Hydrogen Peroxide Market Growth at a CAGR of 5.01% by 2031 | Skyquest Technology

WESTFORD, MASSACHUSETTS, UNITED STATES, July 16, 2024 /EINPresswire.com/ -- Hydrogen Peroxide Market size was valued at USD 3.16 billion in 2022 and is poised to grow from USD 3.32 billion in 2023 to USD 4.90 billion by 2031, growing at a CAGR of 5.01% during the forecast period (2024-2031).

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Hydrogen peroxide comes under the group of simple peroxide chemicals. Every type of organism has this substance and is a well-documented constituent of living cells. These compounds occur naturally and are extremely reactive because of their strong oxidizing features. Hydrogen peroxide is an extremely versatile and eco-friendly compound. They have also become a popular choice because of their extensive availability and ease of usage. In the past few years many sectors have started adopting hydrogen peroxide due to its strong oxidizing and bleaching qualities making it useful for pulp processing, food safety, electronics, and aeronautics. The demand for global hydrogen peroxide market will rise rapidly because of its versatility and sustainable nature.

High Demand from Pulp and Paper Industry Driving the Hydrogen Peroxide Market

Hydrogen peroxide finds application in several industries such as pulp & paper, textiles, health care, and personal care. Demand from diverse sectors is growing in the hydrogen peroxide market. The pulp and paper industry are a major consumer. Hydrogen peroxide is essential for whitening wood chips, a papermaking step. Increasing literacy and urbanization are fueling paper product demand, especially in developing nations. This tendency drives pulp and paper hydrogen peroxide demand. Since pulp and paper makers use 50% of hydrogen peroxide generated, any growth in the paper industry indicates an increase in hydrogen peroxide demand.

High Adoption of Disinfectant in the Water Treatment Industry to Experience Market Growth in the Next 4-5 Years

The following are the key Hydrogen Peroxide Trends that will shape the growth of the market in the next 5 years

The demand for hydrogen peroxide in water treatment systems has been rising due to its benefits as a disinfectant, oxidizing agent, and odor mitigator. Water purification relies on it to remove bacteria, decompose organic pollutants, and control odors. Chlorine disinfection byproducts are raising concerns. Thus, hydrogen peroxide is being investigated as a chlorine-free alternative that meets tight environmental requirements. That it breaks down into water and oxygen without leaving residues meets market need for eco-friendly water treatment products. Water treatment technology, especially advanced oxidation procedures, increases hydrogen peroxide demand. Drinking water and industrial sectors necessitate water treatment for safety and cleanliness. Sustainable practices and legislation will make hydrogen peroxide a more common green water treatment alternative.

Strong Bleaching Properties of Hydrogen Peroxide Making it Popular in the Fabrics Industry Boosting Market Growth

Hydrogen Peroxide has many industrial, commercial, and residential uses. The bleaching quality in the solution makes it popular in the paper and fabrics sector. The medical industry uses hydrogen peroxide as an antiseptic and antimicrobial agent. It is an extremely effective disinfectant and oxidizing agent that can be used for water purification, home care, and personal care. It serves as a superior cleaning agent in the field of electronics. Additionally, it is employed in the manufacturing of detergent bleaches, such as sodium percarbonate and sodium perborate. Consequently, the wide range of uses for hydrogen peroxide is driving the growth of the market.

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Growing Awareness for Personal Hygiene Extend the Market in the Next 10 Years

Hydrogen peroxide functions as a disinfectant by degrading essential elements within bacterial cells, and counteracts the functioning of various microorganisms including bacteria, viruses, fungus, and spores. The requirement for surface disinfection is increasing due to heightened awareness of hygiene, health, and safety protocols. Improper sanitation leads to many deaths caused by infectious diseases. This highlights the importance of regular sanitation practices and disinfection. In the healthcare sector, people are more prone to get infections due to which it is crucial to maintain cleanliness by cleaning it regularly with disinfectant.

Latest Headlines on Hydrogen Peroxide Market

In January 2024, the FDA announced vaporized hydrogen peroxide as a medical equipment sterilization solution.

In October 2023, Dow and Evonik launched hydrogen peroxide to a pilot plant in Hanau, Germany to synthesizes propylene glycol from hydrogen peroxide and propylene using the HYPROSYN technique.

Thai Peroxide Co. Ltd. was acquired by Evonik Industries AG in December 2023. The purchase increased the company's peroxide manufacturing, especially hydrogen peroxide.

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Rapid Growth in the Global Hydrogen Peroxide Market for High Requirement for Eco-Friendly and Sustainable Bleaching Chemicals

The global market for hydrogen peroxide is experiencing rapid growth due to its wide range of applications in various industries such as the pulp and paper industry, textile industry, electronics, and healthcare industry. One of the reasons for its rising demand is the increasing need for eco-friendly and sustainable bleaching chemicals due to the protection of the environment. Furthermore, the market expansion has been stimulated by heightened levels of awareness and the endorsement from many governments for the adoption of eco-friendly chemicals. The electronics sector uses hydrogen peroxide in the production of semiconductors and printed circuit boards, which are driving the growing demand for consumer items and technical advancements.

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