The increased demand for peracetic acid in the water treatment sector is driving market expansion. Growing population need for clean water, as well as growing concern over water shortage, are driving market expansion. Global development is pushing up demand for clean and treated water once more. The expansion of the paper, textile, and other manufacturing industries in both established and emerging nations is expected to fuel market development. The product's demand is being hampered by high production costs combined with a lack of knowledge among end users. This aspect is predicted to stifle market expansion for the forecast product. The product is extremely reactive, which poses a significant problem to the industry in terms of reactivity. This is projected to slow the growth of the peracetic acid market. Increasing awareness of peracetic acid's eco-friendliness is driving up demand for it across the world. Increasing demand from the medical industry for the product for disinfecting surgical and other medical instruments is driving market expansion. Increasing worry over infection control, along with the government's increased investment in the healthcare sector, is boosting the market once again. Moreover, rising health and hygiene consciousness is propelling the industry forward.
According to Coherent Market Insights, Global Peracetic Acid Market was valued at US$ 872.6 Million in 2021 in terms of revenue, exhibiting a CAGR of 7.8 % during the forecast period (2022 to 2030).
Prominent Companies in the Peracetic Acid Industry:
1. Kemira Oyj
Kemira Oyj operates as a chemicals company in Finland, rest of Europe, the Middle East, Africa, the Americas, and the Asia Pacific. It operates in two segments, Pulp & Paper and Industry & Water. The Pulp & Paper segment develops and commercializes pulp and paper, as well as a range of products for paper wet-end, including packaging and board, and tissue products. The Industry & Water segment offers coagulants, polymers, and other water treatment chemicals. The company was founded in 1920 and is headquartered in Helsinki, Finland.
2. Solvay S.A.
Solvay SA provides advanced materials and specialty chemicals worldwide. It operates through four segments: Materials, Chemicals, Solutions, and Corporate & Business Services. The company was founded in 1863 and is headquartered in Brussels, Belgium. In April 2020, Solvay, a multinational chemical company launched Proxitane AHC against Covid-19. It is a concentrated liquid disinfectant composed of peracetic acid and hydrogen peroxide. In July 2019, Solvay announced capacity expansion at its hydrogen peroxide plant in Jemeppe-sur-Sambre (Belgium) allowing an increase of H2O2 production.