The global hydrogen peroxide market size is projected to grow from USD 1.69 billion in 2021 to reach USD 2.20 billion by 2028 and exhibit a CAGR of 3.8% during the forecast period. Hydrogen peroxide (H2O2) provides a myriad of functions across household, industrial, and commercial applications. The wide applicability of the product due to high versatility is expected to the prime factor driving the market growth in the upcoming years. Fortune Business Insights™ has presented this information in its report titled, “Hydrogen Peroxide Market, 2024-2032”. The market size stood at USD 1.64 billion in 2020.

H2O2 is widely utilized by chemical, textile, water, pulp, cosmetics, home care, and specialty applications, including pharmaceuticals, electronics, and food & beverages. The key players’ investments in upscaling the production capacity have increased in recent years and are likely to boost the market's growth in the coming years.

Segmentation-

On the basis of grade, the market is bifurcated into >35% and <35%. On the basis of type, the market is segmented into bleaching agents, disinfectants, and others. On the basis of application, the market is categorized into specialty applications, home & personal care, water purification, textile bleaching, chemical synthesis, and pulp & paper. Geographically, the market is classified into Latin America, North America, Europe, Asia Pacific, and the Middle East & Africa.

Report Coverage-

• Provides a comprehensive analysis of the market.

• Emphasizes key factors, such as applications, leading companies, and others.

• Provides crucial insights into the regulatory scenarios of the market.

• Highlights the key market trends and the latest industry developments.

• Assesses the impact of the COVID-19 pandemic.

Drivers & Restraints-

Myriad of Applications to Augment Growth of the Market

H2O2 is widely used across the different household, commercial and industrial applications. It is used as an antimicrobial and antiseptic agent in healthcare. Textile and paper industries benefit from its strong bleaching properties. It acts as an exemplary oxidizing and disinfecting agent in food, personal care, water purification, and home care applications. The myriad of applications is anticipated to bolster the global hydrogen peroxide market growth.

The product’s antimicrobial and bleaching properties are useful in instant tea, cheese manufacturing, and other applications in the food industry. Moreover, major businesses such as Mitsubishi Gas Chemicals Company and Solvay S.A. are investing in the production of super-pure grades for electronic applications in Taiwan and China. Hence, the rising product adoption across electronic and food applications is expected to significantly stimulate market growth. However, the product’s strong oxidizing nature can pose potential health hazards and hinder the market’s growth.

Source- https://www.fortunebusinessinsights.com/hydrogen-peroxide-market-103920