Hydrogen Peroxide Market to Touch $2,122.1 Million by 2027; Extensive Utilization of H2O2 for Bleaching Applications to Ensure Stable Market Growth

The global hydrogen peroxide market size is projected to reach USD 2,122.1 million by 2027 owing to the heightening need for eco-friendly water purification chemicals in emerging economies, observes Fortune Business Insights™ in its report, titled “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, 2020-2027”. The report states that the value of the global market stood at USD 1,613.8 million in 2019 and is expected to register a CAGR of 3.7% from 2020 to 2027.

The COVID-19 pandemic is anticipated to have a profoundly positive impact on the hydrogen peroxide market growth as the pandemic has sharpened the focus on sanitation and hygiene standards, especially in public places. Since hydrogen peroxide (H2O2) is a common ingredient in disinfectant products, the scope of this market set to widen substantially during and after the pandemic.

Solvay Commences Production at Its New H2O2 Plant in Vietnam

In June 2020, the Belgian chemical company Solvay announced the commencement of production at its recently inaugurated hydrogen peroxide dilution and packing facility in Long An Province, Vietnam. With a capacity to produce 24,000 tons per year, Solvay aims at meeting the burgeoning local demand for global-standard H2O2 for the domestic textile industry as well as other applications. The facility is the company’s first establishment in Vietnam and the supply of high-quality hydrogen peroxide will be facilitated by Solvay’s plant in Thailand, its largest plant yet in the world. The production allows Solvay to steadily expand its presence in the fledgling market of Southeast Asia and partake in the industrialization process in the region. 

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https://www.fortunebusinessinsights.com/hydrogen-peroxide-market-103920

Excellent Benefits of H2O2 in Home Care Applications to Stimulate Growth

Hydrogen peroxide is versatile, safe, and environment-friendly chemical that is widely utilized for household applications. In the kitchen, for instance, H2O2 has proven to be immensely effective in disinfecting cutting boards and counters. Research conducted by the Ohio State University Extension found that undiluted hydrogen peroxide is highly potent in killing E. coli and Salmonella bacteria on hard surfaces such as cleaning counters. Another application of H2O2 which is growing in popularity is the cleaning of toilets. The Centers for Disease Control and Prevention has stated that H2O2 has high efficacy in killing a variety of microorganisms, including viruses and fungi, which make it the perfect solution for sanitizing toilets at home and elsewhere. The chemical can also be used for other household tasks such as washing of vegetables and dishes, eliminating germs from garbage, and shining glass surfaces.   

Strategic Acquisitions by Key Players to Vitalize Competitive Energies

The competitive landscape of this market is receiving a steady infusion of new energies as key players strategically acquire their rivals and tighten their hold on the market. These activities are enabling companies to diversify their offerings and broaden their customer base as well as amplify their international reach. Moreover, companies are also investing in strengthening their local and global distribution networks, especially in emerging economies.

Industry Development:

• February 2020: Evonik announced the successful acquisition of PeroxyChem for USD 640 million, after a Washington court dismissed the Federal Trade Commission’s appeal to block the takeover. PeroxyChem is a leading manufacturer of H2O2 and peracetic acid and Evonik aims at leveraging its specialty products for niche applications.

List of Key Players Covered in the Hydrogen Peroxide Market Report:

• Indian Peroxide Ltd. (India)


• OCI COMPANY Ltd. (South Korea)


• Thai Peroxide Ltd. (Thailand)


• Kemira Oyj (Finland)


• Arkema S.A. (France)


• Solvay S.A. (Belgium)


• Gujarat Alkalies and Chemicals Ltd. (India)


• Nouryan (The Netherlands)


• Hansol Chemical Co. Ltd. (South Korea)


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


• Mitsubishi Gas Chemical Company Inc. (Japan)


• Evonik Industries A.G. (Germany)

Further Report Findings:

• Asia Pacific is expected to dominate the hydrogen peroxide market share during the forecast period owing to the well-established operations of major chemical companies in China, India, and South Korea. The region’s market size in 2019 stood at USD 296.9 million.


• The pulp & paper application segment led the market in 2019 with a share of 48.4% as H2O2 is heavily utilized in the paper industry.


• The disinfectant segment’s 18.5% share in China is expected to grow in the coming years on account of expanding chemical manufacturing activities in the country.

Table of Segmentation: