JERSEY CITY, N.J., Nov. 18, 2021
- Some of the major factors expected to drive the Hydrogen Peroxide Market include rising demand for disinfectants, increasing demand from the healthcare industry, and an increase in the number of paper & pulp manufacturers and food processing units.
JERSEY CITY, N.J., Nov. 18, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Hydrogen Peroxide Market" By Function (Oxidant, Disinfectant and Bleaching), By End User Industry (Pulp & Paper, Chemical Synthesis, Healthcare & Personal Care, Food Processing, Textile), and By Geography. According to Verified Market Research, the Global Hydrogen Peroxide Market size was valued at USD 1.47 Billion in 2020 and is projected to reach USD 2.11 Billion by 2028, growing at a CAGR of 5.8 % from 2021 to 2028.
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Browse in-depth TOC on "Hydrogen Peroxide Market"
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Global Hydrogen Peroxide Market Overview
Hydrogen peroxide finds its application across a wide variety of industries due to its chemical properties. For instance, during the recent COVID-19 pandemic, demand for hydrogen peroxide grew significantly owing to its usage in cleaning products. It acts as a germ killer for bathrooms, toilets, doorknobs. It kills viruses. During the COVID-19 pandemic, guidelines were imposed at a global level to disinfect public as well as private places. Especially public areas such as airports, commercial buildings, railway stations, among others were told to be sterile on a regular basis.
In addition, the demand WHO recommended alcohol-based hand sanitisers for frequent hand hygiene, which had Hydrogen peroxide as one of the key components. This there was an increased demand for Hydrogen peroxide even during the pandemic and is expected to continue in near future. It also finds application in Water & Wastewater Treatment. For instance, in drinking water purification, it is used to control taste and odour, ozone enhancement and disinfection, and to degrade organics 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 used to reduce BOD (Biochemical Oxygen Demand) and COD (Chemical Oxygen Demand) of industrial wastewater. Thus, the Asia Pacific region is expected to become a key revenue generator, owing to the rapid development of the infrastructure. A large number of commercial and residential structures are coming up in the region, and hence there will be an increased demand for Water & Wastewater Treatment, eventually boosting demand for Hydrogen peroxide. Thus, with the multifunctional properties of Hydrogen peroxide, its demand is expected to increase in the coming years.
The major players in the market are Solvay SA, Evonik Industries AG, Arkema SA, AkzoNobel N.V., BASF SE, The DOW Chemical Company, Ecolab Inc., Kemira OYJ, Merck Group, Mitsubishi Gas Chemical Company.
Verified Market Research has segmented the Global Hydrogen Peroxide Market On the basis of Function, End User Industry, and Geography.
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