Peracetic Acid Market to grow by USD 1,899 Million by 2032; APAC is projected to contribute 41%

Peracetic acid is widely used as a disinfectant in water treatment processes. The growing global emphasis on water purification and wastewater treatment due to environmental concerns and stringent regulations is driving demand for effective and eco-friendly disinfectants like peracetic acid.


New York, Jan. 15, 2024 (GLOBE NEWSWIRE) -- According to market.us, the Peracetic Acid Market size was valued at USD 976 Million in 2023, is estimated to be valued at USD 1,899 Million by 2032, and is expected to exhibit a CAGR of 7.9% during the forecast period 2023 to 2032.

Peracetic acid is a highly acidic liquid chemical used in equipment cleaning and sterilizing applications in different industries. Its production is done by using acetic acid and hydrogen peroxide. It is a colorless liquid with corrosive properties and a pungent odor.

Key Takeaway:

  • By purity, the solution segment held the largest market share in 2022 and is expected to dominate the market over the forecast period from 2023 to 2032.
  • By application, the disinfectant segment dominated the global market in 2022 with a significant revenue share.
  • By end users, the food and beverage industry will likely hold the largest market share globally during the forecast period from 2023 to 2032.
  • In 2022, APAC dominated the global peracetic acid market with the highest revenue share of 41.0%.
  • Asia-Pacific will likely grow at the fastest CAGR from 2023 to 2032.

Peracetic Acid Market

Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

The global peracetic acid market is expanding rapidly and is estimated to grow significantly during the forecast period with rising demand from the end-use industries. As per the requirements of specific applications in several industries, product development will likely be essential in expanding the peracetic acid market in the upcoming years.

Factors affecting the growth of the peracetic acid market

Several factors can affect the growth of the peracetic acid market. Some of these factors include:

  • Increase in demand for peracetic acid: The increase in demand for peracetic acid in the food and beverage industry due to its wide use in food processing as well as the packaging of products is anticipated to increase market growth.
  • Rising use of peracetic acid in various applications: Peracetic acid is used as an effective bactericide and fungicide in food processing applications for sanitizing food contact surfaces. It also helps with antimicrobial intervention without imparting odors, flavors, colors, or odors to the finished product.
  • Pharmaceutical industry's preference for peracetic acid use: The rising use of peracetic acid in pharmaceutical industries is expected to propel market growth.
  • Sanitization of hospitals: The market growth of peracetic acid is mainly influenced by the increasing use of peracetic acid in hospitals for sanitization, hospital ICUs, and hospital beds to maintain hygiene.

Gain expert insights and supercharge your growth strategies. Request our market overview sample now: https://market.us/report/peracetic-acid-market/request-sample/

Top Trends in the Global Peracetic Acid Market

Peracetic acid is a primarily used chemical in food and beverage industries that provides freshness to the food for a long time and improves taste. Peracetic acid is also preferred as a bleaching and antimicrobial agent for vegetables and fruits. The increase in awareness of hygiene, as well as the rapid growth in the processed food industry, are expected to propel the growth of the peracetic acid market. The sanitizers and disinfectants play an essential role in preventing bacterial growth. As a result, there is an increase in the usage of peracetic acid. Peracetic acid also ensures the safety of the product's band by increasing the shelf life and slowing thermal degradation. The use of peracetic acid in several applications is anticipated to boost the growth of the peracetic acid market.

Market Growth

The rising use of peracetic acid in various applications in numerous industries such as pharmaceuticals, food processing, Hospitals, pulp paper, and water treatment are likely to fuel the growth of the peracetic acid market. Moreover, during the COVID-19 pandemic, the market experienced positive growth due to its increasing use of sanitization. However, the hazards associated with its use are expected to hamper market growth.

Regional Analysis

Asia-Pacific dominated the global market for peracetic acid in 2022 with the largest revenue share. This significant growth is due to the rising adoption of peracetic acid in this region's water treatment, food and beverage, and healthcare industries. Asia-Pacific is home to some of the world's fastest-growing economies, including China, India, and several Southeast Asian nations. These countries have seen substantial growth in various industries, including food and beverage, healthcare, and water treatment—all of which are significant end-users of peracetic acid. With a growing middle class with more disposable income, there has been a noticeable shift in dietary habits. The demand for processed and packaged foods has surged, increasing the need for effective disinfectants and sterilants, such as peracetic acid, in food processing and packaging applications.

