Hydrogen peroxide is used in chemical synthesis as a reactant in various chemical reactions. The chemical is used to produce other chemicals, including propylene oxide and epichlorohydrin. The demand for hydrogen peroxide in chemical synthesis is expected to increase due to the growing demand for chemicals worldwide. The Asia-Pacific region is expected to dominate the Hydrogen Peroxide Market during the forecast period. The region accounted for the largest share of the market in 2020, and the trend is expected to continue due to the increasing demand for paper products and the growing chemical industry in the region. The demand for hydrogen peroxide in the region is also expected to increase due to the growing demand for clean water and the increasing need to comply with environmental regulations.
Hydrogen peroxide is also used in water treatment applications, including municipal water treatment and wastewater treatment. The chemical is used as a disinfectant to kill bacteria and viruses in water. The demand for hydrogen peroxide in water treatment is expected to increase due to the growing demand for clean water and the increasing need to comply with environmental regulations.
The healthcare industry, pulp and paper industry, textile industry, wastewater treatment industry, and food industry are the major drivers for the growth of the market. However, the hazardous nature of hydrogen peroxide, availability of substitutes, fluctuating prices of raw materials, environmental concerns, and stringent regulations are the major restraints for the growth of the market.
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