Hydrogen Peroxide Market is Estimated to Witness High Growth
Hydrogen peroxide is a colorless liquid with a sharp odor. It is commonly used as a bleaching agent or disinfectant. Hydrogen peroxide is utilized in various industrial applications such as paper & pulp bleaching, chemical synthesis, electronics & semiconductors, food processing, home & personal care products, water & wastewater treatment, and others. It helps kill or inhibit the growth of bacteria, viruses, yeasts, fungi and spores. With growing environmental concerns and stringent regulations on industrial wastewater treatment, the adoption of hydrogen peroxide has increased considerably over the past few years for water and wastewater treatment applications.
The global hydrogen peroxide Market is estimated to be valued at US$ 5460.19 Mn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The demand for hydrogen peroxide in water and wastewater treatment applications is expected to present a lucrative opportunity over the forecast period. Hydrogen peroxide acts as an effective disinfectant for removing pathogens from industrial and municipal wastewater. It helps reduce biological oxygen demand, chemical oxygen demand and total suspended solids, thereby improving the quality of wastewater. With growing population and rapid industrialization, the volumes of industrial and municipal wastewater have increased substantially. This has boosted the adoption of advanced wastewater treatment technologies using disinfectants like hydrogen peroxide. Stringent regulations regarding wastewater discharge standards are also compelling industries and municipalities to implement efficient wastewater treatment solutions, which is estimated to drive the hydrogen peroxide market growth over the coming years.
Porter’s Analysis
Threat of new entrants: Low economies of scale in production and capital requirements present barriers to entry.
Bargaining power of buyers: Large buyers can negotiate lower prices, however hydrogen peroxide has few substitutes limiting this power.
Bargaining power of suppliers: Suppliers of raw materials have some power given specialized requirements, but competition ensures reasonable pricing.
Threat of new substitutes: Limited direct substitutes exist currently, but R&D into sustainable alternatives could emerge.
Competitive rivalry: Competition is based on pricing, quality, and customer service due to low product differentiation between suppliers.
SWOT Analysis
Strength: Hydrogen peroxide has widespread applications and replacing it would require significant R&D investments.
Weakness: Production requires specialized facilities and equipment, resulting in high fixed costs. Fluctuating raw material prices also impact costs.
Opportunity: Growth of end-use industries such as paper & pulp and wastewater treatment provide opportunities. Use as disinfectant has also increased post-COVID.
Threats: Stringent environmental regulations regarding production and disposal. Alternative chemical technologies pose future threat.
Key Takeaways
The Global Hydrogen Peroxide Market Growth is expected to witness high over the forecast period of 2023 to 2030 supported by increasing demand from the paper & pulp and wastewater treatment industries. The global hydrogen peroxide Market is estimated to be valued at US$ 5460.19 Mn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030.
Regionally, Asia Pacific dominates the global hydrogen peroxide market and is expected to continue its dominance over the forecast period. Factors such as the presence of a large manufacturing base, growing end-use industries and economies, and environmental regulations driving the need for wastewater treatment in countries such as China, Japan and India are contributing to the region's large market size.
Key players operating in the hydrogen peroxide market are Solvay S.A, Evonik Industries AG, Arkema S.A., PeroxyChem LLC, Mitsubishi Gas Chemical Company, and Kemira OYJ. Solvay S.A is one of the leading producers of hydrogen peroxide globally with a strong production and distribution network across major markets. Evonik Industries AG is another major player focusing on manufacturing hydrogen peroxide using the anthraquinone auto-oxidation process for both chlorine dioxide generation and other end uses.
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