Industrial Hydrogen Peroxide Market size is forecast to reach around $4.5 billion by 2025, after growing at a CAGR of 5% during 2020-2025. The use of hydrogen peroxide provides various benefits like increased brightness levels, improves brightness stability, and reduces manufacturing cost. Hence, the demand for Industrial Hydrogen Peroxide is growing from various end-use industries such as cosmetics & personal care, aerospace, agriculture, and chemical synthesis, which in turn drives the growth of Industrial Hydrogen Peroxide market share. The growing consumer sector along with the e-commerce industry is also propelling the Industrial Hydrogen Peroxide market size during the forecast period. Furthermore, the growing uses of hydrogen peroxide as an oxidizing agent in the Chemical Industry is also contributing to the growth of this market.
Type – Segment Analysis
The bleaching segment holds the largest share of more than 25% in the Industrial Hydrogen Peroxide market in 2019 owing to the growing popularity of skin-bleaching cosmetic products in Asia-Pacific and uses of hydrogen peroxide as a bleaching agent for the treatment of natural and synthetic fibers in the textile industry is driving the growth of the Industrial Hydrogen Peroxide market. Furthermore, the growing uses of bleaching as a household disinfectant and cleaning agent across the residential and commercial sectors are also driving the market growth. Moreover, the hydrogen peroxide as a bleaching agent also find various applications in paper & pulp, pharmaceuticals personal care, and medical industries including dental or wound disinfectant and decontamination of surgical instruments, further boosting the market.
Request for Sample of the Report @ https://www.industryarc.com/pdfdownload.php?id=17770
Report Price: $ 4500 (Single User License)
Application – Segment Analysis
Electronic and semiconductor segment is projected to witness a significant CAGR of 6% during the forecast period. Industrial Hydrogen Peroxide such as hydrogen peroxide and phosphoric acid is used in the electronic industry as an oxidizing and cleaning agent for manufacturing semiconductors as well as an etchant in the production of printed circuit boards. An increase in demand for electronic appliances increases the use of printed circuit boards which further propels the growth of the Industrial Hydrogen Peroxide market. According to The industry association for Printed Circuit Boards (IPC), total North American printed circuit board shipments in April 2019 increased by 6.6% compared to April 2018, subsequently fueling the Industrial Hydrogen Peroxide market.
Geography – Segment Analysis
The Asia Pacific region has dominated the Industrial Hydrogen Peroxide market with a share of more than 40% in 2019 followed by North America and Europe. The growing industrialization across the country is driving the growth of the Industrial Hydrogen Peroxide market in developing nations. Increasing demand for apparel and the expansion of textile industries is also aiding the growth of this market in the APAC region. Moreover, increasing usage of pesticides and fertilizers for better crop productivity by nations like China, India, Malaysia, and Indonesia is boosting the Industrial Hydrogen Peroxide market. The growing water and wastewater treatment plants across various industries are also contributing to the growth of this market in the APAC region.
Drivers – Industrial Hydrogen Peroxide Market
Growing water and waste water treatment activities in industries
The use of hydrogen peroxide offers various benefits such as softening the water and chlorination destroys most waterborne germs to help keep water safe and reusable, which makes it extensively useful for various industrial applications. Furthermore, the growing health awareness among the consumers or employees and the rise in water treatment facilities in industries are contributing to the growth of the industrial hydrogen peroxide market over the forecast period. Besides, according to the Unites Nations Water Publication, due to the growing industrial and domestic sectors the demand for water is expected to grow from 20% to 30% above by 2050 from the current level of water use. This growth increases the need for water and wastewater treatment activities, which in turn drives the growth of this market.