Get a glance at the market contribution of the segments, Request a PDF Sample@ https://market.us/report/peracetic-acid-market/request-sample/

Peracetic Acid Market Regional Analysis

Competitive Landscape

  • Evonik Industries AG
  • Kemira Oyj
  • Solvay S.A.
  • Mitsubishi Gas Chemical Company, Inc.
  • Airedale Chemical Company Ltd.
  • Ecolab Inc.
  • Jubilant Life Sciences Ltd
  • Hydrite Chemical
  • Other Key Players

Scope of the Report

Report AttributesDetails
Market Value (2023)USD 976 Million
Forecast Revenue 2032USD 1,899 Million
CAGR (2023 to 2032)7.9%
Asia Pacific Revenue Share41.0%
Base Year2023
Historic Period2018 to 2022
Forecast Year2024 to 2033

Market Drivers

One of the most significant driving factors for the growth of the Peracetic Acid Market is its increasing use as a food disinfectant. As populations grow and urbanize, the need for processed and packaged food has risen exponentially. Concerns regarding food safety have become a primary focus for governmental regulatory agencies and the food industry. Contaminated food poses health risks and can result in massive recalls, legal issues, and a loss of consumer trust, all of which have severe financial implications for food producers. Peracetic acid is a highly effective antimicrobial agent that kills bacteria, fungi, and viruses.

It leaves no harmful residues, is environmentally friendly as it decomposes into acetic acid and oxygen, and doesn't lead to antimicrobial resistance. Unlike other disinfectants like chlorine, peracetic acid remains effective over various temperatures and pH levels, making it versatile for various food processing conditions. Regulatory bodies such as the U.S. Food and Drug Administration (FDA) and the European Food Safety Authority (EFSA) have approved the use of peracetic acid as a food disinfectant, further enhancing its marketability. Thus, its critical role in food safety drives its demand and subsequently supports the growth of the peracetic acid market.

Market Restraints

While peracetic acid is effective and versatile, it has a few drawbacks. It is a strong oxidizer and can be corrosive, posing risks to human health and safety if not handled correctly. High concentrations can lead to skin irritation, respiratory issues, and eye problems. This necessitates safety measures, such as protective gear and well-ventilated areas, when handling peracetic acid. Additionally, peracetic acid is highly reactive and unstable, especially when stored improperly or inadvertently mixed with other chemicals.

This poses a risk of explosion or fire, necessitating strict storage and handling protocols. These safety concerns have led to stringent regulations and guidelines for its use and storage, which can be seen as a hurdle for smaller organizations with limited resources. The additional costs for safety measures and compliance may discourage its adoption, acting as a restraining factor for market growth.

Market Opportunities

The effectiveness of peracetic acid as a disinfectant goes beyond the food industry; it also shows great promise in the water treatment sector. Conventional water disinfectants like chlorine have been under scrutiny for their environmental impact and the formation of harmful by-products like trihalomethanes. On the other hand, peracetic acid breaks down into benign substances like acetic acid and oxygen, making it an eco-friendly alternative. With increasing environmental awareness and tighter regulations on water treatment chemicals, the demand for greener options is expected to rise.

Municipalities and industries continuously seek more efficient and less harmful ways to treat wastewater and drinking water. This opens a significant opportunity for the peracetic acid market to expand its footprint beyond its traditional domains. If research can also substantiate additional benefits like cost-effectiveness over the lifecycle or increased efficacy in pathogen removal, peracetic acid could potentially revolutionize the water treatment industry, creating substantial market opportunities. By understanding these factors, stakeholders can better strategize for market penetration, product development, and risk mitigation, ensuring a more informed and effective approach to capturing value in the peracetic acid market.

Request for Customization @ https://market.us/book-appointment/?report_id=18945

Report Segmentation of the Peracetic Acid Market

Purity Insight

The solution segment dominated the global market in 2022 and is expected to grow at a higher CAGR during the forecast period. Peracetic acid solutions are easier to handle and apply across various industrial applications. They can be directly added to water systems for disinfection, used in spray form for surface sanitization, or utilized in washing solutions in the food and beverage industry. The ease of integrating peracetic acid solutions into existing processes is a significant advantage. Moreover, peracetic acid solutions are often formulated to offer broad-spectrum efficacy across various concentrations. This makes them versatile for different applications, such as food and beverage sterilization, wastewater treatment, and healthcare disinfection.

Application Insight

The disinfectant segment held the largest share of the global market in 2022. Peracetic acid as a disinfectant finds applications across numerous industries such as healthcare, water treatment, food and beverage, and agriculture. For instance, in healthcare, it is used for disinfecting medical instruments; in water treatment, it purifies drinking water; and in the food and beverage industry, it is used for food surface disinfection. This wide range of applications creates a broad market demand. Peracetic acid breaks down into harmless components like water, oxygen, and acetic acid, reducing environmental concerns tied to its use. Given the increasing global focus on sustainability and environmental impact, this property enhances its attractiveness as a disinfectant.

End User Insight

The food and beverage industry was the dominant segment in the global market and is anticipated to register a faster CAGR during the forecast period. Food safety is critical for consumers, regulatory bodies, and the food and beverage industry. Any lapse in safety measures can lead to severe health issues for consumers and significant financial and reputational losses for companies. The highly effective disinfecting properties of peracetic acid make it a go-to option for ensuring food safety by killing a broad spectrum of microorganisms. The food and beverage industry has varied needs for disinfection—ranging from surface cleaning to equipment sterilization to treating food directly. Peracetic acid’s versatility allows it to be used in multiple applications within the same industry, including cleaning processing equipment, disinfecting packaging materials, and treating food products.

