The Global Peracetic Acid Market is estimated to be valued at US$ 1014.03 Mn in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Peracetic acid is an organic compound used as a broad spectrum sanitizer and disinfectant. It is growing popular due to its effective sterilization and minimal environmental impact. Peracetic acid finds wide application as a disinfectant in food industry, healthcare sector, and water treatment plants.
Market key trends:
Growing demand from food industry is a major trend in peracetic acid market. Peracetic acid is widely used as a sanitizer in meat, poultry and seafood processing plants to eliminate harmful bacteria and microbes. It provides superior sterilization over chlorine and preserves the natural quality of food. Rapid growth of packaged and processed food industry along with rising health concerns is expected to drive the consumption of peracetic acid as an environment friendly alternative to other chemicals during the forecast period.
Segment Analysis
The global peracetic acid market is segmented by form into liquid and solid. The liquid segment currently dominates the market owing to wide application scope in disinfection and sterilization processes. Liquid peracetic acid offers advantages like ease of handling and use in aqueous solutions which makes it suitable for cleaning, sanitization and disinfection applications in food and healthcare industries.
Key Takeaways
The Global Peracetic Acid Market Size is expected to witness high growth, exhibiting CAGR of 7.8% over the forecast period, due to increasing demand from food industry for disinfection and cleaning applications.
Regional analysis: North America currently holds the highest share in the global peracetic acid market owing to stringent regulations regarding hygiene and safety in food industry. Europe and Asia Pacific are poised to witness strong growth over the forecast period owing to expanding end-use industries in the regions.
Key players: Key players operating in the peracetic acid market are Kemira Oyj, Solvay S.A., Promox S.p.A., Evonik Industries, Ecolab Inc., Thai Peroxide Limited, Mitsubishi Gas Chemical Company, Inc., PeroxyChem LLC and Diversey Inc.
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