Global Peracetic Acid Market Insights Forecasts to 2030
- The global Peracetic Acid Market was valued at USD 750.50 Million in 2021.
- The Market is growing at a CAGR of 8.5% from 2022 to 2030
- The global Peracetic Acid Market is expected to reach USD 1563.93 Million by 2030
- North America is expected to grow the fastest during the forecast period.
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The global Peracetic Acid Market is expected to reach USD 1563.93 Million by 2030, at a CAGR of 8.5% during the forecast period 2022 to 2030. One of the key drivers of the Peracetic Acid market expansion is due to the increase in demand for Peracetic Acid by the end-user industry. Food & beverage, healthcare, water treatment, and other sectors is credited with the expansion.
An extremely acidic liquid chemical is peracetic acid. Acetic acid and hydrogen peroxide are used in its production. After ozone, it is regarded as one of the most powerful agents. It is frequently utilised in equipment cleaning applications for sterilisation in many sectors food industry, healthcare, water treatment, and other sectors. It also goes by the name peroxyacetic acid. It is a white liquid with a pronounced, acetic acid-like unpleasant odour. It has corrosive potential. The peracetic acid market is being driven by the rise in peracetic acid (PAA), which is used as a disinfectant, disinfection, and bleaching agent in crucial applications such water treatment, food and beverage, and healthcare.
The market is comprehensively evaluated in the research on the global peracetic acid market. The research provides a thorough analysis of the market's major segments, trends, drivers, constraints, competitive environment, and other important elements. The market is expanding primarily as a result of rising peracetic acid demand from the water treatment sector. The industry is expanding as a result of rising water shortage issues and rising demand for drinking water brought on by a growing population. The need for clean, treated water is increasing due to global industrialisation. The peracetic acid market is anticipated to rise as a result of the explosive expansion of the paper, textile, and other manufacturing industries in both established and emerging areas.
During the forecast period, the peracetic acid market is also anticipated to benefit from the rising disinfection demand for household applications brought on by rising hygiene awareness. Additionally, there is a demand for disinfection goods due to the growth of retail commerce globally. Furthermore, it is asserted that the market's expansion is driven by the manufacturer's increasing focus on marketing their goods to the intended audience. There is a growing need for biocidal products due to the growth of the residential sector and rising health consciousness. In the foreseeable future, there will be a substantial growth opportunity in this. Demand is nonetheless hampered by high production costs and uninformed end users. In contrast to the anticipated revenue, this element is anticipated to impede the market's expansion. The product's high level of reactivity poses a serious obstacle to the market's expansion.
Global Peracetic Acid Market Report Coverage
|Market Size in 2021:||USD 750.50 Million|
|Forecast Period 2022-2030 CAGR:||8.5 %|
|2030 Value Projection:||USD 1563.93 Million|
|Historical Data for:||2019-2020|
|No. of Pages:||210|
|Tables, Charts & Figures:||116|
|Segments covered:||By Product, By Application, By Region|
|Companies Covered:||Evonik Industries AG, Solvay SA, Mitsubishi Gas Chemical Company, Ecolab Inc., Enviro Tech Chemical Services, Kemira Ojy, Christeyns, SEITZ GmBH, Jubilant Life Sciences, and Sopura.|
|Growth Drivers:||Rising Focus on Food Sterilization and Disinfection is expected to drives the markets growth over the forecast period.|
|Pitfalls & Challenges:||High Cost and Low Awareness of Benefits|
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This research report categorizes the Market for global Peracetic Acid based on various segments and regions, forecasts revenue growth, and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Global Peracetic Acid Market. Recent Market developments and competitive strategies such as expansion, Product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the Market. The report strategically identifies and profiles the key Market players and analyses their core competencies in each global Peracetic Acid Market sub-segments.
- Advantage of Peracetic Acid Over Other Substitute Biocides
- Government Regulations in the European and North American Regions
- Increasing Water Treatment Procedures
- Rising Focus on Food Sterilization and Disinfection
- High Cost and Low Awareness of Benefits
- Increasing Health and Environmental Problems
- High Growth Potential in APAC
- Emerging Applications Across Various Industries
- In 2021, the Sterilant segment dominated the Market with the largest Market share of 43.7% and Market revenue of 327.96 million.
