Peracetic acid is a versatile chemical compound that finds applications in various industries. It is widely used as a disinfectant, sterilant, and sanitizer in sectors such as healthcare, food and beverage, water treatment, and pulp and paper. The market for peracetic acid is expected to grow significantly in the coming years.
By 2022, the revenue generated from peracetic acid is projected to reach USD 813.94 million, with a compound annual growth rate (CAGR) of 8.35%. This upward trend is forecasted to continue, and by 2030, the revenue is anticipated to reach USD 1546.05 million.
The application segment holds the majority share of the peracetic acid market, contributing 54.2% of the total revenue. Within this segment, the subsegments of disinfectant, sterilant, and sanitizer are the key drivers of market growth. On the other hand, the end-use industry segment accounts for 45.8% of the market share, with healthcare, food and beverage, water treatment, and pulp and paper being the main sectors utilizing peracetic acid.
North America currently leads the peracetic acid market, being the largest region in terms of revenue. However, the Asia-Pacific (APAC) region is expected to be the fastest-growing market during the forecast period due to the increasing demand from emerging economies such as China and India.
Several factors drive the demand for peracetic acid, including the growing demand in end-use industries, the need for high-quality biocides products, and the availability of different product grades. However, there are also some challenges to the market, such as the high cost of peracetic acid, safety concerns, and stringent environmental regulations.
Despite these challenges, there are opportunities for market growth. The emerging applications of peracetic acid in various industries offer potential for expansion. Additionally, the growing demand in emerging markets and government initiatives to promote the use of biocides provide opportunities for market players.
Overall, the peracetic acid market is poised for significant growth in the coming years, driven by the increasing demand in various end-use industries and the emerging applications of this versatile chemical compound. Companies such as Kemira, Ecolab, Quat-Chem, BioSafe Systems, and Lanxess are some of the key players in the market.
|2022 - 2030
|USD 813.94 Million
|USD 1546.05 Million
|Fastest Growing Region
Market Key Points
- The market for Peracetic Acid is expected to reach USD 813.94 Million in 2022 and is projected to grow at a CAGR of 8.35% to reach USD 1546.05 Million in 2030.
- The application segment holds a share of 54.2% in the market, with subsegments including Disinfectant, Sterilant, and Sanitizer.
- The end-use industry segment holds a share of 45.8% in the market, with subsegments including Healthcare, Food & Beverage, Water Treatment, and Pulp & Paper.
- The largest region for the Peracetic Acid market is North America, while the fastest-growing region is APAC.
- The drivers for the market include growing demand in end-use industries, demand for high-quality biocide products, and availability of different product grades.
- The restraints for the market include the high cost of Peracetic Acid, safety concerns, and environmental regulations.
- The opportunities for the market include emerging applications of Peracetic Acid, growing demand in emerging markets, and government initiatives to promote the use of biocides.
- Key companies in the Peracetic Acid market include Kemira, Ecolab, Quat-Chem, BioSafe Systems, and Lanxess.
Market Dynamics (DRO)
1. Growing demand for peracetic acid in end-use industries: The increasing demand for peracetic acid in various industries such as healthcare, food & beverage, water treatment, and pulp & paper is a major driver for the market. Peracetic acid is widely used as a disinfectant, sterilant, and sanitizer in these industries due to its strong antimicrobial properties.
2. Demand for high-quality biocide products: With the focus on maintaining hygiene and preventing the spread of infections, there is a growing demand for high-quality biocide products like peracetic acid. It is effective against a wide range of microorganisms, including bacteria, viruses, and fungi, making it a preferred choice for many applications.
3. Availability of different product grades: The availability of different grades of peracetic acid, such as industrial grade, commercial grade, and pharmaceutical grade, is driving its adoption in various industries. These different product grades offer flexibility and cater to the specific requirements and standards of different end-use industries.
1. High cost of peracetic acid: One of the major restraints for the peracetic acid market is its relatively high cost compared to other disinfectants or sanitizers. The production of peracetic acid involves complex manufacturing processes, which result in higher production costs. This can limit its adoption, especially in price-sensitive industries.
2. Safety concerns: Peracetic acid is a strong oxidizing agent and can be hazardous if not handled properly. It can cause skin and eye irritation, respiratory issues, and can be harmful if ingested or inhaled. These safety concerns can restrict its use and require strict adherence to safety protocols during handling and storage.
3. Environmental regulations: The use and disposal of peracetic acid are subject to environmental regulations due to its potential impact on aquatic life and ecosystems. The release of peracetic acid into water bodies can lead to environmental contamination. Compliance with these regulations and ensuring proper disposal can pose challenges for industries using peracetic acid.
1. Emerging applications of peracetic acid: Peracetic acid is finding new applications in emerging industries such as pharmaceuticals, personal care products, and agriculture. The growing awareness of its antimicrobial properties and benefits are opening up new opportunities for its use in various innovative applications.
2. Growing demand in emerging markets: The increasing industrialization and economic growth in emerging markets present a significant opportunity for the peracetic acid market. These markets are witnessing a surge in demand for disinfectants and sanitizers in various industries, thereby driving the demand for peracetic acid.
3. Government initiatives to promote the use of biocides: Governments across the world are implementing stringent regulations to ensure hygiene and safety standards in industries. As part of these initiatives, there are efforts to promote the use of biocides, including peracetic acid, in various applications. These government initiatives create favorable conditions for the growth of the peracetic acid market.
Peracetic Acid Market Segment Insights
Peracetic Acid is segmented based on application and end-use industry.
