The Hydrogen peroxide Market is set to grow from its current market value of more than $3.89 billion to over $6.39 billion by 2024; as reported in the latest study by Global Market Insights, Inc.
Rising paper &pulp industry is expected to be the major driver for global hydrogen peroxide market size in the upcoming years. Applications for brightening of deinked papers will favor industry demand, global paper &pulp industry was worth more than USD 550 billion in 2015 and will have a steady growth owing to the increasing flexible packaging material demand in the packaging industry. With growth of electronic commerce market and ease of home delivery system, the demand for flexible packaging will have a healthy growth. Also, growing awareness about usage of recycled papers will boost demand for de-inked recycled papers.
With the commercialization of hydrogen peroxide propylene oxide or HPPO process to produce propylene oxide using HP as raw material, the global hydrogen peroxide market share is forecast to witness a decent growth in the forecast period.
Electronic grade applications for etching of circuit boards that find application in manufacture of semiconductors, will create a decent window of opportunity for the hydrogen peroxide market. Companies such as Solvay and Evonik have commercialized the electronics grade variants with several other under R&D.
However, regulations imposed by OSHA regarding industrial exposure will act as a restraint to hydrogen peroxide market growth. Though they have medicinal uses in a minor concentration, multiple applications report in skin related issues. Stringent regulations by bodies including EPA, FDA and REACH will hinder the market growth in North America and Europe.
To access a sample copy or view the hydrogen peroxide market report in detail along with the table of contents, please click the link below:
Key insights from the report include:
Global hydrogen peroxide market size is forecast to reach USD 6.39 billion by 2024, with estimated gains at 5.7% CAGR.
Paper &pulp industry accounted for around USD 1,550 million of hydrogen peroxide market share in 2015 and will continue to dominate the market throughout the forecast timeframe. This growth is on the account of rising demand of recycled papers and flexible packaging materials.
Chemical applications were worth more than USD 1,300 million in 2015 and will have a healthy growth at over 6% CAGR from 2016 to 2024.
Asia Pacific registered more than USD 2 billion in 2015 and accounted for over 50% of the global hydrogen peroxide market share. Strict regulatory norms in North America and Europe will shift the global market towards APAC.
North America hydrogen peroxide market is anticipated to cross a total revenue of USD 1,000 million by 2024.
Akzo Nobel, Evonik, Arkema, Solvay and Kemira account for significant industry share. Analysts expect the market to consolidate over the next decade.