Market Size of North America Hydrogen Peroxide Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 3.00 % |
Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
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North America Hydrogen Peroxide Market Analysis
The North American hydrogen peroxide market is estimated to reach 900 kilotons by the end of this year and is projected to reach 1080 kilotons in the next five years, registering a CAGR of 3.74% during the forecast period.
The market was negatively impacted by the COVID-19 pandemic because of nationwide lockdowns and social distancing mandates, which caused supply chain disruptions. However, the demand remained intact primarily due to the need for sanitization and the growing use of chemicals in pharmaceutical and healthcare facilities. Currently, the market has recovered from the negative impacts of the COVID-19 pandemic and is growing at a significant rate.
- Over the short term, the increasing utilization in the paper and pulp industry and demand from the electronics and semiconductor industry are major factors that would drive the growth of the market studied.
- However, health hazards associated with long-term exposure to hydrogen peroxide are likely to restrain the growth of the market studied.
- Nevertheless, the expansion of existing hydrogen peroxide plant capacities in the upcoming years is likely to create lucrative growth opportunities for the North American market.
- The United States represents the largest market for hydrogen peroxide over the forecast period due to the presence of a large number of paper and pulp companies, which will significantly contribute to the growth of this industry.
North America Hydrogen Peroxide Industry Segmentation
Hydrogen peroxide is a colorless liquid at room temperature with a bitter taste. Small amounts of gaseous hydrogen peroxide occur naturally in the air. Hydrogen peroxide is unstable, decomposing readily to oxygen and water with the release of heat. Although nonflammable, it is a powerful oxidizing agent that can cause spontaneous combustion when it comes in contact with organic material.
The market is segmented by product function, end-user industry, and geography. By product function, the market is segmented into disinfectant, bleaching, oxidant, and other product functions (antiseptic, dishwasher, vegetable wash). By end-user industry, the market is segmented into pulp and paper, chemical synthesis, wastewater treatment, mining, food and beverage, cosmetics and healthcare, textiles, and other end-user industries (electronics, packaging). The report also covers the market size and forecasts for the North American hydrogen peroxide market for 3 major countries. For each segment, the market sizing and forecasts are provided in terms of volume (tons).
Product Function | |
Disinfectant | |
Bleaching | |
Oxidant | |
Other Product Functions (Antiseptic, Dishwasher, Vegetable Wash) |
End-user Industry | |
Pulp and Paper | |
Chemical Synthesis | |
Wastewater Treatment | |
Mining | |
Food and Beverage | |
Cosmetics and Healthcare | |
Textiles | |
Other End-user Industries (Electronics, Packaging) |
Geography | |
United States | |
Canada | |
Mexico |
North America Hydrogen Peroxide Market Size Summary
The North American hydrogen peroxide market is experiencing a recovery and growth trajectory following the disruptions caused by the COVID-19 pandemic. The demand for hydrogen peroxide has remained robust, driven by its essential role in sanitization and its increasing application in pharmaceutical and healthcare sectors. The market is further bolstered by the rising utilization of hydrogen peroxide in the paper and pulp industry, where it serves as an effective bleaching agent, enhancing paper quality while being environmentally friendly. The electronics and semiconductor industries also contribute to market expansion, as hydrogen peroxide is used for cleaning and etching processes. Despite potential health hazards associated with long-term exposure, the market is poised for growth, supported by the expansion of hydrogen peroxide production capacities in the region.
The United States is expected to dominate the North American hydrogen peroxide market due to its substantial presence in end-user industries and high per capita consumption of related products. The country's robust paper industry, coupled with its significant export of paper products, drives the demand for hydrogen peroxide. Additionally, the textile and electronics industries in the United States further propel market growth, with hydrogen peroxide being utilized for bleaching and cleaning applications, respectively. The government's investment in semiconductor manufacturing and innovation, as part of the CHIPS and Science Act, also supports the market's expansion. The market is characterized by a consolidated structure, with major players like Arkema, Evonik Industries AG, and Solvay actively investing in new facilities to meet the growing demand.
North America Hydrogen Peroxide Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Utilization in the Paper and Pulp Industry
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1.1.2 Demand from the Electronics and Semiconductor Industry
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1.1.3 Other Drivers
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1.2 Restraints
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1.2.1 Health Hazards Associated with Long-term Exposure of Hydrogen Peroxide
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1.2.2 Other Restraints
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1.3 Industry Value-Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 Product Function
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2.1.1 Disinfectant
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2.1.2 Bleaching
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2.1.3 Oxidant
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2.1.4 Other Product Functions (Antiseptic, Dishwasher, Vegetable Wash)
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2.2 End-user Industry
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2.2.1 Pulp and Paper
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2.2.2 Chemical Synthesis
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2.2.3 Wastewater Treatment
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2.2.4 Mining
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2.2.5 Food and Beverage
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2.2.6 Cosmetics and Healthcare
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2.2.7 Textiles
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2.2.8 Other End-user Industries (Electronics, Packaging)
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2.3 Geography
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2.3.1 United States
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2.3.2 Canada
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2.3.3 Mexico
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North America Hydrogen Peroxide Market Size FAQs
What is the current North America Hydrogen Peroxide Market size?
The North America Hydrogen Peroxide Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in North America Hydrogen Peroxide Market?
Arkema, Evonik Industries AG, FMC Corporation, Chang Chun Group and Solvay are the major companies operating in the North America Hydrogen Peroxide Market.