(MENAFN- GlobeNewsWire - Nasdaq) The rising hygiene consciousness amidst people globally is boosting the hydrogen peroxide market.New York, USA, Nov. 19, 2024 (GLOBE NEWSWIRE) -- market Overview:
The global hydrogen peroxide market size is projected to grow from USD 3.31 billion in 2023 to USD 4.97 billion by 2032, at a CAGR of 4.6%, according to a new report by Polaris Market Research.
Hydrogen peroxide is one of the most customary chemical materials that can be encountered in everyday life. It is detected in hair bleaching and medical commodities. It is a chemical compound comprising molecules of hydrogen and water. When hydrogen peroxide is in its unadulterated configuration, it is normally observed as a lucid liquid with a modest pale blue coloration. It has an elevated consistency than water. It is not reserved in glass bottles as the alkali oxides prevalent in the glass tend to generate its decomposition. It is thus reserved in Teflon bottles or paraffin wax-coated plastic bottles.
Key Insights from Report:
The market for hydrogen peroxide is significantly shaped by the compound decaying willingly into water and oxygen, particularly in the existence of heat or catalysts, rendering it both handy and possibly detrimental. The hydrogen peroxide market segmentation is mainly based on grade, function, application, and region. Based on function, the bleaching segment is expected to experience the highest CAGR during the forecast period. By region, the report provides market insights into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
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Hydrogen Peroxide Market Scope:
| Report Attributes | Details |
| Market size value in 2023 | USD 3.31 billion |
| Market size value in 2024 | USD 3.46 billion |
| Revenue forecast in 2032 | USD 4.97 billion |
| CAGR | 4.6% from 2024 to 2032 |
| Base year | 2023 |
| Historical data | 2019-2022 |
| Forecast period | 2024-2032 |
Market's Growth Drivers:
Growing Industrialization : The market is anticipated to grow at a significant CAGR due to growing industrialization globally. Several industries involving textiles, pulp and paper, and chemicals utilize hydrogen peroxide as a bleaching and oxidizing agent. Thus, the augmentation of these industries drives the growing intake of hydrogen peroxide in production procedures, contributing to hydrogen peroxide market growth.
Rise in Water and Sewage Treatment : The market growth is driven by robust demand from water and sewage treatment sectors. It serves as a robust oxidizing agent, productively splintering pollutants, organic matter, and contaminants in water. Its potential to treat both municipal and industrial refuse renders it an alluring option for water treatment prerequisites targeting to encounter administrative standards. Additionally, the growing administrative influence on water quality handling forces several prerequisites to acquire more green, productive treatment methods.
Growing Urbanization : The growing urbanization globally is approximated to push the market. As per the data circulated by the World Bank, 56% of the global population, which is 4.4 billion residents, reside in cities, and this is anticipated to magnify by 2050. Urban regions encounter elevated population bulk, causing an elevated demand for sanitation and hygiene. This elevated concentration of taintlessness in public spaces, residential zones, and commercial institutions drives the usage of productive disinfectants involving hydrogen peroxide to sustain secure ambiance.
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List of Hydrogen Peroxide Market Key Players:
Aditya Birla Chemicals Limited Akzo Nobel N.V. Arkema BASF SE Evonik Industries AG FMC Corporation Gujarat Alkalies and Chemicals Ltd (GACL) Hansol Chemical Co Ltd
Geographical Analysis:
In 2023, Asia Pacific accounted for the largest hydrogen peroxide market share. This is due to speedy industrialization, growing urbanization, and surging population levels. The healthcare sector in nations such as China and India is augmenting speedily, which pushes the demand for hydrogen peroxide as this chemical compound is broadly utilized in the healthcare sector as an emerging disinfectant.
North America is also expected to grow at the highest CAGR during the forecast period. This is due to growing demand from several industries involving pulp and paper, healthcare, and wastewater treatment. The region profits from entrenched industrial establishments and strict administrative directives that focus on security and ecological sustainability.
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Market Segmentation:
By Grade Outlook:
90% H2O2 5% H2O2 6% to 10% H2O2 3% H2O2
By Function Outlook:
Disinfectant Bleaching Oxidant Others
By Application Outlook:
Pulp & Paper Chemical Synthesis Wastewater Treatment Mining Food & Beverages Personal Care Healthcare Textiles Others
By Regional Outlook:
North America Europe Germany France UK Italy Spain Netherlands Russia Rest of Europe
Asia Pacific China Japan India Malaysia South Korea Indonesia Australia Vietnam Rest of Asia Pacific
Middle East & Africa Saudi Arabia UAE Israel South Africa Rest of the Middle East & Africa
Latin America Mexico Brazil Argentina Rest of Latin America
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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