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The Peracetic Acid Market displays a range of dynamics influenced by factors that shape its growth and evolution. Here's a concise, pointer-format breakdown of the key market dynamics:
Growing Demand in Disinfection Applications:
The primary driver for the peracetic acid market is the increasing demand for disinfection solutions. Peracetic acid is a potent antimicrobial agent, finding extensive use in water treatment, healthcare settings, and food processing industries. The rising emphasis on hygiene and sanitation propels the demand for effective disinfectants like peracetic acid.
Expanding Food and Beverage Industry:
The food and beverage industry is a major consumer of peracetic acid, particularly in disinfection and preservation processes. As the global population grows, the demand for processed and packaged food increases, leading to a higher requirement for food safety solutions. Peracetic acid's effectiveness against a broad spectrum of microorganisms makes it a preferred choice in this industry.
Stringent Regulations Driving Adoption:
Stringent regulatory standards regarding water quality and food safety contribute significantly to the peracetic acid market. Authorities globally are imposing strict regulations on disinfection practices, pushing industries to adopt effective and environmentally friendly disinfectants like peracetic acid to meet compliance requirements.
Advancements in Manufacturing Technologies:
Ongoing advancements in peracetic acid production technologies contribute to market dynamics. Manufacturers are exploring more efficient and sustainable methods of production to meet the growing demand. Improved manufacturing processes also influence product quality and cost-effectiveness.
Focus on Environmentally Friendly Solutions:
Environmental concerns play a pivotal role in shaping the peracetic acid market. As industries seek eco-friendly alternatives, peracetic acid stands out for its biodegradability and minimal environmental impact compared to traditional disinfectants. This aligns with the global trend towards sustainable practices.
Increasing Application in Healthcare Sector:
The healthcare sector is a key consumer of peracetic acid, especially in medical equipment sterilization and hospital disinfection. The ongoing emphasis on infection control, particularly in the wake of global health crises, contributes to the rising demand for peracetic acid in healthcare applications.
Market Challenges Related to Handling and Storage:
Challenges related to the safe handling and storage of peracetic acid can impact market dynamics. Due to its corrosive nature, proper storage and transportation are essential, posing logistical challenges for some end-users. Manufacturers and distributors need to provide adequate information and guidelines to ensure safe usage.
Market Consolidation and Strategic Alliances:
The peracetic acid market witnesses consolidation as companies engage in mergers, acquisitions, and strategic alliances to strengthen their market presence. Collaborations enable companies to broaden their product portfolios, enhance distribution networks, and capitalize on synergies in research and development.
Price Volatility and Cost Considerations:
The peracetic acid market may experience price volatility due to factors such as raw material costs and production efficiency. Cost considerations are crucial for end-users, and manufacturers must strike a balance between product quality and affordability to remain competitive in the market.
Global Economic Factors and Trade Dynamics:
The peracetic acid market is influenced by global economic factors and trade dynamics. Changes in international trade policies, currency fluctuations, and geopolitical events can impact the availability and pricing of peracetic acid. Companies need to monitor these external factors to navigate potential challenges.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Application, End-use, and Region |
Peracetic Acid Market Highlights:
Global Peracetic Acid Market Overview
The Peracetic Acid Market Size was valued at USD 0.15 Billion in 2023. The Peracetic Acid industry is projected to grow from USD 0.16 Billion in 2024 to USD 0.29 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.80% during the forecast period (2024 - 2032). Increasing the use of PAA in manufacturing sanitizers, bleaching agents, and disinfecting products from food & beverages, water treatment, and healthcare applications is expected to drive the market growth. Additionally, the emergence of new applications along with product concentration is likely to boost market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Peracetic Acid Market Trends
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The high demand for the processed food industry is boosting market growth.
There are so many factors driving the peracetic acid market. One of the major drivers of the peracetic acid market is the high demand for the processed food industry. The U.S. Food and Drug Administration (FDA) has recognized this product as safe for food. Peracetic acid is highly used in food and beverage Industries to keep the freshness of the food for a long time and improve the taste as well. It is also used as an antimicrobial agent and bleaching agent for washing fruits and vegetables. The rapid growth processed food industry and increasing awareness of hygiene are driving the peracetic acid market. Sanitizers and disinfectants play a huge role in preventing the growth of bacteria; as a result, the use of peracetic acid is increasing. Peracetic acid also increases the shelf life, safety of the product's band slows the thermal degradation. The use of peracetic acid for various applications is driving the peracetic acid market's peracetic acid market growth.
Additionally, The major application of peracetic acid is in food, and pharmaceuticals for water treatment. And these sectors are growing at a rapid rate. The food sector is increasing due to the increasing Economic and changing lifestyle of people. Food processing and packaging are used for the products such as milk, juices, tea, and drinks. Apart from that, peracetic acid is used in pharmaceuticals, hospitals, and other sectors for many treatment procedures. The growth of all the sectors will generate more opportunities for the peracetic acid market.
