Hydrogen Peroxide Market growth driven by expanding application...

Hydrogen Peroxide Market growth driven by expanding application scope

Posted 2024-06-25 11:27:35

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A key player in various industries, hydrogen peroxide finds extensive application across segments such as healthcare, pulp & paper, textiles, wastewater treatment and others. It exhibits strong bleaching properties and acts as an oxidizing, sterilizing and disinfecting agent. In the healthcare sector, hydrogen peroxide is predominantly used for wound cleansing and skin disinfecting. Its bactericidal and fungicidal properties make it well-suited for sterilizing medical devices and equipment.

The Global Hydrogen Peroxide Market is estimated to be valued at US$ 6290.14 Mn in 2024 and is expected to exhibit a CAGR of 4.6% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Hydrogen Peroxide Market are Novartis AG, Mylan Laboratories Inc., Actavis Generics UK Limited, Sun Pharmaceutical Industries Ltd., Aurobindo Pharma Limited, Zentiva a.s., Sandoz International GmbH, Dr. Reddy's Laboratories Ltd., Teva Pharmaceutical Industries Ltd., and Accord Healthcare Limited. The demand for hydrogen peroxide is growing significantly owing to its increasing usage across industries such as healthcare, textiles, wastewater treatment and pulp & paper. With numerous applications and environmental-friendly nature, the market is witnessing expansion globally with new plants coming up in regions like Asia Pacific and Middle East & Africa.

Market drivers

One of the primary drivers propelling the hydrogen peroxide market growth is its increasing demand from the healthcare sector. As an antiseptic and disinfectant agent, hydrogen peroxide finds extensive usage in hospitals, clinics and other medical facilities for wound disinfection and sterilization purposes. It effectively eliminates microorganisms such as bacteria and viruses, thereby curbing the risk of infections. Additionally, stringent regulations regarding wastewater treatment across many countries are favoring market growth. Hydrogen peroxide serves as an effective oxidizing agent to remove toxins from industrial waste and help meet environmental discharge standards.

Impact of geopolitical situation on Hydrogen Peroxide market growth and geographical regions.

Geographical regions with highest hydrogen peroxide market value

North America currently holds the largest share of the global hydrogen peroxide market in terms of value. This is primarily attributed to factors such as presence of major manufacturing facilities of leading players and abundant raw material availability in the region. Additionally, the well-established pharmaceutical, pulp & paper and wastewater treatment industries have propelled the demand for hydrogen peroxide in the US and Canada. Market revenues from North America are estimated to be over US$ 2500 Mn by 2024 driven by increasing demand from end-use applications such as homecare and personal care.

Fastest growing region for the hydrogen peroxide market