According to the latest report by IMARC Group, titled “Peracetic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global peracetic acid market exhibited moderate growth during 2015-2020. Peracetic acid (C2H4O3) is an organic compound that is generated industrially by reacting acetic acid (CH3COOH) and hydrogen peroxide (H2O2) in a watery solution. It is a colorless and highly acidic liquid characterized by a pungent odor. Peracetic acid acts as an effective biocidal oxidizer and antimicrobial agent as it consists of a non-chlorinated by-product with non-corroding and non-foaming reactions. As a result, it is widely used to disinfect medical supplies and prevent biofilm formation and pathogenic growth by food establishments, breweries, pulp and paper manufacturers, and medical facilities.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Peracetic Acid Market Trends:
The global peracetic acid market is mainly being driven by the increasing product application across various allied industries. For instance, in the agricultural sector, peracetic acid aids in preventing and controlling fungal and bacterial growth in crops. In line with this, the increasing demand for safe, potable water has further intensified the employment of peracetic acid in water treatment plants as it eliminates high levels of chlorine and other concentrated residues. Additionally, rapid urbanization, particularly in emerging economies, and hectic working schedules are creating a demand for processed and frozen food products, wherein peracetic acid is used to preserve the quality, freshness, and taste of meat, poultry, and fishery products. Furthermore, harmful disinfectants, like chlorine, are rapidly being replaced by peracetic acid due to the rising inclination toward bio-based chemicals, which is propelling the market growth. Apart from this, the rising need to sanitize public places amidst the coronavirus disease (COVID-19) pandemic is further creating a positive outlook for the market. Looking forward, the market is expected to grow at a CAGR of around 7.7% during 2021-2026.
- Based on the grade, the market has been bifurcated into solution and distilled grade.
- On the basis of the application, the market has been divided into disinfectants, sterilants, sanitizers, and others.
- Based on the end use industry, the market has been classified into healthcare, food and beverage (F&B), water treatment, pulp and paper, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being Aditya Birla Chemicals, Airedale Chemical Company, Diversey Inc., Ecolab Inc., Enviro Tech Chemical Services, Evonik Industries, FMC Corporation, Jubilant Life Sciences, Kemira Chemicals, Lenntech, Mitsubishi Gas Chemical Co., National Peroxide Ltd., PeroxyChem, Seitz GmbH, Solvay S.A., etc.
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