Peracetic Acid Market worth $1.4 billion in 2028 - At a CAGR of 7.4%
Peracetic Acid Market Outlook: Growth Trends, Innovations, and Industry Insights
The report "Peracetic Acid Market by Grade (<5% Grade, 5%-15% Grade, >15% Grade), Application (Disinfectant, Sterilant, Sanitizer), End Use (Healthcare, Food & Beverages, Water Treatment, Pulp & Paper), and Region - Global Forecast to 2028", size is projected to grow from USD 1.0 billion in 2023 to USD 1.4 billion in 2028, at a CAGR of 7.4%. The peracetic acid market is witnessing robust growth, driven by a diverse array of end-use industries. This strategic assessment unveils how sectors such as healthcare, food & beverages, pulp & paper, and water treatment collectively act as influential drivers propelling the growth of the peracetic acid market. The symbiotic relationship between peracetic acid and these industries underscores their pivotal roles in fostering market expansion.
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Browse 353 market data Tables and 64 Figures spread through 304 Pages and in-depth TOC on "Peracetic Acid Market"
The 5%-15% segment is expected to account for the largest shares in 2023.
5-15% Grade, holds a prominent position within the peracetic acid market. Peracetic acid (PAA) solutions with concentrations between 5% and 15% offer a range of options for disinfection, sanitation, and other applications. The specific concentration within this range is chosen based on the requirements of the application and the level of antimicrobial activity needed. 5%-15% grade PAA is usually used for disinfection and sanitization in various industries such as healthcare, food processing, water treatment, and agriculture.
The disinfectant application segment is expected to account for the largest share in 2023.
Disinfectants hold a prominent application of peracetic acid. A disinfectant is a chemical agent that eliminates harmful microbes, thus preventing the transmission of hazardous organisms in the end products. It is applied to non-living objects to resist the growth of microorganisms thriving on the object. It generally does not kill the microorganisms. Peracetic acid is largely used as a disinfectant due to its ability to resist microbial growth. A stronger disinfectant eliminates microorganisms much faster in the disinfection process, which causes them to neutralize rapidly. Disinfectant is the largest application of peracetic acid. The growth factor of this segment is the high demand for peracetic acid-based disinfectants in the wastewater treatment, healthcare, pulp & paper industries and food & beverage. Peracetic acid is widely used in the disinfection of medical supplies in the healthcare industry. In the pulp & paper industry, peracetic acid is used to prevent biofilm formation and is also used in the water treatment industry to treat wastewater and sewage water. Peracetic acid is projected to have a high demand in the water treatment industry and is mostly used to disinfect and purify water treatment systems.
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Europe is expected to account for the largest share in 2023.
Europe region stands out as the largest market for peracetic acid, and several key factors underpin this prominence within the chemical industry. Firstly, the rapid industrialization and urbanization witnessed across several European countries; notably Germany and the UK, have fueled extensive infrastructure development. The main functions of peracetic acid in food processing and handling are as a disinfectant and a sanitizer for surfaces that come into touch with food.
The key players in the peracetic acid market include Solvay (Belgium), Evonik Industries AG (Germany), Ecolab Inc. (US), Mitsubishi Gas Chemical Company (Japan), Enviro Tech Chemical Services (US), Jubilant Life Sciences (India), National Peroxide Ltd. (India), Kemira Oyj (Finland), Seeler Industries Inc. (US), and Airedale Chemicals (UK).