Saudi Arabia Hydrogen Peroxide Market to Expand at Steady CAGR of 4.71% During 2023–2029

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Saudi Arabia Hydrogen Peroxide Market

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Saudi Arabia hydrogen peroxide market to grow at a CAGR of 4.71% during the forecast period between 2023 and 2029. Major growth factors of Saudi Arabia hydrogen peroxide market include increasing demand from end-use industries, supply and demand dynamics, rising government regulations, and rapid technological advancements. One of the major drivers of the market is the growing demand for pulp and paper products, which is expected to continue to drive the demand for hydrogen peroxide in the region. The expansion of the textile industry is also expected to contribute to the growth of the market. The market is impacted by supply and demand dynamics, with fluctuations in the availability of raw materials and the production capacity of manufacturers affecting the prices and availability of hydrogen peroxide in the market. The government of Saudi Arabia is supporting the growth of the chemical industry in the country, which is expected to benefit the hydrogen peroxide market as well. The government is providing incentives and subsidies to attract foreign investments in the chemical industry, which is expected to boost the production of hydrogen peroxide in the country. Technological advancements also impact the market, with manufacturers investing in research and development to improve the efficiency and safety of hydrogen peroxide production processes. However, availability of substitute products such as chlorine and peracetic acid is anticipated to hinder the growth of overall market during the period in analysis.

Saudi Arabia Hydrogen Peroxide Market – Overview

The hydrogen peroxide market in Saudi Arabia refers to the demand, supply, and trade of hydrogen peroxide in the country. Hydrogen peroxide is a pale blue liquid that is widely used for various industrial and consumer applications. It is a powerful oxidizing agent and disinfectant that is commonly used in the production of pulp and paper, textiles, and electronics. It is also used in the medical and dental industries as a topical antiseptic and teeth whitener. The Saudi Arabia hydrogen peroxide market is characterized by the production, distribution, and consumption of hydrogen peroxide in different grades, such as technical grade and food grade. The market is expected to benefit from the growing trend towards eco-friendly chemicals and the increasing use of hydrogen peroxide as a substitute for chlorine-based products. In order to support downstream Propylene Oxide (PO) manufacturing, which is a key ingredient for the production of Polyurethane foams, Saudi Arabia is investing significantly to increase its Hydrogen Peroxide capacity. Given the substantial market potential in the country, top peroxide manufacturers worldwide are considering expanding their capacity in Saudi Arabia over the next four years.

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Impact of COVID-19 on Saudi Arabia Hydrogen Peroxide Market

The global economy was adversely affected by COVID-19 in 2020, resulting in a significant disruption of market growth and widespread shutdowns of production facilities. As a measure to safeguard the health and well-being of employees, major industry players intentionally ceased their production activities. However, with the implementation of new COVID-19 regulations and safety protocols, the market is expected to regain its growth trajectory in the coming years. Once production facilities are fully functional, the market is projected to experience robust growth in the forecast period. There is an optimistic outlook for potential investments in the market, with steady growth projected during the forecast period.

Saudi Arabia Hydrogen Peroxide Market – By Application

Based on application, Saudi Arabia hydrogen peroxide market is divided into Oxidant, Disinfectant, Bleaching, and Water Treatment segments. The bleaching segment held the highest market share. Hydrogen peroxide is widely used as a bleaching agent in various industries including pulp and paper, medical, and textiles. In the medical sector, the product is utilized as a dental bleach, mouthwash, for hair bleaching, and maintaining oral hygiene. While in the textiles industry, it is extensively used to brighten clothes, remove stains from both natural and synthetic fibers, and enhance the mechanical properties of fibers in the manufacturing process. On the other hand, the disinfectant segment is expected to grow at a faster CAGR in terms of volume during the forecast period. This is due to the high demand for the product in the manufacturing of various cleaning agents and hygiene products. COVID-19 pandemic in 2020 led to an increased demand for disinfectants, such as floor and glass cleaners, and hand sanitizers, which resulted in a surge in the consumption of hydrogen peroxide as a disinfectant across the globe. The trend is expected to continue in the future.

Competitive Landscape

Major players operating in Saudi Arabia hydrogen peroxide market include Sadara Chemical Company, Arabian Industrial Fibers Company (Ibn Rushd), Saudi International Petrochemical Company (Sipchem), National Peroxide Limited, Gulf Peroxide Limited, FMC Corporation, Arkema SA, Evonik Industries AG, Solvay SA, and PeroxyChem LLC. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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