Peracetic Acid Market is projected to reach USD 1,685 million by 2030 Globally, at a CAGR of 7.6%, says MarketsandMarkets™
Chicago, Nov. 28, 2022 (GLOBE NEWSWIRE) -- The global Peracetic Acid Market is projected to grow from USD 813 million in 2020 to USD 1,685 million by 2030, at a CAGR of 7.6%, as per the recent study by MarketsandMarkets™. The drivers of the industry are the growing usage of peracetic acid in end-use industries and the demand for high-quality biocides products. The availability of different product grades and shift in consumer preference toward high-quality products are also important drivers of the market in recent times. Increase in the use of peracetic acid in industries, such as healthcare, food & beverage, water treatment, pulp & paper, and the emergence of new applications (laundry, breweries, wineries, and agriculture) are expected to change the market dynamics. The growing demand in India, China, Brazil, South-East Asia, and Mexico is expected to drive the market during the forecast period.
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Browse In-Depth TOC On "Peracetic Acid Market”
125 - Market Data Tables
59 - Figures
183 - Pages
List of Key Players in Peracetic Acid Market:
- Evonik Industries AG (Germany)
- Solvay SA (Belgium)
- Mitsubishi Gas Chemical Company (Japan)
- Ecolab Inc. (US)
- Enviro Tech Chemical Services (US)
- Kemira Ojy (Finland)
- Christeyns (Belgium)
- SEITZ GmBH (Germany)
- Jubilant Life Sciences (India)
- Sopura (Belgium)
Drivers, Restraints, Opportunities and Challenges in Peracetic Acid Market:
- Driver: rivers Advantage of peracetic acid over other substitute biocides
- Restraint: High cost and low awareness of benefits
- Opportunity: High growth potential in APAC
- Challenge: Highly reactive product
Key Findings of the Study:
- The sterilant application is projected to grow at the highest CAGR during the forecast period.
- The water treatment end-use industry of the peracetic acid market is expected to grow at the highest CAGR during the forecast period.
- The peracetic acid market in Asia Pacific is projected to grow at the highest CAGR during the forecast period.
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The sterilant application is projected to grow at the highest CAGR during the forecast period.
The sterilant segment is projected to grow at a higher rate than the other application segments. It is an emerging application of peracetic acid. The major factor responsible for the growth of sterilants is their increased demand in the food industry, life sciences, pharmaceutical, and other industrial products. The rising population is also projected to boost the demand from end-user industries, such as healthcare and life sciences.
The water treatment end-use industry of the peracetic acid market is expected to grow at the highest CAGR during the forecast period.
The wastewater treatment application is witnessing a surge in demand and is projected to register a high CAGR in the next five years, globally. The growing and developing economies of Asia Pacific, such as China and India, with their infrastructural and technological development in the end-use industries, are expected to increase the demand for peracetic acid in the markets. The global water treatment market will continuously grow at a higher rate and is projected to drive the overall market of water treatment products. The superior peracetic acid product is expected to surpass the biocides industry growth due to its larger acceptance and rising demand from end-users.
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The peracetic acid market in Asia Pacific is projected to grow at the highest CAGR during the forecast period.
The peracetic acid market in Asia Pacific is projected to grow at the highest CAGR during the forecast period, due to the rising demand from end-use industries, including water treatment, food, and healthcare is increasing the demand for peracetic acid products. The market in Asia Pacific is driven by increased foreign investments due to cheap labor and accessible raw materials. In addition, government proposals to improve the healthcare and water treatment activities along with the increase in the manufacture of end-use products, are driving the peracetic acid market.
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