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Hydrogen Peroxide Market Size, Share & COVID-19 Impact Analysis, By Grade (<35% and >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, 2021-2028

Region : Global | Format: PDF | Report ID: FBI103920



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The global hydrogen peroxide market size was USD 1.64 billion in 2020. The global impact of COVID-19 has been staggering, with the product witnessing a positive demand across all regions amid the pandemic. Based on our analysis, the global market exhibited an incline of 2.2% in 2020. The market is projected to grow from USD 1.69 billion in 2021 to USD 2.20 billion in 2028 at a CAGR of 3.8% during the 2021-2028 period. The sudden decline in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.

Versatility in terms of applications fuels the demand for hydrogen peroxide in the paper and pulp industry, chemical manufacturing, the textile industry, water treatment, home care, cosmetics, and specialty applications such as food and beverages, electronics, and pharmaceuticals. In order to tap these opportunities, leading players operating in the global market are investing to increase their production capacity. For instance, in July 2019, Solvay S.A. raised its production capacities in Belgium, Germany, Finland, and the Middle East to meet growing demand from its consumers in Europe, Middle East & Africa (EMEA) region.

COVID-19 Pandemic to Surge the Demand for Chemical Disinfectants

The rapid surge in need for chemical disinfectants amid the COVID-19 outbreak has increased the demand to prepare disinfectant solutions. It has been proven effective in bactericidal and virucidal activities. Therefore, it is in high demand in the healthcare industry, with healthcare professionals pulling all stops to combat the COVID-19 pandemic. Moreover, in April 2020, the U.S. Food and Drug Administration (FDA) issued the second emergency use authorization to decontaminate respirators for reuse. The FDA will allow the decontamination of N-95 respirators by using vaporized hydrogen peroxide sterilizers.


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Increasing Adoption of H2O2 in Food and Electronic Applications to Drive Growth

Food-grade hydrogen peroxide is used as a bleaching and antimicrobial agent in applications such as cheese manufacturing, instant tea, and others. Moreover, it is also approved as a sterilizing agent in aseptic packaging. Therefore, companies are introducing new grades to meet the changing market trends. For instance, Arkema S.A. launched ‘Valsterane S-HP,’ with 25% and 35% concentration for spray aseptic packaging in May 2018. Moreover, companies such as Solvay S.A. and Mitsubishi Gas Chemicals Company invest in manufacturing super-pure grades for electronic applications in China and Taiwan, respectively.


Wide Applicability of the Chemical to Boost Market Growth

Hydrogen Peroxide offers multiple functions in different industrial, commercial, and household applications. Strong bleaching properties make it suitable for paper and textile bleaching. In healthcare, it is used as an antiseptic and antimicrobial agent. It acts as an excellent disinfecting and oxidizing agent in water purification, home care, personal care, and food applications. In electronics, it is used as a high-quality cleaning agent. It is also used in the production of detergent bleaches such as sodium percarbonate and sodium perborate. Therefore, such versatility in terms of applicability is fueling the hydrogen peroxide market growth.


Potential Health Hazards May Hinder Product Adoption

Due to its strong oxidizing nature, the chemical can be corrosive to the respiratory system, eyes, and skin. If not handled carefully, prolonged exposure irritates the skin & the eyes and causes hair bleaching. Moreover, it is not compatible with most raw materials such as copper alloys or heavy metals, leading to self-accelerated thermal decomposition. Therefore, it should be carefully stored and handled to avoid potential health hazards.


By Grade Analysis

>35% Segment to Hold the Largest Share in the Global Market

Based on grade, the global market is categorized into different concentrations of hydrogen peroxide and is marketed according to their applications. In general, less than 35% of lower concentrations are used in home care products, personal care products, and specialty applications. Higher concentrations of more than 35% are generally used in paper, textile, chemical, and wastewater treatment applications. Pure grades or more than 90-95% concentrations are used as fuel in rocket propellants. High adoption of products with more than 35% concentration to obtain optimized results is the key factor driving the growth of this segment.

By Type Analysis

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Bleaching Agent Segment to Lead the Market Share

Based on type, the global market is classified into disinfectants, bleaching agents, and others. The chemical offers high bleaching effects at reasonable costs and keeps the fiber quality intact. Furthermore, it also provides the benefit of alkaline extraction with bleaching in paper and textile manufacturing. Single-stage bleaching can be possible in short-term bleaching processes such as cotton bleaching. This process can also help to obtain stable and higher whiteness. Besides, no unpleasant smell is produced, and its environment-friendly nature makes it the ideal bleaching agent for paper and textiles. Moreover, the product is an excellent disinfectant that has the potential to combat virucidal activities. Therefore, with increasing awareness about self-hygiene, the demand for disinfectant solutions such as H2O2 is expected to increase in the foreseeable future.   

By Application Analysis

Pulp & Paper Segment to Account for the Largest Share of the Global Market

On the basis of application, the global market is segmented into pulp & paper, chemical synthesis, textile bleaching, water purification, home & personal care, and specialty applications. Pulp & paper industries utilize the chemical as an ideal bleaching agent for chemical, mechanical, and recycled pulp. It improves the paper quality and lowers production costs by increasing production yield. Moreover, its eco-friendly nature plays an important role in developing sustainable solutions in the paper recycling industry. The rising demand for high-quality paper for packaging and sanitary applications is expected to boost the market's growth during the forecast period. According to the Food & Agricultural Organization (FAO), paperboard, the wrapping & packaging paper, and sanitary tissue segments account for more than 60% share in the global paper products every year.


