Peracetic Acid Market
By Application (Sterilant, Sanitizer, Disinfectant, Others),
By End Use Industry (Healthcare, Food and Beverage, Water Treatment, Pulp & Paper, Others),
By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa):
Global Analysis and Forecast 2023-2033
The global peracetic acid market will be worth more than USD 1823 billion 2033.
The rising usage of the product in the healthcare industry is predicted to significantly contribute to the expansion of the industry. Additionally, factors, including the growing demand for bio-based chemicals, the development of novel methods for incorporating peracetic acid into a wide range of products, and developments in manufacturing techniques, are expected to bring up new opportunities for the sector. The US Food and Drug Administration (FDA) recognizes peracetic acid as a safe substance that can be used as a preservation and an antibacterial. Several applications of peracetic acid as preservatives and microbiological disinfectants have emerged in recent years. For instance, according to Germany Trade and Invest (GTAI), total food retailing sales will exceed EUR 227 billion (US$236.43 billion) in 2020 as the industry grows manufacturing capacity and adapts supply chains to changing demand trends. Likewise, Ecotone, a French company, invested €20 million (US$21 million) in 2022 to enhance its capacity for plant-based beverage manufacturing by 30% by 2030. Peracetic acid usage has increased due to the growing food and beverage industry, resulting in growth for the Peracetic Acid Market.
The global peracetic acid market is highly fragmented, with large businesses operating at both the international and regional levels. Companies in the peracetic acid sector are expanding their global footprint through acquisitions, partnerships, and long-term and service contracts. For instance, In April 2020, the Environmental Protection Agency authorized Solvay's PROXITANE AHC for use against SARS-CoV-2 in the United States. This virus strain causes COVID-19 (EPA). PROXITANE AHC is a concentrated disinfection composed of hydrogen peroxide and peracetic acid that destroys bacteria, viruses, and fungi such as staphylococcus, trichophyton mentagrophytes, salmonella enterica, vesicular stomatitis virus, others.
According to the CXOs and primary research conducted, the pulp and paper business is expanding; for example, the Minister of Natural Resources approved a US$3.8 million investment in Kelowna-based Red Leaf Pulp via Sustainability Development Technology Canada in 2021. (SDTC). Moreover, according to Invest India, India's paper and paperboard business is expected to increase 6-7% yearly. Peracetic acid is used in the pulp and paper industries as an environmentally friendly oxidizing biocide. It effectively removes inorganic and purified microbiological slime deposition from the pulp. As a result, the expanding pulp and paper sector will need more peracetic acid, driving the market growth in the upcoming period.
The peracetic acid market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In line with the analyzed region, the North American region will witness the highest market share, followed by Europe, Asia-Pacific, Latin America, and Middle East & Africa. The increased use of peracetic acid in diverse applications, including healthcare, sewage treatment, food and beverage, and the pulp and paper industry, is credited to the region's growth. Furthermore, rising foreign direct investment enhances the Asia Pacific market due to cheap labor and easy availability of raw materials, which will drive the Peracetic Acid Market growth. The major companies operating within the market are Acuro Organics Limited, Aditya Birla Chemicals, Diversey Holdings LTD, Evonik, Enviro Tech Chemical Services, Inc., Jubilant Life Sciences Ltd, Mitsubishi Gas Chemical Company, Inc., Promox, Seeler Industries Inc., Solvay.