Peracetic Acid Market Growth Accelerated by Increased Demand from Water Treatment

 

Peracetic acid is an organic peroxide compound with strong bactericidal and sporicidal properties. It is used as a biocide and sanitizer in food processing, healthcare, and water treatment. Peracetic acid can easily kill microorganisms that cause illnesses and foodborne diseases. With its low toxicity and fast decomposition into non-toxic by-products, peracetic acid has gained significant popularity as an alternative to chlorine for disinfection applications. The global peracetic acid market is estimated to be valued at US$ 872.06 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:

One of the key drivers propelling the peracetic acid market growth is the increasing demand from the water treatment industry. Peracetic acid is widely used for disinfecting municipal and industrial wastewater as well as treated drinking water. It helps remove microbial contaminants such as Giardia, cryptosporidium, and E. coli from water supplies. With growing concerns about water scarcity and quality, water treatment plants across regions are incorporating peracetic acid into their disinfection processes. Its fast reaction and complete decomposition attributes make it an ideal replacement for traditionally used disinfectants like chlorine. The rapid infrastructure development in the water industry, especially in developing nations, is expected to boost the consumption of peracetic acid over the forecast period.

Segment Analysis
The global peracetic acid market is dominated by the food & beverages segment. Peracetic acid is widely used as a disinfectant and sanitizer in the food industry due to its effectiveness in killing bacteria, yeasts, and molds. It helps extend the shelf life of food products by preventing spoilage. Peracetic acid is approved by the Food and Drug Administration (FDA) and Environment Protection Agency (EPA) for direct food contact applications and is also classified as generally recognized as safe (GRAS) by the FDA. These approvals and classification have further enhanced its acceptance for food applications.

Key Takeaways
The global peracetic acid market is expected to witness high growth. It is projected to grow from USD 872.06 Million in 2024 to USD 1,567.87 Million by 2030, at a CAGR of 7.8% during the forecast period. The food and beverages segment is the major revenue generating sector and is expected to maintain its dominance in the coming years.

Regional analysis: North America is currently the largest and fastest growing regional market for peracetic acid. Stringent regulations regarding food safety and rising health awareness among consumers have boosted the demand for antimicrobial agents like peracetic acid in various end-use industries including food and healthcare. The growing meat and poultry industry in the US and Canada also contributes to market growth as peracetic acid is extensively used for disinfecting agricultural operations and food processing facilities.

Key players: 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 and Solvay S.A. are the largest producers of peracetic acid globally. PeroxyChem LLC leads the North American market with its wide product portfolio and strong distribution network across the region.

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