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Hydrogen Peroxide Market Size | Trends, Forecast and Analysis By 2024

Author : Ronak Bora | Published Date : 2019-06-06 

As per Global Market Insights, Inc. “Hydrogen peroxide market size is anticipated  to surpass USD 6 billion, registering an annual growth rate of 5% over 2016-2024.” Rising consciousness regarding minimizing plastic waste & maintaining environment sustainability will gear up the expansion of hydrogen peroxide market. Rapid consumption of paper and packaging material across the globe coupled with rising consciousness for recycling of paper and using eco-friendly packing processes instead of plastics has been a major factor pushing the growth of hydrogen peroxide industry. Hydrogen peroxide is used as a bleaching and deinking agent for the paper and pulp making process. A strong consumer base with increasing disposable income will also propel the market trends.

New developments and ongoing research in the market is expected to positively impact the hydrogen peroxide industry. For instance, the use of electronic grade hydrogen peroxide with sulfuric acid as an oxidizing or cleaning agent in etching of semiconductor boards will generate huge growth opportunities for the hydrogen peroxide market outlook.

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Moreover, the introduction of hydrogen peroxide propylene oxide (HPPO) process in 2008 in a collaboration between ThyssenKrupp Uhde and Evonik Industries has embarked the commercialization of this process. As a result, increasing adoption of HPPO process in various other companies such as Solvay, Dow Chemicals, and BASF SE will have a dynamic impact on the hydrogen peroxide market share.

Global hydrogen peroxide market size is forecast to reach USD 6.39 billion by 2024, with estimated gains at 5.7% CAGR.

Paper & pulp industry accounted for around USD 1,550 million of hydrogen peroxide market size in 2015 and will continue to dominate the market throughout the forecast timeframe. This growth is on the account of rising demand of recycled papers and flexible packaging materials.

Chemical applications were worth more than USD 1,300 million in 2015 and will have a healthy growth at over 6% CAGR from 2016 to 2024.

Asia Pacific registered more than USD 2 billion in 2015 and accounted for over 50% of the global hydrogen peroxide market share. Strict regulatory norms in North America and Europe will shift the global market towards APAC.

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North America hydrogen peroxide market is anticipated to cross a total revenue of USD 1,000 million by 2024.

Akzo Nobel, Evonik, Arkema, Solvay and Kemira account for significant industry share. Analysts expect the market to consolidate over the next decade.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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