The 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" The global 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%.
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 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 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.
