According to the latest market study released by Technavio, the global hydrogen peroxide market is expected to grow at a CAGR of more than 6% during the forecast period.
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Technavio has published a new report on the global hydrogen peroxide market from 2017-2021. (Graphic: Business Wire)
This research report titled 'Global Hydrogen Peroxide Market 2017-2021' provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global hydrogen peroxide market into the following product segments. They are:
- Pulp and paper
- Textiles
- Wastewater treatment
- Others
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Global hydrogen peroxide market for pulp and paper
In 2016, the global hydrogen peroxide market witnessed a high growth due to the growing demand from the pulp and paper industry. The increasing awareness for the use of recycled papers is expected to drive the demand for de-inked recycled papers.
According to Hitesh Bhatia, a lead analyst at Technavio for specialty chemicals research, "The increase in demand for paper in developing countries such as India, China, and Malaysia is expected to drive the demand for hydrogen peroxide. Increasing preference for eco-friendly paper packaging over plastic packaging solutions will further fuel the growth of the market in regions such as Europe, the Middle East, and South Asia."
Global hydrogen peroxide market for textiles
The global hydrogen peroxide market in the textile industry are based on its bleaching property. A large quantity of hydrogen peroxide is used to manufacture sodium perborate and sodium percarbonate, which are used as bleaching agents in solid and liquid detergents. The global hydrogen peroxide market for the textiles segment is expected to grow because of the high demand for bleaching of textiles such as cotton and wool fabrics.
Global hydrogen peroxide market for wastewater treatment
Hydrogen peroxide is used for treating industrial wastewater and municipal wastewater, controlling parasites in aquaculture, and removing undesirable compounds such as cyanides, hydrogen sulfide, hypochlorite, phenols, and various oxygen-demanding organic compounds. The wastewater treatment segment is expected to grow at a moderate rate because of the increasing demand for safe drinking water, owing to the rise in global population.
Global hydrogen peroxide market for others
The others segment includes the food and beverages, healthcare, electronics, oil and gas, and agriculture sectors. Food grade hydrogen peroxide is used in the food processing industry. The etching of circuit boards in electronic applications in the manufacture of semiconductors is expected to boost the demand for hydrogen peroxide. In the consumer goods and healthcare segment, hydrogen peroxide is used for the development ofhair color and acne control products.
Companies, such as Solvay and Evonik, have commercialized the electronics grade variants, along with several others which are under R&D. The growth of the electronic sector, especially in developing countries such as India and China, is expected to bring new opportunities for the global hydrogen peroxide market.
"The increase in demand for hydrogen peroxide from cleaning products and personal care products such as sterilizers, bleach, toothpaste, mouthwash, sanitizer, and hair dye is also expected to fuel the market. Rising applicational scope of hydrogen peroxide in agriculture for improving crop yield is also expected to drive its demand," says Hitesh.
The top vendors highlighted by Technavio's market research analysts in this report are:
- Arkema
- Akzo Nobel
- Evonik
- Kemira
- Solvay
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