Peracetic Acid Market is valued at USD 859.3 Million in 2021 and expected to reach USD 1434.9 Million by 2028 with the CAGR of 7.6% over the forecast period.
Global Peracetic Acid Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Increasing demand for peracetic acid in various applications and rising demand for food processing and beverage industry, are some of the major factors driving the growth of the Global Peracetic Acid Market.
Peracetic acid (also known as peroxyacetic acid) is an organic compound, a colorless liquid with a strong odor close to acetic acid. There are various types of peracetic acid such as disinfectant, sanitizer, sterilant, and others. Peracetic acid is used as an antiseptic in various industrial as well as domestic processes, including food establishments, agricultural processing, medical facilities, toilets, dairy processing plants, and pasteurizers in breweries, wineries, and beverage plants. It is also used as a disinfectant for medical supplies and to prevent biofilm formation in the pulp industry.
The Covid-19 pandemic has shown a negative impact on the growth of the global peracetic acid market. Due to the nationwide lockdown, food & beverages, oil & gas, textiles, and wastewater treatment plants were put on hold in 2020. Also, disruptions in the supply chain led to an insufficient supply of chemicals that reduced the production of peracetic acid. However, after the pandemic market will be expected to recover.
The global peracetic acid market is segmented on the application, end-use and region & country level. Based on application, the global peracetic acid market is segmented into disinfectants, sanitizers, sterilants, and others. By end-use, the global peracetic acid market is segmented into chemical, food & beverage, pharmaceutical, wastewater, paper, and others.
The regions covered in the global peracetic acid market report is North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global peracetic acid is sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.
Some major key players for the global peracetic acid market report cover prominent players like Evonik Industries AG, Solvay SA, SEITZ GmBH, Mitsubishi Gas Chemical Company, Ecolab Inc., Enviro Tech Chemical Services, Christeyns, Jubilant Life Sciences, and Sopura Kemira Ojy, and others.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 859.3 Million|
|Base year considered||2021|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 1434.9 Million|
|Tables, Charts & Figures:||175|
|Peracetic Acid Companies||Evonik Industries AG, Solvay SA, SEITZ GmBH, Mitsubishi Gas Chemical Company, Ecolab Inc., Enviro Tech Chemical Services, Christeyns, Jubilant Life Sciences, and Sopura Kemira Ojy, and others.|
|Segments Covered||By Application, By End-User|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
Enviro Tech Introduced PeraGuard the First Dry Peracetic Acid (PAA) Sanitizer
On September 23rd, 2021; Specialty chemical manufacturer Enviro Tech Chemical Services (ETCS) introduced the world's first and only dry peracetic acid (PAA) floor and equipment sanitizer. PeraGuard, a patented formulation, is designed to improve environmental biosecurity and hygiene on surfaces where conditions are favorable for microbial growth. The product is EPA registered for use in food & beverage facilities, as well as many other manufacturing & processing settings. In addition, PeraGuard uses the field to control ammonia and odors.
Increasing Demand for Peracetic Acid in Various Applications, Rising Demand for Food Processing and Beverages, and Growing Adoption for Wrapped Food are Some of the Major Factors Driving the Growth of the Global Peracetic Acid Market
One of the major factors driving the growth of the peracetic acid market is the increasing demand for peracetic acid in various applications. Disinfectants, sanitizers, chemical disinfectants, and other biocide chemicals play an important role in inhibiting the growth of microorganisms. Peracetic acid is an effective product and is commonly used as an environmentally friendly alternative to chlorine for wastewater treatment. It is an ideal replacement for chlorine for use as bleach and disinfectant. Peracetic acid is one of the innovative developments in the biocide industry due to its performance advantages over other biocides. Product awareness and favorable characteristics (long shelf life, optimal performance, safe by-products, and slow thermal degradation) are attracting end users to use peracetic acid as a product. Increasing demand for peracetic acid in various applications is driving the market in various end-use industries.
In addition, the rising demand in food processing and beverages industry is boosting the growth of the peracetic acid market. Rapid population growth due to irregular family planning in most parts of the world is driving the demand for frozen meat, non-aerated and aerated beverages, and poultry, which are likely to drive the demand for the worldwide parasitic acidic. In addition, the availability of clean drinking water and increased awareness among consumers regarding hygiene, as these areas are more susceptible to microbial contamination, especially in frozen food, has increased the demand for peracetic acid.
Moreover, the growing adoption of wrapped food is also supplementing the peracetic acid market growth. Peracetic acid is a highly effective antibiotic compound and is more effective than hydrogen peroxide. Peracetic acid applied directly to meat helps reduce pathogen levels. Peracetic acid lacks harmful decomposition products such as acetic acid, water, oxygen, and hydrogen peroxide, which increases the ability to remove organic matter at low temperatures. Peracetic acid is used in the U.S. as a sanitizer for packaged foods such as fruits, vegetables, poultry, seafood, and others. Approved by the Food and Drug Administration (FDA). Thus, the use of peracetic acid in food products as a disinfectant against bacteria, fungi, and viruses is predicted to increase the demand for peracetic acid.
However, the high production cost and low awareness of the benefits associated with peracetic acid may hinder the growth of the global peracetic acid market. Despite that, rising technological advancements may create more opportunities for the fur5ther growth of the global peracetic acid market.
North America Holds a Major Share in the Global Peracetic Acid Market:
Geographically, North America is expected to dominate the global peracetic acid market within the forecast period due to the increasing consumption of food, rising use of PAA in water treatment, and the presence of key players in this region. Increasing consumption of food is driving the growth of the market. For instance, according to Organization for Economic Co-operation and Development, in 2019; the consumption of food grains for food is estimated to increase by about 150 million tonnes during the forecast period. Therefore, increasing consumption of food has expected to drive the market. In addition, the rising use of PAA in water treatment is another factor supplementing the market growth in this region. PAA finds wide applications in water treatment. It does not break down into environmentally harmful products and is therefore favored by government agencies such as the EPA. Also, it is economical as well as efficient compared to other alternatives like sodium hypochlorite.
Europe is the fastest-growing region in the global peracetic acid market due to the increasing usage of food and beverage, and the high demand for peracetic acid in this region. Peracetic acid is increasingly used in the food and beverage industry due to its excellent benefits and environmentally friendly characteristics. They are used to sterilize or disinfect equipment, surfaces, reservoirs, and plastic bottles and pipes. In food and beverage packaging applications, many types of products are packaged in PET or PE plastic bottles. The packaging material is sterilized with a peracetic acid solution during the manufacturing process to protect the beverage.
Peracetic Acid Market key Players
Key Benefits of Global Peracetic Acid Market Report–
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