(MENAFN- GlobeNewsWire - Nasdaq) London, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Primarily driven by the eco-friendly nature of hydrogen peroxide, it is projected that the global hydrogen peroxide market will see robust expansion in revenue between 2022 and 2026. A new Fairfield Market Research study forecasts promising growth in adoption of hydrogen peroxide for a range of industrial applications. In 2020, the market registered the revenue of around US$3.9 Bn and is expected to reach US$6.6 Bn toward the end of 2026 . The reports states that the hydrogen peroxide market will gain significantly from the functional versatility, and environmental sustainability in long term. Hydrogen peroxide has been increasingly finding application as a powerful oxidizer, and bleaching agent, which promotes adoption across the various industry verticals like food safety, electronics, pulp processing, and aeronautics. This according to the report will drive the growth of hydrogen peroxide through the end of forecast period.
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Key Research Insights
Hydrogen peroxide market is poised for 7.3% growth over 2022 – 2026 Hydrogen peroxide of 35% -70% grade continues to be preferred among end users Asia Pacific will remain the preeminent market for hydrogen peroxide manufacturers, accounting for more than 50% market share
Insights into Segmental Analysis
While Pulp & paper, chemical synthesis, textile, and water treatment remain the key consumer industries generating significant revenue to hydrogen peroxide market, the report points to the ascending profitability of electronics industry. Opportunities abound in electronics as semiconductor industry has been unlocking new windows of opportunities for participants of the hydrogen peroxide market. Hydrogen peroxide continues to be a widely preferred cleaning agent across semiconductor industry. It has been a popular etchant used during PCB printing. Moreover, the rise of 5G technology is also likely to create a conducive environment for hydrogen peroxide producers worldwide. The report further discusses the other key application areas, including water treatment, food and beverages, and aquaculture. In terms of the grade of hydrogen peroxide, high purity grade is estimated to demonstrate around 5.3% growth in demand through 2026. However, the 35%-70% grade retains dominance with around 3/4th market share by the end of forecast period.
Key Report Highlights
The unprecedented growth of semiconductor industry will strongly favour hydrogen peroxide market growth China remains the world's top producer and consumer in hydrogen peroxide market Solvay has been the global leader in terms of hydrogen peroxide supply
Insights into Regional Analysis
Through the end of 2026, hydrogen peroxide market in Asia Pacific that currently represents around 50% of the overall market revenue will most likely exhibit more than 5% growth. While the report attributes this to pulp and paper industry's expansion, it identifies China as the epicenter of growth across the region. will most likely remain the epicentre of growth. Asia's strongly thriving textile industry is also likely to offer a significant impetus to hydrogen peroxide sales during the period of projection. Market growth will however be the fastest in the Middle East & Africa, says the report. On the other side, mature markets, i.e., North America, and Europe remain stable on the back of the traditional application areas like chemical synthesis, and pulp and paper.
Key Companies in Global Hydrogen Peroxide Market
Solvay S.A., Arkema S.A., Evonik Industries AG, Mitsubishi Gas Chemical Company, and Nouryon Holding B.V. constitute the leading companies profiled in the global hydrogen peroxide market report. The market remains dominated by the European players, says the report.
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REPORT SCOPE
| Report Attributes | Details |
| Base Year | 2021 | |
| Forecast Year | 2022 - 2026 |
| Market Size in 2020 | US$3.9 Bn |
| Estimated Market Size in 2026 | US$6.6 Bn |
| CAGR | 7.3% | |
| Key Players | Solvay S.A., Arkema S.A., Evonik Industries AG, Mitsubishi Gas Chemical Company, Nouryon Holding B.V. |
Market Segmentation
Product Coverage
Upto 35% 35% to 70% Above 70%
Application Coverage
Pulp & Paper Chemical Synthesis Electronics Textiles Water Treatment Mining Cosmetics Food Packaging Misc. (Propulsion Systems, Defence, etc.)
Geographical Coverage
North America Europe Latin America Middle East & Africa Asia Pacific
Leading Companies
Solvay S.A. Evonik Industries AG Arkema S.A. Nouryon Holdings B.V. Mitsubishi Gas Chemical Company Inc. Kemira Oyj Thai Peroxide Company Limited Taekwang Industrial Co, Ltd. Hansol Chemical Co. Ltd. Gujarat Alkalies and Chemicals Limited
Report Inclusions
Market Estimates and Forecast Market Dynamics Industry Trends Competition Landscape Product-wise Analysis Application-wise Analysis Region-wise Analysis Country-wise Analysis Key Trends Analysis COVID-19 Impact Analysis
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