April 13, 2024
Hydrogen Peroxide Market

Hydrogen Peroxide Market is accelerating towards green applications by 2030 owing to increasing adoption in green applications and technologies

The Hydrogen Peroxide market is in trends by increasing adoption in green applications and technologies. Hydrogen peroxide is an antiseptic, bleaching agent and oxidizing agent widely used for industrial and household applications. It is available as a clear liquid, white powder or crystals. Some key uses of hydrogen peroxide include cleaning, disinfection, bleaching of paper and textiles, chemical synthesis, wastewater treatment, hair coloring and preservation of cut flowers.

The Global Hydrogen Peroxide Market Demand is estimated to be valued at US$ 6290.14 Mn in 2024 and is expected to exhibit a CAGR of 4.6% over the forecast period 2024 to 2030.

Key Takeaways
Key players operating in the Hydrogen Peroxide are Novartis AG, Mylan Laboratories Inc., Actavis Generics UK Limited, Sun Pharmaceutical Industries Ltd., Aurobindo Pharma Limited, Zentiva a.s., Sandoz International GmbH, Dr. Reddy’s Laboratories Ltd., Teva Pharmaceutical Industries Ltd., and Accord Healthcare Limited. The growing demand for disinfection and wastewater treatment applications is driving the hydrogen peroxide market. Major players are expanding their production facilities globally to cater to the rising needs of end use industries.

Market key trends
One of the major trends in the hydrogen peroxide market is the increasing adoption in green applications and technologies. With growing environmental concerns, hydrogen peroxide is being widely used as an environment-friendly alternative oxidant and cleaner. It is replacing chlorine for bleaching paper and textiles since it produces only water and oxygen as byproducts. Many industries are also utilizing hydrogen peroxide for wastewater treatment before discharging into water bodies. With stringent regulations regarding pollution, the demand for hydrogen peroxide from wastewater treatment applications is expected to increase substantially over the forecast period.

Porter’s Analysis
Threat of new entrants: Hydrogen peroxide manufacturing requires substantial investments in production plants, which limits the threat of new entrants.

Bargaining power of buyers: The market has several global buyers with significant bargaining power over suppliers and manufacturers.

Bargaining power of suppliers: Few manufacturers control the global supply which gives them considerable bargaining power.

Threat of new substitutes: There exist substitutes like sodium hypochlorite and ozone, but hydrogen peroxide remains a cost-effective solution in several industries.

Competitive rivalry: The market has few large players along with local small producers, with intense competition based on product quality, reliability, and pricing.

The geographical regions where the hydrogen peroxide market is concentrated in terms of value are North America and Europe. North America leads due to increasing demand from the paper & pulp sector whereas Europe has stringent environmental regulations boosting demand. Another major region is Asia Pacific, with China being the largest producer and consumer globally. Countries like India are also emerging as high growth markets.

The fastest growing region for the hydrogen peroxide market is Asia Pacific. Countries like China, India, Indonesia, Thailand and Vietnam are witnessing rising demand from water treatment plants as urban populations grow. Increasing use in the textile, electronics and construction industries due to industrialization is also fueling market growth in the Asian region between 2024 to 2030.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it