The global market for hydrogen peroxide is projected to witness a steady growth trajectory over the coming years. According to a report published by Transparency Market Research (TMR), the market consists of a small number of existing players, which amount for a large portion of the market share. The established vendors are expected to capitalize on emerging regions and their immense potential, through expansion of their brand via mergers and acquisitions. Local players are expected to improve their product portfolio by partnering with the global giants. Some of the prominent names of the global peroxide market are National Peroxide Limited, Solvay S.A., Mitsubishi Gas Chemical Company, Arkema S.A. and Evonik Industries AG.
The global hydrogen peroxide market was evaluated to stand at an estimation of US$2.44 bn in the year 2016. By the end of the forecast period, i.e. by end of 2025, the market is expected to stand to US$3.68, thus exhibiting a 4.7% CAGR. The Asia Pacific region is anticipated to showcase a 5.3% CAGR between 2017 and 2025, making it the leading regional segment in terms of growth rate.
Pulp and Paper Industry to Emerge as Key Market Segment
The paper and pulp industry represented a considerable share of the worldwide hydrogen peroxide market in 2016. Hydrogen peroxide is broadly utilized as a blanching and oxidizing operator in the paper and pulp industry. Utilization of hydrogen peroxide accomplishes a luxurious surface to papers that is reasonable for high-review magazine papers and tissue items. Interest for hydrogen peroxide is required to increment from this industry in the coming years attributable to expanding utilization of paper over the globe. Introduction of the web and digitalization has reduced the utilization of newsprint paper in developed countries. In any case, rising interest for paper in individual care and packaging enterprises in developing countries is expected to propel the demand for paper.
Asia Pacific is expected to hold a significant share of the market as far as utilization and creation of hydrogen peroxide on a worldwide front. The market in the region is driven by rising interest from paper and pulp and wastewater treatment businesses. In terms of rate, the market in Asia Pacific is foreseen to exhibit a CAGR of 5.3% over the duration of forecast. Europe and North America take after Asia Pacific in terms of volume.
Demand form Industries to Offer Lucrative Growth Opportunity
The manufacture and demand of hydrogen peroxide is incrementing because of mechanical advancements. For instance, the division of energy at Stanford University and SLAC National Accelerator Laboratory have built up a gadget to produce hydrogen peroxide. This gadget can be fueled utilizing inexhaustible wellsprings of energy, such as regular solar panels. The improvement of such gadgets will be one of the trends that will pick up footing in the hydrogen peroxide market in the approaching years.
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Electronic review hydrogen peroxide utilized without any other substance or combined with sulfuric corrosive in the assembling of semiconductors as an oxidizing or cleaning operator will likewise positively affect the market. Progressing research in this field is anticipated to provide new growth avenues over the coming years, which may likewise powerfully affect hydrogen peroxide market.