Hydrogen Peroxide Market Will Have The Impact Of Environmental Regulations

Hydrogen Peroxide Industry Overview

The global hydrogen peroxide market size was valued at USD 1.44 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.7% from 2020 to 2028. Rising demand for the product from the healthcare industry due to its antiseptic properties is projected to remain a key factor fueling market growth. In the healthcare sector, the product is highly demanded as an antiseptic, which is traditionally utilized on skin cuts and bruises to prevent infections. It is also widely used as a mouth rinse as it has the ability to relieve mouth irritation or mucus and other oral infections. Majorly, the substance releases oxygen, which leads to foaming on the bruised and cut skin and eventually leads to effective removal of dead skin as well as keeps the wound safe from infection.

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Furthermore, in light of the recent COVID-19 pandemic, demand for hydrogen peroxide has grown significantly worldwide due to its high consumption in the formulation of disinfectant products. According to multiple guidelines issued by governments across the globe, disinfecting public as well as private spaces is extremely necessary to subside the impact of the coronavirus spread. Public areas such as commercial buildings, public stoppages, airports, and railway platforms need to be sterilized for over 60 minutes within closed boundaries. Similar household cleaning protocols have also been issued by several governments and therefore demand for sanitizers and disinfectant products have reflected noteworthy growth.

For the production of such disinfectants and sanitizing products, hydrogen peroxide is one of the key components. For instance, a typical disinfectant usually comprises 3% to 4% hydrogen peroxide, 0.5% to 1% peroxyacetic acid, a certain amount of isopropyl alcohol, chlorine dioxide, and other components. Moreover, as cited by the Center for Biocide Chemistries, the substance is anticipated to remain in high demand across the industry for a prolonged time period due to its excellent properties to provide resistance against viruses, bacteria, and several other microorganisms.

Moreover, the substance finds a range of applications in the wastewater treatment segment as it is an excellent oxidizing agent and is simultaneously dependable, environmental-friendly, and versatile in nature. Catalyzed form of the product has the ability to destroy oxidize pollutants rapidly and is therefore considered highly effective in the sector. The water treatment industry has witnessed a significant boost in the U.S. market since the country faced prolonged illness related to water-borne sickness, and thus the consumption of the product is projected to reflect steady growth in this segment across North America, especially the U.S.

Furthermore, Asia Pacific has reflected high demand for processed food since the past decade due to increasing consumer preference to consume packaged edibles, coupled with rise in disposable income among the key economies of the region. The product finds various utilities in the food processing sector, which includes the initial stage treatment of instant food with hydrogen peroxide to enhance the whiteness and clarity of the food products. Moreover, the product is broadly used as a bleaching substance for gums, natural oil, starch, and natural sugar. These factors are anticipated to boost demand for the product in food processing applications across the Asia Pacific.

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Key Companies profiled:

• Evonik Industries

• Arkema

• Solvay

• Gujarat Alkalies & Chemicals Ltd.

• OCI Company Ltd.