Market Trends of Hydrogen Peroxide Industry
Increasing Demand for the Paper and Pulp Industry
- In the paper and pulp industry, hydrogen peroxide is widely used as a bleaching agent to manufacture various types of fibers, including mechanical, chemical, or recyclable.
- In these industries, hydrogen peroxide is also used to optimize the bleaching of the pulp. As it helps reduce bleaching costs and decrease the color of effluents, hydrogen peroxide is also used to recirculate waste paper over another bleaching agent.
- An increase in online sales in the leading pulp and paper products markets, namely the United States and China, is partly due to the need for package innovation to improve product placement on shelves due to online shopping. Improved demand for raw materials and cardboard boxes is the reason for this increase.
- According to Brazilian paper and pulp company Suzano Papel e Celulose estimates, global pulp consumption will be valued at around 476 million metric tons by 2032.
- The United States stands to be the world’s second-largest paper-producing country. The United States, China (the world’s largest), and Japan (the third largest) account for more than half of the world’s total paper production. Several major paper manufacturers, like International Paper, Georgia-Pacific, Westrock, etc., operate in the country. The pulp and paper industry in the United States produces more than 70 million tons of paper and board yearly, as per the FAO data.
- The market for paper and paper products in India is estimated to reach USD 13.4 billion by 2024. This opens opportunities for the market during the forecast period.
- Therefore, the demand for paper and pulp is expected to increase due to all these trends, and it is also predicted that there will be an increased demand for hydrogen peroxide in the coming years.
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The Asia-Pacific Region is expected to Dominate the Market
- Asia-Pacific, India, and China are the significant countries observing significant growth, and this trend is likely to be sustained during the forecast period.
- According to data released by the National Bureau of Statistics of China, the production of processed paper and cardboard in 2023 increased by about 5.89% and was valued at 145.31 million metric tons.
- According to the data released by the China Pulp and Paper Annual Report 2022, the total output of the pulp, paper, and paper products industry increased by 1.32% and was valued at 283.91 million tons.
- The cosmetics and personal care industry is one of the fastest-growing sectors in the country. Moreover, China is the world’s second-largest personal care products market due to increasingly sophisticated consumers, a large middle-class section of people, and continuous growth in population, which is another factor fueling the demand for personal care and skin care products.
- According to the National Bureau of Statistics of China, the cumulative retail value of cosmetic products in 2023 increased by about 7.09% and was valued at CNY 2,588.53 billion (~USD 366.28 billion).
- China has the largest electronics industry in the world. Consumer electronic products, such as smartphones, OLED TVs, and tablets, account for the highest growth in the market. According to data from the General Office of the State Council Operation, fixed-asset investment in China's electronic information manufacturing industry increased by about 9.3% Y-o-Y in 2023.
- India's share in global paper consumption is growing owing to the continuous rise in local demand. The demand for products such as tissue paper, filter paper, tea bags, lightweight online coated paper, and medical-grade coated paper, along with packaging of FMCG products marketed through organized retail, is expected to drive the paper and paper products market in India in the coming years.
- The Indian food industry is one of the prominent industries in the country. The increasing population is another factor boosting the demand for the food industry, which, in turn, is estimated to boost India's water treatment chemicals market. The Ministry of Food Processing Industry has sanctioned 42 mega food parks located in 24 states of India, and they are in different stages of implementation.
- Hence, with all such applications and robust demand in the region, Asia-Pacific is expected to be the largest market during the forecast period.
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