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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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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.
List of Key Players Covered in the Hydrogen Peroxide Market Report:
Further Report Findings:
Table of Segmentation:
Value (USD Million) and Volume (Kilo Tons)
Grade, Type, Application and Geography