(MENAFN- The Express Wire)Posted on Nov 15 2021 11:02 AM
"Top companies covered in the Hydrogen Peroxide Market are Gujarat Alkalies and Chemicals Ltd. , Nouryan , Hansol Chemical Co. Ltd. Taekwang Industrial Co., Ltd., Mitsubishi Gas Chemical Company Inc. , Evonik Industries A.G. , Indian Peroxide Ltd. , OCI COMPANY Ltd., Thai Peroxide Ltd. and more players profiled in Hydrogen Peroxide market research report"
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%), 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.
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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.
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)
- Nouryan (The Netherlands)
- 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)
- KemiraOyj (Finland)
- Arkema S.A. (France)
- Solvay S.A. (Belgium)
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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.
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.
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