Through mid-September 2025, the hydrogen peroxide markets in the US and China demonstrated resiliency, underpinned by an agreeable supply-demand balance and strong end-use pull. In the US, demand from the pulp & paper, healthcare, and semiconductor sectors maintained a 12-week bull run in pricing, driven furthermore by the recent FDA approvals and commentaries by the EPA regarding a regulatory review on hydrogen peroxide. Producers were able to successfully absorb the higher cost of natural gas through production efficiency or upsetting its use and management of inventory, despite the disallowing of market disruptions. China demonstrated its own tightening in supply due to maintenance shutdowns in the production of hydrogen peroxide, overshadowing the weakness sometimes present in papermaking demand while textiles, packaging, and semiconductor cleaning provided a reliable alternative in consumption. All buyers reflected levels of comfortable inventories and have not had significant substitutions in purchase patterns, such that traders are anticipating continued firm demand into Q4 despite several headwinds from tariffs and policy.
