Global Peracetic Acid Market

Global Peracetic Acid Market Research, 2031

The global global peracetic acid market size was valued at $0.9 billion in 2021, and is projected to reach $1.8 billion by 2031, growing at a CAGR of 7.7% from 2022 to 2031.

The COVID-19 pandemic had positive impact on the global peracetic acid market. The spread of the pandemic increased the demand for sanitizer, cleaning & disinfection products owing to the rising awareness about health, hygiene, and safety. Besides, growing healthcare expenditure and an upsurge in the number of temporary hospitals propelled the demand for peracetic acid products globally.

Peracetic acid, also known as peroxyacetic acid is a colorless liquid with a strong odor. It is utilized as a versatile antimicrobial and antioxidant agent. It is also used as an effective bactericide and fungicide, primarily in food processing applications. It is used to disinfect or sterilize equipment, reservoirs, surfaces, and plastic bottles & pipes.

The increase in demand for peracetic acid from food & beverages industry is expected to serve as a crucial growth factor for the global peracetic acid market. Peracetic acid is widely utilized in the food industry, primarily in food processing and packaging of products, including juices, soft drinks, milk, and tea. It is used as an effective fungicide and bactericide in food processing applications and used for sanitizing food contact surfaces. It is also used as a food processing aid for antimicrobial intervention without imparting colors, odors, or flavors to the finished product. In the meat production industry, peracetic acid and chlorine are used as antimicrobials and are extremely effective at lowering pathogen levels if applied directly to the meat. It is also effective for lessening microbial contamination of seafood and for preserving seafood for longer time period. Further, numerous bottling plants utilize peracetic acid as a sanitizer and disinfectant in order to lower microbial contamination. Also, it is extensively utilized as a sanitizer in the brewing industry.

Further, rise in use of peracetic acid in the pharmaceutical industry is another key factor projected to foster the peracetic acid market growth during the forecast period. However, health hazards associated with peracetic acid is anticipated to hamper the growth of the global peracetic acid market. On the contrary, increased demand for peracetic acid in the water treatment industry is expected to generate lucrative opportunities for the global peracetic acid industry.

The peracetic acid market is segmented into application, end-use industry, and region. On the basis of application, the market is categorized into disinfectant, sanitizer, and others. On the basis of end-use industry, the market is divided into healthcare, food and beverage, water treatment, pulp and paper, and others. Healthcare segment is the fastest growing segment with the highest CAGR. In healthcare, peracetic acid acts similarly to oxidant biocides in inhibiting protein synthesis and other intracellular processes in bacteria and fungus, such as cell membrane and wall metabolic functions. Peracetic acid is used for disinfection in health care and food processing sectors. It is excellent in killing microscopic organisms and is used to eliminate bacteria, fungus, yeasts, spores, and viruses. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. The peracetic acid market share is analyzed across all significant regions and countries.

Asia-Pacific is projected to register a robust growth during the forecast period. In the Asia-Pacific region, the main usage of peracetic acid is to treat influents to eliminate bacteria and oxidize other microorganisms. Use of peracetic acid in food packaging has a longer shelf life and lower transportation costs and is used for milk products, low acid and high acid drinks. Peracetic acid has been shown to be useful in preventing microbial contamination of seafood and in keeping seafood fresher for extended periods of time.

Disinfectant segment dominated the global peracetic acid market in terms of revenue, in 2021. Peracetic acid is used as a disinfectant in chemicals that kill pathogens and other hazardous microbes. It can be used to deactivate a wide range of harmful bacteria. It also renders viruses and spores inactive. Peracetic acid inactivate gram-positive and gram-negative bacteria, fungi, and yeasts in less than 5 minutes at less than 100 ppm. Peracetic acid disinfectants are being used more widely in public places, transportation, hospitals, nursing homes, wastewater treatment plants, and even ordinary houses across the world to reduce viral bacterial, fungal infection.

Food and Beverage segment dominated the global peracetic acid market in 2021. Peracetic acid is used as an antimicrobial agent in meat, poultry, and seafood. It is used as a disinfectant in the food processing sector because it can easily kill bacteria, fungi, yeasts, spores, and pathogens in minutes. The peracetic acid is used to keep the food and beverage industry's working environment clean to prevent food contamination.

The major players operating in the global peracetic acid market include, Acuro Organics Limited, Airedale Chemical Company, California Soda Company, Diversey Inc, Ecolab Inc, Enviro Tech Chemical Services, Evonik Industries AG, Jubilant Pharmova Limited, Kemira Oyj, Lenntech B.V., Mitsubishi Gas Chemical Company, Seeler Industries Inc, Solvay, Sopura S.A, and Tanfac Industries.

COVID-19 Analysis:

The COVID-19 pandemic had positively influenced the peracetic acid market globally. The spread of the pandemic raised the demand for sanitizer, cleaning & disinfection products due to the increasing awareness about health and hygiene among the populace. Increasing demand for hospital beds and ICUs and surge in awareness among the population on hygiene and preventive healthcare raised the peracetic acid demand. Further, surge in healthcare expenditure along with growth in the number of temporary hospitals bolstered the demand for peracetic acid products worldwide.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global peracetic acid market analysis from 2021 to 2031 to identify the prevailing global peracetic acid market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global peracetic acid market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global peracetic acid market trends, key players, market segments, application areas, and market growth strategies.

 Global Peracetic Acid Market Report Highlights