JERSEY CITY, NJ, November 18, 2021 / PRNewswire / – Verified Market Research recently published a report, “Hydrogen Peroxide Market“By function (oxidizer, disinfectant and bleach), by end-user industry (pulp and paper, chemical synthesis, health and personal care, food processing, textiles) and by geography. According to verified market research, the global hydrogen peroxide market size was estimated at $ 1.47 billion in 2020 and should reach $ 2.11 billion by 2028, with a CAGR of 5.8% from 2021 to 2028.
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202 – Pages
126 – Tables
37 – Figures
Global Hydrogen Peroxide Market Overview
Hydrogen peroxide finds application in a wide variety of industries due to its chemical properties. For example, during the recent COVID-19 pandemic, the demand for hydrogen peroxide increased dramatically due to its use in cleaning products. It acts as a germ killer for bathrooms, toilets, doorknobs. It kills viruses. During the COVID-19 pandemic, guidelines were imposed globally to disinfect public and private places. In particular, public areas such as airports, commercial buildings, train stations, among others, have been regularly declared sterile.
In addition, the WHO recommended alcohol-based hand sanitizers for frequent hand hygiene, of which hydrogen peroxide was one of the key components. There has been an increased demand for hydrogen peroxide even during the pandemic and is expected to continue into the near future. It also finds application in the treatment of water and wastewater. For example, in the purification of drinking water, it is used to control taste and odor, improve ozone and disinfection, and to degrade organic matter in industrial or municipal wastewater. It can also be used for the disinfection of wastewater treatment plants.
Hydrogen peroxide is used as an oxidizing agent in wastewater treatment to reduce the BOD (Biochemical Oxygen Demand) and COD (Chemical Oxygen Demand) of industrial wastewater. So the Asia Pacific The region is expected to become a key revenue generator, due to the rapid development of infrastructure. A large number of commercial and residential structures are coming to the area, and as a result, there will be an increase in demand for water and wastewater treatment, eventually increasing the demand for hydrogen peroxide. So, with the multifunctional properties of hydrogen peroxide, its demand is expected to increase in the coming years.
- In March 2021, Solvay built a new electronic grade production unit for high purity hydrogen peroxide for the semiconductor industry at its Bernburg site in Germany.
- In june 2020, Solvay has started production of its new hydrogen peroxide dilution and conditioning plant in Vietnam. This installation is designed to achieve 24k tons per year to meet growing local demand for hydrogen peroxide for the textile industry and other applications.
- In May 2018, Arkema has launched a new range of hydrogen peroxide for aseptic packaging spraying technologies, Valsterane S-HP.
The main players in the market are Solvay SA, Evonik Industries AG, Arkema SA, AkzoNobel NV, BASF SE, The DOW Chemical Company, Ecolab Inc., Kemira OYJ, Merck Group, Mitsubishi Gas Chemical Company.
Verified market research segmented the global hydrogen peroxide market on the basis of function, end-user industry, and geography.
- Hydrogen Peroxide Market, By Function
- Hydrogen Peroxide Market, By End User Industry
- Pulp and paper
- Chemical synthesis
- Health care and personal care
- Food preparation
- Water and wastewater treatment
- Electronics & Semiconductor
- Others (mining and metallurgy, transport and recycling
- Hydrogen Peroxide Market By Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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