Peracetic Acid Market Size to Reach USD 603 Million by 2027 at a CAGR of 5.24% | Valuates Reports

Peracetic Acid Market Size to Reach USD 603 Million by 2027 at a CAGR of 5.24% | Valuates Reports

PR Newswire

BANGALORE, India, Dec. 22, 2021

BANGALORE, India, Dec. 22, 2021 /PRNewswire/ -- The Peracetic Acid Market is Segmented by Type (5%-15% PAA, Less than 5%PAA, Above 15% PAA), by Application (Food and Beverages, Water Treatment, Healthcare, Pulp and Paper): Global Opportunity Analysis and Industry Forecast, 2021–2030.  It is published in Valuates Reports under the Chemicals Industry Category.

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The global Peracetic Acid Market size is projected to reach USD 603 Million by 2027, from USD 469.31 Million in 2020, at a CAGR of 5.24% during 2021-2027.

Major factors driving the growth of the Peracetic Acid market are:

The peracetic acid market is predicted to develop due to an increase in end-user applications. Peroxyacetic acid, or PAA, is an organic chemical molecule utilized in a variety of applications, including as a chemical disinfectant in healthcare, a food sanitizer, and a water disinfectant.

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TRENDS INFLUENCING THE GROWTH OF THE PERACETIC ACID MARKET:

Increasing use of peracetic acid in the food and beverage industry is expected to drive the growth of the peracetic acid market. Food safety is a major concern in the food industry today, and microbial contamination is the number one enemy of the food supply. Chemical treatments, such as peracetic acid, are one of the most effective strategies for microbial contamination management. Any biocidal chemical that will be applied directly to food must be efficient against germs and leave no toxic residues. Peracetic acid is a highly reactive substance that breaks down fast into acetic acid (the acid in vinegar), oxygen, and water. Peracetic acid residues in food products are free from tolerances under EPA regulations due to the thoroughness of the process.

Peracetic acid (PAA) has gained popularity as a key wastewater treatment technique and chlorine substitute in several countries. PAA has low residual toxicity, doesn't generate hazardous DBPs, and has a low environmental impact. Thus the growing use in wastewater treatment is expected to increase the growth of the peracetic acid market.

As the number of hospital-acquired infections rises, so does the necessity to sterilize hospitals on a regular basis. PAA has excellent disinfectant qualities, making it ideal for use in healthcare facilities. Standard surface decontamination methods, such as sprays and wipes, are time-consuming and frequently fail to thoroughly remove contaminants from sensitive electronic equipment. Because of its ease of use, low cost, and general effectiveness, PAA dry fogging should be investigated for decontaminating healthcare settings, particularly intensive care units that care for severely ill SARS-CoV-2 patients. This in turn is expected to drive the growth of the peracetic acid market.

Because of their hazardous residue, traditional pulp bleaching products cause a slew of environmental issues. As a result, peracetic acid is seen as a viable alternative because it is an environmentally benign bleaching agent. This increasing use of Peracetic acid in the paper & pulp industry is expected to drive its growth. 

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PERACETIC ACID MARKET SHARE ANALYSIS:

Based on the application, Food and Beverages has held the largest market share of about 34% in 2020. This is because, to reduce microbiological contamination, many bottling factories utilize peracetic acid as a sanitizer and disinfection. Peracetic acid is also commonly utilized in the brewing sector as a sanitizer.

Based on region, Europe is the largest consumer of PAA with more than 45%. In the U.S. market, the major producers are Peroxychem, Solvay, Evonik, Kemira, Enviro Tech Chemical, and Biosafe Systems. Peroxychem is leading the industry with a 24% market share.

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