In a report titled “Hydrogen Peroxide Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,” Transparency Market Research states that the global hydrogen peroxide market is poised to expand at a 5.60% CAGR from 2015 to 2023. In terms of value, the market will grow from US$3.7 bn in 2014 to just over US$6 bn in 2023.
The global hydrogen peroxide market is driven by the surging demand from the paper and pulp industry and the rising popularity of hydrogen peroxide as a raw material for the production of propylene oxide through the HPPO process. While the potential health hazards of hydrogen peroxide will act as a deterrent to the global market, its growing use in the electronics industry is projected to serve as an opportunity for players to capitalize on.
On the basis of end use, the hydrogen peroxide market is segmented into chemical, mining, paper and pulp, wastewater treatment, and others such as electronics and textiles. In 2014, the paper and pulp segment held a share of more than 40%, making it the largest end-use segment of the hydrogen peroxide market that year. Registering a CAGR of more than 5.0% from 2015 to 2023, the chemical segment is anticipated to expand at the fastest pace, driven by the rising demand for hydrogen peroxide for the manufacturing of propylene oxide.
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The global hydrogen peroxide market is divided into five main segments on the basis of geography: North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Accounting for a share of over 50% in 2014, Asia Pacific has emerged as the leading regional segment of the hydrogen peroxide market in terms of volume. This growth can be mainly attributed to the development of the paper and pulp industry in countries such as India and China and those in the ASEAN region. The hydrogen peroxide markets in Latin America and the Middle East and Africa regions are anticipated to witness a surge in demand thanks to the growth of the paper and pulp industry in Brazil and South Africa. Still recovering from the economic slowdown, North America and Europe will witness moderate growth in the coming years.
Some of the noteworthy participants in the global hydrogen peroxide market are Gujarat Alkalies and Chemicals Ltd. (GACL), Evonik Industries AG, Kemira Oyj, Aditya Birla Chemicals Limited, Arkema S.A., Mitsubishi Gas Chemical Company, Inc., Akzo Nobel N.V., PeroxyChem LLC, Solvay S.A., and Kingboard Chemical Holdings Ltd. These players are profiled in the hydrogen peroxide market report based on key aspects such as company overview, business strategies, financial performance, and recent developments.
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