PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515402
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515402
Peracetic Acid Market size was valued at USD 876.23 Million in 2023, expanding at a CAGR of 8.9% from 2024 to 2032.
Peracetic acid also referred to as peroxyacetic acid or PAA is a type of organic chemical compound that finds application in various fields. It is commonly used as a chemical disinfectant in healthcare settings, a sanitizer in the food industry, and a disinfectant in water treatment processes. The versatility and effectiveness of peracetic acid are well-known among its users, and professionals who have environmental responsibilities often consider it to be environmentally friendly. This is due to its decomposition products, which include acetic acid, oxygen, and water. However, it is important to note that industrial hygienists recognize peracetic acid as highly corrosive and a strong oxidizer. Exposure to peracetic acid can lead to severe irritation of the eyes, skin, and respiratory system.
Peracetic Acid Market- Market Dynamics
The rising adoption of peracetic acid for efficient water treatment solutions is anticipated to drive the growth of the market
Peracetic acid undergoes decomposition into harmless substances, mainly acetic acid, oxygen, and water. This biodegradability reduces its environmental impact, making it a favored option for sustainable water treatment methods. Peracetic acid acts as a potent oxidizing agent, enhancing its efficacy in water disinfection and sanitation. The United States Environmental Protection Agency (US EPA) estimates that approximately 23,000 to 75,000 sanitary sewer overflows occur annually. An estimated 3 billion to 10 billion gallons of untreated waste are discharged from sewage treatment facilities each year. Moreover, continuous research and development efforts may unveil new uses for peracetic acid in areas like agriculture, aquaculture, and various industrial processes, thereby broadening its market potential. Nevertheless, the high production costs could impede market expansion.
Peracetic Acid Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 8.9% over the forecast period (2024-2032)
Based on Grade segmentation, Solution Grade was predicted to show maximum market share in the year 2023
Based on application segmentation, Disinfectant was the leading type in 2023
Based on End-User segmentation, Food & Beverage was the leading type in 2023
Based on region, Asia Pacific was the leading revenue generator in 2023
The Global Peracetic Acid Market is segmented based on Grade, Application, End-User, and Region.
The market is segmented into two categories according to Grade: Solution Grade and Distilled Grade. Solution Grade holds the majority share in the market. The peracetic acid market, especially for solution-grade products, is witnessing significant growth attributed to its extensive applications and exceptional disinfectant characteristics.
The market is categorized into three segments according to their application: Disinfectant, Sterilant, Sanitizer, and Others. The dominant segment in the market is Disinfectant. Peracetic acid (PAA) is widely utilized as a powerful disinfectant in numerous industries owing to its strong oxidative capabilities, extensive antimicrobial properties, and environmentally friendly byproducts.
The market is categorized into four segments based on the end-user: Healthcare, Food & Beverage, Water Treatment, Pulp & Paper, and Others. The dominant segment in the market is the Food & Beverage industry. Peracetic acid (PAA) has extensive usage in the food and beverage sector because of its potent oxidizing properties, making it a highly efficient disinfectant and sanitizer.
Peracetic Acid Market- Geographical Insights
Geographically, this market spans across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further segmented by countries contributing to business activities. The market is predominantly led by Asia Pacific, driven by the growing adoption of food safety measures by the food and beverage industries. The Asia Pacific region is witnessing rapid industrial and urban development, resulting in a heightened demand for advanced sanitation and disinfection solutions across various sectors, especially in food and beverage. The World Bank's Board of Executive Directors has recently sanctioned a loan of USD400 million for the China Food Safety Improvement Project, aimed at enhancing food safety management at national and subnational levels in China and mitigating food safety risks in selected value chains. North America follows closely as the second largest region for market expansion, attributed to the increasing emphasis on hygiene and sanitation, along with stringent regulations about disinfection and water treatment methods.
In the peracetic acid market, there is a high level of competition among various key players. This competition is driven by the growing demand in industries such as food and beverage, healthcare, water treatment, and agriculture. To stay ahead, companies are focusing on research and development to create advanced peracetic acid formulations that offer improved stability, efficacy, and safety features. The market is also witnessing the rise of innovative solutions, including concentrated forms and eco-friendly formulations, which are gaining popularity. Additionally, forming strategic alliances with other industry players, research institutions, and technology providers is helping companies expand their market reach and enhance their product offerings. These collaborations also enable knowledge sharing and foster technological advancements.
Ecolab has recently introduced Active OX+, a food contact sanitizer that does not require rinsing. This particular sanitizer has been approved by the U.S. Organic Materials Review Institute (OMRI) and is suitable for application on various food contact surfaces that are hard, non-porous, and have been pre-cleaned. These surfaces include pipelines, tanks, vats, fillers, evaporators, pasteurizers, and associated equipment found in facilities such as dairy processors, beverage and food processing plants, as well as breweries.
Solvay has recently declared the initiation of its Peroxides for the Future ("P4F") initiative, a long-term strategy aimed at adjusting its industrial operations and ensuring the availability of products in the locations that are most crucial for its customers.
GLOBAL PERACETIC ACID MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
ACURO ORGANICS LIMITED
Aditya Birla Chemicals
Airedale Chemical Company Limited
Biosan
Christeyns
Diversey, Inc
Ecolab
Enviro Tech Chemical Services Inc.
Evonik Industries AG6.
Hydrite Chemical
Kemira
MITSUBISHI GAS CHEMICAL COMPANY, INC.
Solvay
Stockmeier Group
Other