The global hydrogen peroxide market is estimated to be valued at US$ 5460.19 Mn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: Hydrogen peroxide has strong disinfectant and bleaching properties which makes it ideal for use in various industries like healthcare, paper and pulp, chemicals etc. It is a cost effective and environment-friendly oxidizing agent. The chemical is easily available globally.
Weakness: Hydrogen peroxide is volatile and chemically unstable in its pure form. Handling and transportation requires specialized equipment and safety measures which increases costs. Prolonged exposure can damage human skin and eyes.
Opportunity: Growing demand from the healthcare sector for disinfectants and sterilization offers significant opportunities. Rising focus on clean water globally presents scope for expanding water treatment applications of hydrogen peroxide. Strict environmental regulations are driving replacement of chlorine with hydrogen peroxide based products in the pulp and paper industry.
Threats: Presence of effective alternative disinfectants and bleaching agents poses competition risks. Fluctuations in raw material prices impacts hydrogen peroxide production costs. Strict safety regulations in developed markets increase compliance costs for manufacturers.
Key Takeaways
The Global Hydrogen Peroxide Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 5460.19 Mn in 2023, growing at a CAGR of 4.6% through 2030.
Regional analysis: Asia Pacific dominates the global market currently and is expected to maintain its lead through 2030. Rising demand from water treatment, pharmaceuticals, and pulp & paper applications drives the region’s growth. China accounts for over one third of global hydrogen peroxide demand supported by a huge manufacturing base. Europe is the second largest consumer due to stringent environmental norms favoring hydrogen peroxide in wastewater treatment and pulp bleaching.
Key players analysis: Key players operating in the hydrogen peroxide market are Solvay SA, Evonik Industries AG, Arkema SA, Permascand A/S, and Taekwang Industrial Co. Ltd. Solvay is the global market leader with a strong production footprint across Asia Pacific, Europe and Americas. Evonik has substantial revenue share supported by innovative product offerings like high concentration (over 90%) hydrogen peroxide grades.
Explore more information on this topic, Please visit –
https://www.ukwebwire.com/hydrogen-peroxide-market-size-and-trends-analysis/
Explore more trending article related this topic –
Arabic
Français
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian