Peracetic acid (also known as peroxyacetic acid, or PAA) is a highly oxidizing organic compound used as a disinfectant, sanitizer, and sterilant. It is used in a wide variety of applications, such as wastewater treatment, food, and beverage production, surface disinfection, and medical device sterilization. It is also used for bleaching and deodorizing textiles, and for treating drinking water.
According to a new report by MarketsandMarkets™, the Peracetic Acid Market is expected to reach US$ 1,685 million by 2030, at a CAGR of 7.6%. The increasing demand for biocides and disinfectants, and the surge in the usage of peracetic acid in industrial applications are the major factors driving the growth of the market. Additionally, the increasing demand for peracetic acid from the food and beverage industry is also expected to propel the growth of the market during the forecast period.
The growth of the peracetic acid market in the Asia Pacific region is mainly driven by the increasing demand for peracetic acid from various end-user industries such as food & beverages, pharmaceuticals, and water treatment. The growing food & beverage industry in the region is expected to fuel the demand for peracetic acid, as it is widely used as a disinfectant and preservative in the industry. In addition, the rising demand for peracetic acid from the water treatment industry in the region is another major factor driving the market. Rapid industrialization and urbanization, as well as increasing government initiatives to improve water treatment infrastructure, are likely to propel the demand for peracetic acid in the region. Furthermore, the growing pharmaceutical industry in the region is projected to boost the market growth of peracetic acid during the forecast period.
The North American region is expected to remain one of the leading markets for peracetic acid over the next decade. This is largely due to the presence of many end-user industries that require the use of peracetic acid in their operations. The Europe region is expected to remain the most profitable market for peracetic acid during the forecast period. The region is a major consumer of peracetic acid, driven by the growing demand for peracetic acid in various applications, such as food disinfection, wastewater treatment, and medical device sterilization.
