The global Peracetic Acid Market Growth Accelerated by Wide Range of Applications

 


Peracetic acid is an effective sterilizing and bleaching agent with wide applications in food processing, healthcare, water treatment and other industries. It is known for its strong bleaching and antimicrobial properties while being more environment-friendly than chlorine-based disinfectants. Growing demand from food processing, healthcare, agricultural and other segments is driving increased production of peracetic acid.

The global Peracetic Acid Market is estimated to be valued at US$ 872.6 Mn in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The growth of the peracetic acid market is majorly driven by its increasing use for disinfection of food industry equipment, hospital equipment and treating industrial wastewater. It is becoming a popular sanitizer and disinfectant owing to its effectiveness and environmental friendliness as compared to chlorine. Peracetic acid breaks down to acetic acid, water and oxygen and does not leave behind any toxic residues. Moreover, rising awareness about environmental hazards of chlorine is further propelling the demand for peracetic acid from wastewater treatment plants. Growth in food processing and pharmaceutical industries along with stringent regulations regarding disinfection and sanitization are some of the key factors expected to boost the market over the forecast period.

Segment Analysis
The peracetic acid market is segmented into grade, form, end use industry and region. The disinfectant grade segment dominated the market in 2020 due to extensive use of peracetic acid as sanitizer and disinfectant in healthcare, food & beverage and other industries. Peracetic acid in disinfectant grade provides desired antimicrobial activity at low concentrations and does not leave harmful residues.

Key Takeaways
The global peracetic acid market is expected to witness high growth. The global Peracetic Acid Market is estimated to be valued at US$ 872.6 Mn in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030.

The Asia Pacific region dominated the global peracetic acid market in 2020 and is expected to continue its dominance during the forecast period. Rapid industrialization and growing demand from industries such as healthcare, food processing are driving the demand for peracetic acid in the region.

Key players related content comprises:
Key players operating in the peracetic acid market are Kemira Oyj, Solvay S.A., Promox S.p.A., Evonik Industries, Ecolab Inc., Thai Peroxide Limited, Mitsubishi Gas Chemical Company, Inc., PeroxyChem LLC and Diversey Inc. Kemira Oyj leads the market with its wide product portfolio and global presence across major markets. 

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