Global Peracetic Acid Market: Overview
"The Peracetic Acid Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."
Peracetic acid (C2H4O3) is the combination of two important and versatile compounds i.e. hydrogen peroxide and acetic acid. Peracetic acid also known as peroxyacetic acid or PAA which is a colorless organic chemical compound used in numerous applications, including chemical disinfectant in healthcare, sanitizer in the food industry, and disinfectant during water treatment.
Global Peracetic Acid Market: Dynamics
Increasing adoption of PAA in medical and food & beverage sector coupled with increasing demand for high quality biocides products in emerging and developed economies is the major factor anticipated to propel growth of the global peracetic acid market. Additionally, changing lifestyle, eating habits of individuals, and innovative techniques developed for the use of peracetic acid in many new applications are also expected to fuel growth of the global market over the long run.
Moreover, benefits of peracetic acid over other substitutes such as hydrogen peroxide, sodium hypochlorite, chlorine, and calcium hypochlorite, along with increasing consumer demand from food & beverage and water treatment industries is also expected to create lucrative opportunities for key players in the global market.
However, lack of awareness about the benefits of peracetic acid in different application areas and high cost as compared to other substitutes is expected to hamper growth of the target market during the forecast period.
Latest trend shows that, applications of PAA is not just limited for disinfection or oxidation purposes but increasingly used in medicines, aerospace, and FMCG sector which is expected to propel market growth in the coming years.
Global Peracetic Acid Market: Segment Analysis
On the basis of application, the target market is segmented into disinfectant, sterilant, and sanitizer. The sterilant segment is expected to hold significant share in the market over the forecast period.
On the basis of end-use industry, the global market is segregated into healthcare, food & Beverage, water treatment, pulp & paper, and others. Food & beverage sector expected to register significant growth rate in the market over the forecast period. Peracetic acid is being used in food & beverage applications as a sanitizer for filters, pipes, tanks, evaporators and other such equipment.
Peracetic Acid Market: Region Analysis
The market in Asia Pacific accounts for highest share in terms of revenue, and is projected to maintain its dominance during the forecast period. Rising demand for peracetic acid from end-user industries such as healthcare, water treatment, and food & beverage sector in developing countries such as India and China are some factors expected to boost the market growth. Moreover, increasing awareness regarding food quality, pharmaceutical sterilization, and wastewater disinfection, coupled with governmental initiatives regarding biocides products is expected to increase target market in the region.
The market in North America accounts for a significant market share in terms of revenue in the global market. Increasing water pollution level and the favorable government norms to safeguard marine life is projected to drive demand for the target product. Europe is another substantial region in the target market. The Middle East & Africa market is estimated to grow at a significant rate during the review period.
Global Peracetic Acid Market Segmentation:
Segmentation by Application:
Segmentation by End-Use Industry:
- Food & Beverage
- Water Treatment
- Pulp & Paper
- Others (Agriculture and Laundry)
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Solvay SA
- Evonik Industries AG
- Ecolab Inc.
- Mitsubishi Gas Chemical Company
- Kemira OYJ
- PeroxyChem LLC
- Thai Peroxide Limited
- Loeffler Chemical
- Aditya Birla Chemicals
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