North America Region to Remain One of the Leading Markets for Peracetic Acid through 2030, Reveals MarketsandMarkets™
Peracetic acid (also known as peroxyacetic acid, or PAA) is a highly oxidizing organic compound used as a disinfectant, sanitizer, and sterilant. It is used in a wide variety of applications, such as wastewater treatment, food, and beverage production, surface disinfection, and medical device sterilization. It is also used for bleaching and deodorizing textiles, and for treating drinking water.
According to a new report by MarketsandMarkets™, the Peracetic Acid Market is expected to reach US$ 1,685 million by 2030, at a CAGR of 7.6%. The increasing demand for biocides and disinfectants, and the surge in the usage of peracetic acid in industrial applications are the major factors driving the growth of the market. Additionally, the increasing demand for peracetic acid from the food and beverage industry is also expected to propel the growth of the market during the forecast period.
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The sterilant application is projected to grow at the highest CAGR during the forecast period.
The increasing demand for sterilant in various industries such as food and beverage, healthcare, and pharmaceuticals is driving the growth of the peracetic acid market. Additionally, the increasing focus on food safety and rising awareness about the health benefits of food products are expected to boost the demand for sterilant in the coming years. Moreover, the increasing demand for organic and natural products is leading to the increased use of sterilant, thereby driving the growth of the peracetic acid market. Furthermore, the rising number of food poisoning cases due to unhygienic food products is expected to fuel the demand for sterilant, thereby driving the growth of the peracetic acid market.
The water treatment end-use industry of the peracetic acid market is expected to grow at the highest CAGR during the forecast period.
The water treatment end-use industry is expected to benefit from the increasing demand for disinfection and the increasing awareness of water quality among the public. The rising population and the increasing demand for potable water have led to the growing demand for water treatment chemicals such as peracetic acid. Furthermore, the increasing environmental concerns have prompted governments to impose stringent regulations on water treatment, and this has driven the demand for peracetic acid. The growing number of wastewater treatment plants and the increasing focus on wastewater reuse and recycling are further expected to drive the demand for peracetic acid in the water treatment end-use industry.
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Disinfectants accounted for the largest share of the peracetic acid market during the forecast period
The disinfectant application accounted for the largest share of the peracetic acid market during the forecast period. Peracetic acid is used as a disinfectant in various industries, such as food & beverage, pharmaceutical, water & wastewater treatment, and healthcare. It is used for the disinfection of food processing plants, equipment, and surfaces. It is used as an antimicrobial agent in the dairy, poultry, and meat processing industries. Peracetic acid is also used in water & wastewater treatment to disinfect and remove odors. It is also used to disinfect medical instruments and surfaces in the healthcare industry.
The food & beverage industry to lead the peracetic acid market during the forecast period
Peracetic acid has a wide range of applications in the food & beverage industry, owing to its effectiveness in killing bacteria, viruses, and fungi. Moreover, it is widely used in the food & beverage industry for sanitizing food processing equipment, beverage containers, and utensils to eliminate microorganisms and prevent the risk of foodborne illnesses. In addition, peracetic acid is also used for bleaching, cleaning, and disinfecting of food products. The increasing demand for ready-to-eat food products and the need for maintaining food safety are expected to increase the demand for peracetic acid in the food & beverage industry during the forecast period.
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The peracetic acid market in the Asia Pacific is projected to grow at the highest CAGR during the forecast period.
The growth of the peracetic acid market in the Asia Pacific region is mainly driven by the increasing demand for peracetic acid from various end-user industries such as food & beverages, pharmaceuticals, and water treatment. The growing food & beverage industry in the region is expected to fuel the demand for peracetic acid, as it is widely used as a disinfectant and preservative in the industry. In addition, the rising demand for peracetic acid from the water treatment industry in the region is another major factor driving the market. Rapid industrialization and urbanization, as well as increasing government initiatives to improve water treatment infrastructure, are likely to propel the demand for peracetic acid in the region. Furthermore, the growing pharmaceutical industry in the region is projected to boost the market growth of peracetic acid during the forecast period.
The North American region is expected to remain one of the leading markets for peracetic acid over the next decade. This is largely due to the presence of many end-user industries that require the use of peracetic acid in their operations. The Europe region is expected to remain the most profitable market for peracetic acid during the forecast period. The region is a major consumer of peracetic acid, driven by the growing demand for peracetic acid in various applications, such as food disinfection, wastewater treatment, and medical device sterilization.
Major players operating in the peracetic acid market are Evonik Industries AG (Germany), Solvay SA (Belgium), Mitsubishi Gas Chemical Company (Japan), Ecolab Inc. (US), Enviro Tech Chemical Services (US), Kemira Ojy (Finland), Christeyns (Belgium), SEITZ GmBH (Germany), Jubilant Life Sciences (India), and Sopura (Belgium).
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AkzoNobel N.V. is a leading global producer of peracetic acid. The company has a wide range of products and services, including paints, coatings, specialty chemicals, and many more. It offers a broad portfolio of peracetic acid products, including peracetic acid, sodium percarbonate, and sodium perborate, among others. It also offers a range of applications for peracetic acid, such as disinfection, water treatment, and food & beverage applications.
Solvay S.A. is a leading global manufacturer of peracetic acid. The company has a wide range of products and services, ranging from chemicals, plastics, performance materials, and energy solutions, among others. It offers a wide range of peracetic acid products, including sodium percarbonate, peracetic acid, and sodium perborate, among others. The company also offers a range of applications for peracetic acid, such as water treatment, disinfection, and food & beverage applications.
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