Established Use as a Chemical Decontaminant Together with its Use as a Chlorine Free Bleaching Agent in Paper Production Amidst Stable Outlook for the Paper Products Industry Sustains Consumption of Hydrogen Peroxide
Growing demand for powerful and
environmental friendly chemical decontamination solutions with excellent
disinfectant and antiseptic properties, and stable paper production where the
chemical is used as a total chlorine free (TCF) bleaching agent are poised to
drive the global market for Hydrogen Peroxide to reach 6.0
million metric tons by 2024.
The Hydrogen peroxide (H2O2)
market globally continues to exhibit healthy growth driven by the perennial
significance of paper in industries, commercial establishments, and homes,
where the chemical is used in pulp bleaching and
deinking of recycled paper. Paper & pulp production continues to remain the
largest end-use market for H2O2. In pulp bleaching, H2O2 is used as a versatile
bleaching agent in chemical pulp bleaching and mechanical pulp bleaching. The
application of hydrogen peroxide in paper production enables top brightness
levels with better brightness stability, optimized economy through savings in
the total chemicals required, low residue of halogenated compounds both in pulp
and in effluent and low effluent color. A chemical compound of hydrogen and oxygen, hydrogen
peroxide is a strong oxidizing agent and is employed predominantly to oxidize
organic and inorganic compounds. Given its numerous chemical
properties, hydrogen peroxide finds use in a wide array of applications across
a broad spectrum of industries including pulp & paper mills, textiles,
environmental and household applications. Stringent environment protection
regulations are creating shifts in consumption of bleaching chemicals favorable
to the H2O2 market.
Future
growth in the market will be driven largely by emerging new and niche
applications in electronic & semiconductors industry, mining & metal
extraction, agriculture, paint and polymer production, tanneries, stainless
steel industries, pharmaceutical and healthcare. Electronics and semiconductors
will especially drive robust demand prospects for H2O2, where it is
increasingly used for etching of printed circuit boards and in cleaning and
etching processes. The growth of the electronic industry, particularly in
developing Asian countries like Taiwan, Korea and China, will fuel encouraging gains
in the market. In agriculture, H2O2 is expected to find significant use in soil
disinfection and in improving crop yield. Given its disinfectant properties,
hydrogen peroxide is also being widely used in pharmaceutical applications and
for disinfection of dental and surgical instruments. Environmental laws and
regulations play a vital role in driving the use of hydrogen peroxide, given
the chemical’s emission-free and eco-friendly characteristics. The chemical
industry is also expected to drive rapid gains in the market, where H2O2 is
used in the synthesis of peroxides (peracids, hydroperoxides
and diacyl peroxide), epoxidation of olefins, hydroxylation of phenol, and
oxidation of amines and hydrazine hydrate. Increasing popularity of hydrogen
peroxide in pollution control and water treatment applications will add further
impetus to market growth.
As stated by the new market research
report on Hydrogen Peroxide, Asia-Pacific represents the largest and the fastest growing market
worldwide with a CAGR of 6.4% over the analysis period. Increasing
concentration of raw pulp plants in countries including India, China, Indonesia
and Thailand; growing production of textiles and strong opportunities in
textile bleaching; rising standards of living, growing consumer spending on
sanitation products and opportunities as a decontaminant in detergents and
household laundry pre-wash products represent key growth drivers in the region.
Increased environmental pressure, particularly in North America and Western
Europe, will continue to sustain demand for hydrogen peroxide in applications
such as pulp bleaching, treating process streams, and remediating contaminated
soil and water.
Key players in the market include Aditya
Birla Chemicals (India) Limited, Arkema S.A., Arkema, Inc., Chang Chun
Petrochemical Co., Ltd., Ercros S.A., Evonik Industries AG, Guangdong
Zhongcheng Chemicals Inc., Ltd., Gujarat Alkalies and Chemicals Limited (GACL),
Hansol Chemicals, Hodogaya Chemical Co. Ltd., Kemira Oyj, Kingboard Holdings
Limited, Liuzhou Chemical Industry Co., Ltd., MilliporeSigma, Mitsubishi Gas
Chemical Company, Inc., National Peroxide Limited, Nouryon, OCI Company Ltd.,
PeroxyChem LLC, and Solvay SA, among others.
The
research report titled “Hydrogen Peroxide – Market
Analysis, Trends, and Forecasts” announced by Global Industry Analysts Inc., provides a
comprehensive review of market trends, issues, drivers, mergers,
acquisitions and other strategic industry activities of major companies
worldwide. The report provides market estimates and projections for all major
geographic markets such as the US, Canada, Japan, Europe (France, Germany,
Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and
Rest of Asia-Pacific), Latin America, and Rest of World. End-use industries
analyzed in the report include Pulp & Paper, Textiles, Environmental,
Chemical Synthesis, and Others.
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