San Francisco, CA -- (SBWIRE) -- 05/23/2019 -- Global Hydrogen Peroxide Market: Overview
Hydrogen peroxide (H2O2) is a chemical compound constituted of hydrogen and oxygen and has robust oxidizing properties. The wide range of applications of hydrogen peroxide mainly stem from its ability to oxidize a variety of organic and inorganic compounds and the amazing germicidal properties. The end users of the hydrogen peroxide market comprise a wide spectrum of industries such as paper and pulp, chemicals, pharmaceuticals, personal care and cosmetics, electronics and semiconductor, and agriculture.
Over the past few years, H2O2 has been widely used as a bleaching agent in the paper and pulp industry; large demand for paper in making various packaging solutions worldwide has triggered the use of H2O2 in the industry. Other major applications of hydrogen peroxide are its use in cleaning and etching of printed circuit boards (PCB). The market is propelled by a large number of emerging applications in the electronics and semiconductor industry, mining, metal extraction, oil and paints industry, and niche applications such as sterilization of surgical devices.
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Global Hydrogen Peroxide Market: Trends
The hydrogen peroxide market is primarily driven by its wide ranging applications in three major industries: paper and pulp, electronics and semiconductor, and agriculture. The soaring demand for H2O2 in the pharmaceutical industry and for cleaning dental and surgical instruments is stimulated by its characteristic of being an excellent disinfectant. Extensive use of H2O2 in waste water treatment, municipal as well as industrial, and increasing application as a soil disinfectant to improve crop yield are the crucial factors expected to spur the demand for H2O2 in major regions.
A large number of application of paper and pulp in various end-use industries has catapulted the demand for H2O2 for manufacturing paper. Since hydrogen peroxide does not emit harmful effluents and emissions, it is widely preferred in waste water treatment and pollution measures. As a result, favorable environmental regulations in developing regions are expected to stimulate the demand for hydrogen peroxide for wastewater treatments and in remediation of soil and groundwater contaminated by organic and inorganic compounds.
Global Hydrogen Peroxide Market: Market Potential
Advances in production technology and niche applications in the electronic and semiconductor industry are expected to open exciting opportunities for leading manufacturers, especially in emerging markets. Producers in developing regions, mostly with active support from the respective governments, are bringing process improvements and opting for advanced technologies, which has helped them expand the capacity of the units. Consequently, various end-use industries spanning different nations get consistent supply of hydrogen peroxide, thus leading to a rapid evolution of the global market. This has helped the emerging players to consolidate their market presence in major geographic regions.
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Recently, Solvay S.A., a global chemical company based in Belgium, partnered with United Chemical Company (UCC) to evaluate the construction of a new hydrogen peroxide production facility in Kazakhstan. The unit is anticipated to provide sustained supply of H2O2 to various Kazakh companies and several consumers in countries of Central Asia. UCC has been commissioned with active support from the Kazakhstan Government and the positive results of the evaluation are likely to boost the economy of the nation. The Belgian company claims that the new technology, called on-site myH2O2, makes the production process safe, viable, and reliable. Various patented innovations in production technology are expected to ensure a consistent supply of the compound to large remote consumers of hydrogen peroxide.
Global Hydrogen Peroxide Market: Regional Outlook
Asia Pacific is expected to witness tremendous growth along the forecast period. The regional growth is primarily attributed to robust growth in the paper and pulp industry in countries such as India, China, and other emerging nations in South Asia. The impressive growth of the textile industry, coupled with rising applications of hydrogen peroxide as an environment-friendly bleaching agent and the continuous growth of electronics industry in Asia Pacific, has boosted the regional market.
Furthermore, the soaring demand for H2O2 to be used as a disinfectant in wastewater treatment to address the pressing need for clean drinking water is expected to propel the regional market. Coupled with this, growing spending of a large number of consumers on sanitation products has stimulated the demand for hydrogen peroxide in personal care products. In addition, increasing use of H2O2 as a raw material to manufacture propylene oxide has led to the commercialization of the hydrogen peroxide propylene oxide (HPPO) process, further fuelling the market in Asia Pacific.
Global Hydrogen Peroxide Market: Competitive Analysis
The global hydrogen peroxide market is slightly consolidated with prominent players adopting mergers and acquisitions as a key strategy to consolidate their market shares in various regions. Major companies vying for a significant share in the global hydrogen peroxide market include Solvay S.A., Kemira Oyj, The Dow Chemical Company, Akzo Nobel, Hansol Chemical Co. Ltd., Mitsubishi, Arkema, Aditya Birla Chemicals Ltd., and Evonik Industries AG.
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