The global peracetic acid market size is projected to grow from USD 1.0 billion in 2023 to USD 1.4 billion in 2028, at a CAGR of 7.4%. Acetic acid and hydrogen peroxide are combined to form peracetic acid, which is a watery solution. This report explores crucial peracetic acid market trends, major drivers and market segmentation by [key segment categories]. The peracetic acid market is witnessing robust growth, driven by a diverse array of end-use industries. This strategic assessment unveils how sectors such as healthcare, food & beverages, pulp & paper, and water treatment collectively act as influential drivers propelling the growth of the peracetic acid market. The symbiotic relationship between peracetic acid and these industries underscores their pivotal roles in fostering market expansion.
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The 5%-15% segment is expected to account for the largest shares in 2023.
5-15% Grade, holds a prominent position within the peracetic acid market. Peracetic acid (PAA) solutions with concentrations between 5% and 15% offer a range of options for disinfection, sanitation, and other applications. The specific concentration within this range is chosen based on the requirements of the application and the level of antimicrobial activity needed. 5%-15% grade PAA is usually used for disinfection and sanitization in various industries such as healthcare, food processing, water treatment, and agriculture.
The disinfectant application segment is expected to account for the largest share in 2023.
Disinfectants hold a prominent application of peracetic acid. A disinfectant is a chemical agent that eliminates harmful microbes, thus preventing the transmission of hazardous organisms in the end products. It is applied to non-living objects to resist the growth of microorganisms thriving on the object. It generally does not kill the microorganisms. Peracetic acid is largely used as a disinfectant due to its ability to resist microbial growth. A stronger disinfectant eliminates microorganisms much faster in the disinfection process, which causes them to neutralize rapidly. Disinfectant is the largest application of peracetic acid. The growth factor of this segment is the high demand for peracetic acid-based disinfectants in the wastewater treatment, healthcare, pulp & paper industries and food & beverage. Peracetic acid is widely used in the disinfection of medical supplies in the healthcare industry. In the pulp & paper industry, peracetic acid is used to prevent biofilm formation and is also used in the water treatment industry to treat wastewater and sewage water. Peracetic acid is projected to have a high demand in the water treatment industry and is mostly used to disinfect and purify water treatment systems.
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Europe is expected to account for the largest share in 2023.
Europe region stands out as the largest market for peracetic acid, and several key factors underpin this prominence within the chemical industry. Firstly, the rapid industrialization and urbanization witnessed across several European countries; notably Germany and the UK, have fueled extensive infrastructure development. The main functions of peracetic acid in food processing and handling are as a disinfectant and a sanitizer for surfaces that come into touch with food.
The key players in the peracetic acid market include Solvay (Belgium), Evonik Industries AG (Germany), Ecolab Inc. (US), Mitsubishi Gas Chemical Company (Japan), Enviro Tech Chemical Services (US), Jubilant Life Sciences (India), National Peroxide Ltd. (India), Kemira Oyj (Finland), Seeler Industries Inc. (US), and Airedale Chemicals (UK).
SOLVAY: Solvay is an advanced materials and specialty chemical company. The company manages its operations through three business segments: Materials, Chemicals, and Solutions. The Group’s innovative solutions contribute to safer, cleaner, and more sustainable products for homes, food and consumer goods, planes, cars, batteries, smart devices, health care applications, water, and air purification systems. Solvay is a leading manufacturer of peracetic acid and has extensive product offerings for food processing, food packaging, and water treatment applications. The company offers high-quality peracetic acid solutions under PROXITANE, OXYKIL, AQUALISAN, and OXYSTRONG. The company has 99 industrial sites in 61 countries and 12 research and innovation centers with operations in Europe, North America, Latin America, and Asia the rest of the world. The company’s commitment lies in cultivating enduring partnerships with its customers, and its operations span across the globe. Solvay boasts a portfolio of industry-leading brands, each offering solutions that hold a pivotal place in enhancing the daily experiences of people worldwide.
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EVONIK INDUSTRIES AG: Evonik Industries AG is a global leader in manufacturing specialty chemicals. It has brought innovative, profitable, yet sustainable solutions to the specialty chemicals industry. The company serves the health, consumer, and real estate markets globally. It operates under four business segments: Specialty Additives, Nutrition and care, Smart Materials, Performance Materials, Technology and infrastructure. It manufactures peracetic acid-based products used in the food & beverage industry, for aseptic packaging (PET), in laundries, in animal healthcare, as an anti-slime agent, for wastewater treatment, and as a sterilant in medical applications.
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