Peroxyacetic Acid Market Size was estimated at USD 1.2 Billion in 2022. The Peroxyacetic Acid market industry is projected to grow from USD 1.29 Billion in 2023 to USD 2.39 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8% during the forecast period (2023 - 2032). Foods are in popular demand among older people, and purified drinking water is in huge demand and is the key market driver contributing to the market’s growth and expansion.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The growing food demand among older people drives the market CAGR for peroxyacetic acid. The aging population, food consumption, and increasing need for filtered water are all expected to fuel market expansion. The increased demand for packaged meals additionally serves as a significant element driving market expansion. Governments from several nations are collaborating to give adequate finances for producing peroxyacetic Acid using innovative technology and machinery. The Acid contains oxidizing agents having a wide range of uses that are quickly biodegradable and leave no trace. The chemical's flexible features render it more acceptable for families and consumers. The Application of chemicals in water treatment, medical care, and foods & beverages is expected to drive the overall Market growth.
Additionally, APAC's significant expansion in end-user industries such as nourishment, pulp & paper, wastewater procedures, and consumables is expected to drive the market growth. Other important drivers driving market expansion include the widespread use of peroxyacetic Acid in medicine, medical, life science, and other industries. Because of a growing need for medications, pharmaceutical companies are expected to establish factories in APAC. As a result, pharmaceutical businesses are seeing phenomenal development in the region.
The covid 19 widespread has wreaked devastation on the medical system. The pandemic has progressed from a localized crisis to a worldwide pandemic. Even medical facility is flooded with hospitalized individuals as a result of the outbreak of coronavirus, and the propagation of the infection has prompted an upsurge in the stipulation for sterilized goods and sanitation, all due to increased public awareness of hygiene, security, and health. The growing knowledge among individuals about hygiene upkeep and an increase in spending on healthcare items or peroxyacetic acid products are the significant drivers driving market expansion.
For instance, according to Lt Gen Todd Semonite, the US Army Corps of Engineers sought hotels, dormitories, conference centers, and vast open places to create 341 temporary hospitals. A minimum of 10% of confirmed positive cases of covid necessitate ICU involvement, with 21-31% of patients in the United States requiring hospitalization and 5-11% requiring intensive medical attention. Such bed and ICU requirements and increased knowledge about hygiene and preventative healthcare increased the need for Peroxyacetic Acid. Thus, it is anticipated that demand for Peroxyacetic Acid will increase throughout the projection timeframe due to the Growing food demand among the elderly population. Thus, driving the Peroxyacetic Acid market revenue.
The Peroxyacetic Acid market segmentation, based on type, includes Disinfectants, Sanitizers, and Sterilant. The disinfectants segment dominated the market, accounting for 53% of the market share (USD 0.6 billion) in 2022. Demand from the food and drink, medical care, wastewater treatment, and paper and pulp sectors contributes to category expansion, benefiting the entire market.
Figure 1: Peroxyacetic Acid Market, by Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Peroxyacetic Acid market segmentation, based on Application, includes Food, Healthcare, Water Treatment, Pulp & Paper, and Others. The food category generated the most income of about 45% (USD 0.5 billion) in 2022. The food industry is anticipated to create novel applications and product categories. The major producers are working on new uses, and sample experiments to assess the efficacy of Peroxyacetic Acid throughout several industrial verticals are continuing. Water treatment is expected to grow significantly at a fast growth rate during the projected timeframe.
By region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Peroxyacetic Acid market area accounts for the second-highest market share and revenue, owing to rising R&D and technological developments that are driving up the need for Peroxyacetic Acid in the final-use sectors will boost the market growth in this region.
Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe region’s Peroxyacetic Acid market will dominate during the projected timeframe because it is frequently used for clarifying, disinfecting, and purifying salty water and wastewater. Peroxyacetic Acid is in great demand in industries such as chemical manufacturing, processing of food, and pulp & paper in this region. Further, the German Peroxyacetic Acid market holds the largest market share, and the UK Peroxyacetic Acid market is expected to grow and e3xpande steadily in the European region during the projected timeframe.
The Asia-Pacific Peroxyacetic Acid Market is expected to grow significantly quickly during the projected timeframe. The availability of readily available raw materials and inexpensive labor has increased investment from abroad in APAC as the need has increased. Moreover, China’s Peroxyacetic Acid market dominates the market share, and the Indian Peroxyacetic Acid market is expected to grow steadily in the Asia-Pacific region during the projected timeframe.
Leading market players invested heavily in research and development (R&D) to scale up their manufacturing units and product lines, which will help the Peroxyacetic Acid market grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their footprint, with important market developments including new product portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The Peroxyacetic Acid industry must offer cost-effective and sustainable options to survive in a highly fragmented and dynamic market climate.
Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the key business strategies organizations use in the Peroxyacetic Acid to benefit customers and capture untapped market share and revenue. The Peroxyacetic Acid industry has recently offered significant advantages to the wastewater treatment industry. Moreover, more industry participants are utilizing and adopting cutting-edge technology has grown substantially. Major players in the Peroxyacetic Acid market, including Solvay Chemicals, Evonik Industries, Ecolab, Aditya Birla Chemicals, Promox S.P.A, Christeyns, Enviro Tech Chemical Services, Peroxychem, and Seitz Gmbh, are attempting to expand market share and demand by investing in research and development (R&D) operations to produce sustainable and affordable solutions.
Enviro Tech Chemical Services is a leader in producing peracetic Acid and stabilized bromine compounds. It was initially released in 1991. In addition, Enviro Tech has warehouse and sales operations in Chile & Mexico. They manufacture EPA and FDA-approved solutions for a wide range of sectors, such as water from industrial processes treatment, poultry processing, farming, natural gas & oil, treatment of wastewater, and others. It owns 41 EPA enrollments, 15 FDA Food Contact Alerts, and 14 US patents. The manufacturing plants are located in Modesto, CA, & Helena, AR, with a total production space of 270,000 square feet. In May 202, Enviro Tech announced a licensing deal with PeroxyChem. The license contract grants the corporation permission to employ its US patent. The license agreement permits PeroxyChem & its affiliates to utilize the process described in the '321 patent across the country without violating the patent conditions. The '321 invention covers incursion approaches in a poultry processing facility chilling tank, also known as a reservoir, that uses peracetic Acid at an alkaline pH.
Solvay uses research to develop ideas that address current environmental, social, and economic issues for an improved future. It is a Belgian chemical business founded in 1863 and headquartered in Brussels, Belgium. It is a leader in Materials, Chemicals, and Solutions. It uses innovations in aircraft, vehicles, battery packs, smart or medical equipment, air and water treatment, and other fields to address key commercial, social, and environmental issues. They want to be the catalyst in sparking the next discoveries that will allow mankind to develop while safeguarding the earth in a world with a growing population with a hunt for resources. Solvay gained authorization to utilize Proxitane AHC with COVID-19 in April 2020. It serves as a peracetic and hydrogen peroxide-based powerful fluid sanitizer.
May 2021:Â Enviro Tech Chemical Services, based in Modesto, recently announced a licensing deal with PeroxyChem. The license contract grants the corporation permission to employ its US patent. The license agreement permits PeroxyChem & its affiliates to utilize the process described in the '321 patent across the country without violating the patent conditions. The '321 invention covers incursion approaches in a poultry processing facility chilling tank, also known as a reservoir, that uses peracetic Acid at an alkaline pH.
April 2020:Â Solvay gained authorization to utilize Proxitane AHC with COVID-19 in April 2020. It serves as a peracetic and hydrogen peroxide-based powerful fluid sanitizer.
April 2016: Ecolan introduced Synergex, a combined peracetic acid disinfection & sanitizer, in April 2016. This item is EPA-registered in the United States. It is intended to assist dairy, food, and beer processors in ensuring food quality, increasing efficiency, improving security at work, and reducing environmental impact.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 1.2 Billion |
| Market Size 2023 | USD 1.29 Billion |
| Market Size 2032 | USD 2.39 Billion |
| Compound Annual Growth Rate (CAGR) | 8% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â Solvay Chemicals, Evonik Industries, Ecolab, Aditya Birla Chemicals, Promox S.P.A, Christeyns, Enviro Tech Chemical Services, Peroxychem, and Seitz Gmbh |
| Key Market Opportunities | End-user sectors such as nourishment, paper and pulp manufacturing, wastewater treatment, and foodstuffs are experiencing tremendous expansion in APAC. |
| Key Market Dynamics | Foods are in popular demand among the elderly. Purified drinking water is in huge demand |
Peroxyacetic Acid Market Highlights:
Frequently Asked Questions (FAQ) :
The Peroxyacetic Acid Market size was valued at USD 1.2 Billion in 2022.
The Peroxyacetic Acid Market is projected to grow at a CAGR of 8% during the forecast period, 2023-2032.
Europe holds the largest share of the Peroxyacetic Acid Market.
The key players in the Peroxyacetic Acid Market are Solvay Chemicals, Evonik Industries, Ecolab, Aditya Birla Chemicals, Promox S.P.A, Christeyns, Enviro Tech Chemical Services, Peroxychem, and Seitz Gmbh.
The disinfectant category dominated the Peroxyacetic Acid Market in 2022.
Food holds the largest share of the Peroxyacetic Acid Market.
Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
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