We have an updated report [Version - 2024] available. Kindly sign up to get the sample of the report.
all report title image

Peracetic acid is a liquid chemical product that is highly acidic in nature. It is produced by hydrogen peroxide and acetic acid. It is considered as one of the most effective agents after ozone. It is widely used across disinfectant applications across various industries especially food industry for cleaning the equipment.

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).

Drivers

The growing demand for peracetic acid from the water treatment industry is propelling the market growth. Increasing demand for clean water due to growing population and rising concern over water scarcity is propelling the market growth. Rapid industrialization around the globe is again driving demand for clean and treated water. Rise in the paper, textile, and other manufacturing industries across both developed and emerging regions is further projected to foster the market growth of peracetic acid.

Rising awareness regarding the eco-friendly trait of peracetic acid is surging its demand around the globe. Growing demand for the product from the medical industry for disinfecting surgical and other medical devices is again surging market growth. Growing concern over curbing the infections coupled with the increasing investment in the healthcare sector by the government is again propelling the market growth. Moreover, growing health and hygiene awareness is further driving the market growth.

There have been unprecedented variations in the global sales of peracetic acid owing to the changes in purchase patterns among consumers. Rising trends of bulk buying and stockpiling of products such as peracetic acid products has led to certain products being in very limited supply, which in turn has led to price fluctuations in global peracetic acid market. This scenario is expected to hinder the growth rate the market till the early months of 2021.

Figure 1. Global Peracetic Acid Market Value Share (%), By Region, 2021

PERACETIC ACID MARKET

To learn more about this report, request a free sample copy

Market Restraints

High production cost coupled with the lack of awareness regarding the product among end-user is hampering the demand for the product. This factor is expected to hinder the market growth over the forecast product.

The product is highly reactive and this factor is acting as a major challenge for the industry over its reactivity concern.  This is expected to inhibit the market growth of peracetic acid.

Peracetic Acid Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 872.6 Mn
Historical Data for: 2017-2020 Estimated Year: 2022
Forecast Period 2022 to 2030 CAGR: 7.8 % Forecast Period: 2022-2030
Geographies covered:
  • Region: North America, Latin America, Europe, Asia Pacific, Middle East & Africa
Segments covered:
  • By End User: Food and Beverages, Pulp and Paper Bleaching, Water Treatment, Medical, Agriculture, Others
Companies covered:

Kemira Oyj, Solvay S.A., Promox S.p.A., Evonik Industries, Ecolab Inc., Thai Peroxide Limited, Mitsubishi Gas Chemical Company, Inc., PeroxyChem LLC and Diversey Inc.

Growth Drivers:
  • Growing demand for peracetic acid from the water treatment industry
  • Rising awareness regarding the eco-friendly trait of peracetic acid
  • High production cost coupled with the lack of awareness regarding the product among end user
Restraints & Challenges:
  • The product is highly reactive and this factor is acting as a major challenge for the industry

Market Trends

Changing lifestyle of consumers coupled with the increasing purchasing power of consumers across emerging as well as developed regions is expected to propel the market growth. The increasing number of working women coupled with the growth in the urban populations is creating demand for processed food. Peracetic acid is widely used as a preservative in the meat and poultry and fisheries products. Thus, women working in processed food industries is stimulating market growth.

Increasing application of peracetic acid in the personal care industry is another major trend in the market. Also, peracetic acid is an effective and eco-friendly biocide in the agriculture industry. Moreover, it is used to clean the drip line and disinfectant the other agricultural tool, and containers are further expected to foster market growth. Thus, increasing harvesting crops with a peracetic acid biocide is stimulating market growth.

Figure 2. Global Peracetic Acid Market Value Share (%), By End User, 2021

PERACETIC ACID MARKET

To learn more about this report, request a free sample copy

On the basis of end user, food & beverages dominated the global peracetic acid market in 2021, with around 29.67% of market share in terms of revenue, followed by agriculture and pulp and paper bleaching, respectively

Recent Developments

  • 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 September 2019, Enviro Tech invested a leading manufacturer of Air Pollution Monitoring Instruments invested US$ 8 Million to build a new manufacturing facility in Level and, Texas Industrial Rail Park. This new manufacturing plant uses advanced technologies for treatment and reuse of water, reuse of 90% solid waste to recyclers, energy-saving plant designs and equipment.
  • In February 2020, Evonik acquired Peroxy Chem (US) for US$ 640 million. Peroxy Chem produces hydrogen peroxide (H2O2) and peracetic acid (PAA), making it suitable for high-margin special applications. This acquisition opens up further growth opportunities for Evonik, especially in the environmentally friendly disinfectant market.

Competitive Section

Major players operating in the global peracetic acid market include Kemira Oyj, Solvay S.A., Promox S.p.A., Evonik Industries, Ecolab Inc., Thai Peroxide Limited, Mitsubishi Gas Chemical Company, Inc., PeroxyChem LLC, and Diversey Inc.

Frequently Asked Questions

Global peracetic acid market was valued at around US$ 872.6 Million in 2021.

Growing demand for peracetic acid from the water treatment industry is fuelling the growth of the market in the region.

Increasing application of peracetic acid in the personal care industry is expected to favor market.

High production cost coupled with the lack of awareness regarding the product among end user is expected to hamper the growth.

Major players operating in the market include Kemira Oyj, Solvay S.A., Promox S.p.A., Evonik Industries, Ecolab Inc., Thai Peroxide Limited, Mitsubishi Gas Chemical Company, Inc., PeroxyChem LLC, and Diversey Inc.

The market is estimated to grow at around 7.8 % CAGR in the forecast period (2022-2030).

View Our Licence Options

Need a Custom Report?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports

Customize Now

Want to Buy a Report but have a Limited Budget?

We help clients to procure the report or sections of the report at their budgeted price. Kindly click on the below to avail

Request Discount
Logo

Reliability and Reputation

ESOMAR
DUNS Registered
Clutch
DMCA Protected

9001:2015

Reliability and Reputation

27001:2022

Reliability and Reputation

EXISTING CLIENTELE

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients
trusted clients logo