According to the latest report by IMARC Group, titled “Hydrogen Peroxide Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global hydrogen peroxide market reached a value of US$ 2.94 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 4.6% during 2021-2026.
Hydrogen peroxide refers to a chemical compound that occurs as a pale blue, clear liquid in its pure form. Comprising of hydrogen and water, the compound is unstable in nature as it decomposes to oxygen and water in an exothermic reaction. Since it can cause combustion when it comes in contact with organic materials, it is stored in a weak acidic solution along with a stabilizer. It is widely used as an antiseptic to heal the infection caused by burns or minor cuts. It also has strong oxidizing properties owing to which it is used as a bleaching agent in the paper and pulp industry. Apart from this, it also used for deodorizing and removing stains from clothes. Apart from this, it is employed across a vast array of industries in various products, including ear drops, toothpaste, hair relaxers and antiseptic mouthwash.
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Global Hydrogen Peroxide Market Trends:
The market is primarily driven by the escalating demand from the paper and pulp industry. Hydrogen peroxide is widely used in the industry as a bleaching agent and in the manufacturing of chemical, mechanical and recyclable pulps. The increasing demand for high-quality, as well as recycled paper from the print media and e-commerce sites for packaging purposes, is creating a positive outlook for the market. Apart from this, there is an increasing demand for this compound from the agricultural sector for improving the crop yield. Additionally, governments of various countries are implementing stringent regulations to promote the use of hydrogen peroxide due to its eco-friendly and emission-free properties. This has led to the increasing usage of this compound for water treatment and pollution control applications, which is projected to facilitate the market growth. Hydrogen peroxide also forms a primary component in the Hydrogen Peroxide to Propylene Oxide (HPPO) technology to manufacture propylene oxide sustainably. The escalating demand for propylene oxide from the automotive, construction, and food and beverage industries is therefore expected to provide an impetus to the market growth.
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