Based on the Product, the global Peracetic Acid Market is categorized into Disinfectants,
Sanitizer and Sterilant. In 2021, the Sterilant segment dominated the Market with the largest Market share of 43.7% and Market revenue of 327.96 million. The Sterilant market category now has the largest market share and is anticipated to expand at a high CAGR over the anticipated years because Due to benefits such water solubility, little residue after washing, and no harm to the environment or human health, the sterilant category holds a significant market share. Due to its advantageous qualities and safety characteristics, peracetic acid has been employed by the food industry as a crucial raw material for sterilization, which drives the market expansion of the peracetic acid sector.
- In 2021, the Water Treatment segment accounted for the largest share of the Market, with 21.6% and a Market revenue of 162.10 million.
Based on the application, the Peracetic Acid Market is categorized into Healthcare Industry, Water Treatment Industry, Food Industry, Pulp & Paper Industry, Breweries, Laundry, Wineries, Chemical Processing and Agricultural. In 2021, the Water Treatment segment accounted for the largest share of the Market, with 21.6% and a Market revenue of 162.10 million. Throughout the forecast period, the Water Treatment segment is anticipated to maintain its leading position while expanding at the fastest CAGR Because technical advancements and innovations are concentrated on enhancing drinking water quality and decreasing wastewater discharge in the water treatment industry, this sector accounts for a sizable portion of the market. The usage of traditional water and wastewater treatment methods is growing as a result of the depletion of water resources, and the peracetic acid industry will see rapid industrialization.
Regional Segment Analysis of the Peracetic Acid Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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Asia Pacific emerged as the largest Market for the global Peracetic Acid Market, with a Market share of around 32.5% and 243.91 million of the Market revenue in 2021.
- Asia Pacific emerged as the largest Market for the global Peracetic Acid Market, with a Market share of around 32.5% and 243.91 million of the Market revenue in 2021. The demand for Peracetic Acid is being driven by the rising acceptance by the market. The market for Peracetic Acid was dominated by the Asia Pacific region because there is a developing market for peracetic acid products in end-use sectors like water treatment, food, and healthcare. Due to the cheap labour and easy availability to raw materials, the Asia Pacific market is growing, which will accelerate the market expansion for peracetic acid.
- North America Market is expected to grow at the fastest CAGR between 2021 and 2030, The demand for Peracetic Acid from the healthcare care industries is expected to expand over the course of the forecast period, which reflects well for the North American Peracetic Acid market.
The report offers the appropriate analysis of the key organizations/companies involved within the global Peracetic Acid Market along with a comparative evaluation primarily based on their Product offering, business overviews, geographic presence, enterprise strategies, segment Market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including Product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the Market.
List of Key Market Players:
- Evonik Industries AG
- Solvay SA
- Mitsubishi Gas Chemical Company
- Ecolab Inc.
- Enviro Tech Chemical Services
- Kemira Ojy
- SEITZ GmBH
- Jubilant Life Sciences
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Some of the Key Developments:
- In February 2020, The purchase of PeroxyChem (US) by Evonik was completed successfully. Manufacturer of peracetic acid and hydrogen peroxide, PeroxyChem is well-positioned in niche markets with strong margins. For Evonik, the purchase opened up new development prospects, particularly in the market for environmentally friendly disinfectants.
- In April 2020, The US Environmental Protection Agency authorised Solvay's PROXITANE AHC for use against SARS-CoV-2, the viral strain that causes COVID-19. It has been added to the list of cleaners that can be used to combat SARS-CoV-2.
- In September 2019, Ta A new manufacturing plant was constructed by Enviro Tech at the Levelland, Texas Industrial Rail Park for million investments. It employs cutting-edge automation, rail service, and environmental technology while processing around 10,000 tonnes of locally generated raw materials annually.
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Peracetic Acid Market based on the below-mentioned segments:
Global Peracetic Acid Market, By Product
Global Peracetic Acid Market, By Application
- Healthcare Industry
- Water Treatment Industry
- Food Industry
- Pulp & Paper Industry
- Chemical Processing
Global Peracetic Acid Market, Regional Analysis
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of South America
Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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