Peracetic Acid Market Segment Insights
Peracetic Acid Application Insights
The Peracetic Acid Market segmentation, based on Application, includes Sterilizer, Disinfectant, Sanitizer, and Others. It is highly used in the food sectors and pharmaceuticals sector for maintaining better hygiene. Disinfectant is expected to be responsible for the highest share of the peracetic acid market in the forecast period. Disinfectant is the largest segment in the market as well.
Peracetic Acid End-User Insights
The Peracetic Acid Market segmentation, based on End-User, includes Healthcare, Food & Beverages, Water Treatment, Pulp & Paper, and Others. Vast growth in the food sector, especially in developing countries, will boost the market growth in the coming years. Food and beverage accounted for the highest share in this segment with $35 million and a CAGR of 8.5%. The peracetic acid market will also see positive growth in the pulp and paper bleaching Industry as well. Increasing bleaching activities will push the market growth further.
Figure 2: Peracetic Acid Market, by Application, 2023 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Peracetic Acid Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Europe is expected to lead the peracetic acid market in terms of value attributed to the strong presence of end-user industries. Asia Pacific is expected to be the fastest-growing region in terms of volume due to the easy availability of raw materials and advanced technological advancements.
Figure 3: PERACETIC ACID MARKET SHARE BY REGION 2023 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
North America is expected to show considerable growth due to increasing demand for sanitizers and disinfectants. Latin America & Middle East & Africa shall exhibit sluggish growth by the end of the forecast period.
Peracetic Acid Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Peracetic Acid market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Peracetic Acid industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Peracetic Acid. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Peracetic Acid industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Peracetic Acid industry to benefit customers and expand the market sector. The Peracetic Acid market has recently given medicine some of the most important advantages. Major Peracetic Acid market players, including Jubilant Life Sciences Ltd (India), Aditya Birla Chemicals (India), ACURO ORGANICS LIMITED (India), Hydrite Chemical (U.S.), Solvay (Belgium), and others, are attempting to increase market demand by funding R&D initiatives.
Jubilant Biosys is a biotechnology company. It has expertise in the fields of toxicology, drug discovery, medicinal and synthetic chemistry, in vitro biology, preclinical and digital, pharma IT services, and others.
Also, Solvay is an advanced materials and specialty chemicals company. It operates through three segments: Materials, Chemicals, and Solutions. The Materials segment provides specialty polymers and composite materials. The Chemicals segment offers amines, antioxidants and stabilizers, composites, mining chemicals, polymers, surfactants, etc.
Key Companies in the Peracetic Acid market include
- Jubilant Life Sciences Ltd (India),
- Aditya Birla Chemicals (India),
- ACURO ORGANICS LIMITED (India),
- Hydrite Chemical (U.S.),
- Solvay (Belgium),
- Evonik Industries AG (Germany),
- Ecolab (U.S.),
- Enviro Tech Chemical Services, Inc (U.S.),
- MITSUBISHI GAS CHEMICAL COMPANY, INC (Japan),
- Belinka Perkemija,
- o. (Slovenia),
- Promax (Italy),
- Kemira Oyj (Finland)
Peracetic Acid Industry Developments
In September 2019, Enviro Tech invested a leading manufacturer of Air Pollution Monitoring Instruments invested US$ 8 Million to build a new manufacturing facility in Level and, Texas Industrial Rail Park. This new manufacturing plant uses advanced technologies for treatment and reuse of water, reuse of 90% solid waste to recyclers, energy-saving plant designs and equipment.
In February 2020, Evonik acquired Peroxy Chem (US) for US$ 640 million. Peroxy Chem produces hydrogen peroxide (H2O2) and peracetic acid (PAA), making it suitable for high-margin special applications. This acquisition opens up further growth opportunities for Evonik, especially in the environmentally friendly disinfectant market.
April 2020, Solvay received the approval to use Proxitane AHC against COVID-19. It is a concentrated liquid disinfectant composed of peracetic and hydrogen peroxide.
August 2023: Spartan Chemical Company announced is new peracetic acid-based sanitizer for use in swimming pools and spas. The sanitizer is designed to kill bacteria, algae, and other microorganisms that can make swimming pools and spas unsafe.
Peracetic Acid Market Segmentation
Peracetic Acid Application Outlook
- Sterilizer
- Disinfectant
- Sanitizer
- Other
Peracetic Acid Grade
- <5% Grade
- 5-15% Grade
- >15% Grade
Peracetic Acid End-user Outlook
- Healthcare
- Food & Beverages
- Water Treatment
- Pulp & Paper
- Others
Peracetic Acid Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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