Increasing usage of paper and stringent environment regulations
Hydrogen peroxide is used as a bleaching agent in paper and pulp industry. To overcome the environmental impacts of plastics, the demand for paper for packaging applications is increasing, which further drives the growth of Industrial Hydrogen Peroxide. According to the environmental paper network (EPN), paper use is steadily increasing year on year and exceeded 400 million tons per year in 2018. Moreover, government regulations to lower the use of plastics also boost the growth of the market. For instance, New York has restricted the use of plastics by passing Senate Bill 1508 in 2019. Moreover, the growing environmental awareness among industries and stringent environment norms from developed and developing regions drive the demand for hydrogen peroxide with low volatile organic compounds (VOC). Governments globally are focusing on green practices for reducing the impacts of chemicals on human health and the environment. Industrial Hydrogen Peroxide is required to meet the inevitably strict environmental standards, as developing countries like China and India are updating instructions to control VOC which will further boost the adoption of Industrial Hydrogen Peroxides.
Talk to one of our sales representative about the full report by providing your details in the link below:
Challenges – Industrial Hydrogen Peroxide Market
Harmful effects on human health and fluctuation of prices
Although Industrial Hydrogen Peroxide finds a wide range of applications, its harmful effect on human health restraint the growth of the market. Exposure to Industrial Hydrogen Peroxide can cause severe skin burns, can irritate the nose and throat and cause difficulties in breathing. Fluctuating prices of chemical is also a major challenge for Industrial Hydrogen Peroxide market. In October 2019, Arkema has raised the price for its hydrogen peroxide range by 30 €/DMT to cover increasing electricity and labor costs whereas Solvay raised the prices in September 2018 by EUR130 per dry metric ton in Europe for all hydrogen peroxide grades and derivatives. Whereas, there are various factors responsible for the fluctuation of the raw materials such as geopolitical issues between countries, trade war, inflations, employability, labor cost, and growing population. For instance, in 2019, the trade war between the US and China has a major impact on the manufacturers, suppliers, and distributors of hydrogen peroxide products. Additionally, the outbreak of COVID-19 has adversely impacted the Industrial Hydrogen Peroxide market. Lack of manpower has led many manufacturing companies to stop their production which further results in their downfall. Electronic, aerospace and textile industries are facing huge losses, thus affecting the demand for Industrial Hydrogen Peroxide.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Industrial Hydrogen Peroxide market report. Major players in the Industrial Hydrogen Peroxide market industry outlook are BASF SE, The Dow Chemical Company, Solvay SA, Evonik Industries AG, AkzoNobel N.V., Ecolab Inc., Indian Peroxide Limited (IPL), Kemira Oyj, Arkema SA, Merck Group, and Mitsubishi Gas Chemical Company, Inc., among others.
In July 2019, Solvay has increased the production of hydrogen peroxide owing to the growing demand from Europe in in Bernburg (Germany) and Voikkaa (Finland). The hydrogen peroxide served across various end-use industries like serving customers in diverse markets including pulp and paper, aquaculture, food, chemicals and electronics.
In November 2018, Indian Peroxide Limited (IPL), has expanded its business by establishing 125TPD hydrogen peroxide plant complex in Gujarat, India which produces hydrogen peroxide in 35%, 50%, and 60% concentration.
In May 2018, Arkema has launched new grade of Hydrogen Peroxide, Valsterane S-HP for spray Aseptic packaging systems and it is available in two different concentrations, 25% and 35% of hydrogen peroxide.
Increasing shift from chlorine to Elemental Chlorine Free (ECF) Chemicals is likely to boost the growth of Industrial Hydrogen Peroxide market.
Increasing environmental concerns and government restrictions on the use of plastics also augment to the growth of Industrial Hydrogen Peroxide market.
Gradually maturing Pulp & Paper Industry and growing health care industry also contribute to the market growth.
The emerging applications in the Semiconductor, Mining & Metal Extraction, and Agriculture Industries are providing growth opportunities over the forecast period.
In the US, most of these applications are regulated by the United States Department of Agriculture (USDA), the Food and Drug Administration (FDA), or the Environmental Protection Agency (EPA).
Related Reports :
A. Hydrogen Market
B. Water Treatment Chemicals Market –
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to email@example.com to discuss more about our consulting services.