According to the new market research report "Peracetic Acid Market by Application (Disinfectant, Sterilant, Sanitizer), End-use Industry (Healthcare, Food & Beverage, Water Treatment, Pulp & Paper), and Region (North America, Europe, APAC) - Global Forecasts to 2030", published by MarketsandMarkets™, the Peracetic Acid Market size is projected to grow from USD 813 million in 2020 to USD 1,685 million by 2030, at a CAGR of 7.6%.
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The drivers of the industry are the growing usage of peracetic acid in end-use
industries and the demand for high-quality biocides products. The availability
of different product grades and shift in consumer preference toward
high-quality products are also important drivers of the market in recent times.
Increase in the use of peracetic acid in industries, such as healthcare, food
& beverage, water treatment, pulp & paper, and the emergence of new
applications (laundry, breweries, wineries, and agriculture) are expected to
change the market dynamics. The growing demand in India, China, Brazil,
South-East Asia, and Mexico is expected to drive the market during the forecast
period.
The sterilant application is projected
to grow at the highest CAGR during the forecast period.
The sterilant segment is projected to grow at a higher rate than the other
application segments. It is an emerging application of peracetic acid. The
major factor responsible for the growth of sterilants is their increased demand
in the food industry, life sciences, pharmaceutical, and other industrial
products. The rising population is also projected to boost the demand from
end-user industries, such as healthcare and life sciences.
The water treatment end-use industry of
the peracetic acid market is expected to grow at the highest CAGR during the
forecast period.
The wastewater treatment application is witnessing a surge in demand and is
projected to register a high CAGR in the next five years, globally. The growing
and developing economies of Asia Pacific, such as China and India, with their
infrastructural and technological development in the end-use industries, are expected
to increase the demand for peracetic acid in the markets. The global water
treatment market will continuously grow at a higher rate and is projected to
drive the overall market of water treatment products. The superior peracetic
acid product is expected to surpass the biocides industry growth due to its
larger acceptance and rising demand from end-users.
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The peracetic acid market in Asia
Pacific is projected to grow at the highest CAGR during the forecast period.
The peracetic acid market in Asia Pacific is projected to grow at the highest
CAGR during the forecast period, due to the rising demand from end-use
industries, including water treatment, food, and healthcare is increasing the
demand for peracetic acid products. The market in Asia Pacific is driven by
increased foreign investments due to cheap labor and accessible raw materials.
In addition, government proposals to improve the healthcare and water treatment
activities along with the increase in the manufacture of end-use products, are
driving the peracetic acid market.
Major players operating in the peracetic acid market are Evonik Industries AG
(Germany), Solvay SA (Belgium), Mitsubishi Gas Chemical Company (Japan), Ecolab
Inc. (US), Enviro Tech Chemical Services (US), Kemira Ojy (Finland), Christeyns
(Belgium), SEITZ GmBH (Germany), Jubilant Life Sciences (India), and Sopura
(Belgium).
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