Hydrogen Peroxide Global Market Report 2024

The hydrogen peroxide market size has grown strongly in recent years. It will grow from $3.26 billion in 2023 to $3.47 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The increase observed in the historical period can be ascribed to the demand from the pulp and paper industry, applications in wastewater treatment, usage in the textile industry, manufacturing of consumer products, and applications in the medical and healthcare sectors.

The hydrogen peroxide market size is expected to see strong growth in the next few years. It will grow to $4.6 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The expansion anticipated in the forecast period can be linked to growing environmental concerns, a focus on water and wastewater treatment, a rising demand for eco-friendly bleaching agents, expanding healthcare and pharmaceutical applications, advancements in hydrogen peroxide production, and bioremediation and environmental cleanup. Major trends projected for the forecast period encompass increasing demand for eco-friendly applications, a growing focus on sustainable production, a surge in healthcare applications, innovations in packaging and storage, increased usage in the food and beverage industry, and technological advancements in production.

The hydrogen peroxide market is witnessing growth due to the increasing demand for environmentally friendly solutions. Hydrogen peroxide, known for its disinfectant properties, is cost-effective and recyclable. In March 2022, a survey revealed that 80% of US consumers prioritize sustainability, with 70% willing to pay more for eco-friendly solutions. This heightened demand for environmentally friendly products is propelling the hydrogen peroxide market.

The hydrogen peroxide market is poised for growth due to the increasing adoption of hygiene practices. Hygiene practices involve behaviors and actions that individuals and communities undertake to maintain cleanliness and prevent the spread of diseases. Hydrogen peroxide's potent oxidizing and disinfecting properties make it valuable for hygiene applications in households and healthcare settings. An online survey conducted in August 2023 by the Food Safety Information Council revealed an enhanced handwashing habit among young individuals. This demonstrated a positive shift in hygiene practices, with 66.6% of 18- to 34-year-olds consistently washing their hands before food handling, an improvement from 57% in the previous year. Consequently, the growth of the hydrogen peroxide market is driven by increasing hygiene practices.

The hydrogen peroxide market is being shaped by the increasing adoption of H2O2 in diverse applications, particularly in the food and electronics sectors. Solvay, a supplier of high-purity hydrogen peroxide to the European semiconductor market, exemplifies this trend. In March 2021, Solvay built a new Electronic Grade production facility to produce high-purity H2O2, meeting the quality and volume requirements of the semiconductor industry. This underscores the crucial role hydrogen peroxide plays in semiconductor chip production.

Major companies in the hydrogen peroxide market are also prioritizing partnerships to enhance their market profitability. Partnerships involve collaborative agreements or alliances between different entities, such as companies, organizations, or research institutions, with shared interests in hydrogen peroxide-related projects. In October 2023, US-based chemical company Dow Inc. partnered with Germany-based specialty chemicals company Evonik Industries AG to establish a pilot facility for hydrogen peroxide-based propylene glycol (HPPG) manufacturing. This facility utilizes the HYPROSYN technique, enabling direct synthesis of propylene glycol from hydrogen peroxide and propylene. Departing from traditional multi-step processes, HYPROSYN consolidates critical reaction phases in a single reactor, eliminating the need for additional investments in propylene oxide capacity and reducing capital requirements. The Dow and Evonik partnership exemplifies their commitment to innovative solutions and sustainable practices in essential chemicals manufacturing.

In December 2023, Germany-based specialty chemicals company Evonik Industries AG acquired Thai Peroxide Co. Ltd. for an undisclosed sum. This strategic move enhances Evonik's presence and capabilities in the Asia Pacific region, particularly in the hydrogen peroxide and peracetic acid specialties business. Thai Peroxide Company Limited (TPL) is a Thailand-based manufacturer of hydrogen peroxide and peracetic acid.

Major companies operating in the hydrogen peroxide market report are Dow Inc., Hodogaya Chemical Co. Ltd., 3M Company, Merck KGaA, OCI Company Ltd., Evonik Industries AG, Reckitt Benckiser Group PLC, Grupa Azoty, Solvay SA, AkzoNobel N.V., Arkema SA, Kingboard Holdings Limited, FMC Corporation, Nouryon N.V., Aditya Birla Chemicals Limited, Huatai Group, Gujarat Alkalies And Chemicals Ltd., Mitsubishi Gas Chemical Company Inc., Kemira Oyj, Chang Chun Group Co. Ltd., Hansol Chemical, PeroxyChem LLC, National Peroxide Ltd., EkO Peroxide LLC, Guangdong Zhongcheng Chemicals, Indian Peroxide Limited, Thai Peroxide Co. Limited., PDI Healthcare Inc., Laboratorium Dr. Deppe GmbH.

Asia-Pacific was the largest region in the hydrogen peroxide market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hydrogen peroxide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the hydrogen peroxide market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of hydrogen peroxide serve various functions such as bleaching, oxidizing, sterilizing/disinfecting, propulsion, and others. Bleaching, which involves removing natural color from fabrics, is carried out using chemicals chosen based on the fiber's chemical makeup. Hydrogen peroxide is utilized across industries such as pulp and paper, chemical synthesis, healthcare, personal care, food processing, textiles, water and wastewater treatment, electronics, semiconductors, and other end-users.

The hydrogen peroxide market research report is one of a series of new reports that provides hydrogen peroxide market statistics, including hydrogen peroxide industry global market size, regional shares, competitors with a hydrogen peroxide market share, detailed hydrogen peroxide market segments, market trends and opportunities, and any further data you may need to thrive in the hydrogen peroxide industry. This hydrogen peroxide market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The hydrogen peroxide market consists of sales of hydrogen peroxide which is used as antiseptic and sterilizer. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.


The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.