Dublin, Feb. 27, 2024 (GLOBE NEWSWIRE) -- The "Peracetic Acid - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019-2029" report has been added to ResearchAndMarkets.com's offering.
Growth trends forecast in the peracetic acid market underscore the significant expansion expected in the coming years. This report meticulously analyzes the market size, shares, and growth trajectories from 2023 to 2028, revealing a fascinating projected compound annual growth rate (CAGR) of over 5.71% during this period. The peracetic acid market, currently estimated to be at 340.23 kilotons, is anticipated to reach new heights by ascending to 449.07 kilotons in the next five years.
Key Market Dynamics and Trends
The extensive market research elaborates on several pivotal factors shaping the landscape of the peracetic acid industry. Notably, the demand for peracetic acid is on an uptick, driven by its widespread use as a disinfectant across numerous sectors. The research highlights the dominant role of disinfectant applications, particularly in the water treatment industry and various industrial hygiene applications, where stringent standards necessitate effective antimicrobial interventions.
Challenges and Opportunities
Despite a setback due to COVID-19-related disruptions in manufacturing and supply chains, the market witnessed a significant recovery in 2021, hinting at resilient demand dynamics. However, challenges such as high costs and potential health risks associated with peracetic acid usage loom over the market growth. Conversely, burgeoning opportunities present themselves in the form of increased utilization in aseptic packaging, promising to propel market expansion.
Asia-Pacific Leads with Strong Demand
The burgeoning markets of China, India, and Japan emerge as the powerhouses driving the Asia-Pacific region to command the largest share of global consumption. This dominance is attributed to the soaring demand from pivotal industries including pharmaceuticals, food and beverage, and chemicals. Economic growth trends, a rising penchant for processed foods, and amplified regulations in water treatment bolster the demand for peracetic acid.
Disinfectant Applications Spearheading Growth
The report underscores the disinfectant segment's dominance, with peracetic acid's efficacy against a wide spectrum of microorganisms cementing its indispensability. The rise in processed food consumption in developed countries, coupled with stringent wastewater treatment regulations, further elevates the necessity for peracetic acid as a disinfectant, especially in food preservation and environmental protection.
- Water treatment as a driving sector due to elevated environmental policies.
- Growing utilization in the food and beverage sector for equipment and product disinfection.
- Increasing adoption in ballast water treatment to comply with international standards.
- Shifts in food consumption patterns amplifying the need for effective biocides.
Competitive Landscape
The peracetic acid market presents a partially consolidated competitive landscape, with major players leading innovative strides and expansion activities. The report offers a comprehensive examination of market competitors, their strategic positions, and their contributions to the industry's growth.
A selection of companies mentioned in this report includes:
- ACURO ORGANICS LIMITED
- Aditya Birla Chemicals
- Airedale Chemical Company Limited
- Biosan
- Christeyns
- Diversey, Inc.
- Ecolab
- Enviro Tech Chemical Services Inc. (arxada AG)
- Evonik Industries AG
- Hydrite Chemical
- Kemira
- MITSUBISHI GAS CHEMICAL COMPANY, INC.
- Solvay
- Stockmeier Group
For more information about this report visit https://www.researchandmarkets.com/r/43e3s0
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