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 showcased a revenue of USD 780 Million in 2023 and is projected to witness a compounded annual growth rate (CAGR) of more than 8% over the forecast period of 2023-2033.
Russia-Ukraine War Impact
About the Market
Impact of COVID-19
Global Economic Slowdown
How is this report helpful
Peracetic acid (peroxyacetic acid) is a white liquid with a strong acetic acid odor. Peracetic acid can be used as a disinfectant, sanitizer, and sterilant. Food preparation, agriculture process, healthcare centers, toilets, dairy processing facilities, pasteurizers in breweries, vineyards, and beverage factories are where peracetic acid is used as an antiseptic. It is also used to disinfect medical supplies and to keep biofilms at bay in the pulp sector. Acetic acid and hydrogen peroxide are combined with such an acid catalyst to make it. Peracetic acid is usually sold in 1% to 5% concentrations for the healthcare and food industries, and it must be diluted before use. Furthermore, the increasing use of peracetic acid in water treatment plants and its environmental benefits, are moving the market forward.
Moreover,peracetic acid leads other antiseptics in terms of performance. As a result, it is widely used in the biocide industry worldwide. Peracetic acid's long shelf life, outstanding performance, safe by-products, and progressive thermal degradation encourage users to employ it in various applications. In addition, rising consumer product awareness and increased use of products in several applications will drive the peracetic acid market during the projection period. Moreover, Peracetic acid and ethylene oxide are in high demand in the medical and healthcare sectors and the food service industry to clean food-contact surfaces and sanitize food-processing equipment.
Consumer lifestyle changes and increased purchasing power in both emerging and developed regions are expected to drive market growth. An increase in the number of working women and the growth of metropolitan populations drive increased demand for processed meals. Peracetic acid is a common preservative in meat, poultry, and seafood. Moreover, rising product acceptance for efficient water treatment solutions and the rising global need for potable water are propelling market expansion.
Impact of the Russia-Ukraine War on the Peracetic Acid Market
The market has suffered as a result of Russia's invasion of Ukraine. The terrible attacks on Ukrainian citizens and the devastation of residential areas and the health system have resulted in a health and humanitarian disaster. As a consequence of the incident, numerous clinical trials were postponed, and the pharmaceutical supply chain was interrupted. As a result of the harsh sanctions, a growing number of businesses are ceasing operations in Russia, resulting in fewer private organizations funding peracetic acid research and development.
Peracetic Acid : Market Scope
The peracetic acid market is divided into four segments as the application end-use industry. Furthermore, these segments are subdivided into respective categories and cross-referenced to North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa for regional analysis. The application segment is further categorized into sterilant, sanitizer, disinfectant, and others. The end-use industry segment is segregated into Healthcare, Food and Beverage, Water Treatment, Pulp & Paper, and Others. Each of these segments is further classified into regions: North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The historical dataset of 2018-2022 is provided in the report, whereas the forecast period of 2023-2033 is offered.
Sanitizer will capture the highest market share within the Application segment
The sanitizer market within the application segment will witness the highest market share within the forecast period of 2023-2033, owing to disinfectants eliminating microorganisms that can grow on dirty surfaces and contaminate food. Disinfectants are only effective on clean surfaces; they do not work well on unclean ones. Moreover, Peracetic acid and ethylene oxide are commonly used as disinfectants in the food and beverage sectors to maintain hygiene. Peracetic acid is utilized in a variety of industries, including food and beverage, pulp and paper, healthcare, and water purification. Furthermore, Conversely, pulp and paper and other categories are expected to increase at lower-than-average rates during the forecast period. New prospects for peracetic acid are expected to emerge as technology and innovation improve in the future year.
The food and beverages segment will witness the highest growth rate between 2023-2033
The food and beverages segment is expected to grow during the forecast period because Peracetic acid is widely used as a preservative in the food sector for meat, poultry, and fishery goods. The increase in consumption of food and beverage goods, including frozen meals and carbonated beverages, is driving market expansion. To decrease microbiological contamination, they are utilized as a sanitizer and disinfectant in numerous foods and bottling operations. Additionally, peracetic acid is commonly used as a brewing sanitizer. In accordance with US Department of Agriculture guidelines, peracetic acid can be applied directly to organic NOP-certified foods. Peracetic acid is becoming an increasingly popular antibacterial in so many beverage and food enterprises due to its high efficacy, practically total lack of toxic residues, simple administration (in water solution), and inexpensive cost.
Asia Pacific to capture the highest market share in the peracetic acid market
The Asia Pacific market is predicted to expand during the forecast period. Due to various advancements in the food and beverage industries, the Asia Pacific peracetic acid market has significant growth potential. Moreover, China is Asia Pacific's largest food and beverage market, including consumer spending in restaurants, shops, and other public venues.
Impact of COVID-19 on the Peracetic Acid Industry
The pandemic had an impact on numerous enterprises, including the peracetic acid sector. This is because preserving personal and household cleanliness is critical during the pandemic to limit disease transmission, and many people have purchased disinfection and sterilizing products to keep environments clean and hygienic in both commercial and residential premises. The probability of the virus resurfacing will drive peracetic acid demand over the projection period, causing the market to rise.
Peracetic Acid: Market Dynamics
The market dynamics section of the report covers an in-depth analysis of drivers and restraints opportunities impacting the drone camera market. The report also encompasses major market strategies practiced by the industry, followed by patent analysis, product analysis, competitive benchmarking of companies, PORTER and PESTLE analysis of the peracetic acid industry, pricing analysis, and geographic competitiveness to provide a detailed understanding. The major players operating 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. These companies cumulatively hold most of the drone camera market share and actively undergoes strategic development, such as new product launches, mergers, collaborations, business expansions, acquisitions, and long-term contracts to ensure market penetration. These companies also largely focus on research and development to gain technological competitiveness in the market. A detailed analysis of these companies is offered in the report.
Driver: Gaining popularity of Peracetic acid in water treatment.
Peracetic acid is widely used in the treatment of water and sewage around the globe due to its higher oxidation capability than other antiseptics. Peracetic acid has seen substantial expansion in water treatment in the last few years because of its advantages over chlorine-based chemistries. The lack of trihalomethane generation, a lower effect on wastewater quality, lower aquatic toxicity, and a lower environmental impact are among the positives. Water recycling is a critical strategy for alleviating the world's water crisis. Furthermore, Peracetic acid has lately gained popularity for use in wastewater purification. Utility companies typically employ disinfectants to neutralize and remove dangerous microorganisms that transmit waterborne diseases. Any disease-causing organisms, including bacteria, helminths, spores, and protozoa, will be sufficiently treated by a suitable disinfectant. PAA is typically found in concentrations ranging from 5% to 22%.
Restrain: Peracetic acid poses health risks.
Peracetic acid has a strong odor and is highly corrosive. Short-term or long-term exposure to the chemical can provide a variety of risks. Short-term skin, ocular, and respiratory tract exposure to this chemical may be dangerous. Additionally, there is scant evidence in animals that Peroxyacetic Acid causes cancer. It has the potential to induce lung cancer. Many scientists feel that there is no safe threshold for carcinogen exposure. Such compounds may also have the potential to harm human reproduction. Large-scale risks like explosions, fires, and reactivity issues are more possible in more extreme circumstances. It has been demonstrated that the chemical reacts violently with soft metals, including brass, copper, iron, and zinc. Moreover, the quantity of harm caused by such a product is a significant hurdle to industry growth.
Opportunity: Increasing need for peroxyacetic acid
Increased demand is expected to drive growth in the peroxyacetic acid market over the coming years. The sector is expected to grow as a result of an aging population, rising food demand, and increased demand for filtered water. Another key factor driving market expansion is an increase in demand for packaged meals. Many governments seek to provide adequate funds for producing peroxyacetic acid. Furthermore, Due to its antimicrobial qualities, PAA is a popular and dependable biocidal disinfectant in agricultural, culinary, and pharmaceutical environments and in the home. Peracetic acid (PAA) is an antibacterial that is frequently utilized in the food and protein sectors.
Peracetic Acid Market: Recent Developments
- In July 2022, Evonik's Active Oxygens business line unveiled a new sustainability strategy to increase the beneficial impact and minimize the environmental footprint of hydrogen peroxide, peracetic acid, and persulfates. This strategy contains real initiatives to reduce carbon emissions and increase resource efficiency in the production of these chemicals, intending to achieve climate neutrality across the business line by 2040.
- In December 2021, Arxada AG recently announced the completion of its acquisition of Enviro Tech Chemical Services, Inc. Enviro Tech is a market leader in the development of patented, high-performance antibacterial and biocidal products. Moreover, In its first six months as an independent company, Arxada, officially known as Lonza Specialty Ingredients (LSI), has completed its second significant acquisition. Arxada is owned by private equity firms Bain Capital and Cinven.
