synthesis
- 5.2.3 Wastewater Treatment
- 5.2.4 Mining
- 5.2.5 Food and Beverage
- 5.2.6 Cosmetics and Healthcare
- 5.2.7 Textiles
- 5.2.8 Other End-user Industries
- 5.3 Geography
- 5.3.1 Asia-Pacific
- 18.104.22.168 China
- 22.214.171.124 India
- 126.96.36.199 Japan
- 188.8.131.52 South Korea
- 184.108.40.206 ASEAN Countries
- 220.127.116.11 Rest of Asia-Pacific
- 5.3.2 North America
- 18.104.22.168 United States
- 22.214.171.124 Canada
- 126.96.36.199 Mexico
- 188.8.131.52 Rest of North America
- 5.3.3 Europe
- 184.108.40.206 Germany
- 220.127.116.11 United Kingdom
- 18.104.22.168 Italy
- 22.214.171.124 France
- 126.96.36.199 Nordic Countries
- 188.8.131.52 Rest of Europe
- 5.3.4 South America
- 184.108.40.206 Brazil
- 220.127.116.11 Argentina
- 18.104.22.168 Rest of South America
- 5.3.5 Middle-East and Africa
- 22.214.171.124 Saudi Arabia
- 126.96.36.199 South Africa
- 188.8.131.52 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis
- 6.3 Strategies Adopted by Leading Players
- 6.4 Company Profiles
- 6.4.1 Arkema
- 6.4.2 BASF SE
- 6.4.3 Chang Chun Group
- 6.4.4 Dow
- 6.4.5 Evonik Industries AG
- 6.4.6 Grasim
- 6.4.7 Guangdong ZhongCheng Chemicals Co. Ltd
- 6.4.8 Gujarat Alkali and Chemicals Ltd
- 6.4.9 Hodogaya Chemical Co. Ltd
- 6.4.10 Kemira
- 6.4.11 Kingboard Holdings Limited
- 6.4.12 Merck KGaA
- 6.4.13 MITSUBISHI GAS CHEMICAL COMPANY, INC.
- 6.4.14 National Peroxide Ltd
- 6.4.15 Nouryon
- 6.4.16 PeroxyChem
- 6.4.17 Solvay
- 6.4.18 Qingdao LaSheng Co. Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Newer Opportunities for Hydrogen Peroxide in Wastewater Treatment
- 7.2 Growth of the Electronic Industry in Developing Asian Countries