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Growing pulp, paper industry a “major driver” for hydrogen peroxide market size: report
January 4, 2017 By P&PC Staff
Jan. 3, 2017 – According to a recent research report by Global Market Insights, the rising paper and pulp industry will be a major driver for the global hydrogen peroxide market size in the upcoming year, which is forecast to grow at more than 5 per cent, reaching $6.39 billion by 2024.
Applications for brightening of deinked papers will favour industry demand, noted the report, adding that the global paper and pulp industry was worth more than US$550 billion in 2015 and will have a steady growth owing to the increasing flexible packaging material demand in the packaging industry.
Key insights from the report include:
• Global hydrogen peroxide market size is forecast to reach US$6.39 billion by 2024, with estimated gains at 5.7 per cent CAGR.
• Paper and pulp industry accounted for around US$1,550 million of hydrogen peroxide market share in 2015 and will continue to dominate the market throughout the forecast timeframe. This growth is on the account of rising demand of recycled papers and flexible packaging materials.
• Chemical applications were worth more than US$1,300 million in 2015 and will have a “healthy growth” at more than 6 per cent CAGR from 2016 to 2024.
• Asia Pacific registered more than US$2 billion in 2015 and accounted for more than half of the global hydrogen peroxide market share. Strict regulatory norms in North America and Europe will shift the global market towards APAC.
• North America hydrogen peroxide market is anticipated to cross a total revenue of US$1,000 million by 2024.
“With growth of electronic commerce market and ease of home delivery system, the demand for flexible packaging will have a healthy growth. Also, 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.
Electronic grade applications for etching of circuit boards that find application in manufacture of semiconductors, will create a decent window of opportunity for the hydrogen peroxide market.
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,” stated the report.
SOURCE Global Market Insights
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