Hydrogen Peroxide Market Size to Reach USD 5240.8 Million by 2028 at a CAGR of 3.2% | Valuates Reports

BANGALORE, India, July 7, 2022 /PRNewswire/ -- The Global Hydrogen Peroxide Market is Segmented by Type (Purity 27.5%, Purity 35%, Purity 50%), by Application (Electronics Industry, Paper Industry, Textile Industry, Chemical Industry): Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Chemicals Industry.

Due to the COVID-19 pandemic, the global Hydrogen Peroxide market size is estimated to be worth USD 4338.3 Million in 2022 and is forecast to a readjusted size of USD 5240.8 Million by 2028 with a CAGR of 3.2% during the forecast period 2022-2028.

Major factors driving the growth of the Hydrogen Peroxide market are:

The hydrogen peroxide market is anticipated to increase as hydrogen peroxide is being used in numerous end-user industries, including paper, industry, textiles, electronics, chemical, and water treatment.

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TRENDS INFLUENCING THE GROWTH OF HYDROGEN PEROXIDE MARKET

The increasing application of Hydrogen Peroxide in the paper industry is expected to drive growth. Industrial hydrogen peroxide is used in pulp and paper bleaching to boost brightness levels, improve brightness stability, and lower manufacturing costs. Due to the utilization of hydrogen peroxide, harmful halogenated chemicals and effluents contained in the pulp are reduced to a minimum. The effluent's hue is also lightened in addition. Globally, the paper industry is recycling more waste paper due to cost savings in wood, water, and energy as well as environmental protection.

Hydrogen peroxide is used in the chemical industry to create peroxide compounds such as sodium perborate, sodium percarbonate, and percarboxylic acid. This in turn is expected to drive the growth of the Hydrogen Peroxide market. Hydrogen peroxide is a chemical that is utilized in the study of organic chemistry. It is employed in epoxidation, oxidation, and polymerization processes. Additionally, it is employed in the manufacture of semiconductor chips in ultra-pure form and as a chemical for cleaning and etching.