Global Peracetic Acid Market is estimated to be valued at US$ 872.6 Million in 2021, According to the Global Peracetic Acid Report, by End User (Food and Beverages, Pulp and Paper Bleaching, Water Treatment, Medical, Agriculture and Others), by Region (North America, Europe, Asia-pacific, Latin America, Middle East & Africa), published by Coherent Market Insights.
Global peracetic acid market was valued at US$ 872.6 Million in 2021. Peracetic acid market is expected to register a CAGR of 7.8 % over the forecast period (2022–2030), to reach US$ 1707.6 Million by 2030.
Peracetic acid is an organic liquid chemical compound that is highly acidic in nature. It is produced due to the reaction between hydrogen peroxide and acetic acid. Moreover, it is a water-soluble compound and is mainly used for its biocidal properties. It helps in disinfectant the processing equipment used across various industries. Paper and pulp bleaching, food and beverages, medical, water treatment, and agriculture are some of the key end-users of the peracetic acid.
Coronavirus (Covid-19) has majorly impacted the peracetic acid industry and in turn has changed the dynamics of their raw material suppliers supplying the products in peracetic acid market. However, rising demand for peracetic acid in the medical & healthcare sector, due to its usage in the sterilization of medical devices, has been a critical factor driving the growth of the Peracetic Acid Market over the forecasted period.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/peracetic-acid-market-4267
Browse 50 market data tables* and 40 figures* on "Global Peracetic Acid Market” - Forecast to 2030.
Key Trends and Analysis of the Global Peracetic Acid Market:
- Increasing production capacity of the hydrogen peroxide by key players for enhancing the supply of peracetic acid is one of the key trends in the market. The expansion of the retail industry around the globe is creating demand for disinfectant products. Moreover, increasing focus of the manufacturer on promoting their products to reach the target consumer is again expected to propel the market growth. An increase in the residential sector coupled with the growing health awareness is again creating demand for biocides products. This is expected to serve major growth opportunities in the near future.
- Strategic merger and acquisition by key manufacturers for business expansion on regional as well as the global level is one of the major trends in the industry and this ongoing trend is projected to spur the market growth.
Key Takeaways of the Global Peracetic Acid Market:
- On the basis of end user, food and beverages segment dominated the global peracetic acid market in 2021, with around 67% of market share in terms of revenue, followed by agriculture, among others.
- According to Coherent Market Insights, North America region dominated the global peracetic acid market in 2021, accounting for 35.4% share in terms of value and is expected to grow over the forecasted period due to increasing use of sanitizers and disinfectants all over the world.
- New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities for the peracetic acid are key strategies adopted by players in the global peracetic acid market. For instance, In July 2019, Solvay announced capacity expansion at its hydrogen peroxide plant in Jemeppe-sur-Sambre (Belgium) allowing an increase of H2O2 production. The Solvay plants produce a range of hydrogen peroxide grades serving customers in diverse markets such as pulp and paper, aquaculture, food, chemicals, and electronics.
