According to the new market research report “Peracetic Acid Market by Application (Disinfectant, Sterilant, Sanitizer), End-use Industry (Healthcare, Food & Beverage, Water Treatment, Pulp & Paper), and Region (North America, Europe, APAC)-Global Forecasts to 2027″, The peracetic acid market is estimated at USD 664.9 million in 2018 and is projected to reach USD 1,359.2 million by 2027, at a CAGR of 8.3%, between 2018 and 2027.
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The water treatment end-use industry of the peracetic acid market is projected to grow at the highest CAGR from 2018 to 2023. Technological developments and innovations are focusing on improving the quality of drinking water, and reducing wastewater discharge in the water treatment industry. The use of conventional water and wastewater treatment process is increasing due to diminishing water resources, rapid industrial developments, and population growth. The global water treatment market will continuously grow at a high rate and is projected to drive the overall market of water treatment chemical products. The demand for superior peracetic acid product is expected to surpass the industry growth due to its larger acceptance and rising demand.
The peracetic acid market in Asia Pacific is projected to grow at the highest CAGR during the forecast period, in terms of both value and volume. The rising demand from end-use industries, such as water treatment, food, and healthcare is increasing the demand for peracetic acid products. The market in Asia Pacific is driven by increased foreign investments due to cheap labor and accessible raw materials. In addition, government proposals to improve the healthcare and water treatment activities along with the increase in the manufacture of end-use products is driving the peracetic acid market.
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208 – Tables
47 – Figures
118 – Pages
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The peracetic acid market size is estimated to be USD 664.9 million in 2018 and is projected to reach USD 989.2 million by 2023, at a CAGR of 8.27%, between 2018 and 2023. Peracetic acid is widely used as disinfectant, sanitizer, bleach, sterilant, industrial reagent, oxidizer, and polymerization catalyst. It is a strong oxidizing agent and has stronger oxidation potential than chlorine or chlorine dioxide. Peracetic acid plays a vital role in the prevention of microbial growth. Global concerns, such as toxic & explosive materials, unwanted harmful process derivatives, end-use performances, and functionality of finished products can be resolved by using the peracetic acid solution, among other competitive products. Its properties include optimum performance, safe derivatives, longer shelf life, and slower thermal degradation. The by–products of the use of peracetic acid are water, H2O2, and acetic acid, which are environment friendly. Thus, it offers comparatively better performance along with less environmental concerns during operational exposure to workers.
Companies operating in the peracetic acid market are focused on different organic and inorganic growth strategies to expand their presence and increase their market shares, globally. New product development, partnership & agreement, and investment & expansion were the key growth strategies adopted by leading players in the peracetic acid market between January 2016 and July 2018. Leading manufacturers of peracetic acid include Solvay (Belgium), Evonik (Germany), PeroxyChem (US), Ecolab (US), Enviro Tech Chemical Services (US), Airedale Chemical (UK), Kemira (Finland), and Mitsubishi Gas Chemical Company (Japan).
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Solvay, Evonik, Ecolab, and PeroxyChem have adopted key strategies in the peracetic acid market. These companies accounted for a major share of all developmental strategies that took place between January 2016 and July 2018.
Solvay is a market leader in the peracetic acid business. The company has a strong global position and is expected to retain its market share in the near future. It company is focusing on strategic development by 2020 with the aim of increasing its sales and meeting its targets. For instance, in February 2017, Solvay and Aquatic Concept Group (ACG) have signed an agreement to work together in pursuit of sustainable growth in their global aquaculture operations. The partnership will help in expanding the distribution channel of peroxide products and also strengthen their relationship, globally. Similarly, in February 2016, Peróxidos do Brasil, a joint venture between the Solvay Group and Produtos Químicos Makay (PQM), announced plans to build a hydrogen peroxide plant in the Coronel Industrial Park, in Chile. This will cater to the peracetic acid and pulp and mining emerging markets and prepare for future demand in aquaculture applications in the region.
Evonik is another key player that has established a strong foothold in this market. The company also has a wide product portfolio of peracetic acid. The company has been expanding its product portfolio to cater to the growing demand for peracetic acid. It has also invested significantly in product innovation in the past few years. For instance, in July 2017, Evonik introduced a new disinfectant product line HYPROX AS. This launch is expected to support their customers in the manufacturing of cleaning products with biocide-registration as per the Biocidal Products Regulation (EU) 528/2012, which regulates the marketing and use of biocidal products in the EU.
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