Peracetic Acid Market Size Worth USD 1855.6 Million in 2032 | Emergen Research

Vancouver, Dec. 12, 2023 (GLOBE NEWSWIRE) -- The global Peracetic Acid (PAA) market size was USD 934.2 Million in 2022 and is expected to register a rapid revenue CAGR of 7.2% during the forecast period.The surge in demand for PAA is driven by its use in the processed food and medical industries for disinfection, as well as the adoption of advanced technologies in the water treatment sector. The versatility of PAA in critical end-use applications, including Food & Beverage (F&B), healthcare, agriculture, water treatment, and more, further contributes to its market expansion.

Key Factors Driving Market Growth:

Processed Food Industry Demand: The rising need for PAA in the processed food industry for disinfecting surfaces, equipment, and utensils propels market growth.

Medical Industry Application: PAA finds extensive use in the medical industry for disinfecting surgical devices, contributing to the increasing demand.

Water Treatment Industry Adoption: The water treatment industry's adoption of advanced technologies and PAA in critical applications drives market revenue growth.

Innovation in Product Offerings: Manufacturers are investing in Research & Development (R&D) to provide tailored PAA products that meet specific application needs.

Environmental Protection Agency (EPA) Registration: In September 2021, Enviro Tech Chemical Services introduced PeraGuard, a dry PAA floor and equipment sanitizer officially registered by the EPA. It enhances environmental biosecurity and cleanliness in various settings.

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Challenges and Restraints:

Regulatory Compliance and Safety Standards: Strict guidelines regarding the handling, storage, transportation, and disposal of PAA pose challenges, requiring specialized training, equipment, and facilities, leading to additional costs for businesses.

Costs of Compliance: Ensuring a safe working environment demands investments in personal protective equipment and ventilation systems, contributing to compliance costs that act as a deterrent for potential users.

Market Segmentation:

Type Insights:
Distilled PAA Segment Dominates: In 2022, the distilled PAA segment claimed the largest revenue share globally, driven by its adoption in industries where stringent hygiene standards are crucial, such as healthcare, F&B processing, and pharmaceuticals.

Grade Insights:
5% - 15% Grade Segment Growth: The 5% - 15% grade segment is expected to register fast revenue growth, attributed to the rising demand for this grade in applications like precleaning surfaces, equipment, pipelines, and tanks.

Application Insights:

Disinfectant Segment Leads: The disinfectant segment is expected to hold a significantly large revenue share, fueled by the increasing adoption of PAA in disinfecting fruits, vegetables, and surfaces in industries such as F&B and water treatment.

End-Use Insights:

Water Treatment Segment Growth: The water treatment segment is projected to experience moderately fast revenue growth due to the rising demand for PAA in improving drinking water quality, thanks to its strong oxidizing and antimicrobial properties.

Regional Insights:

Europe Dominates Market: Europe accounted for the largest revenue share in 2022, driven by the demand for PAA in chemical industries, particularly in the UK, Germany, and France.

Asia Pacific's Rapid Growth: The Asia Pacific market is expected to register the fastest revenue growth, attributed to the rapid growth of food processing industries in countries like China, Japan, South Korea, and India.

North America's Considerable Share: North America is expected to account for a considerably large revenue share, fueled by the rising demand for bleaching and disinfectant agents, particularly in the U.S. and Canada.

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Scope of Research

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Major Companies and Competitive Landscape

The global PAA market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective PAA. Some of the major companies included in the global PAA market report is:

• Mitsubishi Gas Chemical Company
• PeroxyChem
• Aditya Birla Chemicals
• Evonik Industries
• Kemira
• Ecolab
• Solvay
• SEITZ GmbH
• Acuro Organics Limited
• Hydrite Chemical
• Airedale Chemical
• Loeffler Chemical Corporation
• Diversey Inc.
• Enviro Speciality Chemical Pvt. Ltd.
• Jubilant Life Sciences
• Seeler Industries Inc.
• National Peroxide Ltd.
• Promax Industries
• Thai Peroxide Limited

Strategic Development

• On 9 May, 2023, Evonik received registration from the United States Environmental Protection Agency (EPA) for VIGOROX Trident PAA for use in Recirculating Aquaculture Systems (RAS) and pond feed.  Manufactured by Evonik's Active Oxygens business, the biocide can reduce fish pathogens (bacteria and viruses) in water.  VIGOROX Trident can be used in the presence of fish because it only breaks down into water, oxygen, and acetic acid.
• On 18 August, 2020, Ecolab's Synergex sanitizers and disinfectants received the first approval from the U.S. Environmental Protection Agency (EPA) for effectiveness against biofilm, common Complex bacterial communities found on food contact surfaces. According to EPA, biofilms form when bacteria adhere to environmental surfaces, especially those with high humidity. Ecolab Synergex Sanitizer and Disinfectant is an EPA-registered PAA mixture sanitizer and disinfectant (No. 1677-250) that helps F&B manufacturers improve food safety, ensure quality, worker safety, and air quality.

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For the purpose of this report, Emergen Research has segmented the global PAA market on the basis of type, grade, application, end-use, and region:

• Type Outlook (Revenue, USD Million; 2019-2032)

• • Solution PAA
  • Distilled PAA

• Grade Outlook (Revenue, USD Million; 2019-2032)

• • < 5% Grade
  • < 15% Grade
  • 5% - 15% Grade

• Application Outlook (Revenue, USD Million; 2019-2032)

• • Sterilant
  • Disinfectant
  • Sanitizer
  • Bleaching
  • Others

• End-use Outlook (Revenue, USD Million; 2019-2032)

• • Food & Beverage (F&B)
  • Healthcare
  • Agriculture
  • Water Treatment
  • Pulp and Paper
  • Others

• Regional Outlook (Revenue, USD Million; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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