Hydrogen peroxide market explores vigorous size by 2024
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Hydrogen peroxide market explores vigorous size by 2024

11:40 AM, 10th February 2017
Hydrogen peroxide
A bottle of hydrogen peroxide. (File photo)

DELAWARE, US: Rising paper & pulp industry is expected to be the major driver for global hydrogen peroxide market size in the upcoming years. Hydrogen Peroxide market is predicted to reach $6.39 billion by 2024, according to a new research report by Global Market Insights Inc.

Applications for brightening of deinked papers will favour industry demand. The global paper & pulp industry was worth more than $550 billion in 2015 and will have a steady growth owing to the increasing flexible packaging material demand in the packaging industry. With a growth of electronic commerce market and ease of home delivery system, the demand for flexible packaging will have a healthy growth. As well, growing awareness about usage of recycled papers will boost demand for de-inked recycled papers.

With the commercialization of hydrogen peroxide propylene oxide or HPPO process to produce propylene oxide using HP as raw material, the global hydrogen peroxide market share is forecast to witness a decent growth in the forecast period, mentioned the report.

Electronic grade applications for etching of circuit boards that find application in the manufacture of semiconductors will create a decent window of opportunity for the hydrogen peroxide market. Companies such as Solvay and Evonik have commercialised the electronics grade variants with several others under R&D.

However, regulations imposed by OSHA regarding industrial exposure will act as a restraint to hydrogen peroxide market growth. Though they have medicinal uses in a minor concentration, multiple applications report in skin related issues. Stringent regulations by bodies including EPA, FDA and REACH will hinder the market growth in North America and Europe, as per the report.

© Chemical Today News

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