Global Peracetic Acid Market Provides Regional Overviews, Respective Shares, Drivers
The global Peracetic Acid market was valued at US$874.8 million in 2021. It is estimated to grow at a CAGR of 6.3% during the forecast period mainly due to increasing use of the chemical as a sanitizer, disinfectant, and bleaching agent in various end-user industries such as food and beverage and healthcare.
ChemIntel360’s global Peracetic Acid market study is a 181-page report containing an in-depth analysis of the sector's historical and forecasted spending and consumption patterns. The study offers granular value and volume data from a global, regional and end-use industry perspective.
The base year is 2021 for the study with historical data between 2018 and 2021. The data forecast has been provided for the years between 2022 and 2029
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Peracetic Acid (PAA), also known as Peroxyacetic Acid, is a colorless liquid formed by combining Acetic Acid and Hydrogen Peroxide. It is a powerful antimicrobial agent owing to its high oxidizing potential.
Peroxyacetic Acid is a biocidal disinfectant used widely in the food, pharmaceutical, water treatment, and pulp and paper industry. Its antimicrobial properties make it ideal for use as a surface disinfectant in public spaces, hospitals, transportation, and cleaning in place (CIP) in the food and beverage industry.
Vaporized Peracetic Acid (VPA) is used extensively in medical device sterilization. It is a non-toxic, sterile processing solution that does not leave any harmful residuals, providing a safer work environment for employees and a safer product for patients.
Insights on End-Use Industry
Peracetic Acid has multiple applications across many end-use industries such as healthcare, food and beverage, water treatment, pulp and paper, and others.
The healthcare segment held the largest revenue share of the Peracetic Acid market in 2021 and held a share of 31% for the same year. It is extensively used to sterilize medical (endoscopes and arthroscopes), surgical (surfaces and operating rooms), and dental instruments. Additionally, Peracetic Acid is preferred over other disinfectants as it does not leave any toxic deposits during the sterilization process.
Insights on Region
Europe is expected to remain the largest market for Peracetic Acid (PAA) during the forecast period, mainly due to increased demand from end-user industries such as food and beverage, pulp and paper, and chemical processing. Moreover, Peracetic Acid is extensively used for clarification, disinfection, and purification in wastewater and water treatment plants.
Covid Impact
The spread of COVID-19 has increased individual awareness of cleanliness and self-hygiene and resulted in a phenomenal surge in demand for cleaning and disinfectant products, positively impacting the market for Peracetic Acid, used in environmentally friendly manufacturing disinfectants that are effective against bacteria and viruses. The pandemic is far from over, and the threat of reemergence of other variants is imminent. Under such circumstances, the demand for Peracetic Acid is expected to remain high, with the possibility of new players entering the market.
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Key Companies
The key companies operating in this market are Solvay SA, Evonik Industries AG, Ecolab Inc.,Mitsubishi Gas Chemical Company, Kemira Ojy,Enviro Tech Chemical Services, Christeyns,Sopura, SEITZ GmBH, and Jubilant Life Sciences.
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