Hydrogen Peroxide Market Outlook 2031
- The global hydrogen peroxide market was valued at US$ 2.6 Bn in 2020
- It is estimated to expand at a CAGR of 5.8% from 2021 to 2031
- The global hydrogen peroxide market is expected to reach the value of US$ 4.9 Bn by the end of 2031
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Analysts’ Viewpoint on Hydrogen Peroxide Market Scenario
The hydrogen peroxide market is booming after the threatening pandemic. The market is expected to witness potential growth and success at the global level due to rising application in the paper & pulp industry. In addition, the growing application of hydrogen peroxide in various end-use industries such as chemical, mining, and wastewater treatment due to their eco-friendly nature is creating business opportunities for the market players. In order to take potential measures to increase production, researchers and stakeholders in the hydrogen peroxide market should join forces to fulfill the demand from consumers. However, health hazards and safety concerns associated with hydrogen peroxide are likely to hamper the growth of the global hydrogen peroxide market. The high amount of concentrated hydrogen peroxide, when it comes in contact with skin and eyes, can cause skin irritation, eye burns, redness, etc. Manufacturing companies must try to increase efforts to overcome challenges in the hydrogen peroxide market.
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Unique Properties of Hydrogen Peroxide Boost Market Growth
Hydrogen peroxide is known to be an unstable compound in the presence of a catalyst. It is typically stored with a stabilizer in a weakly acidic solution. Hydrogen peroxide can be formed in the body of mammals at the time of reduction of oxygen directly in a two-electron transfer reaction. Hydrogen peroxide is a combination of oxygen and hydrogen, and widely used across various end-use industries. The use of hydrogen peroxide is also used as a bleaching and oxidizing agent in the paper & pulp industry due to its efficient bleaching properties. The hydrogen peroxide compound is suitable for various applications due to its unique properties. Hydrogen peroxide possesses antiseptic properties; hence, it can be widely used in the health care industry. Hydrogen peroxide is also used in personal hygiene and treatment of skin for minor cuts & burns. The increasing use of hydrogen peroxide as a mouth rinse solution for the removal of mucus and various mouth irritations is driving the demand.
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Paper & Pulp Industry Major Growth Driver of Hydrogen Peroxide Market
The hydrogen peroxide market is significantly driven by the rising application in the paper & pulp application segment. Hydrogen peroxide is used as a bleaching agent in the paper & pulp industry. It offers a grade of brightness that is favorable for high-grade magazine papers, board, and tissue products. The increasing usage of paper in packaging and personal care industries across the globe is fueling the expansion of the hydrogen peroxide market.
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Hydrogen peroxide is used in the paper & pulp industry for delignification and bleaching of cellulose, pulp bleaching, and re-cycling waste paper (de-inking). It is found to be effective in bleaching recycled pulp. In paper recycling, the removal of printing ink is an important task when fibers are reused in the production of tissue grades or printing papers. Fiber brightening can be carried out using the hydrogen peroxide compound. Small amount of hydrogen peroxide can improve the brightness and prevent alkaline yellowing.
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Hydrogen Peroxide Market to Witness Gains in Asian Countries
Asia Pacific accounts for the largest share of the global hydrogen peroxide market. Awareness about the increasing applications of hydrogen peroxide in various industries is boosting the global market in Asia Pacific. The hydrogen peroxide market is growing rapidly in Asian countries such as India and China. Factors responsible for major market share are growth & development in industries, along with rapid urbanization. The increasing demand for hydrogen peroxide in paper & pulp industries is accelerating market growth in Asia Pacific countries. The rising demand for hydrogen peroxide in the chemical industry is contributing to revenue growth and lucrative business opportunities for manufacturers in the hydrogen peroxide market during COVID-19 crisis. Manufacturers operating in the hydrogen peroxide market are marking their presence in the global hydrogen peroxide market by catering to different end-use industries.
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