Congruence Market Insights is Best Peracetic Acid Market
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.
Contact
Us:
Ms.
Shalaka Dubey
Senior
Sales Manager
Phone: +1
304-602-2335
Email: sales@congruencemarketinsights.com
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