Europe Hydrogen Peroxide Market

Europe Hydrogen Peroxide Market Size-(2023-2028)

The Europe Hydrogen Peroxide Market size was at US$ 696.6 Million in 2022 and is expected to reach US$ 900.4 Million by 2028, exhibiting a growth rate (CAGR) of 4.2% during 2023-2028. 

Europe Hydrogen Peroxide Market Overview:

Hydrogen peroxide is a pale blue transparent liquid that easily breaks down into water and oxygen. It is unstable and has important uses in host defense and oxidative biosynthesis. In Europe, the demand for hydrogen peroxide has increased in various industries, including oil and gas and water treatment. In its pure form, hydrogen peroxide is pale blue and unstable, decomposing into oxygen and water through an exothermic reaction. To prevent combustion with organic materials, it is stored in a weak acidic solution with a stabilizer. It finds applications as an antiseptic for burns and cuts, a bleaching agent in the paper industry, and sectors like textiles, electronics, healthcare, wastewater treatment, and mining. Hydrogen peroxide is widely used as a bleaching agent in the pulp and paper industry. It helps to whiten and brighten paper products and is an eco-friendly alternative to chlorine-based bleaches. In the textile industry, hydrogen peroxide is used for bleaching and brightening fabrics, yarns, and fibers. It is also utilized as a designing agent to remove starch and sizing agents from textiles.

Europe Hydrogen Peroxide Market Drivers:

The Europe hydrogen peroxide market is growing because of strict environmental laws against chlorine-based bleaches. Hydrogen peroxide is eco-friendly and emission-free, making it demanding in Europe's hydrogen peroxide market. It's a cost-effective chemical used in recycling paper and treating water. It has many applications in industries, homes, and commercial settings. For example, it's used to bleach paper and textiles, as an antiseptic in healthcare, and as a disinfectant in water purification and cleaning products. The paper and pulp industry uses it for bleaching and recycling. Hydrogen peroxide serves as an antiseptic and disinfectant in the healthcare sector. It is commonly used to clean wounds, cuts, and burns to prevent infections. It is employed in water treatment processes to remove impurities, odors, and contaminants from water. It acts as an oxidizing agent and helps in the removal of organic compounds and bacteria. Food-grade hydrogen peroxide is utilized for various applications in the food industry, such as disinfecting equipment, preserving food quality, and enhancing food safety. In the mining industry, hydrogen peroxide is used as an oxidizer in the extraction of certain metals and minerals. The Europe hydrogen peroxide market demand for online shopping has also increased, leading to more packaging and recycling needs.

Europe Hydrogen Peroxide Market Restraints:

Hydrogen peroxide can be harmful to human health and is considered carcinogenic. If it comes into contact with the eyes, it can cause permanent vision loss, and on the skin, it can lead to painful blisters, burns, and whitening of the skin. It should be handled with care. Because of these risks, strict regulations have been put in place by agencies like OSHA, FDA, REACH, and EPA to control its use. The FDA warned against using highly concentrated hydrogen peroxide for medicinal purposes. The strong oxidizing properties of hydrogen peroxide can be harmful to the skin, eyes, and respiratory system. It can also cause hair bleaching and irritation. It reacts with certain materials, so it needs to be handled and stored carefully to prevent health risks. As hydrogen peroxide has side effects and needs much careful handling, these factors hinder the growth of the Europe hydrogen peroxide market.

Europe Hydrogen Peroxide Market Opportunities

Hydrogen peroxide is used as a bleaching and antibacterial agent in various applications, such as making cheese and instant tea. It's also approved for sterilizing in aseptic packing. To meet the growing demand, companies are creating new grades of hydrogen peroxide. For example, Arkema SA introduced Valsterane S-HP with different concentrations for spray aseptic packing. In the electronics industry, high-purity hydrogen peroxide solutions are used for cleaning electronic components. Innovations in hydrogen peroxide usage, like the V-PRO 60 sterilization system, are supporting Europe's hydrogen peroxide market growth. The adoption of hydrogen peroxide in electronic applications is also increasing, leading to more investment in ultra-pure grades for electronic substrates.

EUROPE HYDROGEN PEROXIDE MARKET REPORT COVERAGE:

Impact Of COVID-19 on Europe Hydrogen Peroxide Market

The COVID-19 pandemic has negatively affected the demand for hydrogen peroxide in various industries like pulp & paper, chemical synthesis, food processing, textiles, water & wastewater treatment, and electronics & semiconductors. Many industries had to pause their operations temporarily during the pandemic, leading to reduced use of hydrogen peroxide in bleaching and oxidizing processes. As there was a lockdown in the whole country, so there was a disruption in the supply chain and manufacturing process. So the growth of Europe's hydrogen peroxide market was slowed down. However, as industries start to recover, the demand for hydrogen peroxide is expected to increase again, especially in the paper and pulp industry and other sectors that use it for different purposes. 

Key Developments Europe Hydrogen Peroxide Market

• In May 2022, Solvay S.A. invested in Suanfarma's Cipan manufacturing facility in Lisbon to improve its biotechnology capabilities using natural components.

• In May 2022, Solvay S.A. launched a new platform for renewable materials and biotechnology to create eco-friendly products for various industries by using renewable resources.

• In April of 2022, the expansion of semiconductor package production capacity at MGC Electrotechno Co. Ltd.'s manufacturing facility in Thailand was completed by Mitsubishi Gas Chemical Company.

Market Segmentation

Europe Hydrogen Peroxide Market-By Application 

• Chemical SynthesisBleaching

• Disinfectant

• Cleaning

• Etching

Europe Hydrogen Peroxide Market-By End-Use 

• Pulp and Paper

• Food and Beverages

• Water Treatment

• Textiles and Laundry

• Oil and Gas

• Healthcare

• Electronics

The pulp and paper segment dominates the Europe hydrogen peroxide market This process increases the paper's brightness while emitting low levels of halogenated compounds. Additionally, hydrogen peroxide is exclusively used in the sulfite pulp brightening process, further boosting market growth. The healthcare and personal care sector is also expected to experience significant growth due to the increased production of sanitization and disinfection products by multinational corporations in response to the global pandemic. As consumers become more aware of the importance of these products in daily life, demand is likely to increase over an extended period. 

Europe Hydrogen Peroxide Market-By Region 

• Germany
• France
• United Kingdom
• Italy
• Spain

Germany is a dominant player in the Europe hydrogen peroxide market because it has a strong industrial base and diverse manufacturing sectors. This creates a high demand for hydrogen peroxide in different applications such as pulp and paper, textiles, electronics, healthcare, and water treatment. In the textile industry, hydrogen peroxide is used to make fabrics, yarns, and fibers brighter and remove starch and sizing agents. In healthcare, it acts as a disinfectant to clean wounds and prevent infections. Water treatment processes use hydrogen peroxide to remove impurities, odors, and bacteria from water. The electronics industry uses it for cleaning and etching during the production of semiconductors and electronic components.

Key Market Players in the Europe Hydrogen Peroxide market

• Solvay S.A. (Belgium)

• Evonik Industries AG (Germany)

• Arkema (France)

• Nouryon (Netherlands) 

• Taekwang Industrial Co. (South Korea)