The peracetic acid market size is estimated to be USD 813 million in 2020 and is projected to reach USD 1,685 million by 2030, at a CAGR of 7.6%, between 2020 and 2030. Peracetic acid is widely used as a disinfectant, sanitizer, bleach, sterilant, industrial reagent, oxidizer, and polymerization catalyst. It is a strong oxidizing agent and has a stronger oxidation potential than chlorine or chlorine dioxide. Peracetic acid plays a vital role in the prevention of microbial growth. Global concerns, such as toxic & explosive materials, unwanted harmful process derivatives, end-use performances, and functionality of finished products can be resolved by using the peracetic acid solution, among other competitive products. Its properties include optimum performance, safe derivatives, longer shelf life, and slower thermal degradation. The by–products of the use of peracetic acid are water, H2O2, and acetic acid, which are environment friendly. Thus, it offers comparatively better performance along with fewer environmental concerns during operational exposure to workers.
Disinfectant is projected to be the fastest-growing application of peracetic acid. A key factor for the growth of this segment is the high demand for peracetic acid-based disinfectants in the food & beverage, healthcare, wastewater treatment, and pulp & paper industries. Peracetic acid is largely used in the disinfection of medical supplies in the healthcare industry. In the pulp & paper industry, it is used to prevent biofilm formation. Peracetic acid-based disinfectant is also used in the water treatment industry to treat wastewater and sewage water. It is projected to have a high demand in the water treatment industry and is mostly used for the purification and disinfection of water treatment systems.
The wastewater treatment end-use industry in on the upsurge and is expected to register a high growth rate in the next five years. The growing and developing economies of APAC, such as China and India, with their infrastructural and technological development in the end-use industries, are expected to increase the demand for disinfectants. With the upsurge in the use of peracetic acid-based disinfectants in applications, such as water treatment, food & beverage, and healthcare, the market is expected to grow in the future.
APAC is an emerging market for peracetic acid. The rising demand from end-use industries, such as water treatment, food, and healthcare, is driving the market for peracetic acid products. Also, government proposals to improve healthcare and water treatment activities are likely to drive the peracetic acid market. There are increased foreign investments in the region due to the availability of cheap labor and raw materials.
Many European and North American companies are focused on China and India to cater to the rising demand. Seeking high growth in the APAC region, many key companies have set up their manufacturing base, distribution network, or channel partners in the region. For instance, Kemira Ojy, a Finland-based company, has a manufacturing plant in Nanjing, China. The plant helps cater to the growing demand for water treatment chemicals in the APAC region. Such developments are expected to be vital for the growth of the peracetic acid market in this region.
