Hydrogen Peroxide Market Set for CAGR of 5.6% by 2023

Colorless and more viscous than water, hydrogen peroxide is one of the more widely used chemicals in multiple industries. Chemically speaking, it is the simplest peroxide. In paper products it is used for bleaching, and in some cases, in mill waste water treatment systems. Key players that supply to the paper industry highlighted in a new Transparency Market Research, Albany, N.Y., report include Kemira Oyj and Akzo Nobel N.V.

 

The global hydrogen peroxide market is exhibiting a CAGR of 5.60% from 2015 to 2023. The 2014 global hydrogen peroxide market was recorded to be valued at $3.7 billion, which is expected to rise to $6 billion by the end of 2023.

More than 40% of the demand from the global hydrogen peroxide market in 2014 was taken up by the paper and pulp industry. Considering the extensive use of hydrogen peroxide as a bleaching agent in the paper and pulp industry, the growth in demand for paper and pulp will consequently spell growth for the global hydrogen peroxide market. This applies especially to publications and paper products that require a brighter shade of white, such as magazines, tissues (a growing sector in all global regions), and board papers.

The global hydrogen peroxide market in 2014 was dominated by Asia Pacific. At the time, the region accounted for more than 50% of the global hydrogen peroxide market, due to a surge in production levels of the Asia Pacific pulp and paper industry, especially in China and India. The demand for hydrogen peroxide was also high in the ASEAN region in 2014. This demand is expected to rise further in the near future due to continued growth of the pulp and paper industry in terms of reusing paper. Brazil holds a unique place in the global hydrogen peroxide market, as it is a major short-fiber pulp producer. Short-fiber pulp manufacturers require hydrogen peroxide in the largest quantities, thereby creating a large scope of demand for it in Brazil.

In the future, the global hydrogen peroxide market could be expected to keep increasing steadily due to better implementations of paper recycling strategies.

 

More information about the report is available online.