According to the Graphical Research new growth forecast report titled “APAC Hydrogen Peroxide Market size will surpass USD 3.3 billion by 2026”. High product demand in the pulp & paper industry. It is used for bleaching of cellulose, bleaching of wood pulp, and in the recycling process of paper.
The paper & pulp segment will account for approximately 39% share of the overall market during the forecast time period. Paper & pulp is one of the major end-user segments of the overall APAC hydrogen peroxide market. The paper & pulp industry employs hydrogen peroxide for three major applications, bleaching of cellulose, beaching of wood pulp, and for recycling of paper. The growing demand for paper & pulp in the packaging industry across the globe will have a positive impact in the overall APAC hydrogen peroxide market during the assessment period. Moreover, more and more emphasis on paper recycling to protect the environment has surged the demand for recycled paper products, in turn, contributing to the overall market revenue. High-grade hydrogen peroxide aids in the improvement of stability & brightness in pulp and reduces production cost, in turn, making the product highly desirable in the paper & pulp industry across the region. However, the COVID-19 had a major effect on the overall paper demand across the globe, which is anticipated to take its normal course in the coming years.
Asia Pacific raw material production output will be moderately affected owing to the coronavirus pandemic. Small to medium-scale manufacturers in China had to extract higher price on raw material supplies for domestic as well as export markets. This is owing to the disruption in the ecosystem created by the COVID-19 outbreak. Further, the Chinese output is expected to remain flat by the end of 2020. The country being one of the major producers of hydrogen peroxide in the region will be largely hit by the disruption of supply chain due to the imposition of lockdown in the region. However, since the manufacturers in the region mostly rely on domestic raw material supply, the impact should be moderately low compared to other regions.
Hydrogen peroxide is used as an oxidant in the mining industry. It is used in the production process of elements, such as gold and uranium, and simplifies chemical management. Hydrogen peroxide aids in the improvement of the overall process control and is used in various steps of the metallurgical process. It is also used for effluent treatment in various mines. The product effectively removes cyanides from waste streams such as discharge water or tailing slurries. The mining segment held a market share of over 4% in 2019 and is anticipated to exhibit similar trends throughout the assessment period.
Strong growth indicators in the pulp & paper industry shall be the prime factors driving the APAC hydrogen peroxide market growth over the forecast period. The product market revenue shall witness a rise in the coming years due to the surge in demand from chemical and mining industries, which is one of the major revenue generators of the product. Moreover, the increasing investment in wastewater treatment across various nations will also propel the demand for hydrogen peroxide owing to its excellent disinfectant properties. However, the health and environmental effects relating to the prolonged exposure of the product are anticipated to be major factors restraining the market throughout the assessment period.
The APAC hydrogen peroxide market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2026 for the following segments:
APAC Hydrogen Peroxide Market, By Industry
- Paper & Pulp
- Wastewater Treatment
The above information is provided on a country basis for the following:
- South Korea