Currently, it has been observed that the effect of production of chemicals on the environment is under stark inspection, and hence, the chemical industry worldwide has been witnessing stringent regulations to curb environmental pollution. In this context, Hydrogen peroxide is a non-polluting oxidizing agent -- as its oxidation by-product is water -- and hence, could be commercially looked as a potential eco-friendly oxidizing agent. Hydrogen peroxide, as an oxidizing agent, does not cause any release of gases or other chemical residues. Besides, it also displays versatility in context of its applications. For instance, it has the ability to treat both easy-to-oxidize pollutants (iron and sulphides) as well as treat pollutants which are difficult to oxidize (solvents, gasoline and pesticides). The fact that hydrogen peroxide’s power can be adjusted in multiple ways (by merely adjusting chemical reaction conditions such as dosage, catalyst usage, reaction time, temperature and pH) increases its diversity, thereby making it a key chemical to be studied from a market perspective.
The utility of hydrogen peroxide is mainly as an oxidizer, bleaching agent and disinfectant. The concentrated form of hydrogen peroxide is used as a propellant in the rocket and space industry.
Industrial strength concentrations of H2O2 typically exceed 34%. It is produced in the form of aqueous solutions, which have a strong, pungent odour. Industrial strength concentrations generally range between 35% and 70%.
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Key Trends, Drivers
It is expected that increased usage of hydrogen peroxide in bleaching and de-inking processes applied to recycled paper in the paper industry would drive the growth of the global hydrogen peroxide market in the long term. A recent trend has been witnessed -- there is an increasing demand for recycled paper in the developing world, which is expected to boost the industrial hydrogen peroxide consumption in Latin America and South Asia.
With regard to the electronics industry, increased use of hydrogen peroxide for etching printed circuit boards is also expected to further drive the market growth of the chemical.
The currently flourishing pulp and paper industry and the packaging industry in the Asia Pacific region is also expected to grow in near future, and hence, the region currently remains and is also expected to remain the largest segment of the global hydrogen peroxide market by region, in near future.
However, as concentrated industrial hydrogen peroxide solutions pose serious health risks to humans in case of exposure of the eyes and skin to them and is carcinogenic is nature, the hydrogen peroxide market will face these challenges with regard to its growth in near future.
Also, the technological transformation from print to digital media which has been taking place since past few years has also been limiting the growth of the hydrogen peroxide industry to an extent.
One of the key uses of hydrogen peroxide in the downstream chemical use is that it is used during the manufacturing of propylene oxide -- which is produced through a very competitive commercial manufacturing process. This is expected to become a major consumption segment of hydrogen peroxide globally in the next three to four years.
Hydrogen peroxide is an eco-friendly product. As environmental wakefulness is on the rise at a worldwide level and environmental regulations are becoming stringent, the hydrogen peroxide market is expected to grow as a result thereof. It should also be noted that the use of hydrogen peroxide as an oxidizing agent has also been on the rise in the recent past.
On the basis of industry-wise end-use and application type (mentioned in respective brackets), the global hydrogen peroxide market is segmented as follows:
- Paper and pulp industry (bleaching agent)
- Food industry (bleaching agent and biocide)
- Chemical industry (oxidation agent)
- Healthcare industry (bleaching agent and disinfectant)
- Electronics industry (oxidizing and cleaning agent)
- Mining industry (oxidation agent and oxygen source)
- Textile industry (mild bleaching agent)
- Transportation industry (propellant)
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Examples of the market participants in the global industrial hydrogen peroxide market are as follows:
- Arkema S.A.
- Evonik Industries AG
- Solvay S.A.
- Akzo Nobel N.V.
- Kemira Oyj
- Mitsubishi Gas Chemical Company, Inc.
- PeroxyChem LLC
- Aditya Birla Chemicals Limited
- Gujarat Alkalies and Chemicals Ltd (GACL)
- Kingboard Chemical Holdings Ltd.
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