Hydrogen Peroxide Solvent Market Size, Share, Growth, and Industry Analysis by Type (27.5 Hydrogen Peroxide, 35% Hydrogen Peroxide, 50% Hydrogen Peroxide, and Others), By Application (Paper Industry, Textile Industry, Chemical Industry, Environment and Water Treatment, Electronics Industry, and Others), Regional Insights, and Forecast To 2031

Hydrogen Peroxide Solvent Market Report Overview

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The global hydrogen peroxide solvent market size is expected to be USD 4360.9 million in 2022 and is projected to touch USD 7000.61 million by 2031, exhibiting a CAGR of 5.4% during the forecast period.

The liquid form of hydrogen peroxide (H2O2) is transparent, colourless, and slightly viscous. It is a green oxidant that breaks down into oxygen and water. It is used primarily to bleach cotton and other textiles and wood pulp. It is also used to make other chemicals, as a rocket propellant, and for cosmetic and therapeutic applications. It is somewhat denser than water but is miscible with water in all amounts. The skin will corrode in solutions with hydrogen peroxide concentrations above 8%.

COVID-19 Impact: Disruption in Product Supply Causes Market Deformation

The global COVID-19 pandemic has been unprecedented and staggering, with the hydrogen peroxide solvent experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

The chaos and mayhem brought into our lives due to the coronavirus outbreak, started out in the beginning of 2019, has undoubtedly been a total game changer. Be it medical sector, machinery sectors, and even the chemical industry were badly hit from this sudden outburst. Nevertheless, chemicals that are used in pharmaceutical or healthcare sectors for medical purposes or sterilizing functions did experience a huge rise in demand, leading to increased production. However, the chemical industries are able to run smoothly and concentrate on strengthening their supply chains now that the lockdown is being lifted and there is a greater focus on reducing the cases of the new coronavirus.

LATEST TRENDS

"Rise in Demand for Product Inclines Towards Market Elevation"

In the field of electronics, hydrogen peroxide is utilized as an oxidizing agent. Printed circuit boards are made with it as a mordant, while semiconductors are made with it as an oxidizing and cleaning agent. The market is anticipated to expand as a result of rising demand from the paper and pulp sector and rising usage of hydrogen peroxide as a raw ingredient for the manufacturing of propylene oxide (HPPO Process). The demand for the hydrogen peroxide solvent market is projected to rise as a result of the expansion of the electronic industry in developing Asian nations and the use of hydrogen peroxide in water purification.

RESTRAINING FACTORS

"Health Risk to Hinder Market Growth"

The market's expansion is probably going to be hampered by the health risks and adverse consequences related to hydrogen peroxide exposure.

Hydrogen Peroxide Solvent Market Segmentation

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• Based on Type

On the basis of type, the market categorizes into 27.5% Hydrogen Peroxide, 35% Hydrogen Peroxide, 50% Hydrogen Peroxide, and Others.  

• By Application

On the basis of application, the market categorizes into Paper Industry, Textile Industry, Chemical Industry, Environment and Water Treatment, Electronics Industry, and Others.

DRIVING FACTORS

"Rising Demand for Paper Industry to Boost Market Growth"

The paper and pulp industry makes substantial use of hydrogen peroxide as a bleaching agent to create a variety of pulp types, including mechanical, chemical, and recyclable pulps. For these sectors, it is also utilized to optimally whiten the pulps. Over other bleaching agents, hydrogen peroxide is also used in the re-pulping of waste paper because it helps lower bleaching costs and lightens effluent color. These factors are expected to drive the hydrogen peroxide solvent market growth in coming years.

"Introduction of New Technologies Enhances Market Advancement"

The number of process steps in the chemical mechanical planarization process has risen to provide a highly polished semiconductor wafer surface due to the ongoing demand for efficient, high-speed processing with reduced size. Since hydrogen peroxide has such effective cleaning capabilities, it has become a popular cleaning agent among semiconductor producers.

The number of semiconductor chips and pieces of machinery has expanded due to the Internet of Things (IoT) revolution. The advent of IoT in semiconductors coincides with an exponential rise in the number of chips, putting new chip production materials in the limelight. As a result, it is anticipated that the need for hydrogen peroxide for cleaning would increase.

Hydrogen Peroxide Solvent Market Regional Insights

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"Asia-Pacific Overshadows the Market Owing to High Production Rate"

Asia Pacific has the largest hydrogen peroxide solvent market share. China has the largest GDP in the Asia-Pacific region. As a result of the country's expanding population, higher living standards, and higher per capita income, China has one of the fastest growing economies in the world.

China is a center for chemical processing, producing a sizable portion of the world's chemical output. The demand for hydrogen peroxide in this industry is anticipated to increase over the course of the forecast period due to the rising demand for various chemicals.

North America is anticipated to have a sizable market share. Due to the region's robust pulp and paper, chemical, and mining sectors, the North American market is anticipated to lead the worldwide hydrogen peroxide solvent market over the estimated period.

KEY INDUSTRY PLAYERS

"Key Market Participants to Prioritize on Product Development"

It is well foreseen by our experts through vigorous research that the key market participants of the sodium market will most likely prioritize their knowledge, funding and other resources for further product development. Product improvement is in dubiously one of the major driving factors that will certainly uplift the market sales and aid in its expansion. Apart from this, ensuring safe and secure manufacturing and transportation of the chemically enhanced product will also be taken into consideration and suitable measures will be taken accordingly.

LIST OF TOP HYDROGEN PEROXIDE SOLVENT COMPANIES

• Solvay (Belgium)
• Evonik (Germany)
• Arkema (France)
• Akzo Novel (Netherlands)
• Kemira (Finland)
• MGC (India)
• OCI Chem (South Korea)
• NPL (India)
• Zhongeng Chemical (China)
• Luxi Chemical (China)
• HEC (India)
• Kingboard Chemical (Hong Kong)

REPORT COVERAGE

This report concisely covers all essential features for the respective market in a constructive manner, highlighting consumer behavior, company relations, market crazes, business patterns, enterprise profiles, contact statistics etc. In addition to this, the focus is also directed to examine all the influential factors upon which market growth chiefly depends. This report conveys a holistic overview containing knowledge that is very beneficial for key industry players, stakeholders, etc. This research analysis effectively outlines various segments, categorized on the basis of type, application and region. Names along with critical details about the key market players and their gross contribution to the market have also been listed.