Hydrogen peroxide market in Belgium

Earlier Report Observations

The Belgian hydrogen peroxide market value grew steadily from 105.7 million US dollars in 2018 to 199.1 million US dollars in 2022, supported by rising production, which peaked at 295.1 million US dollars that year.

A sharp reversal occurred in 2023 and 2024, with the market size contracting to 94.2 million US dollars. This decline aligned with the enforcement of European Union restrictions, particularly on the use of hydrogen peroxide in cosmetic products, which reduced domestic consumption.

Despite the shrinking domestic market, Belgium's export value for hydrogen peroxide increased from 85.7 million US dollars to 133.1 million US dollars in 2024, underscoring sustained international demand.

Production hydrogen peroxide in Belgium

In value, 2017-2020, M $ US

Belgium's hydrogen peroxide production value increased for the third consecutive year. In 2020, output was valued at 184.2 million US dollars, marking a 1.7% year-over-year rise. From 2017 to 2020, production grew by 8%, with a compound annual growth rate of 2.6%.

Annual dynamics of production in Belgium in value, 2017-2020, M $ US

In kind, 2017-2020, M kg H2O2

Belgium's hydrogen peroxide production volume increased for the second consecutive year. In 2020, 320.3 million kilograms of hydrogen peroxide were produced, showing no significant change compared to 2019. Over the period 2017-2020, production decreased by 3%, with a compound annual growth rate of -1.0%. The lowest volume was recorded in 2018 at 316.6 million kilograms. The largest decline occurred in 2018 with a 4.1% drop, while the largest increase was in 2019 with a 0.7% rise.

Annual dynamics of production in Belgium in kind, 2017-2020, M kg H2O2

Exports hydrogen peroxide from Belgium

Exports in kind, K t

Belgium's hydrogen peroxide exports declined for the second consecutive year. In 2020, the country exported 174.7 thousand tonnes, representing a significant decrease of 16.7% year-over-year. From 2017 to 2020, exports fell by 18.5%, with a compound annual growth rate of -6.6%. The highest export volume was recorded in 2018 at 225.4 thousand tonnes, which also saw the largest increase of 5.2% that year.

Annual dynamics of product's exports from Belgium in kind, 2017-2020, K t

From 2017 to 2020, Germany, the Netherlands, and France remained the top buyers of hydrogen peroxide from Belgium. Germany accounted for 23.9% of exports in volume, the Netherlands for 19.5%, and France for 15.5%. Together, these three countries represented 58.9% of Belgium's total hydrogen peroxide exports by volume.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Belgium in kind, 2017-2020

Exports in value, K $ US

Belgium's hydrogen peroxide export value declined for the second consecutive year. In 2020, exports amounted to 79 586 thousand US dollars, down 6.6% compared to 2019. Between 2017 and 2020, export value increased by 3.6%, equating to an annualized growth rate of 1.2%. The peak value was recorded in 2018 at 85 701 thousand US dollars, which also experienced the largest increase of 11.6% that year.

Annual dynamics of product's exports from Belgium in value, 2017-2020, K $ US

From 2017 to 2020, Germany, the Netherlands, and France consistently led as the top destinations for Belgium's hydrogen peroxide exports by value. Germany accounted for 22.6% of export value, the Netherlands for 19.7%, and France for 13.5%. Collectively, these three markets represented 55.8% of Belgium's total hydrogen peroxide export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Belgium in value, 2017-2020

Imports hydrogen peroxide to Belgium

Imports in kind, K t

After two years of growth, Belgium's hydrogen peroxide import volume declined. In 2020, imports totaled 32.8 thousand tonnes, showing a sharp contraction of 27.2% compared to 2019. Between 2017 and 2020, import volume increased by 33.3%, with an annualized growth rate of 10.0%. The highest import volume was recorded in 2019 at 45.0 thousand tonnes, while the largest increase of 45.0% occurred in 2018.

Annual dynamics of product's imports to Belgium in kind, 2017-2020, K t

From 2017 to 2020, Finland and Germany consistently dominated Belgium's hydrogen peroxide imports by volume, accounting for 80.6% of total imports. This indicates a high degree of market concentration, with a long tail of smaller suppliers making up the remainder.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Belgium in kind, 2017-2020

Imports in value, K $ US

Belgium's hydrogen peroxide import value increased for the third consecutive year. In 2020, imports were recorded at 15 319 thousand US dollars, reflecting a moderate uptick of 9.1% compared to 2019. Between 2017 and 2020, import value grew by 54%, equating to an annualized growth rate of 15.5%.

Annual dynamics of product's imports to Belgium in value, 2017-2020, K $ US

From 2017 to 2020, Finland, Germany, and the Netherlands were the primary suppliers of hydrogen peroxide to Belgium by value. Finland accounted for 32.5% of import value, Germany for 32.2%, and the Netherlands for 22.6%. Together, these three countries represented 87.3% of Belgium's total hydrogen peroxide import value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Belgium in value, 2017-2020