Peracetic Acid Market Projected To Be Valued At Over Us$ 1,685 Million By 2030, Concludes Marketsandmarkets™

By Author: Jack Martin
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The global 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 disinfectant, sanitizer, bleach, sterilant, industrial reagent, oxidizer, and polymerization catalyst. It is a strong oxidizing agent and has 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 less environmental concerns during operational exposure to workers.

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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 disinfectant 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 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.

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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.

Companies operating in the peracetic acid market are focused on different organic and inorganic growth strategies to expand their presence and increase their market shares, globally. New product development, partnership & agreement, and investment & expansion were the key growth strategies adopted by leading players in the peracetic acid market between 2016 and 2020 (September). Leading manufacturers of peracetic acid include 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), and Sopura (Belgium).

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Evonik Industries is among the leading players in the market due to its global distribution capabilities and strong financial background. With an established brand name in the chemical industry, the company is expected to remain a top player in the peracetic acid market. It also has a strong geographic presence, which helps its growth in this market. Its strong focus on brand management and efficient distribution will help it to maintain its position in the market.

In February 2020, Evonik successfully closed the acquisition of PeroxyChem (US), for USD 640 million. PeroxyChem is a manufacturer of hydrogen peroxide (H2O2) and peracetic acid (PAA) and is well-positioned in high-margin specialty applications. The acquisition unlocked additional growth opportunities for Evonik, especially in the market for environment-friendly disinfectants.
Solvay is another market leader in the peracetic acid business. Solvay is among the top manufacturers of peracetic acid. It primarily focuses on innovations and investments to sustain its leading position in the market. The company has a wide range of peracetic acid products. The strength of the company lies in its strong geographical presence, long-term market presence, and established product portfolio for peracetic acid products.

In February 2017, Solvay, and Aquatic Concept Group (ACG) signed an agreement to work together in pursuit of sustainable growth in their worldwide aquaculture operations. Aquatic is a Norway-based leading supplier of solutions in the food industry. It manufactures products in the field of hygiene, processing equipment, professional cleaning, and consultant. This partnership has helped the companies in expanding the distribution channel for peroxide products.
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