Peracetic Acid Market Size Will Hit USD 1,899 Million By 2032
Updated · Jul 04, 2023
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Published Via 11Press : The Peracetic Acid Market refers to an area within the chemical industry dealing with the production, distribution, and sale of peracetic acid. Also referred to as PAA or peroxyacetic acid (PAA for short), peracetic acid is an organic compound with strong oxidizing properties which is commonly used as a disinfectant, sanitizer, or sterilant due to its antimicrobial properties.
Peracetic acid has seen steady market expansion over recent years due to its wide array of uses across diverse industries, particularly healthcare, food and beverage processing, water treatment, agriculture, and pulp and paper.
The Peracetic Acid Market Size Was To Reach USD 905 Million In 2022 And is Projected To Reach a Revised Size Of USD 1,899 Million By 2032, Growing At A CAGR of 7.9 %
Peracetic acid has long been utilized within healthcare as an instrument for the sterilization of medical equipment, surface disinfection in hospitals, and high-level disinfection of endoscopes. Meanwhile, food and beverage industries employ it as a sanitizer of food contact surfaces, packaging materials, and equipment.
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- Peracetic Acid Market Growth: Due to increasing demand across various industries, the peracetic acid market has experienced tremendous expansion over recent years. Peracetic acid can be seen widely used as a disinfectant or sterilizing agent across sectors including food and beverage production, healthcare facilities, water treatment plants, and pulp and paper mills
- Environmental Regulations: Peracetic acid disinfectant has become one of the more eco-friendly options due to its biodegradability and minimal residue impact, prompting more people to opt for greener disinfectants such as peracetic acid.
- Peracetic acid has found various uses across industries including agriculture and food processing, serving to provide crop protection, postharvest sanitization, and as a preservative in fruits and vegetables. These applications have opened up additional market opportunities for peracetic acid manufacturers.
- Consolidation and Collaborations: In recent years, the peracetic acid market has witnessed consolidation among key players through mergers, acquisitions, and strategic collaborations. These changes have allowed companies to expand their product lines while meeting global demands for peracetic acid more easily.
- North America: North America stands as an established market for peracetic acid due to the established healthcare sector, stringent water treatment regulations, and strong food safety regulations. The United States stands as its main consumer in this region while the adoption of sustainable disinfection solutions and the need for effective sterilization are driving demand further for peracetic acid within this market.
- Europe: Peracetic acid sales in Europe have witnessed substantial growth due to stringent environmental regulations and greater awareness surrounding hygiene and sanitation issues. Germany, France, and the United Kingdom are major consumers of peracetic acid in this continent and its market growth.
- Asia Pacific: Peracetic acid sales in this region have experienced explosive growth over recent years due to factors like rising population numbers and industrialization rates as well as awareness regarding sanitation and food safety in countries like China, India, and Japan.
- Latin America: Peracetic acid consumption has seen rapid expansion throughout Latin America, particularly in Brazil, Mexico and Argentina – its major consumers being Brazil, Mexico and Argentina respectively.
- Middle East and Africa: The peracetic acid market in this region is driven by strong demand from industries including water treatment, food processing and healthcare. Meeting stringent regulatory standards is fuelling market expansion in this region with key contributors being Saudi Arabia, South Africa and United Arab Emirates as key markets.
- Demand for Disinfectants is on the Rise: With increasing awareness about hygiene and sanitation issues across various industries – healthcare, food processing, water treatment – comes an increased awareness of their significance, creating greater demand for disinfectants such as peracetic acid that are effective against infectious disease transmission and help ensure clean environments. In turn, this market continues to flourish.
- Stringent Regulations and Standards: Regulatory bodies and government agencies have implemented stringent disinfection and sterilization standards across industries. Peracetic acid has become a suitable alternative to traditional disinfectants due to its effectiveness, biodegradability, and reduced environmental footprint.
- Sustainable and Eco-Friendly Solutions: In response to rising concerns over chemical disinfectants’ environmental impacts, demand has surged for eco-friendly alternatives like peracetic acid that are biodegradable and have minimal residual effects.
- Increased end-use industries: Industries such as healthcare, food and beverage processing, water treatment and agriculture are seeing global expansion and require effective disinfection and sterilization solutions in order to maintain cleanliness, prevent contamination and ensure product safety – this driving the peracetic acid market forward.
- Health and Safety Considerations: Peracetic acid is a strong oxidizing agent which may be damaging to human skin, eyes, and respiratory system if improperly handled or exposed for prolonged periods. Prolonged exposure or inadequate handling could present serious health hazards that require additional precautionary steps from workers.
- Volatility in Raw Material Prices: Producing peracetic acid requires raw materials like acetic acid and hydrogen peroxide; fluctuations in their prices could alter overall costs, creating uncertainty within the peracetic acid market and possibly leading to price changes on peracetic acid products.
- Limited awareness and education: Although peracetic acid demand continues to increase, awareness about its applications and advantages remains low in certain regions or industries, limiting market expansion as potential users might fail to appreciate all of the advantages it can bring, opting instead for conventional disinfectants instead.
