Peracetic Acid Market By Grade (Solution grade, Distilled grade), Application (Disinfectant, Sterilant, Sanitizer, Others), End-use industry (Healthcare, Food & beverage, Water treatment, Pulp & paper, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
Peracetic acid market is expected to rise by registering a healthy CAGR of 8.35% in the forecast period of 2020-2029. New applications and concentrations of products are expected to develop in the biocides industry. Key manufacturers are working on various niche and emerging applications and sample tests are being conducted to test the performance of peracetic acid across different industry verticals.
Peracetic acid (PAA) or peroxyacetic acid is a colorless, highly acidic liquid. Hydrogen peroxide and acetic acid are used as the primary component in the industrial production of peracetic acid. It is used in a variety of products with a concentration of between 5% and 35%. Peracetic acid is one of the most powerful ozone oxidizing agents. It is highly soluble in water and does not produce any by-products that are harmful to health and the environment.
Peracetic Acid Market Scope and Market Size
Peracetic Acid Market has been segmented on the basis of grade, application and end-use industry.
- On the basis of grade segment, the peracetic acid market is sub segmented into solution grade and distilled grade.
- Based upon application segment, the peracetic acid market is sub segmented into disinfectant, sterilant, sanitizer and others. The sterilant sub segment will grow by highest growth owing to the factors such as water solubility, leaving no residue after rinsing, and no harmful health or environmental effects.
- On the basis of end use industry segment, the peracetic acid market is sub segmented into healthcare, food & beverage, water treatment, pulp & paper and others. The water treatment is expected to hold largest CAGR due to technological development and innovations.
Country Level Analysis of Peracetic Acid Market
- On the basis of region, the Peracetic Acid Market is segmented into North America and South America, Asia Pacific, Europe and Middle East and Africa.
- Countries covered under North and South America region are Canada, Mexico, Brazil, Rest of Americas, along with Germany, France, United Kingdom, Italy, Spain, Rest of Europe covered under Europe region and Japan, China, India, Australia, Rest of Asia-Pacific covered under Asia-Pacific region.
- Asia-Pacific region is expected to grow at the highest growth rate in the forecast period 2020 to 2029 because of rising demand from end-use industries, such as water treatment, food, and healthcare is increasing the demand for peracetic acid products.
- The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands impact of sales channels are considered while provided forecast analysis of the country data.
- Approval from the government in North American and European region will boost this market growth
- Benefits over substitute biocides will also drive the market growth in the forecasted period
- High growth in Asia Pacific will also drive the market growth
- Increasing water treatment is another factor uplifting this market growth
- Lack of knowledge of product and high cost can hinder this market growth
Key Developments in the Market:
- In January 2020, Grundfos launched Hydro HP which is an innovative wash and clean solution for the food and beverage industry. The Grundfos Hydro HP is a three- or five-pump high-pressure clean and wash booster set that efficiently provides steady pressure from 5 gpm up to the system’s maximum design flow of 150, 250, 350 or 500 gpm.
- In June 2019, BioSafe Systems launched SaniDate which is a biodegradable and sustainable cleaner, sanitizer, disinfectant and deodorizer that leaves no residue behind. This EPA-approved, hospital grade disinfectant kills 99.9% of common household germs like Salmonella, Klebsiella, Pseudomonas and can be used on food-contact surfaces.
Competitive Analysis and Peracetic Acid Market Share Analysis:
Peracetic acid market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of peracetic acid market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Peracetic acid market competitive landscape provides details by competitors. Details included are company overview which includes Company focus, business segment, product categories, revenue generated and global presence. Peracetic acid market report also provides information on recent financials and R&D expenditures over the years from 2020 to 2029.
Key Market Competitors:
Few of the major competitors currently working in peracetic acid market are Solvay, Kemira, Evonik Industries AG, MITSUBISHI GAS CHEMICAL COMPANY, INC., PeroxyChem, Aditya Birla Chemicals, Ecolab, SEITZ Gmbh, Hydrite Chemical, Loeffler Chemical Corporation, Enviro Tech Chemical Services, Inc., Diversey, Inc, Airedale Chemical, ACURO ORGANICS LIMITED and many others.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved