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Market Overview
The Global Peracetic Acid Market is projected to register a healthy CAGR of over 8% during the review period. The prime factor driving the growth of the global peracetic acid market is the extensive use of the product in the food & beverage industry as a sanitizer, disinfectant, sterilant, and bleaching agent.
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Market Segmentation
The global peracetic acid industry has been segmented based on application, end-use industry, and region.
Peracetic acid finds application in sanitizer, disinfectant, sterilant, bleaching agent, oxidizer, biocide, polymerization catalyst, and others Among various applications, the sterilant segment is expected to be the fastest-growing segment due to the increasing adoption of peracetic acid as a sterilization agent in the food & beverage industry. The growth of the segment is attributed to the advantages offered by peracetic acid as a sterilant such as water solubility, no residue after rinsing, and no harmful health or environmental effects.
Bases on end-use industry, the global peracetic acid market has been segmented into food & beverage, water treatment, healthcare, pulp & paper, chemicals, agriculture, and others. Changing lifestyles and increasing working population have surged the demand for processed food, which is expected to drive the demand for peracetic acid. The water treatment segment is projected to register a significant CAGR on account of expanding industrial base in both developed and developing countries.
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Regional Analysis
The regions analyzed under the scope of the study are Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The maximum market share was held by the European market in 2018 on the backdrop of the high demand for peracetic acid in major end-use industries such as healthcare, food & beverage, water treatment, pulp & paper, and others. The high demand for peracetic acid is supported by the advantages of peracetic acid such as high effectiveness at a lower temperature, decomposition to non-toxic by-products, and lower consumption of energy.
Asia-Pacific is projected to be the fastest-growing regional market owing to the increasing demand for the product in the rapidly expanding end-use industries. The expanding agricultural industry in countries such as India, Vietnam, Thailand, and Malaysia is expected to fuel the demand for low concentration (1–15%) peracetic acid as sanitizers, disinfectants, and sterilants.
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Competitive Analysis
Ecolab (US), Hydrite Chemical (US), MITSUBISHI GAS CHEMICAL COMPANY, INC (Japan), Solvay (Belgium), Evonik Industries AG (Germany), Promox (Italy), ACURO ORGANICS LIMITED (India), Jubilant Life Sciences Ltd (India), Aditya Birla Chemicals (India), Belinka Perkemija, d.o.o. (Solvenia), Enviro Tech Chemical Services, Inc (US), and Kemira Oyj (Finland).
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