The South Korea Hydrogen Peroxide market demand stood at 90 thousand tonnes in 2023 and is expected to grow at a CAGR of 3.15% during the forecast period until 2033.
Hydrogen peroxide, known for its powerful oxidizing attributes, is a versatile substance with extensive utility across diverse industries. In the paper and pulp domain, it functions as a robust bleaching agent, elevating brightness levels, ensuring stability. Its significance extends to wastewater treatment, where it plays a pivotal role as an oxidizing agent, contributing to the reduction of both biochemical and chemical oxygen demand. Concurrently, in the textile industry, hydrogen peroxide distinguishes itself as a widely employed bleaching agent for natural fibers. Recognized for its cost-effectiveness in industrial processes, its applications expand into sectors like electronics, where it serves as a potent oxidizer in the etching process of printed circuit boards. Embraced by the semiconductor industry for its exceptional cleaning capabilities, hydrogen peroxide emerges as a valuable solution in manufacturing processes. It is employed to produce solar cells and battery recycling processes. In essence, hydrogen peroxide proves to be a versatile and indispensable element with multifaceted applications across a spectrum of industries.
The Hydrogen Peroxide sector in South Korea is shaped by diverse end-use segments, with the electronics industry standing out as a key catalyst for market dynamics. Particularly in electronics, Hydrogen Peroxide serves as a potent oxidizer, playing a pivotal role in intricate processes such as etching printed circuit boards and underscoring its essential contribution to various manufacturing procedures. Notably, the semiconductor industry has embraced Hydrogen Peroxide for its exceptional cleaning capabilitiesThe South Korean government is prioritizing the semiconductor industry, aiming for advanced chip manufacturing, a move that is expected to boost the growth of the Hydrogen Peroxide market. Recently, South Korea revealed its initiative to establish a "semiconductor mega cluster" in southern Seoul by 2047, involving a comprehensive investment of USD 473 billion with the collaboration of Samsung Electronics and SK hynix. The mega cluster, spanning various industrial zones across southern Gyeonggi Province, is anticipated to cover a total area of 21 million square meters and achieve a monthly production capacity of 7.7 million wafers by 2030, as outlined in a joint statement by the industry and science ministries. In specific terms, the government's plan includes setting up exclusive zones for the fabless industry in Pangyo, along with foundry and memory chip production facilities in Hwaseong, Yongin, Icheon, and Pyeongtaek. Additionally, an industrial zone for material, part, and equipment businesses will be established in Anseong, accompanied by research and development facilities in Giheung and Suwon. The government's vision involves achieving world-class production capacity for cutting-edge products, including chips with a 2 nanometer process and high bandwidth memory, driven by private-sector investments. While the pulp and paper sector currently hold a prominence as an end-user, it is anticipated to decline in the future in South Korea owing to environmental cleaning and reduction on usage of paper. Additionally, the water treatment sector emerges as a significant driver for Hydrogen Peroxide demand, leveraging its efficacy in disinfection and wastewater treatment applications. Thus, South Korea Hydrogen Peroxide market is likely to reach roughly 125 thousand tonnes in 2033.
Based on the end-user industry, the South Korea Hydrogen Peroxide market is segmented into Paper & Pulp, Textiles, Waste Water Treatment, Food Processing, Electronics & Semiconductors, Pharmaceuticals, and Others. The largest market share of Hydrogen Peroxide goes with high proportion in Paper & Pulp about 30% in the year 2023.
Major player in the South Korea Hydrogen Peroxide market are Sunkyong Chemicals Ltd., OCI Chemicals, Hansol chemical co. ltd, and Taekwang Industrial Co. ltd. Other global players include Mitsubishi Gas Chemical Company, LG Chem, Evonik Industries, Occidental Petroleum Corporation,Aurora Plastics LLC, Formosa Plastics Corporation, Solvay Peroxide Ineos, Arkema SA, Orbia (Mexichem SAB de CV), SABIC, Shin-Etsu Chemical Co. Ltd., Westlake Corporation, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2033
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Objective of the Study:
• To assess the demand-supply scenario of South Korea Hydrogen Peroxide which covers production, demand and supply of Hydrogen Peroxide market in South Korea.
• To analyse and forecast the market size of South Korea Hydrogen Peroxide
• To classify and forecast South Korea Hydrogen Peroxide market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Hydrogen Peroxide market in South Korea.
To extract data for South Korea Hydrogen Peroxide market, primary research surveys were conducted with Hydrogen Peroxide manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for South Korea Hydrogen Peroxide market over the coming years.
ChemAnalyst calculated Hydrogen Peroxide demand across the South Korea region by analysing the volume of Hydrogen Peroxide consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Hydrogen Peroxide manufacturers and other stakeholders
• Organizations, forums and alliances related to Hydrogen Peroxide distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Hydrogen Peroxide manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, South Korea Hydrogen Peroxide market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
90 thousand tonnes
Market size Volume by 2033
125 thousand tonnes
Growth Rate
CAGR of 3.15% from 2024 to 2033
Base year
2023
Estimated Year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2033
Quantitative units
Demand in thousand tonnes and CAGR from 2024 to 2033
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Foreign Trade, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Paper & Pulp, Textiles, Waste Water Treatment, Food Processing, Electronics & Semiconductors, Pharmaceuticals, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
Northern South Korea, Central South Korea, and Southern South Korea
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What was the size of South Korea Hydrogen Peroxide market in terms of volume in 2023?
Ans:
The size of South Korea Hydrogen Peroxide market has grown significantly in the historic period and reached approximately 90 thousand tonnes in 2023.
Q2.
Which industry is leading as the leading consumer of Hydrogen Peroxide?
Ans:
Paper & Pulp industry is the leading consumer of Hydrogen Peroxide.
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