Industrial Hydrogen Peroxide Market is projected to reach USD 4.28 Billion by 2026, at a CAGR of 5.53%, from 2016 to 2026. Industrial hydrogen peroxide has functions such as, bleaching, oxidizing, sterilizing/disinfecting, propulsion, etching, cleaning and extraction. These functions drive the industrial hydrogen peroxide market globally.
Industrial hydrogen peroxide products find usage in several end-use industries such as, pulp & paper, chemical synthesis, healthcare & personal care, food processing, textile, water & wastewater treatment, electronics & semiconductor and others (mining and metallurgy, transportation and recycling).
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Increasing demand from the pulp & paper industry is driving the industrial hydrogen peroxide market. The pulp & paper industry is estimated to hold the largest share of the industrial hydrogen peroxide market. Industrial hydrogen peroxide is preferred for bleaching of pulp & paper as it is environment friendly, and reduces manufacturing cost because it is the only one chemical that is required. In addition to this, industrial hydrogen peroxide increases brightness levels and improves the brightness stability of pulp & paper.
The bleaching function is estimated to be the largest function for industrial hydrogen peroxide. The function is growing due to the increasing demand for industrial hydrogen peroxide from the pulp & paper and textile industries. Use of industrial hydrogen peroxide for bleaching of pulp & paper in order to achieve a very high level of brightness suitable for magazine papers, board and tissue products, has increased the importance of the bleaching function of industrial hydrogen peroxide. In addition to this, industrial hydrogen peroxide is preferred for bleaching of cotton and cotton-blended knitted fabrics to obtain a high degree of whiteness after the removal of the catalyst.
In 2015, the Asia-Pacific region accounted for the largest share of the global industrial hydrogen peroxide market and is expected to grow at the highest rate from 2016 to 2026. China is currently the largest market in the Asia-Pacific region for industrial hydrogen peroxide and is expected to remain the largest market during the forecast period. In addition, China is the fastest-growing market for industrial hydrogen peroxide. Increasing demand from the pulp & paper, textile and chemical industries and the growing need for environment friendly and chlorine-free bleaches drives the industrial hydrogen peroxide market in these countries.
Key companies operating in the industrial hydrogen peroxide market are, AkzoNobel N.V. (Netherlands), BASF SE (Germany), The Dow Chemical Company (U.S.), Solvay SA (Belgium), Evonik Industries AG (Germany), Ecolab Inc. (U.S.), Kemira Oyj (Finland), Arkema SA (France), Merck Group (Germany), and Mitsubishi Gas Chemical Company, Inc. (Japan).
Industrial Hydrogen Peroxide Market : Major Applications
- Pulp & Paper
- Chemical Synthesis
- Healthcare & Personal Care
- Food Processing
- Textile
- Water & Wastewater Treatment
- Electronics & Semiconductor
- Others (Mining and Metallurgy, Transportation, and Recycling)
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