The global hydrogen peroxide market was valued at USD 1.44 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.7% from 2021 to 2028. This growth is primarily driven by the increasing demand for hydrogen peroxide, especially from industries such as healthcare, pulp and paper, and food processing. A key factor fueling the market's expansion is the growing recognition of hydrogen peroxide's versatile applications, including its role as an effective disinfectant, antiseptic, and bleaching agent.

Healthcare Demand

One of the primary drivers of hydrogen peroxide market growth is the healthcare industry's demand for the substance due to its antiseptic properties. Hydrogen peroxide has long been used as a topical antiseptic for treating cuts and bruises. It works by releasing oxygen, which causes the characteristic foaming action when applied to a wound. This foaming helps to cleanse the wound by removing dead tissue and debris, while also protecting the injury from infection. The product is also commonly used in oral care as a mouth rinse, where it helps to relieve mouth irritation, mucous membrane inflammation, and oral infections. In addition to its traditional applications, hydrogen peroxide is increasingly being used in sanitizing products, where its ability to act as a disinfectant is valued for its effectiveness against a wide range of harmful microorganisms, including viruses and bacteria.

As the global demand for disinfectants and sanitizers continues to rise, especially due to the heightened focus on hygiene in the wake of the COVID-19 pandemic, hydrogen peroxide is expected to remain a key component in sanitization products. For example, disinfectants often contain hydrogen peroxide concentrations of 3% to 4%, combined with other active ingredients like peroxyacetic acid, isopropyl alcohol, and chlorine dioxide, to enhance their disinfecting properties.

In fact, according to the Center for Biocide Chemistries, the demand for hydrogen peroxide in sanitizing and disinfecting applications is expected to remain robust for the foreseeable future, given its proven ability to provide resistance against a wide range of microorganisms.

Gather more insights about the market drivers, restrains and growth of the Hydrogen Peroxide Market

Application Segmentation Insight

Pulp and Paper Industry

In 2020, the pulp and paper sector dominated the hydrogen peroxide market, accounting for 34.2% of the total market share by volume. Hydrogen peroxide is widely used in this industry because it is a chlorine-free bleaching agent. The substance is favored over chlorine-based bleach in paper production due to its environmentally friendly nature and ability to improve both the mechanical and chemical properties of pulp. This enhances the brightness and quality of paper products, making hydrogen peroxide an essential component in paper manufacturing.

As the demand for paper products continues to grow, driven by increased consumption in packaging, printing, and other sectors, hydrogen peroxide is likely to remain a key ingredient in the pulp and paper industry's production processes.

Healthcare Industry

The healthcare sector is expected to experience the fastest growth in hydrogen peroxide demand over the forecast period, with significant expansion anticipated in sanitization and disinfection products. The COVID-19 pandemic heightened awareness of hygiene and sanitation practices, driving demand for disinfecting agents that are effective against pathogens. As a result, hydrogen peroxide-based products are seeing sustained demand, particularly in the development and manufacturing of sanitizing agents, disinfectants, and surface cleaning products.

The pandemic also sparked widespread adoption of personal hygiene products, which rely on hydrogen peroxide for its antimicrobial properties. The demand for products like disinfectant wipes, surface cleaners, and hand sanitizers has significantly increased, and this trend is expected to continue for the foreseeable future as awareness of cleanliness and infection control remains high.

Wastewater Treatment

Hydrogen peroxide also plays a significant role in the wastewater treatment industry. It is widely used due to its ability to effectively reduce Chemical Oxygen Demand (COD) and Biological Oxygen Demand (BOD) in wastewater, both of which are indicators of water contamination. The substance works through a chemical oxidation process, which breaks down organic pollutants in the water. This makes hydrogen peroxide an important tool in water treatment plants for reducing the levels of toxic effluents, thus making water safer for consumption and the environment.

Food and Beverage Processing

Hydrogen peroxide also enjoys substantial demand in the food and beverage processing industry. It is used for its biological degradability and chemical properties that make it suitable for food safety applications. Hydrogen peroxide can be used as a whitening agent for food products, such as flour, and helps to extend the shelf life of food by protecting against microbial degradation.

For instance, companies like Evonik are focusing on developing enhanced formulations of hydrogen peroxide for the food processing industry. These formulations are tailored to improve product properties, such as preserving the freshness of food items while preventing spoilage from microorganisms. This makes hydrogen peroxide an essential ingredient for food manufacturers who are striving to meet the growing demand for longer-lasting, safe, and high-quality food products

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