According to the Graphical Research new growth forecast report titled “North America Hydrogen Peroxide Market size will surpass USD 1 billion by 2026”. Growing product demand from end-user industries will fuel industry growth in the region.
The North America hydrogen peroxide market will witness significant growth due to increasing demand and consumption in end-user industries such as chemicals and paper & pulp. The chemical and wastewater industries are expected to grow at a moderate growth rate in the region. The paper & pulp industry is the largest end-user with a demand share of around 40% in the total regional demand. The industry has been witnessing rising growth due to increasing demand from the packaging sector. Furthermore, the product is environmental-friendly as it breaks down into water and oxygen after the reaction. This will support the regional market growth as stakeholders in the region are becoming more environmentally conscious.
Hydrogen peroxide is extensively used in the production of Propylene Oxide (HPPO), flame retardants, organic peroxide initiator, and peracetic acid, among others. It has become an important intermediate chemical for various chemicals, and the chemical industry is witnessing tremendous growth in investments. Rising product demand from wastewater treatment, chemicals, and paper & pulp industries will propel industry growth.
Among all end-user industries, the paper & pulp and chemical industry will collectively dominate the North America hydrogen peroxide market. Hydrogen peroxide has attracted significant demand from the chemical industry due to several applications in the chemical industry. Properties, such as lower molecular weight, solubility in water, and organic solvents, have increased the product demand as an efficient oxidizing agent.
Growth in the chemical industry is greatly propelled by increasing investments along with rising per capita chemical consumption. Growth is likely to continue in the coming years owing to export opportunities for regional chemical manufacturers. High growth prospects of the chemical industry will propel product demand. The region has also witnessed moderate growth in wastewater treatment plants due to the stringent regulatory environment. Increasing number of wastewater treatment plants will create a healthy opportunity for product manufacturers.
Increasing production capacity and establishing new production plants will remain key strategies. For instance, in July 2017, Mitsubishi Gas Chemical Company, Inc. decided to build two new super-pure hydrogen peroxide plants for its subsidiary, MGC Pure Chemicals America, Inc. (MPCA).