Chicago, Nov. 23, 2023 (GLOBE NEWSWIRE) -- The global Peracetic Acid Market size is projected to grow from USD 1.0 billion in 2023 to USD 1.4 billion in 2028, at a CAGR of 7.4%, as per the recent study by MarketsandMarkets. Peracetic acid is a liquid mixture of hydrogen peroxide and acetic acid, playing a pivotal role in various industries, including healthcare, food & beverages, water treatment, pulp & paper and others. These versatile chemicals have gained significant importance due to their wide range of applications, from disinfectant to sterilant.
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Browse in-depth TOC on “Peracetic Acid Market”
353 - Market Data Tables
63 – Figures
292 - Pages
List of Key Players in Peracetic Acid Market:
- Solvay (Belgium)
- Evonik Industries AG (Germany)
- Ecolab Inc. (US)
- Mitsubishi Gas Chemical Company (Japan)
- Enviro Tech Chemical Services (US)
- Jubilant Life Sciences (India)
- National Peroxide Ltd. (India)
- Kemira Oyj (Finland)
- Seeler Industries Inc. (US)
- and Airedale Chemicals (UK)
- Others.
Drivers, Restraints, Opportunities and Challenges in Peracetic Acid Market:
- Drivers: Within the dynamic landscape of the chemical industry, the peracetic acid market is driven by the advancement of peracetic acid over other substitute biocide.
- Restraints: The main restraint for the peracetic acid market is the lack of awareness.
- Opportunity: In the dynamic landscape of the peracetic acid market, the key growth opportunity is high growth potential in the Asia Pacific region.
- Challenge: Peracetic acid is a highly reactive product, which is also a challenge for this market.
Key Findings of the Study:
- The 5%-15% segment is expected to account for the largest shares in 2023.
- The disinfectant application segment is expected to account for the largest share in 2023.
- Europe is expected to account for the largest share in 2023.
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The future growth prospects for peracetic acid appear promising. The expansion of industries such as food & beverages, healthcare, pulp & paper is expected to further drive demand. peracetic acid is used as a sustainable biocide for aseptic packaging of food and beverages, in cosmetics and hair bleaching, for environmentally friendly water and wastewater treatment, for smart sustainable aquaculture solutions, for disinfection in agriculture, for chemical synthesis, for sterilization in hospital hygiene, or for cleaning and disinfecting laundry and textiles.
A flexible oxidizing agent, peracetic acid dissolves readily in water and breaks down into non-toxic byproducts. In a variety of industries, including food and beverage processing of fruits, vegetables, and poultry, environmental remediation, industrial cleaning and sanitization, and oil and gas production, the various concentrations are used in chemical synthesis, bleaching, sanitization, disinfection, hygiene, and sterilization.
In conclusion, peracetic acid is poised for a promising future, and companies in this sector should focus on regulatory compliance, and strategic expansion to capitalize on the significant growth prospects ahead. Adapting to changing market dynamics and harnessing the full potential of peracetic acid sustainably and responsibly will be crucial for remaining competitive in this evolving landscape.
The Europe region stands out as the largest market for peracetic acid, and several key factors underpin this prominence within the chemical industry. Firstly, the rapid industrialization and urbanization witnessed across several European countries, notably Germany and UK, have fueled extensive infrastructure development. The main functions of peracetic acid in food processing and handling are as a disinfectant and a sanitizer for surfaces that come into touch with food.
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5-15% Grade, holds the major share in the peracetic acid market. Solutions containing peracetic acid (PAA) in concentrations ranging from 5% to 15% provide a variety of applications including sanitation and disinfection. The concentration within this range is selected according to the application's needs and the required amount of antibacterial activity. For sanitization and disinfection, 5%–15% grade PAA is typically utilized in a variety of sectors, including healthcare, food processing, water treatment, and agriculture.
Disinfectant is one of the prominent applications of peracetic acid. Disinfectant eliminates harmful microbes, thus preventing the spreading of hazardous organisms in the finished goods. It is applied to non-living objects to resist the growth of microorganisms thriving on the object. It generally does not kill the microorganisms. peracetic acid inhibits the growth of microorganisms, it is frequently used as a disinfectant. Stronger disinfectants quickly neutralize germs since they destroy them throughout the disinfection process significantly more quickly.
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