hydrogen peroxide size

Hydrogen Peroxide Market was valued at USD 1.66 Billion in 2023 and is projected to reach USD 2.68 Billion by 2033, growing at a CAGR of 4.90% from 2023 to 2033

NEW YORK CITY, NEW YORK, UNITED STATES, January 12, 2023 /EINPresswire.com/ -- In its purest form, hydrogen peroxide can be described as a pale blue chemical compound. Hydrogen peroxide is unstable because it undergoes an exothermic reaction to decompose to oxygen and water. Because it can cause organic material contact, it is best to store it in an acidic solution. It is often used to treat minor burns and infections.

Hydrogen peroxide can be found in many industries such as electronics, textiles, healthcare, wastewater treatment, and mining. These industries are expected to grow the hydrogen peroxide industry market during the forecast period. Market growth can be slowed by serious health risks to the eye and skin.

Key Market Drivers

The chemical Hydrogen peroxide is versatile and can be used in many industrial, commercial, as well as domestic settings. Because of its strong bleaching abilities, it is great for bleaching paper or textiles. It is used in healthcare as an antiseptic agent and antimicrobial agent. It is a great disinfecting and oxidizing agent for food, personal care products, and water purification applications. It is a high-quality cleaning agent for devices. It is also used in the production of detergent bleaches like perborate or sodium perborate. The hydrogen peroxide market is growing because of its real-world application.

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There is a growing demand for hydrogen peroxide in the paper and pulp industries. This bleaching agent can be used to make a wide range of pulp types including chemical, mechanical and recyclable. It is also used to whiten pulps in these industries. Hydrogen peroxide can also be used to re-pulp paper waste, as it has lower bleaching costs and a lighter effluent. Online sales are increasing in the main markets for pulp-and-paper products: the United States and China. This is partly due to the increased demand for innovative packaging, as well as the improved positioning of products on shelves. This is due to an increase in demand for raw materials and corrugated containers.

RESTRAINING FACTORS

Potential Health Hazards May Hinder Product Adoption

The strong oxidizing nature of the chemical can cause severe skin and respiratory problems. Exposure to the chemical for too long can cause skin irritation and eye damage. It can also lead to hair bleaching. It is also not compatible with most raw materials, such as copper alloys and heavy metals. This can lead to self-accelerated thermal decay. To avoid any potential health risks, it should always be stored in a cool and dry place.

Key Market Segments

Function

Disinfectant

Oxidant

Bleaching

Others

Application

Pulp & Paper

Wastewater Treatment

Chemical Synthesis

Food & Beverages

Mining

Healthcare

Personal Care

Textiles

Others

Key Market Players

These are the major players in the global hydrogen peroxide industry:

Taekwang Industrial Co. Ltd.

Evonik Industries AG

Grupa Azoty

Arkema

Akzo Nobel N.V.

Solvay

National Peroxide Limited

Gujarat Alkalis & Chemicals Ltd.

Airedale Chemical

Other Key Players

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Recent Developments

Solvay S.A., a Belgian chemical company, increased its production capacity in Belgium and Finland, Germany, and the Middle East in July 2019 to meet increasing demand from European, Middle East, and African consumers.

Nouryon, a producer of essential chemicals, has begun production in Ningbo (China) in September 2021. This manufacturing plant produces organic peroxides: tertbutyl hydroperoxide and tertbutyl alcohol. In the production of polymers, and composites, organic peroxides are an essential ingredient.

Kemira Oyj, an Estonian chemical company, signed a May 2020 agreement with UPM Kymmene Corporation, a Finnish company in the forest industry, for increased hydrogen peroxide production in Uruguay, South America. This agreement allowed Kemira Oyj to expand its supply of bleaching chemicals in Uruguay, South America.

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