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APAC Hydrogen Peroxide Market will expand with a significant CAGR of 6% by 2024

Author : Ronak Bora | Published Date : 2019-04-01 

The Hydrogen Peroxide Market is set to grow from its current market value of more than $3.8 billion to over $6.4 billion by 2024; as reported in the latest study by Global Market Insights, Inc.

Asia pacific is anticipated to account for nearly half of the global hydrogen peroxide market with a growth rate exceeding 6% CAGR. This region is characterized by the presence of many pulp & paper as well as chemical industries, mostly in China and India. This factor will chiefly drive the industries growth in Asia Pacific. Hydrogen peroxide market in Europe will grow at a sluggish rate during the forecast timeframe. Its market value is anticipated to reach USD 1.5 billion in 2024. Stringent rules by regulatory organisations such as OSHA, REACH etc. on the use of the product will hinder the market in Europe.

High growth in the pulp & paper industry will propel the global hydrogen peroxide market as the product is used a deinking and bleaching agent in pulp and paper. Global pulp & paper market value in 2015 was above USD 500 billion and the industry is anticipated to grow at a healthy rate during the forecast timeframe. Although worldwide demand for paper witnessed a decrease due to increased digitization, this trend was offset by an increase in demand for paper in the global packaging materials industry. Deinking is an essential sub-process of paper recycling. Increasing awareness about the ecological benefits of paper recycling and the resulting growth in paper recycling industry will also boost the global hydrogen peroxide market during the forecast period.

Increasing popularity of the hydrogen peroxide propylene oxide (HPPO) process in which the product is a raw material for the synthesis of propylene oxide is anticipated to be a contributing factor for the global market. Ever since its conceptualization in 2008, HPPO process has gained immense popularity and many companies are using this process for propylene oxide synthesis. The products demand in HPPO process will boost the hydrogen peroxide market during the forecast period.

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The product is corrosive in nature when it meets eyes, skin or is ingested. It causes irritation and may lead to tissue damage in eyes, skin and respiratory tract. It has the ability to cause fire or explosion when it is kept in proximity to heat, combustible materials or metal catalysts. These factors may hinder the market growth as industry players may substitute the product with safer alternatives.

Global hydrogen peroxide market is segmented, on the basis of end-user, into five categories including pulp & paper, chemical, wastewater treatment, mining and other end-user segments such as pharmaceuticals, hygiene products, etc. Pulp & paper is the most prominent end-user industry accounting above 40% share of the overall hydrogen peroxide market. This category will witness steady growth due to rising demand for paper & pulp in packaging as well as tissue industry. Chemical industry segment also has a substantial share and is anticipated to earn a revenue exceeding USD 4 billion in 2024. This segment will likely grow above 4% CAGR during the forecast period owing to the high growth in the chemicals industry which was valued exceeding USD 5 trillion in 2015.Make an inquiry for purchasing this report @ www.gminsights.com/request-sample/detail/851

Key players in the consolidated global hydrogen peroxide market are Evonik Industries AG, Kemira Oyj, Akzo Nobel, Mitsubishi, Arkema, Solvay, Gujarat Alkalies, Aditya Birla Chemicals Ltd., PeroxyChem LLC, and Kingboard Chemical Holdings. Participants in the hydrogen peroxide market is expected to increase their competitive edge in the coming years through acquisitions, mergers and collaborated R&D.

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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