Peracetic Acid Market Size, Trends, Share, Growth, and Opportunity Forecast, 2023 - 2030 Global Industry Analysis By Application (Disinfection, Food And Beverage Processing, Water Treatment, Agriculture, Pulp And Paper), By End-Users (Healthcare, Food And Beverage Industry, Water Treatment, Agriculture, Other Industrial Applications) By Product Type (Liquid And Solid Peracetic Acid), By Concentration (Low And High Concentration Peracetic Acid) and By Geography (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

The global peracetic acid market was valued at USD 964.7 Million in 2022 and is anticipated to reach a value of USD 1,705.0 Million by 2030 expanding at a CAGR of 7.5% between 2023 and 2030.

The peracetic acid (Ch₃CO₃H) is a colorless organic acid produced from reaction of acetic acid (CH₃COOH) and hydrogen peroxide (H₂O₂). It is also an effective oxidizing agent that kills microorganisms, breaks down organic matters, and eliminates contaminants. Due to this, it serves as an important sterilizing and disinfecting agent.  Also, properly used PAA is harmless to the environment as its application does not leave any harmful residues during wastewater treatment, disinfecting medical gears, and food products.PAA acts as a wide spectrum antibacterial, anti-viral, anti-fungal and anti-spore agent. This is most widely associated with the use in food and healthcare industry as a means of being disinfected as well as sanitized. The production of peracetic acid, its incorporation into other products, and its sale to end users define the global peracetic acid market. Peracetic acid comes in various forms such as liquids and soluble solutions which are involved in several industries including water treatment, food, and many others for promoting hygiene, disinfection, and sanitation. ­­

Peracetic Acid Market Major Driving Forces

Need for Water Treatment: One of the main factors driving the market is the requirement of clean and disinfected drinking water. The rapid population growth and growing pollution concerns are stressing the need for clean water for domestic as well as industrial purposes. Hence, peracetic acid and play a vital role in fulfilling this need.

Growing Awareness in Sanitation & Hygiene:  Today’s generation is very well aware about the importance of         maintaining cleanliness and maintaining hygiene, particularly in sectors such as healthcare, food and beverage processing, and water treatment. The potency of peracetic acid in disinfection and sterilization makes it a formidable choice among the masses for maintaining sanitation and hygiene.

Eco-Friendly Solutions: Since peracetic acid decomposes into non-toxic byproducts, it is regarded as an eco-friendly disinfection solution. In order to meet the growing global demand for finding environmental friendly solutions, the peracetic acid is getting traction.

Applications Versatility: Peracetic acid’s application is not limited to healthcare sector. It has a wide range of applications from wastewater treatment to sanitization of food processing equipment and others.

Peracetic Acid Market Key Opportunities

Growing Need in Healthcare: Peracetic acid is used extensively in the healthcare sector to sterilize and disinfect medical instruments and medical equipment. With the development of healthcare facilities across the world, the demand for peracetic acid is bound to increase.

Food and Beverage Industry: Peracetic acid is considered as a common disinfectant and sanitizer in brewing, dairy industries, poultry and meat plants. With growing demand of efficient food disinfectants due to stringent food safety rules, peracetic acid stands at a good position for further expansion in this sector.

Water Treatment: The need for clean water for domestic as well as industrial purposes is on the constant rise due to the rapid industrialization and large population growth. Therefore, the application of peracetic acid in water treatment plant serves as a huge opportunity.

 Peracetic acid market Key Trends

·         To ensure food safety, peracetic acid is getting a lot of traction to be used in food and beverages industry.

·         In healthcare and medical sector, peracetic acid is used to maintain hygiene and sanitation of medical equipment.

·         Percetic acid finds its application on a large scale in water treatment plant to surge in the demand of clean water.

·         As peracetic acid does not emit any toxic emissions, it gets a lot of appreciation from environmental activists.

·         Manufacturers are constantly striving to make more effective and stable formulations of peracetic acid.

·         Customized peracetic acid solutions are becoming steadily becoming available to businesses, catering to the unique requirements of various industries.

Region-wise Market Insights

Asia Pacific accounted for the largest market share at 37.8% in 2022 moreover, Asia Pacific is also expected to register the fastest growth, expanding at a CAGR of 8.0% between 2023 and 2030.

In North America and Europe, the presence of robust industrial infrastructure demands for large amount of disinfected and sterilized water and hence peracetic acid finds its application. Additionally, the peracetic acid is also used in cleaning instruments and appliances in the factories. The healthcare sector is also huge in these regions, thereby further fueling the need for PAA in cleaning medical instruments and equipment.

Asia- Pacific is emerging as a growth engine for the world’s peracetic acid market owing to increasing demand in nations such as China and India. Its development is attributed to maturing food and beverage industry, growing healthcare facilities, and increased focus on hygiene and sanitation. The other important development is that peracetic acid is increasingly used for water treatment and agriculture in Asia-Pacific region.

The peracetic acid market in South America and the Middle East has experienced a persistent growth due to similar factors such as increased sanitary standards, intensified industrial developments and environmental problems. As regulations tighten-up and peracetic acid benefits getting traction, these regions will continue adding to the growth of the world market.

Market Competition Landscape

In a dynamic and expanding industry, a mix of well-known multinational corporations and specialized manufacturers compete in the global peracetic acid market for market share and innovation. In the worldwide peracetic acid market several major firms dominating the market. Some of these big companies usually offer a large number of products, extensive distribution channels, and international visibility, which are just but some of their attributes. However smaller, specialized players do exits but serve specific markets and applications locally.

Prominent players in the market include:

·         Solvay S.A.

·         Ecolab Inc.

·         Evonik Industries AG

·         PeroxyChem LLC

·         Promox S.p.A.

·         Kemira Oyj

·         Enviro Tech Chemical Services, Inc.

·         Airedale Chemical Company Limited

·         Christeyns

·         Aditya Birla Chemicals

The Aditya Birla Group is a major player in the worldwide peracetic acid market. Peracetic acid solutions are highly rated for their ability to maintain hygienic conditions in sectors such as water treatment, food processing, healthcare and agriculture. It is known for its product quality and providing environmental friendly solutions. On the other hand, the Belgium based industry Solvay provides peracetic acid solutions under the brand name Proxitane. The company is well known for manufacturing and supplying a large amount peracetic acid.