Dublin, June 07, 2024 (GLOBE NEWSWIRE) -- The "Global Peracetic Acid Market Size, Share & Trends Analysis, 2024 to 2031" report has been added to ResearchAndMarkets.com's offering.
The Global Peracetic Acid Market is expected to reach $1.8 billion by 2031, rising at a market growth of 7.5% CAGR during the forecast period. In the year 2023, the market attained a volume of 3.03 thousand tonnes, experiencing a growth of 17.5% (2020-2023).
The water treatment segment procured a promising growth rate in the market in 2023. Peracetic acid is employed in wastewater treatment processes for disinfection, helping reduce microbial contaminants before discharge into the environment. Therefore, the water treatment segment generated 13.46% revenue share in 2031. In terms of volume the Russian water treatment plants would consume 31.20 hundred tonnes of this acid by 2031. As municipalities and industrial facilities seek to comply with environmental regulations and protect water bodies from pollution, peroxyacetic acid -based disinfection becomes increasingly important in wastewater treatment.
Peroxyacetic acid is used as a biocide to control microbial growth in drilling fluids used in oil and gas exploration. Microbial contamination in drilling fluids can lead to souring, biofouling, and corrosion in drilling equipment and reservoirs. Therefore, the market is expanding significantly due to the exploration of oil and gas and production. Additionally, Peroxyacetic acid is utilized in personal care products such as soaps, shampoos, and body washes for its antimicrobial properties. Peroxyacetic acid -based formulations comply with regulatory requirements and safety standards, providing assurance to consumers and driving market demand for acid in hygiene products. Thus, because of the rising demand for personal care and hygiene products, the market is anticipated to increase significantly.
However, fluctuations in the cost of raw materials, such as acetic acid and hydrogen peroxide, used in peroxyacetic acid production can directly impact product profitability for manufacturers. Price instability may undermine customer confidence and loyalty, leading them to seek alternative disinfectants or sanitizers with more predictable pricing and cost-effectiveness. Thus, high cost and price volatility can slow down the growth of the market.
End-use Analysis
Based on end-use, the market is classified into healthcare, food & Beverage, water treatment, pulp & paper, and others. The healthcare segment acquired 26.27% substantial revenue share in the market in 2023. In terms of volume the segment consumed 769.18 hundred tonnes of volume in 2023. Peroxyacetic acid is commonly used for disinfecting flexible endoscopes, endoscope accessories, and other medical devices in sterile processing departments (SPDs). Its compatibility with sensitive materials and ability to achieve high-level disinfection make it a preferred choice for endoscope reprocessing, ensuring patient safety and device integrity.
Application Analysis
By application, the market is categorized into disinfectant, sanitizer, and others. The sanitizer segment covered 31.61% considerable revenue share in the market in 2023. In terms of volume, the sanitizer segment registered 979.76 hundred tonnes in 2023.Sanitizing surfaces and high-touch areas in public spaces such as airports, shopping malls, schools, and offices has become essential for controlling the spread of infectious diseases. Peroxyacetic acid -based surface sanitizers provide rapid disinfection and are widely used in disinfecting wipes, sprays, and cleaning solutions.
Regional Analysis
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the Asia Pacific region led the market by generating 36.62% revenue share. The food and beverage industry in the Asia Pacific is expanding quickly due to factors like urbanization, population expansion, and shifting customer tastes. The healthcare sector in Asia Pacific is experiencing significant growth due to increasing healthcare infrastructure development, rising healthcare expenditures, and growing awareness of health issues.
List of Key Companies Profiled
- Airedale Chemical Holdings Limited
- Evonik Industries AG (RAG-Stifung)
- Jubilant Pharmova Limited
- Ecolab, Inc.
- Kemira Oyj
- Diversey Holdings Ltd. (Solenis LLC)
- Acuro Organics Limited
- Solvay S.A.
- Lenntech B.V.
- California Soda Company
For more information about this report visit https://www.researchandmarkets.com/r/elp8o0
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
