According to the current analysis of Reports and Data, the global Peracetic Acid market was valued at USD 815.1 Million in 2020 and is expected to reach USD 1.48 Billion by year 2028, at a CAGR of 7.80%. The study covers the genre of chemicals and materials with special focus on the Peracetic Acid market. Peracetic acid (CH3CO3H), also known as Peroxyacetic acid (PAA), is an organic compound used for antimicrobial purposes. It is a colourless liquid with the specific acrid odour indicative of acetic acid. The compound is a combination of two versatile compounds namely, Hydrogen Peroxide and Acetic acid. It is manufactured industrially by autoxidation of acetaldehyde. This compound is formed upon the treatment of acetic acid with hydrogen peroxide and a strong acid catalyst. The rapid growth in the population, changing lifestyles and eating habits of consumers are said to be the triggering factors for the industries, especially for the developed and developing countries. The versatility of application has been the main factor propelling the market. The rising concerns for safety and improving health of the people has been one of the driving factors in the market. However, high costs and insufficient awareness among the people have been the main restraining factors.
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Further key findings from the report suggest
North America and Europe dominate the market due to the technologically advancements and the continuous research and development in this field. In addition to these factors another factor contributing to the growth of these regions is the widespread awareness about food safety and improving health.North America is expected to grow at a CAGR of 8.3% while Europe is expected to register a CAGR of 8.2%.Asia Pacific is expected to grow at a CAGR of 9.4%. Emerging economies such as China have become a major hub for manufacturers due to the abundance of resources and availability of labor.Corporate working hours and increasing female working population is propelling the packaged food demand globally thus, making use of Peracetic acid for packaging of utmost importance. The demand has furthermore increased due to an increase in the demand for frozen foods.Food and beverage industry holds the largest share of the market and is expected to continue to register the highest CAGR in the forecast period due to the rising awareness about food safety and sanitary practices.Bactericide and fungicides are seen to be the fastest growing type of application. They are expected to register a CAGR of 8.8%. Use of PAA for bleaching purposes is also gaining popularity in the paper and pulp industry.Use of Peracetic Acids in water treatment has also gained demand in the past few years. The market is expected to grow at a CAGR of 8.1%.
Segments covered in the report:
Application (Revenue, USD Million; 2020–2028)
- Bactericide and fungicide
- Bleaching agent
- Sterilizing agent
- Polymerization catalyst
- Sanitizing agent
Type (Revenue, USD Million; 2016-2028)
- Solution Grade
- Distilled Grade
End Use (Revenue, USD Million; 2020–2028)
- Food and Beverage:
- Fresh produce
- Dairy
- Breweries
- Wineries
- Meat, Poultry and Seafood
- Agriculture
- Water Treatment
- Medical and Healthcare
- Paper and Pulp
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
The Peracetic Acid market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Peracetic Acid market.
Frequently Asked Questions Addressed in the Report:
- What is the estimated market revenue growth over the forecast period?
- What are the major factors driving the global Peracetic Acid market revenue growth?
- Which regional market is expected to account for the largest revenue share in the global Peracetic Acid market over the forecast years?
- Which are the leading players in the global Peracetic Acid market?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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