Peracetic Acid Market Size

Global Peracetic Acid Market Overview

The Peracetic Acid Market Size was valued at USD 0.10 Billion in 2022. The Peracetic Acid industry is projected to grow from USD 0.15 Billion in 2023 to USD 1.8 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.7% during the forecast period (2023 - 2030). Increasing the use of PAA in manufacturing sanitizers, bleaching agents, and disinfecting products from food & beverages, water treatment, and healthcare applications is expected to drive the market growth. Additionally, the emergence of new applications along with product concentration is likely to boost market growth.         

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Peracetic Acid Market Trends

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  The high demand for the processed food industry is boosting market growth.

  
  

There are so many factors driving the peracetic acid market. One of the major drivers of the peracetic acid market is the high demand for the processed food industry. The U.S. Food and Drug Administration (FDA) has recognized this product as safe for food. Peracetic acid is highly used in food and beverage Industries to keep the freshness of the food for a long time and improve the taste as well. It is also used as an antimicrobial agent and bleaching agent for washing fruits and vegetables. The rapid growth processed food industry and increasing awareness of hygiene are driving the peracetic acid market. Sanitizers and disinfectants play a huge role in preventing the growth of bacteria; as a result, the use of peracetic acid is increasing. Peracetic acid also increases the shelf life, safety of the product's band slows the thermal degradation. The use of peracetic acid for various applications is driving the peracetic acid market's peracetic acid market growth.

Additionally, The major application of peracetic acid is in food, and pharmaceuticals for water treatment. And these sectors are growing at a rapid rate. The food sector is increasing due to the increasing Economic and changing lifestyle of people. Food processing and packaging are used for the products such as milk, juices, tea, and drinks. Apart from that, peracetic acid is used in pharmaceuticals, hospitals, and other sectors for many treatment procedures. The growth of all the sectors will generate more opportunities for the peracetic acid market.

Peracetic Acid Market Segment Insights

Peracetic Acid Application Insights

The Peracetic Acid Market segmentation, based on Application, includes Sterilizer, Disinfectant, Sanitizer, and Others. It is highly used in the food sectors and pharmaceuticals sector for maintaining better hygiene. Disinfectant is expected to be responsible for the highest share of the peracetic acid market in the forecast period. Disinfectant is the largest segment in the market as well.

Peracetic Acid End-User Insights

The Peracetic Acid Market segmentation, based on End-User, includes Healthcare, Food & Beverages, Water Treatment, Pulp & Paper, and Others. Vast growth in the food sector, especially in developing countries, will boost the market growth in the coming years. Food and beverage accounted for the highest share in this segment with $35 million and a CAGR of 8.5%. The peracetic acid market will also see positive growth in the pulp and paper bleaching Industry as well. Increasing bleaching activities will push the market growth further.

Figure 2: Peracetic Acid Market, by Application, 2023 & 2030 (USD Billion)           

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Peracetic Acid Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Europe is expected to lead the peracetic acid market in terms of value attributed to the strong presence of end-user industries. Asia Pacific is expected to be the fastest-growing region in terms of volume due to the easy availability of raw materials and advanced technological advancements.

Figure 3: PERACETIC ACID MARKET SHARE BY REGION 2023 (%)       

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review 

North America is expected to show considerable growth due to increasing demand for sanitizers and disinfectants. Latin America & Middle East & Africa shall exhibit sluggish growth by the end of the forecast period.

Peracetic Acid Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Peracetic Acid market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Peracetic Acid industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Peracetic Acid. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Peracetic Acid industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Peracetic Acid industry to benefit customers and expand the market sector. The Peracetic Acid market has recently given medicine some of the most important advantages. Major Peracetic Acid market players, including Jubilant Life Sciences Ltd (India), Aditya Birla Chemicals (India), ACURO ORGANICS LIMITED (India), Hydrite Chemical (U.S.), Solvay (Belgium), and others, are attempting to increase market demand by funding R&D initiatives.

Jubilant Biosys is a biotechnology company. It has expertise in the fields of toxicology, drug discovery, medicinal and synthetic chemistry, in vitro biology, preclinical and digital, pharma IT services, and others.

Also, Solvay is an advanced materials and specialty chemicals company. It operates through three segments: Materials, Chemicals, and Solutions. The Materials segment provides specialty polymers and composite materials. The Chemicals segment offers amines, antioxidants and stabilizers, composites, mining chemicals, polymers, surfactants, etc.

Key Companies in the Peracetic Acid market include

• Jubilant Life Sciences Ltd (India),


• Aditya Birla Chemicals (India),


• ACURO ORGANICS LIMITED (India),


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  Hydrite Chemical (U.S.),


• Solvay (Belgium),


• Evonik Industries AG (Germany),


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  Ecolab (U.S.),


• Enviro Tech Chemical Services, Inc (U.S.),


• MITSUBISHI GAS CHEMICAL COMPANY, INC (Japan),


• Belinka Perkemija,


• o. (Slovenia),


• Promax (Italy),


• Kemira Oyj (Finland)

Peracetic Acid Industry Developments

In September 2019, Enviro Tech invested a leading manufacturer of Air Pollution Monitoring Instruments invested US$ 8 Million to build a new manufacturing facility in Level and, Texas Industrial Rail Park. This new manufacturing plant uses advanced technologies for treatment and reuse of water, reuse of 90% solid waste to recyclers, energy-saving plant designs and equipment.

In February 2020, Evonik acquired Peroxy Chem (US) for US$ 640 million. Peroxy Chem produces hydrogen peroxide (H2O2) and peracetic acid (PAA), making it suitable for high-margin special applications. This acquisition opens up further growth opportunities for Evonik, especially in the environmentally friendly disinfectant market.

April 2020, Solvay received the approval to use Proxitane AHC against COVID-19. It is a concentrated liquid disinfectant composed of peracetic and hydrogen peroxide.

Peracetic Acid Market Segmentation

Peracetic Acid Application Outlook

• Sterilizer


• Disinfectant


• Sanitizer


• Other

• <5% Grade


•  5-15% Grade


•  >15% Grade

• Healthcare


• Food & Beverages


• Water Treatment


• Pulp & Paper


• Others

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America