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Oct 7, 2020 6:24 AM ET

Global Peracetic Acid Market Is Expected To Reach Around USD 1066 Million By 2024

iCrowd Newswire - Oct 7, 2020

Zion Market Research has published a new report titled “Peracetic Acid Market by Type (Disinfectant, Sterilant, Sanitizer, and Others), and by Application (Healthcare, Water Treatment, Food Industry, Pulp & Paper, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024”. According to the report, the global peracetic acid market was valued at USD 614 million in 2017 and is expected to reach USD 1,066 million by 2024, at a CAGR of 8.2% between 2018 and 2024.

Peracetic acid is an organic compound used in several applications, such as food industry, healthcare, water treatment, pulp, and paper, etc. It is highly soluble in water and does not produce any environmentally or health-hazardous by-products. Moreover, owing to its strong oxidizing properties, it is widely used in the paper and pulp industry. Peracetic acid is a versatile and environmentally safe anti-microbial agent and powerful antioxidant.

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Global Peracetic Acid Market

The peracetic acid market is likely to grow at a fast rate in the years ahead, owing to the increasing demand for an anti-microbial agent in the food processing and beverage industry. Due to the strong oxidizing properties of peracetic acid, it is extensively used in the pulp and paper industry. This, in turn, is projected to drive the peracetic acid market globally in the future. In addition, it is also used as a biocide in the agricultural and horticultural industries. Moreover, increasing demand for an anti-microbial agent in the food industry is expected to spur the peracetic acid market growth in the upcoming years. Furthermore, the growing popularity of bio-based chemicals and technological advancements related to manufacturing processes are anticipated to offer new growth opportunities for the players operating in the peracetic acid market in the forthcoming years.

The peracetic acid market is bifurcated into type and application. By type, the market includes disinfectant, sterilant, sanitizer, and others. In 2017, disinfectants held the largest share of the global peracetic acid market. The increasing use of peracetic acid-based disinfectants in several industries is projected to drive the disinfectants’ dominance over the forecast time period as well. By application, this market is segmented into healthcare, water treatment, food industry, pulp and paper, and others. Water treatment is likely to dominate the market in the future, due to stringent government regulations for safeguarding marine life.

Geographically, the peracetic acid market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific region is projected to grow at the fastest rate in the upcoming period, owing to high product demand by various end-user sectors, such as food, water treatment, and healthcare. The European peracetic acid market is primarily driven by the region’s thriving healthcare sector. Latin America is expected to grow significantly in the years ahead, owing to the rising awareness about the hygienic environment.

Some key manufacturers of the peracetic acid market are Solvay Chemicals, Loeffler Chemical Corporation, Mitsubishi Motors Corporation, Hydrite Chemical Company, Evonik Industries AG, PeroxyChem LLC, Airedale Chemical Company Ltd., Kemira Chemicals, Ecolab Inc., SEITZ, Enviro Tech Chemical Services, Inc., and Aditya Birla Chemicals, among others.

The report segments the global peracetic acid market into:

Global Peracetic Acid Market: Type Analysis

Global Peracetic Acid Market: Application Analysis

Global Peracetic Acid Market: Regional Analysis

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Keywords:    Peracetic Acid Market

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