Hydrogen Peroxide Market Massive Industry Development & Upcoming Trends Forecast 2027,Fortune Business Insights™
The
global hydrogen peroxide market size is projected to reach USD
2,122.1 million by 2027, exhibiting a CAGR of 3.7% during the forecast period.
Soaring demand for disinfectant products amid the COVID-19 pandemic will be a
powerful growth driver for this market, states Fortune Business Insights™ in
its report, titled “Hydrogen Peroxide Market Size, Share & Industry
Analysis, By Grade (<35% and >35%), By Type (Disinfectant, Bleaching
Agent and Others), By Application (Pulp & Paper, Chemical Synthesis, Textile
Bleaching, Water Purification, Home & Personal Care and Specialty
Applications), and Regional Forecast, 2020-2027”.
The
coronavirus pandemic has reaffirmed the importance of hygiene and sanitation,
since the virus has been known to spread through infected surfaces as well as
through the air. As a result, the demand for disinfectants has suddenly spiked.
The Clorox Company, for example, reported in June 2020 that the shipment of its
disinfectant products was at an all-time high, with the demand for some
products spiking by more than 500%. Similarly, to meet the surging demand, Zep
Inc. announced in June that it will be increasing the production of
disinfectants and sanitizers at its plants in Texas and Georgia. Hydrogen
peroxide (H2O2) is a widely used compound in a variety of disinfectants owing
to its fungicidal, sporicidal, virucidal, and bactericidal properties. Thus,
the COVID-19 pandemic will provide a major boost to the growth of this market.
According to the report, the global
market value stood at USD 1,613.8 million 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 Discharge Worldwide to Heighten Demand for H2O2
Wastewater management and treatment
has become a serious challenge to governments and other regional and
international bodies. According to UN Water, globally, approximately 80% of the
wastewater is released into the ecosystem without being treated. As a result,
around 1.8 billion people around the world are forced to use water contaminated
with a wide variety of pollutants, putting them at risk of developing diseases
such as cholera and typhoid. Hydrogen peroxide provides an optimal solution to
the problem of wastewater treatment as this compound is extremely versatile and
environment-friendly. It has strong oxidizing properties, which make it
suitable for destroying different kinds of pollutants present in water.
Furthermore,partial oxidation of toxic compounds using hydrogen peroxide can
raise their biodegradability quotient, thus reducing their toxicity. Thus, the
dire need to effectively treat wastewater is likely to fuel the hydrogen
peroxide market growth.
Browse
Summary of This Research:
https://www.fortunebusinessinsights.com/hydrogen-peroxide-market-103920
Regional
Insights
Asia
Pacific to Dominate the Market with Support from Excellent Industrial Growth
With a market size of USD 296.9
million in 2019, Asia Pacific is poised to hold a commanding position in the
hydrogen peroxide market share during the forecast period. The prime growth
accelerator for this region is the prolific growth of various industries such
as paper, textile, and chemicals, where H2O2 is extensively utilized. The most
promising industry among these is the paper industry, with Asia Pacific holding
the apex position in terms of paper & paperboard consumption, as per the
Food and Agriculture Organization (FAO) estimates.
Competitive
Landscape
Tactical
Investments in Boosting & Expanding Production Capacity to Spur Competition
Key players in this market are
making massively investing in strengthening their production capacities to
consolidate their regional market presence and expand their operations beyond
their home turf. In addition, companies are also aggressively enhancing R&D
activities to cater to the growing diversity of demand for H2O2 applications.
Industry
Developments:
·
September 2020: Solvay launched a multi-year
initiative to evolve its industry footprint called the “Peroxides for the
Future (P4F)” program. Under this program, Solvay will curb its H2O2 production
in Western Europe from January 2021 and boost capacity at its onsite satellite
plants.
·
February 2020: Mitsubishi Gas Chemical Company
announced the construction of a new facility to produce industrial H2O2 in
Taiwan. With an investment of USD 156.6 million, the company aims at advancing
its super-pure hydrogen peroxide business to bolster its operations in the
semiconductor industry.
List
of the Key Companies Profiled in the Hydrogen Peroxide Market Report:
·
Gujarat Alkalies and Chemicals Ltd. (India)
·
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)
Browse
Summary of This Research:
https://www.fortunebusinessinsights.com/hydrogen-peroxide-market-103920
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