According to the Commodity Market Analysis System of Business Society, in 2023, the hydrogen peroxide market fluctuated greatly, experiencing three rounds of roller coaster market, with the market rising and falling. The highest point of the roller coaster market was in September, and it reached its highest point on September 20th, with the highest price reaching 2200 yuan/ton, an increase of over 200% compared to early January. The lowest price is in January, with a minimum price of 720 yuan/ton.
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The first round of roller coaster market: From January to April, in the first quarter, the hydrogen peroxide market has been oscillating and rising, with an increase of over 20%. The hydrogen peroxide market began to plummet in April, with an overall decline of over 15%.
After New Year’s Day, the Spring Festival is approaching, and the hydrogen peroxide terminal industry has gradually started stocking up. In addition, some hydrogen peroxide manufacturers have shut down for maintenance, leading to tight supply and multiple positive factors supporting the hydrogen peroxide market. The hydrogen peroxide market has bottomed out and rebounded, ushering in an upward trend. Since March, the demand for the terminal paper printing industry has increased, and the quantity of hydrogen peroxide purchased is still acceptable. The market continues to rise.
Yuan/ton, an increase of over 200% compared to early January. The lowest price is in January, with a minimum price of 720 yuan/ton.
Starting from April, the demand for terminal paper printing industry has weakened, and the quantity of purchased hydrogen peroxide has decreased. The transaction volume in the hydrogen peroxide market is average. In addition, some hydrogen peroxide manufacturers have reopened their equipment, resulting in an increase in hydrogen peroxide supply and a continuous decline in prices, with a monthly decline of 15.59%.
The second round of roller coaster market: From May to June, in the first half of May, the hydrogen peroxide market continued to rise, with an increase of over 35%. Starting from the second half of the month, the hydrogen peroxide market started to plummet from a high platform, with a fluctuating downward trend and an overall decline of over 21%.
During the May Day holiday, an accident occurred in the hydrogen peroxide plant of Luxi Chemical, and the hydrogen peroxide plant of Jiantao in Hengyang, Hunan was shut down, resulting in a tense supply of hydrogen peroxide in the market. After the holiday, hydrogen peroxide manufacturers saw a significant increase in their quotations, rising by half a month or 35.14%.
Starting from the second half of May, the bullish factors were digested, and the demand for hydrogen peroxide in the market weakened, leading to a decline in the hydrogen peroxide market. Entering June, terminal demand is weak, supply is loose, hydrogen peroxide manufacturers have weak confidence in price support, and the overall performance of hydrogen peroxide is still weak. From May 16th to June, the overall hydrogen peroxide market fell by 21.67%.
The third round of roller coaster market: From July to December, the overall hydrogen peroxide market fluctuated and rose in the third quarter, with the increase continuously expanding in September. Throughout the third quarter, the hydrogen peroxide market rose by over 171%. After the National Day holiday, hydrogen peroxide opened a downward channel, and the price continuously bottomed out, dropping to the end of the year, with an overall decline of over 60%. Starting from July, domestic hydrogen peroxide faucet enterprises have not yet started shutdown, market supply is tight, terminal procurement demand has increased, and the hydrogen peroxide market has continued to rise sharply, rising until the end of September. The highest price of hydrogen peroxide has risen to 2200 yuan/ton, and throughout the third quarter, the hydrogen peroxide market has risen by more than 171%.
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After the National Day holiday, the stock market in the terminal printing and papermaking industry came to an end, and demand fell. In addition, the market acceptance of high priced hydrogen peroxide decreased, and the price of hydrogen peroxide dropped significantly. It continued to decline until the end of the year, with the average market price dropping to 830 yuan/ton, a drop of over 60%.
How will the hydrogen peroxide market be interpreted in 2024?
Supply side: In 2023, the hydrogen peroxide production capacity has exceeded 26 million tons, and some enterprises have started production by the end of the year. Among them, Hubei Sanning Chemical is expected to build a 560000 ton/year hydrogen peroxide (50%) device by the end of the year, Sinopec Baling Petrochemical’s 300000 ton/year hydrogen peroxide device is expected to be put into operation by the end of the year, and Yaxing Chemical’s hydrogen peroxide device has been completed and put into trial operation. Due to the construction of the new device, the production capacity is still in the climbing stage. By 2024, these new production capacities will all be produced, and hydrogen peroxide production will also increase significantly. The situation of oversupply is still present.
Demand side: In 2023, the paper market will weaken, while the performance of the caprolactam market is still good. The overall boosting effect of the printing and paper industry on the hydrogen peroxide market is limited. By 2024, the demand for hydrogen peroxide in the printing and paper industries has a certain periodicity, and it is difficult to achieve a significant overall increase. The chemical caprolactam also has limited support for the hydrogen peroxide market. From the demand side, it is difficult to see a significant increase in the hydrogen peroxide market in 2024.
Business Society Chemical Analyst believes that the sharp rise in hydrogen peroxide market in 2023 is mainly due to supply side shutdown maintenance and some large factories experiencing malfunctions. In 2024, there is still pressure on the supply side, and there are no favorable factors on the demand side. The hydrogen peroxide market may find it difficult to replicate the highest price in 2023, and the overall weak operation is the main trend.
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