Peracetic Acid Market Size is USD 878.3 Million at a CAGR of 7.8% by 2030 | Reports and Data

 

Rising peracetic acid adoption in water treatment, rising demand for sterilising surgical equipment, rising peracetic acid use in crucial applications as a bleaching agent, and rising hygiene awareness among people are significant drivers driving market revenue growth.

The global Peracetic Acid Market size was USD 878.3 Million in 2021 and is expected to register a revenue CAGR of 7.8% over the forecast period, according to the latest report by Reports and Data.

Peracetic acid (PAA) is an organic chemical molecule that is utilised in a variety of commercial applications, including the pharmaceutical and food sectors, as well as manufacturing, healthcare, and water treatment. It is frequently employed in the production of pharmaceutical chemical intermediates and is stable in acetic acid, hydrogen peroxide, and water-based solutions. To make it, acetic acid and hydrogen peroxide are mixed with an acid catalyst. Peracetic acid is commonly marketed in concentrations ranging from 1% to 5% for the healthcare and food sectors, and it must be diluted before usage.

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Top Companies: Solvay, Evonik, Acuro Organics Limited, Mitsubishi Gas Chemical Company, Inc., Enviro Tech Chemical Services, Inc., Seeler Industries Inc., Diversey Holdings LTD, Kemira Oyj, Ecolab Inc., and Airedale Chemical Company Limited.

Further Key Finding from the Report Suggestion:

·         The worldwide peracetic acid market is divided into two types: solution grade and distilled grade. Due to the increased popularity of this chemical in food, health care, water treatment, and industrial applications, the distilled grade segment is predicted to account for the biggest revenue share throughout the forecast period. The principal use of distilled peracetic acid, which generates double bonds by adding an oxygen atom, is the industrial manufacture of epoxides. Furthermore, it is used to make nylon and synthetic glycero from propene. The food sector is the primary use for distilled peracetic acid, where it is utilised as a disinfectant and cleaning.

·         According to regional research, Europe accounted for the biggest revenue share in the worldwide peracetic acid market. This is due to the increasing use of this chemical in the water treatment, health care, and food and beverage sectors in nations around the area, particularly the United Kingdom, Germany, and France. Furthermore, the region's rising expansion of these businesses produces a significant need for peracetic acid. The food and beverage industry is Europe's most important manufacturing sector.

·         Evonik's Active Oxygens business line unveiled a new sustainability strategy on July 22, 2022, with the goal of increasing the positive impact and minimising the environmental footprint of hydrogen peroxide, peracetic acid, and persulfates. This strategy contains real initiatives to reduce carbon emissions and increase resource efficiency in the production of these chemicals, with the goal of achieving climate neutrality throughout the business line by 2040. In addition, Active Oxygens plans to market these chemistries as environmentally beneficial options in a range of growing sectors.

Market Overview:

Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.

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The global Peracetic Acid market is segmented into:

Type Outlook (Revenue, USD Billion; 2019-2030)

·         Solution Grade

·         Distilled Grade

Application Outlook (Revenue, USD Billion; 2019-2030)

·         Sterilant

·         Disinfectant

·         Sanitizer

·         Bleaching

·         Others

End-Use Outlook (Revenue, USD Billion; 2019-2030)

·         Food & Beverage (F&B)

·         Healthcare

·         Agriculture

·         Water Treatment

·         Pulp and Paper

·         Others

Regional Outlook:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Addressed in the Report:

• What are the dominating factors that are influencing the growth of the industry?
• In the forecast period, which market segment is expected to rise the most?
• What are the risks and challenges that the industry is facing?
• In the coming years, which area is projected to dominate the market?
• Who are the major players in the market?
• What kind of strategic business plans have they made?

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