The increasing use of Laboratory Grade Hydrogen Peroxide as raw material for propylene oxide production, the increasing demand for Laboratory Grade Hydrogen Peroxide in the semiconductor sector, and the growing demand for wastewater treatment are boosting the Laboratory Grade Hydrogen Peroxide market.
Laboratory Grade Hydrogen Peroxide Market Size – USD 4.30 Billion in 2020, Growth - CAGR of 5.1%, Trends – The elevating emphasis on disinfecting amidst COVID-19 outbreak
The Global Laboratory Grade Hydrogen Peroxide Market is forecast to reach USD 6.41 Billion by 2028, according to a new report by Reports and Data. One of the primary factors supporting the growth of the market is the expansion of the e-commerce, food beverage and pharmaceutical sectors that is resulting in boosting the demand for pulp paper for packaging. The rising awareness about the impact of undertreated disposed waster on the environment has resulted in the elevated deployment of the compound in water purification. The continuous effort of governments of various nations in this region, like India, on enhancing public hygiene by developing different programs like Swachh Bharat Abhiyan also supports the expansion of the market in this region. The formulation of pragmas like Namami Gange Programme, wherein the emphasis is on rejuvenating National River Ganga, also paves new arenas of application for the compound in this region, which would further contribute to the market growth in this region.
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Top Companies: BASF SE, Arkema Group, Dow, Chang Chun Group, Grasim, Evonik Industries AG, Gujarat Alkali and Chemicals Ltd, Guangdong ZhongCheng Chemicals Co. Ltd, Kemira Oyj and Hodogaya Chemical Co. Ltd.
Further Key Finding from the Report Suggestion:
- In context to Dilution Type, the 35 percent H2O2 segment is projected to witness a considerable growth rate of 5.6% during the forecast period. The growth rate witnessed by this segment is attributed to the continuous expansion of the food sector and application of the compound in bleaching wheat flour and processing cheese. The COVID-19 pandemic has resulted in an increased emphasis on the sanitation of food products among consumers to minimize the risk of transmission of the virus from contaminated packages. It has resulted in the growing popularity of the compound in sanitization and eliminating microorganisms from food packaging materials.
- In regards to End-user, the Pulp Paper segment held the largest market share of more than 40.0% in 2020. In the pulp paper industry the compound is used in bleaching of chemical pulp. When the compound is used in pulp paper bleaching it enhances brightness stability, brightness level and minimizes manufacturing cost.
- In regards to Application, the Disinfectant segment is projected to witness a considerable growth rate of 5.9% during the forecast period. The growing awareness about the negative environmental impact of disposing untreated wastewater to water bodies has resulted in the growing demand for the compound in disinfecting the water, wherein it is used to remove organic impurities.
- In November 2018, INDIAN PEROXIDE had launched a new Laboratory Grade Hydrogen Peroxide plant in Dahej, Gujarat. The company is also planning to investment Rs. 750 Cr in next 3–5 years along with expansion of the capacity for other chemical units that would support the new H2O2 plant.
- In February 2020, Mitsubishi Gas Chemical, one of the mentionable market player, has revealed that the company is prepared to construct a new production facility for industrial Laboratory Grade Hydrogen Peroxide in Taiwan. For this expansion the company has an investment of USD 156.6 million.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global Laboratory Grade Hydrogen Peroxide market is segmented into:
Dilution Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- 90% H2O2
- 35% H2O2
- 6 to 10% H2O2
- 3% H2O2
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
End-user Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Pulp Paper
- Wastewater Treatment
- Chemical Synthesis
- Food Beverage
- Cosmetics Healthcare
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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