Peracetic Acid Market Size, Trends, Share, Growth, and Opportunity Forecast, 2023 - 2030
Peracetic Acid Market Size, Trends, Share, Growth, and Opportunity Forecast, 2023 - 2030 Global Industry Analysis By Application (Disinfection, Food And Beverage Processing, Water Treatment, Agriculture, Pulp And Paper), By End-Users (Healthcare, Food And Beverage Industry, Water Treatment, Agriculture, Other Industrial Applications) By Product Type (Liquid And Solid Peracetic Acid), By Concentration (Low And High Concentration Peracetic Acid) and By Geography (North America, Europe, Asia Pacific, South America, and Middle East & Africa)
The global peracetic acid market
was valued at USD 964.7 Million in 2022 and is anticipated to reach a
value of USD 1,705.0 Million by 2030 expanding at a CAGR of 7.5%
between 2023 and 2030.
The peracetic acid (Ch3CO3H)
is a colorless organic acid produced from reaction of acetic acid (CH3COOH)
and hydrogen peroxide (H2O2). It is also an effective
oxidizing agent that kills microorganisms, breaks down organic matters, and
eliminates contaminants. Due to this, it serves as an important
sterilizing and disinfecting agent. Also, properly used PAA is harmless
to the environment as its application does not leave any harmful residues
during wastewater treatment, disinfecting medical gears, and food products.PAA
acts as a wide spectrum antibacterial, anti-viral, anti-fungal and anti-spore
agent. This is most widely associated with the use in food and healthcare
industry as a means of being disinfected as well as sanitized. The production
of peracetic acid, its incorporation into other products, and its sale to end
users define the global peracetic acid market. Peracetic acid comes in various
forms such as liquids and soluble solutions which are involved in several
industries including water treatment, food, and many others for promoting hygiene,
disinfection, and sanitation.
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Peracetic Acid
Market Major Driving Forces
Need for Water Treatment: One of the main factors driving the market is the
requirement of clean and disinfected drinking water. The rapid population
growth and growing pollution concerns are stressing the need for clean water
for domestic as well as industrial purposes. Hence, peracetic acid and play a
vital role in fulfilling this need.
Growing Awareness in Sanitation
& Hygiene: Today’s
generation is very well aware about the importance of
maintaining cleanliness and
maintaining hygiene, particularly in sectors such as healthcare, food and
beverage processing, and water treatment. The potency of peracetic acid in
disinfection and sterilization makes it a formidable choice among the masses
for maintaining sanitation and hygiene.
Eco-Friendly Solutions: Since peracetic acid decomposes into non-toxic
byproducts, it is regarded as an eco-friendly disinfection solution. In order
to meet the growing global demand for finding environmental friendly solutions,
the peracetic acid is getting traction.
Applications Versatility: Peracetic acid’s application is not limited to healthcare sector. It has
a wide range of applications from wastewater treatment to sanitization of food
processing equipment and others.
Region-wise Market
Insights
Asia Pacific accounted for the largest market share at 37.8%
in 2022 moreover, Asia Pacific is also expected to register the
fastest growth, expanding at a CAGR of 8.0% between 2023 and 2030.
In North America and Europe, the
presence of robust industrial infrastructure demands for large amount of
disinfected and sterilized water and hence peracetic acid finds its
application. Additionally, the peracetic acid is also used in cleaning
instruments and appliances in the factories. The healthcare sector is also huge
in these regions, thereby further fueling the need for PAA in cleaning medical
instruments and equipment.
Asia- Pacific is emerging as a
growth engine for the world’s peracetic acid market owing to increasing demand
in nations such as China and India. Its development is attributed to
maturing food and beverage industry, growing healthcare facilities, and
increased focus on hygiene and sanitation. The other important development
is that peracetic acid is increasingly used for water treatment and agriculture
in Asia-Pacific region.
The peracetic acid market in South
America and the Middle East has experienced a persistent growth due to similar
factors such as increased sanitary standards, intensified industrial
developments and environmental problems. As regulations tighten-up and
peracetic acid benefits getting traction, these regions will continue adding to
the growth of the world market.
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Market Competition Landscape
In a dynamic and expanding
industry, a mix of well-known multinational corporations and specialized
manufacturers compete in the global peracetic acid market for market share and
innovation. In the worldwide peracetic acid market several major firms
dominating the market. Some of these big companies usually offer a large
number of products, extensive distribution channels, and international
visibility, which are just but some of their attributes. However smaller,
specialized players do exits but serve specific markets and applications
locally.
Prominent players in the market
include:
· Solvay S.A.
· Ecolab Inc.
· Evonik Industries AG
· PeroxyChem LLC
· Promox S.p.A.
· Kemira Oyj
· Enviro Tech Chemical Services, Inc.
· Airedale Chemical Company Limited
· Christeyns
· Aditya Birla Chemicals
The Aditya Birla Group is a major
player in the worldwide peracetic acid market. Peracetic acid solutions are
highly rated for their ability to maintain hygienic conditions in sectors such
as water treatment, food processing, healthcare and agriculture. It is known
for its product quality and providing environmental friendly solutions. On the
other hand, the Belgium based industry Solvay provides peracetic acid solutions
under the brand name Proxitane. The company is well known for manufacturing and
supplying a large amount peracetic acid.
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