Peracetic Acid Market Rising at $655.0 million by globally 2021: Market Size Forecasters

Peracetic Acid Market Rising at $655.0 million by globally 2021: Market Size Forecasters

Peracetic acid is also known as PAA or peroxyacetic acid. It is a colorless, highly acidic liquid with a strong, pungent and unpleasant odor. It is an organic compound with the formula CH3CO3H. It is soluble in ether, sulfuric acid, ethanol, and miscible with water. Hydrogen peroxide (H2O2) and acetic acid (CH3COOH) are key raw materials used in the manufacture of peracetic acid.  It is very effective as a biocide and is used in a wide range of applications. The peracetic acid used in various products with concentration ranging from 5%-35% content. Peracetic acid is mainly used as a food & beverage, pulp & paper bleaching, medical, agriculture and others industries. It is also used as a water purifier and disinfectant.

According to the report, global demand for peracetic acid was valued at around USD 425.0 million in 2014 and is expected to reach USD 655.0 million in 2020, growing at a CAGR of above 7 % between 2015 and 2020. Zion Market Research has published a new report titled “Peracetic Acid Market for Food and Beverages, Pulp and Paper, Water Treatment, Medical, Agriculture, and Others Applications: Global Industry Perspective, Comprehensive An, lysis and Forecast, 2014 – 2020”.

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The major driving factor for the global peracetic acid market is rapidly growing food processing and beverage industry. In food processing industry peracetic acid is mainly used as a preservative for meat and fish. Furthermore, increasing demand for peracetic acid in many beverages processing application is also acting as the key driver for the market. Hence the food and beverages are expected to be the fastest growing application segment of the global peracetic acid market in the next six years.  Another key driving factor is in demand from the water treatment industry such as rising demand for clean water from household and industrial applications. However, health hazard associated with continuous exposure of peracetic acid is expected to become major restraint for this market.

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The global peracetic acid market on the basis of the application is segmented as food and beverages, pulp and paper bleaching, water treatment, medical, agriculture and others (including household, laundry, etc.). The food and beverages industry was the largest application segment among the other segment.  Food and beverages application accounted over 23% of the overall share of the market in 2014. Increased consumption of food such as frozen meat products and beverages industry is attributed to the food and beverage application is expected to propel the peracetic acid demand during the forecast period. In addition, water treatment followed by medical, pulp & paper industry is expected to the fastest growing applications of peracetic acid.

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In 2014, North America dominated the global peracetic acid market and accounted for over 28% share of the total market. However, Asia Pacific is anticipated to be the fastest growing market during the forecast period due to strong demand from emerging economies like India and China. Moreover, Latin America and Middle East & Africa are also expected to witness rapid growth in peracetic acid demand.

Some of the key players in the global peracetic acid market include Kemira Oyj, Mitsubishi Gas Chemical Inc., Aditya Birla Chemicals, Evonik Industries, Solvay S.A., Promox S.p.A., Ecolab Inc., PeroxyChem Llc., SEITZ GmbH and Enviro Tech Chemical Services Inc.