- In February 2020, After the relevant court in Washington D.C. dismissed the Federal Trade Commission's (FTC) complaint to stop the transaction, Evonik successfully closed the acquisition of PeroxyChem (Philadelphia) for $640 million.
In April 2020, The US Environmental Protection Agency approved Solvay's PROXITANE AHC for use against SARS-CoV-2, the viral strain that causes COVID-19 (EPA). It has been included in the EPA Registration Number 68660-11 list of disinfectants for the prevention of SARS-CoV-2 (List N).
In September 2019, Enviro Tech spent $8 million to build a new manufacturing facility in the Levelland, Texas Industrial Rail Park. Every year, it processes around 10,000 tonnes of locally sourced raw materials and is outfitted with cutting-edge automation, rail service, and environmental technologies.
- In September 2019, Enviro Tech spent $8 million to build a new manufacturing facility in the Levelland, Texas Industrial Rail Park. Every year, it processes around 10,000 tonnes of locally sourced raw materials and is outfitted with cutting-edge automation, rail service, and environmental technologies.
Peracetic Acid Market: Synopsis
The study of the peracetic acid market offers revenue and growth data sets of segments provided at the global, regional, and country levels. The report offers the historical data set of 2018-2022 and the forecast period of 2023-2033. For the purpose of analysis, Quadrant Market Insights (QMI) has segregated the peracetic acid market into two major segments as follows:
By End Use Industry
- Food and Beverage
- Water Treatment
- Pulp & Paper
The regional analysis of the peracetic acid market is as follows:
- Rest of Europe
- Rest of Asia-Pacific
Middle East & Africa
- South Africa
- Saudi Arabia
Key players operating in the peracetic acid industry are:
- Acura Organics Limited
- Aditya Birla Chemicals
- Diversey Holdings LTD
- Enviro Tech Chemical Services, Inc.
- Jubilant Life Sciences Ltd
- Mitsubishi Gas Chemical Company, Inc.
- Seeler Industries Inc.
Peracetic Acid Market: Who Should Purchase, and How It Will Help Readers
- The report is best suited for top-level decision-makers, individuals who are supposed to take a leadership role or require market research to start a business, independent researchers, research institutes, and anyone who wishes to gain detailed strategic insights into the peracetic acid market.
- This report provides a qualitative and quantitative analysis of the market segments, current trends, estimations, and dynamics of the peracetic acid market analysis from 2018 to 2033 to identify the prevailing market opportunities.
- Market research and information related to key drivers, restraints, and opportunities are offered.
- Porter's five forces and PESTLE analysis highlight the potency of buyers and suppliers to enable stakeholders' market profit-oriented business decisions and strengthen their supplier-buyer network.
- An in-depth analysis of the peracetic acid segmentation assists in determining 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 an analysis of the regional and global peracetic acid industry trends, key players, market segments, application areas, and market growth strategies.
- The report offers insights from primary interviews and CXOs of major industry players. It also offers a comprehensive contact and event repository to ensure future collaborations among industry stakeholders.
Peracetic Acid Market: Frequently Asked Questions (FAQ)
Q: How big is the peracetic acid market?
A: The global peracetic acid market showcased a revenue of USD 780.32 million in 2022 and is projected to witness a compounded annual growth rate (CAGR) of more than 8% over the forecast period of 2023-2033.
Q: Does the report have several peracetic acid numbers bifurcated by segments and regions?
A: The report offers a total number of peracetic acid market , further bifurcated into segments and regions. Please refer to the TOC page for more information.
Q: What are the major trends in the peracetic acid market?
A:Increase in inclination towards healthy lifestyle and developing habit to disinfect everything before usage post the COVID-19 outbreak is supporting the business opportunities within the market.
Q: How can I get the sample Report on the peracetic acid market?
A: The peracetic acid market report sample can be obtained on demand from the website. Also, 24*7 chat support and direct call services are provided to procure the sample report
Q: Is it possible to purchase a specific or customized report as per my needs
A: Yes, it is possible to purchase a specific part of the report or edit the scope of the report at your convenience. Feel free to drop us the mail/talk to our customer support or schedule a conversation to procure a customized report.
- End Use
- North America
- Latin America
- Middle East & Africa
- Gaining popularity of Peracetic acid in water treatment
- Increasing awareness of peracetic acid application in end user segment
- Possible health risk due to extended exposure to peracetic acid
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.