Peracetic Acid Market Share

Market Segmentation

By Purity

  • Solution
  • Distilled

By Application

  • Sterilizer
  • Sanitizer
  • Disinfectant
  • Other Applications

By End-User

  • Food & Beverage
  • Healthcare Industries
  • Water Treatment
  • Pulp & Paper Bleaching
  • Other End-Users

By Geography

  • North America
    • The US
    • Canada
  • Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Russia & CIS
    • Rest of Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • ASEAN
    • Rest of APAC
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of MEA

Recent Development of the Peracetic Acid Market

  • In July 2022, Evonik's Active Oxygens business line launched a novel sustainability strategy aiming to expand the advantageous handprint and lower the environmental footprint of hydrogen peroxide, persulfates, and peracetic acid. Such a strategy consists of concrete steps for reducing carbon emissions as well as improving the efficiency of resources in manufacturing these chemicals to achieve the neutrality of climate across the business line by 2040.
  • In December 2021, Arxada AG acquired Enviro Tech Chemical Services, Inc. Due to this acquisition, Arxada’s portfolio presently includes ecologically sustainable offerings based on peracetic acid.

Browse More Related Reports

  • Lead Acid Battery Market is anticipated to create a lucrative growth opportunity in the global landscape by registering a CAGR of 6.9% from 2023 to 2032. The market is expected to reach a valuation of USD 31 Billion by the end of 2022 and is predicted to reach USD 59 Billion by 2032.
  • Hyaluronic Acid Market was valued at USD 6.8 Bn, and this market is estimated to reach USD 14 billion registering the highest CAGR of 7.7% during the forecast period of 2023 and 2032.
  • Chloroacetic Acid Market accounted for USD 1371.5 million. This market is estimated to reach USD 2,048.4 million in 2032 at the highest CAGR of 4.2% between 2023 and 2032. Chloroacetic Acid is an organic compound with high adaptability.
  • Azelaic Acid Market size is expected to be worth around USD 422.21 million by 2032 from USD 218.29 million in 2022, growing at a CAGR of 7.0% during the forecast period from 2022 to 2032.
  • Sulfuric Acid Market was valued at USD 13.5 Bn in 2022. It is expected to experience an 8.3% CAGR over the forecast period of 2023-2032 and has a value of USD 29.4 Bn in 2032.
  • Citric Acid Market was valued at USD 3,400 million and is expected to reach USD 5321 million in 2032. This market is estimated to register the highest CAGR of 4.7% between 2023 and 2032.
  • Succinic Acid Market accounts for USD 181 million and is expected to grow to around USD 359.8 million in 2032. Between 2023 and 2032, this market is estimated to register a CAGR of 7.3%.
  • Isostearic Acid Market was valued at USD 404.7 million and is expected to reach USD 768.6 million in 2032. This market is estimated to register a CAGR of 6.8% between 2023 and 2032
  • Propionic Acid Market was valued at USD 1.57 billion and is expected to grow to USD 3.12 billion in 2032. Between 2023 and 2032, this market is estimated to register the highest CAGR of 7.3%.
  • Acetic Acid Market size is expected to be worth around USD 35.2 billion by 2032 from USD 21.8 billion in 2022, growing at a CAGR of 4.90% during the forecast period from 2022 to 2032.
  • Hyaluronic Acid Market was valued at USD 6.8 Bn, and this market is estimated to reach USD 14 billion registering the highest CAGR of 7.7% during the forecast period of 2023 and 2032.
  • Ursodeoxycholic Acid Drug Product Market is valued at USD 349.2 Mn and is expected to reach USD 915 Mn in 2032, with a CAGR of 11.3% from 2022 to 2032.
  • Kojic Acid Market size is expected to be worth around USD 78.56 million by 2032 from USD 63.2 million in 2022, growing at a CAGR of 2.2% during the forecast period 2023 to 2032.
  • Lactic Acid Market was worth US$ 2.39 Billion in 2021. It is projected to grow at a CAGR of 7.8% between 2023 and 2032
  • Biodegradable Plastic Market was valued at USD 5.8 Billion and is expected to reach USD 25.1 Billion in 2032. and from 2023 to 2032, this market is estimated to register a CAGR of 16.2%.

About Us

Market.US (Powered by Prudour Pvt Ltd) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report-providing firm. Market.US provides customization to suit any specific or unique requirement and tailor-makes reports as per request. We go beyond boundaries to take analytics, analysis, study, and outlook to newer heights and broader horizons.

Follow Us On LinkedIn

Our Blog: 

 

Contact Data