- Peracetic Acid Has Substitutes Available: While peracetic acid offers several advantages as a disinfectant and sterilizing agent, its availability poses several threats to the adoption and growth of peracetic acid usage. Some industries may already have established practices and preferences regarding other disinfectants available on the market.
- Evonik Industries AG
- Kemira Oyj
- Solvay S.A.
- Mitsubishi Gas Chemical Company, Inc.
- Airedale Chemical Company Ltd.
- Ecolab Inc.
- Jubilant Life Sciences Ltd
- Hydrite Chemical
- Other Key Players
Key Market Segments
Based on Purity
Based on Application
Based on End-User
- Food & beverage
- Healthcare Industries
- Water treatment
- Pulp & paper bleaching
- Other End-Users
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- Expansion in emerging economies: Emerging economies, particularly in Asia Pacific, Latin America, and Africa, offer significant growth opportunities for the peracetic acid market. These regions are experiencing rapid industrialization, urbanization, and increasing investments in healthcare infrastructure and water treatment facilities.
- Increasing applications in agriculture: Peracetic acid is gaining traction in the agriculture industry for crop protection, post-harvest sanitization, and as a preservative for fruits and vegetables. The demand for safe and residue-free produce, coupled with the growing focus on sustainable agricultural practices, presents an opportunity for peracetic acid to be used as an effective and environmentally friendly solution in crop protection and preservation.
- Advancements in packaging and storage technologies: Innovations in packaging and storage technologies can enhance the stability and shelf life of peracetic acid products. Improvements in packaging materials, such as barrier films and specialized containers, can minimize the degradation and loss of potency of peracetic acid during transportation and storage.
- Collaboration and strategic partnerships: Collaborations between peracetic acid manufacturers, end-user industries, and research institutions can drive innovation and product development. Strategic partnerships can help in exploring new applications, improving product formulations, and addressing specific industry challenges.
- Safety considerations and handling requirements: Peracetic acid is an extremely strong oxidizing agent which may be hazardous to skin, eyes, and respiratory system health. Therefore, proper handling, storage, and transportation of peracetic acid must be strictly observed so as to prevent accidents while protecting worker health and safety.
- Cost Competitiveness: Peracetic acid may seem more costly compared to some traditional disinfectants, presenting manufacturers with an additional challenge when competing in price-sensitive markets or industries that consider cost as an integral element in making decisions.
- Compliance Issues: The peracetic acid market is subject to various regulations and standards related to product quality, safety, labeling, packaging, and environmental impact. Adherence to these requirements, which vary across regions can be complex and time-consuming for manufacturers
- Peracetic acid faces competition in the market from alternative disinfectants and sterilizing agents; industries may already have established practices or preferences for other products that offer similar efficacy or cost advantages – this poses an obstacle to its adoption and growth; product innovation with unique benefits can help counter this challenge and demonstrate superior performance to overcome this barrier.
- Peracetic Acid’s Rapid Rise in Healthcare Facilities: Peracetic acid has seen rapid adoption across healthcare industries for disinfection purposes, thanks to its ability to combat drug-resistant microorganisms that threaten patient wellbeing and increase hospital, clinic, and other healthcare facility infection rates.
- Peracetic Acid Use in Food Processing and Beverage Industries: Peracetic acid has become more frequently employed by food and beverage producers due to its antimicrobial properties, helping maintain hygiene while also extending shelf life and decreasing spoilage rates.
- Peracetic Acid in Water Treatment Applications: Peracetic acid has become widely employed for the disinfection and removal of organic contaminants from drinking water sources. Due to its effectiveness at eliminating pathogens while remaining environmentally conscious, peracetic acid’s widespread adoption by municipal water systems and industrial water networks has propelled its widespread acceptance as part of water purification solutions.
|The market size value in 2023||USD 905 Mn|
|Revenue Forecast by 2032||USD 1,899 Mn|
|Global Market Growth Rate (2023 to 2032)||CAGR Of 7.9 %|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of the World|
|Short-Term Projection Year||2028|
|Long-Term Projected Year||2032|
Q1: How big is the Peracetic Acid Market?
A1: The global Peracetic Acid Market size was estimated at USD 905 Mn in 2022 and is expected to reach USD 1,899 Mn in 2032.
Q2: What is the Peracetic Acid Market Growth?
A2: The global Peracetic Acid Market is expected to grow at a compound annual growth rate of 7.9 %.
Q3: What is peracetic acid?
A3: Peracetic acid is a strong oxidizing agent and a powerful disinfectant used for sterilization and disinfection purposes in various industries.
Q4: What are the applications of peracetic acid?
A4: Peracetic acid is used in industries such as healthcare, food and beverage processing, water treatment, agriculture, and more for disinfection, sterilization, and preservation purposes.
Q5: What are the advantages of peracetic acid?
A5: Peracetic acid offers advantages such as effective microbial control, broad-spectrum activity, rapid action, biodegradability, minimal residue, and environmentally friendly properties.
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