Albany - New York, Oct. 29, 2015 (GLOBE NEWSWIRE) -- Transparency Market Research has released a new market report titled "Hydrogen Peroxide Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2023." According to the report, the global hydrogen peroxide market was valued at US$3.71 bn in 2014 and is anticipated to reach US$6.04 bn by 2023, expanding at a CAGR of 5.6% between 2015 and 2023.
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Hydrogen peroxide is a simplest form of peroxide, which acts as a strong oxidizing and bleaching agent. It is commercially available in aqueous solution over a wide concentration range. Hydrogen peroxide is widely used for bleaching purposes in the paper & pulp industry. It can be manufactured through various methods. These include hydrolysis of ammonium peroxydisulfate and the anthraquinone process. However, the anthraquinone process is widely preferred owing to its ease and ready availability of raw materials.
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Hydrogen peroxide is inherently environment-friendly; thus, hydrogen peroxide is used in various end-user industries. Hydrogen peroxide does not release any harmful product, it breaks down into water and oxygen. Hydrogen peroxide is increasingly used in the chemical end-user industry for the manufacture of propylene oxide (Hydrogen Peroxide to Propylene Oxide (HPPO)). Demand for hydrogen peroxide is estimated to increase during the forecast period due to rising paper consumption coupled with growing popularity of hydrogen peroxide as a raw material in the manufacture of propylene oxide.
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Hydrogen peroxide is used extensively in the paper & pulp industry. Paper & pulp was the largest end-user segment of the hydrogen peroxide market, accounting for more than 40% share in 2014. Hydrogen peroxide is used for bleaching of chemical, mechanical, and recycled pulp. Usage of hydrogen peroxide helps to achieve brightness suitable for high grade magazine papers, board, and tissue products. Increasing demand for paper and bleaching of pulp is likely to drive the demand for hydrogen peroxide in the paper & pulp segment in the next few years. Chemical, wastewater treatment, and mining segments are also anticipated to hold high share in the hydrogen peroxide market in the near future. Increase in usage of hydrogen peroxide in electronics end-user industry, especially in the semiconductor segment, is likely to augment the demand for hydrogen peroxide in the near future.
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Key players operating in the hydrogen peroxide market include Arkema S.A., Evonik Industries AG, Solvay S.A., Akzo Nobel N.V., Kemira Oyj, Mitsubishi Gas Chemical Company, Inc., PeroxyChem LLC, Aditya Birla Chemicals Limited, Gujarat Alkalies and Chemicals Ltd (GACL), and Kingboard Chemical Holdings Ltd.
The report segments the global hydrogen peroxide market as:
Hydrogen Peroxide Market - End-user Segment Analysis
- Paper & pulp
- Wastewater treatment
- Others (Including textile, electronics, etc.)
Hydrogen Peroxide Market - Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA
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Source:Transparency Market Research