by Hydrogen peroxide is an inorganic compound that can be used for various applications such as cleaning, disinfection, cosmetics and more. It acts as a bleaching agent and disinfectant owing to its oxidizing properties. Hydrogen peroxide is commonly used in hair lightening products, teeth whitening formulations, acne treatment creams and various other personal care products. The growing skincare and cosmetics industry has increased the demand for hydrogen peroxide.
The global Hydrogen Peroxide Market is estimated to be valued at US$ 5460.19 Mn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
The growing demand from the cosmetics and personal care industry remains the key trend propelling the growth of the hydrogen peroxide market. Hydrogen peroxide is used as an antimicrobial agent in various personal care products such as acne creams, teeth whitening gels, mouthwashes and more. It helps treat acne, prevents microbial growth and whitens teeth. The booming cosmetics industry along with rising awareness about oral and dental care has augmented the consumption of hydrogen peroxide in this sector. In addition, with growing fashion consciousness, demand for hair lightening products has also increased which utilizes hydrogen peroxide. These factors are expected to drive the hydrogen peroxide market growth over the forecast period.
SWOT Analysis
Strength: Hydrogen peroxide is a stable, versatile, eco-friendly chemical with various end-use applications like bleaching, disinfection, pharmaceuticals etc. It is economically viable to produce.
Weakness: High storage and transportation costs due to its unstable and explosive nature if not handled carefully. Vulnerable to catalysts that can decompose it.
Opportunity: Growing demand for eco-friendly chemicals for various applications like wastewater treatment and green healthcare products will boost market opportunities.
Threats: Stringent transportation regulations and availability of substitute chemicals pose threats to market growth.
Key Takeaways
The global Hydrogen Peroxide Market Growth is expected to witness high growth. The global Hydrogen Peroxide Market is estimated to be valued at US$ 5460.19 Mn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030.
Regional analysis comprises Asia Pacific dominates the global market and is expected to grow at the fastest rate during the forecast period. Countries like China, India are major consumers and producers of hydrogen peroxide due to huge manufacturing sectors and growing disinfectant demand.
Key players operating in the hydrogen peroxide market are Novartis AG, Mylan Laboratories Inc., Actavis Generics UK Limited, Sun Pharmaceutical Industries Ltd., Aurobindo Pharma Limited, Zentiva a.s., Sandoz International GmbH, Dr. Reddy’s Laboratories Ltd., Teva Pharmaceutical Industries Ltd., and Accord Healthcare Limited. These companies are focusing on expanding their hydrogen peroxide production capacities and regional footprint to tap the growing market opportunities.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
