Hydrogen peroxide is a chemical compound that is faintly acidic, colorless, and mixable with water in every proportion. The molecule of the hydrogen peroxide contains two oxygen atoms covalently linked to each other. This chemical compound is utilized in the industries as an oxidizer, disinfectant, and bleacher. Scientifically, hydrogen peroxide in non-combustible chemical, but it has some properties that can react spontaneously when it comes into contact with organic material. It is majorly found in various residences for medicinal application and for bleaching hair. It is considered as safest sanitizer that eliminates the organism by oxidizing them.
Rising number of chemical industries and growing application scope of the hydrogen peroxide is generating a great demand. Personal care and pharmaceutical industry utilize a high quantity of hydrogen peroxide in the manufacturing process and to produce a specific product. This is driving the growth of the global market. Constantly rising demand for paper from the end user is motivating the demand rate which significantly affects the growth of the global hydrogen peroxide market. As per the report, global hydrogen peroxide market was esteemed at USD 3.81 billion Billion in 2015 and is estimated to reach USD 5.19 billion Billion in 2021 and also expected to develop at a CAGR of 5.3% between 2016 and 2021.
The scientist from Stanford University and SLAC National Accelerator Laboratory developed an electrochemical cell that produces hydrogen peroxide from water and oxygen on site. that This can be utilized to oxidize contaminants present in the groundwater that are hazardous for humans to ingest.
Hydrogen peroxide has wide application in various industries. Based on the end user, the global hydrogen peroxide market is segmented as paper and pulp, waste water management, mining, chemical, and many others. Paper and pulp industry is dominating the global market of hydrogen peroxide due to high demand.
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Some of the prominent players that have a huge contribution in the global hydrogen peroxide market through their products and development include Kingboard Chemical Holdings Ltd, Gujarat Alkalies and Chemicals Ltd (GACL), Akzo Nobel N.V., Evonik Industries AG, Arkema S.A., Kemira Oyj, Solvay S.A., Mitsubishi Gas Chemical Company, PeroxyChem LLC, and Aditya Birla Chemicals Limited.