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The increasing demand for hydrogen peroxide in the semiconductor sector are boosting the Hydrogen Peroxide market.
NEW YORK CITY, NEW YORK, UNITED STATES, September 26, 2022 /EINPresswire.com / -- The Global Hydrogen Peroxide market is forecast to reach USD 6.41 Billion by 2028, according to a new report by Reports and Data. One of the primary factors supporting the growth of the market is the expansion of the e-commerce, food & beverage and pharmaceutical sectors that is resulting in boosting the demand for pulp & paper for packaging. The rising awareness about the impact of undertreated disposed waster on the environment has resulted in the elevated deployment of the compound in water purification. The continuous effort of governments of various nations in this region, like India, on enhancing public hygiene by developing different programs like Swachh Bharat Abhiyan also supports the expansion of the market in this region. The formulation of pragmas like Namami Gange Programme, wherein the emphasis is on rejuvenating National River Ganga, also paves new arenas of application for the compound in this region, which would further contribute to the market growth in this region.
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Key participants include BASF SE, Arkema Group, Dow, Chang Chun Group, Grasim, Evonik Industries AG, Gujarat Alkali and Chemicals Ltd, Guangdong ZhongCheng Chemicals Co. Ltd, Kemira Oyj and Hodogaya Chemical Co. Ltd.
Further key findings from the report suggest
In context to Dilution Type, the 35 percent H2O2 segment is projected to witness a considerable growth rate of 5.6% during the forecast period. The growth rate witnessed by this segment is attributed to the continuous expansion of the food sector and application of the compound in bleaching wheat flour and processing cheese. The COVID-19 pandemic has resulted in an increased emphasis on the sanitation of food products among consumers to minimize the risk of transmission of the virus from contaminated packages. It has resulted in the growing popularity of the compound in sanitization and eliminating microorganisms from food packaging materials.
In regards to End-user, the Pulp & Paper segment held the largest market share of more than 40.0% in 2020. In the pulp & paper industry the compound is used in bleaching of chemical pulp. When the compound is used in pulp & paper bleaching it enhances brightness stability, brightness level and minimizes manufacturing cost.
In regards to Application, the Disinfectant segment is projected to witness a considerable growth rate of 5.9% during the forecast period. The growing awareness about the negative environmental impact of disposing untreated wastewater to water bodies has resulted in the growing demand for the compound in disinfecting the water, wherein it is used to remove organic impurities.
In November 2018, INDIAN PEROXIDE had launched a new hydrogen peroxide plant in Dahej, Gujarat. The company is also planning to investment Rs. 750 Cr in next 3–5 years along with expansion of the capacity for other chemical units that would support the new H2O2 plant.
In February 2020, Mitsubishi Gas Chemical, one of the mentionable market player, has revealed that the company is prepared to construct a new production facility for industrial hydrogen peroxide in Taiwan. For this expansion the company has an investment of USD 156.6 million.
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Dilution Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
6 to 10% H2O2
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
End-user Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
Pulp & Paper
Food & Beverage
Cosmetics & Healthcare
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
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Key Questions answered by the Report:
What is the expected year-on-year growth of the during the forecast period?
What key trends are expected influence revenue growth of the market going ahead?
Which region is expected to account for largest revenue share over the forecast period?
Which key companies are profiled in the report?
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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