The North America Hydrogen Peroxide Market would witness market growth of 5.0% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 1,048.72 kilo tonnes, showcasing a growth of 4.5% (2019-2022).
Hydrogen peroxide has applications in agriculture, where it is used for soil treatment and as an environmentally friendly alternative for crop protection. Its role in promoting soil health and preventing diseases showcases its versatility beyond traditional industrial applications. Hydrogen peroxide acts as a natural antifungal and antibacterial agent. Its use in agriculture helps control various pathogens in the soil that can negatively impact plant health. By reducing the presence of harmful microorganisms, hydrogen peroxide contributes to preventing diseases and improving the overall well-being of crops. Seeds treated with hydrogen peroxide can benefit from enhanced germination rates and protection against soil-borne pathogens.
Furthermore, green chemistry principles, emphasizing the design of products and processes that minimize environmental impact, have influenced the hydrogen peroxide market. Industries are adopting hydrogen peroxide as part of their commitment to green chemistry practices, thereby driving market growth. A major emphasis on hygiene and disinfection, accentuated by events such as the COVID-19 pandemic, has increased demand for hydrogen peroxide-based disinfectants. These products are widely used for surface disinfection in homes, healthcare facilities, and public spaces.
The food and beverages sector in the United States has been a significant contributor to the economy and has shown continuous growth over the years. Hydrogen peroxide is used as a disinfectant and bleach in various food processing industries. According to the Annual Survey of Manufactures conducted by the Bureau of the Census of the U.S. Department of Commerce, these facilities constituted 16.8 percent of total sales in 2021. Thus, North America's rising food and beverage sector and water treatment initiatives will increase demand in the hydrogen peroxide market.
The US market dominated the North America Hydrogen Peroxide Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $788.4 Million by 2030. The Canada market is experiencing a CAGR of 7.4% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 6.4% during (2023 - 2030).
Based on Application, the market is segmented into Pulp & Paper, Chemical Synthesis, Wastewater Treatment, Mining, Food & Beverages, Healthcare, Personal Care, Textiles, and Others. Based on Function, the market is segmented into Bleaching, Disinfectant, Oxidant, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Hydrogen Peroxide Market is Predict to reach $4.5 Billion by 2030, at a CAGR of 5.2%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Evonik Industries AG (RAG-Stiftung), TAEKWANG Industrial Co., ltd., Arkema S.A., Grupa Azoty S.A., Solvay SA, Akzo Nobel N.V., Gujarat Alkalies and Chemicals Limited, Mitsubishi Gas Chemical Company, Inc., OCI Company Ltd., Airedale Chemical Holdings Limited.
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Function (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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