New York, USA, Jan. 17, 2023 (GLOBE NEWSWIRE) -- Peroxyacetic Acid Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Peroxyacetic Acid Market Information by Type, by Application, and Region - Forecast till 2030”, the market is estimated to grow at a 8% CAGR to reach USD 1,685 Million by 2030.
Market Synopsis
Peroxyacetic acid contains oxidizing agents used for a number of crucial applications such as disinfection, sterilization, bleaching, and sanitization. It is easily degradable and doesn’t leave any traces behind. These impressive properties make it ideal for use in households, and commercial places. The extensive use of the chemical in healthcare, foods & beverages, and water treatment will favor the worldwide market in the years to come.
Peroxyacetic acid is great for various cleaning purposes; since its antimicrobial properties help with cleaning rough surfaces including sustenance foundations, washrooms, bathrooms, and rural premises. It also finds extensive use in beverage plants, dairy plants, and wineries, as a disinfectant in therapeutic supplies, pasteurizers, in the development of biofilm in the pulp sector, and in water purifiers. It also helps protect foods, elevating their durability.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | 2030: USD 1,685 Million |
| CAGR | 8% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, by Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The geriatric population, demands of the foods, and the high demand for purified water |
| The rising demand for the wrapped foods |
Market Competitive Landscape:
The affluent vendors in the peroxyacetic acid industry include:
- Solvay Chemicals
- Evonik Industries
- Ecolab
- Aditya Birla Chemicals
- Promox S.P.A
- Christeyns
- Enviro Tech Chemical Services
- Peroxychem
- Seitz Gmbh
The global market provides ample lucrative opportunities to new companies to the supportive regulatory scenario as well as the surging awareness about its benefits and applications. Companies offer their customers a lot of technical assistance with regard to troubleshooting numerous applications. They also uptake several marketing strategic initiatives like partnerships, mergers and acquisitions, and more.
Market USP Covered:
Market Drivers:
Extensive use of peroxyacetic acid or peracetic acid as a disinfectant, bleaching agent and sanitizer in applications like food & beverages, healthcare, and water treatment will be highly favorable for the worldwide market. Major companies in the market are making use of several crucial resources like R&D, and sourcing key channels to enhance their footprint in emerging regions. Moreover, private firms, with the support of government agencies, are striving to generalize the use of this acid in important applications like water treatment.
While Europe heads the worldwide market in terms of valuation and will remain the leader all through the given period, the Asia Pacific market will develop at a stunning rate. Widespread use of the acid in Europe along with the extensive pool of end-use industries ensure the region’s stronghold over the market.
Peroxyacetic acid has sparked the interest of several end-users given its impressive bacterial inactivation ability at a lower cost compared to other types of disinfection technologies. Its use in the food, pharmaceutical, medical and beverage industries will burgeon rapidly in the coming years. Its oxidation potential is a lot higher than any other disinfectant, and therefore, is used largely in wastewater as well as water treatment.
Market Restraints:
The concentrated form of the acid can be extremely hazardous and should be treated properly given its corrosive nature. It can cause eye and skin burns with direct contact and can lead to fire when the concentrate soaks in organic items, such as wood, oily materials or rags.
Browse In-depth Market Research Report (145 Pages) on Peroxyacetic Acid: https://www.marketresearchfuture.com/reports/peroxyacetic-acid-market-708
COVID 19 Analysis
The COVID-19 outbreak’s significant impact has led to numerous repercussions on everyone’s health status globally. The aftermath is closely related to the substantial social and economic burden on people worldwide. While policymakers are coming up with new frameworks and industries are making use of advanced models of business expansion to remain relevant, people are facing a series of mental trauma.
Around the world, the rising cases have spurred mental, and economic issues, especially among the elderly. Additionally, the younger populace has been dealing with challenges owing to loss of livelihoods and is opting for family care to address the repercussions. The focus is largely on the treatment of COVID-19 and the development of a vaccine. This has affected the worldwide market in a big way, in view of the lower demand for the key materials and the financial slowdown.
Market Segmentation
By Application
The major applications of Peroxyacetic Acid are sanitizer, sterilant, disinfectant, and more, which are polymerization catalysts, oxidants, and reagents.
Disinfectants form the biggest segment in the market, holding over half of the worldwide market. The segment will maintain its top status throughout the given period.
By End-Users
Key market end-users are healthcare, pulp & paper, food, treatment of water, and others.
The food and beverage segment dominates the market and can expect to remain at the top all through the review period.
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Regional Insights
Europe, with the largest share of 29%, is the market leader and can touch USD 325.1 million by 2030-end. Its value in 2015 was around USD 135.5 million. On the other hand, the growth rate of the Asia Pacific market will be around 8.02% between 2020 and 2030.
Asia Pacific’s robust expansion rate in the coming years will be the result of the extensive use of peroxyacetic acid in the treatment of influents for eliminating bacteria and oxidizing various microorganisms. The use of this acid has risen exponentially in the food packaging sector as well as in various milk products, high acid, and low-acid drinks.
In Europe, the demand for food & beverages and in turn, peroxyacetic acid is extremely high, with the trend expected to continue throughout the assessment period. Efforts of the government agencies in the region as well as the private firms to generalize its use in water treatment will also favor the regional industry.
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