Asia Pacific Hydrogen Peroxide Market Size, 2020 (USD Billion)

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On account of favorable growth of end-use industries such as paper, textiles, and chemicals, among others, Asia Pacific led the market share (value & volume) in 2019. According to the Food and Agricultural Organization (FAO), Asia Pacific is the largest producer and consumer of paper & paperboard globally and accounts for more than 45% share in the global paper industry. Moreover, the flourishing textile industry in China, India, Bangladesh, Vietnam, and Indonesia creates a huge demand for hydrogen peroxide as a bleaching agent. According to the India Brand Equity Foundation, fiber production in India was 1.44 million tons in FY2019 and increased to 1.60 million tons in F.Y. 2020.

Europe is the second-largest consumer of hydrogen peroxide in the world, followed by North America. Owing to the high presence of paper, textile, water purification, home care, and personal care industries, Germany is a prime contributor to the market's growth in Europe. Moreover, the strong presence of leading players such as Solvay S.A., Evonik Industries A.G., and Arkema S.A. creates a competitive environment for this region's growth.

Increasing research & development activities to extend applications of H2O2 in specialty and healthcare applications is driving the growth of the market in North America. For instance, in 2019, a new process developed by the Massachusetts Institute of Technology could lead to the development of a cost-effective device to produce H2O2 and sterilize water supplies, wounds, or even food preparation surfaces.

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Owing to the significant growth of end-use industries, Latin America and the Middle East & Africa are expected to indicate high growth during the forecast period. Latin America is projected to register the second-fastest growth in the global market, followed by Africa.   


Key Players to Focus on Expanding Their Existing Production Capacities

With increasing demand and utilization of highly versatile chemicals, key manufacturers are investing in the expansion of their production capacities globally. For instance, Solvay S.A., a global leader in peroxide technologies, has heavily invested in its production sites in Europe, Asia, and the Middle East in the past ten years. With increasing global demand, the company aims to strengthen its market reach and improve distribution networks to serve its customers better. Other key players are also focusing on extending their footprints with additional production capacities.


  • Solvay S.A. (Belgium)

  • Evonik Industries A.G. (Germany)

  • Arkema S.A. (France)

  • Mitsubishi Gas Chemical Company Inc. (Japan)

  • Kemira Oyj (Finland)

  • Taekwang Industrial Co., Ltd. (South Korea)

  • Thai Peroxide Ltd. (Thailand)

  • Hansol Chemical Co. Ltd. (South Korea)

  • OCI COMPANY Ltd. (South Korea)

  • Nouryon (Netherlands)

  • Indian Peroxide Ltd. (India)

  • Gujarat Alkalies and Chemicals Ltd. (India)


  • April 2020: Gujarat Alkalies and Chemicals announced the commencement of partial operations of polyaluminum chloride and hydrogen peroxide plants at Dahej.

  • June 2020: Nouryon announced the development of the world-class state-of-art manufacturing facility at the current operating site of Ningbo, China, to produce two key intermediates for its organic peroxide business.


An Infographic Representation of Hydrogen Peroxide Market

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The global hydrogen peroxide market research report provides both qualitative & quantitative analysis and insights into the global market. Quantitative insights include the global market sizing in terms of value (USD billion) & volume (kilo tons) across each segment, sub-segment, and region profiled in the scope of the study. Also, the report covers market share analysis and growth rates of the segments, sub-segments, and key countries across each region. Qualitative insight covers the elaborative market analysis of drivers, restraints, growth opportunities, key trends related to the market. The competitive landscape section covers detailed company profiling of the key players operating in this market.

Report Scope & Segmentation



Study Period


Base Year


Estimated Year


Forecast Period


Historical Period



  Value (USD Billion) and Volume (Kilo Tons)


  Grade, Type, Application, and Geography

By Grade

  • <35%

  • >35%

By Type

  • Disinfectant

  • Bleaching Agent

  • Others

By Application

  • Pulp & Paper

  • Chemical Synthesis

  • Textile Bleaching

  • Water Purification

  • Home & Personal Care

  • Specialty Applications

By Region

  • North America (By Grade, By Type, By Application)

    • U.S. (By Type)

    • Canada (By Type)

  • Europe (By Grade, By Type, By Application)

    • Germany (By Type)

    • U.K. (By Type)

    • France (By Type)

    • Italy (By Type)

    • Rest of Europe (By Type)

  • Asia Pacific (By Grade, By Type, By Application)

    • China (By Type)

    • India (By Type)

    • Japan (By Type)

    • ASEAN (By Type)

    • Rest of Asia Pacific (By Type)

  • Latin America (By Grade, By Type, By Application)

    • Brazil (By Type)

    • Mexico (By Type)

    • Rest of Latin America (By Type)

  • The Middle East & Africa (By Grade, By Type, By Application)

    • Middle East (By Type)

    • Africa (By Type)

Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 1.64 billion in 2020 and is projected to reach USD 2.20 billion by 2028.

The global market is expected to grow at a compounded annual growth rate (CAGR) of 3.8% during the forecast period (2021-2028).

The bleaching agent segment is expected to be the leading application segment in the market during the forecast period.

The key factors driving the market growth are various benefits and increasing demand for the same in home & personal care products.

Solvay S.A. (Belgium), Evonik Industries A.G. (Germany), Arkema S.A. (France), Mitsubishi Gas Chemical Company Inc. (Japan), Kemira Oyj (Finland), Taekwang Industrial Co., Ltd. (South Korea), Thai Peroxide Ltd. (Thailand), Hansol Chemical Co. Ltd. (South Korea), OCI COMPANY Ltd. (South Korea), Nouryan (The Netherlands), Indian Peroxide Ltd. (India), Gujarat Alkalies and Chemicals Ltd. (India) are the leading players in the global market.

Asia Pacific dominated the global market in 2020.

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