1. Application Segment:
- Disinfectant: This segment holds the largest share in the Peracetic Acid market. Disinfectants containing peracetic acid are widely used in healthcare settings, food processing facilities, and water treatment systems. The increasing focus on hygiene and disinfection is driving the demand for peracetic acid as a potent disinfectant.
- Sterilant: Peracetic acid-based sterilants are commonly used in medical device sterilization, pharmaceutical manufacturing, and laboratory settings. The growing need for effective sterilization methods in healthcare and pharmaceutical industries is propelling the demand for peracetic acid as a sterilant.
- Sanitizer: Peracetic acid is utilized as a sanitizer in the food and beverage industry to maintain food safety and prevent contamination. The strict regulatory standards for food safety are driving the adoption of peracetic acid sanitizers in the food and beverage industry.
2. End-use Industry Segment:
- Healthcare: The healthcare industry is a prominent consumer of peracetic acid due to its wide applications in hospitals, clinics, and medical devices. The increasing focus on infection control and prevention in healthcare facilities is fueling the demand for peracetic acid in this segment.
- Food & Beverage: The food and beverage industry is a major user of peracetic acid for sanitation purposes. Peracetic acid is effective against a wide range of microorganisms, making it a preferred choice for maintaining food safety standards.
- Water Treatment: Peracetic acid is utilized in water treatment for disinfection and removal of organic impurities. The increasing need for clean and safe water for various applications is driving the demand for peracetic acid in water treatment.
- Pulp & Paper: Peracetic acid is used as a bleaching agent in the pulp and paper industry to remove residual lignin and brighten the paper. The growing demand for high-quality paper products is creating opportunities for peracetic acid in this segment.
Each segment presents unique opportunities for market growth and expansion. The diverse applications and end-use industries of peracetic acid contribute to its overall market growth and revenue generation.
The largest region for Peracetic Acid is North America, accounting for a significant portion of the market share. This can be attributed to the strong presence of end-use industries such as healthcare, food & beverage, water treatment, and pulp & paper in the region. Additionally, stringent regulations regarding disinfection and sterilization in these industries have further fueled the demand for Peracetic Acid.
On the other hand, the fastest-growing region for Peracetic Acid is Asia-Pacific (APAC). This can be attributed to the rapid industrialization and urbanization in countries like China and India. The increasing awareness about hygiene and sanitation in the healthcare and food & beverage sectors, along with the growing demand for clean water, has led to a surge in the adoption of Peracetic Acid in the region.
Overall, both North America and APAC present significant opportunities for the growth of the Peracetic Acid market, driven by the increasing demand from end-use industries and favorable government initiatives to promote the use of biocides.
Key Market Trends
Recent market trends in the peracetic acid industry include:
1. Growing demand for peracetic acid in end-use industries: The demand for peracetic acid is increasing in various end-use industries such as healthcare, food and beverage, water treatment, and pulp and paper. This is mainly due to its effective antimicrobial properties and its ability to disinfect and sanitize surfaces.
2. Emerging applications of peracetic acid: Peracetic acid is finding new applications in various sectors. For example, it is being used in the agricultural industry for post-harvest applications to protect crops from fungal and bacterial infections. It is also being used in the oil and gas industry for well stimulation and enhanced oil recovery.
3. Growing demand in emerging markets: With rapid industrialization and urbanization in emerging markets such as China, India, and Brazil, the demand for peracetic acid is on the rise. These countries have a large population, which leads to increased demand for clean water, food safety, and healthcare, where peracetic acid plays a crucial role.
4. Government initiatives to promote the use of biocides: Governments around the world are introducing initiatives to promote the use of biocides, including peracetic acid, in various industries. This is driven by the need to ensure public health and safety, as well as to comply with environmental regulations.
5. Demand for high-quality biocides products: There is an increasing demand for high-quality biocides products, including peracetic acid, which provide effective disinfection and sanitization capabilities. This is driven by the growing awareness and emphasis on hygiene and cleanliness in various sectors.
Overall, the peracetic acid market is expected to witness significant growth in the coming years, driven by the increasing demand in end-use industries, emerging applications, and government initiatives. However, challenges such as the high cost of peracetic acid, safety concerns, and environmental regulations need to be addressed to fully realize the market's potential.
Key Companies Insight
In the market for peracetic acid, several key players are competing to capture a significant market share. Some of the prominent companies operating in this industry include Kemira, Ecolab, Quat-Chem, BioSafe Systems, and Lanxess. These companies have implemented various strategies such as mergers and acquisitions, partnerships, and product launches to stay competitive in the market.
Kemira is one of the leading players in the peracetic acid market, offering a wide range of high-quality biocides products. The company focuses on continuous product development and innovation to meet the growing demand in different end-use industries. They also emphasize sustainability and environmental protection, aligning with the increasing focus on green chemistry.
Ecolab is another significant player in the market known for its extensive range of water treatment and disinfection solutions. The company has a strong global presence and a diverse customer base, particularly in the healthcare and food & beverage sectors. Ecolab's focus on providing effective and cost-efficient solutions has contributed to its competitiveness in the market.
Quat-Chem is a key player specializing in the development and manufacturing of disinfectant products, including peracetic acid-based solutions. The company's expertise lies in providing tailored solutions to specific industry needs and maintaining high product quality. They have a strong presence in the healthcare sector, where there is a high demand for disinfection and sterilization products.
BioSafe Systems focuses on providing sustainable and environmentally friendly solutions for various industries, including agriculture, food processing, and water treatment. The company's peracetic acid offerings are known for their effectiveness as disinfectants and sanitizers while minimizing environmental impact. BioSafe Systems' commitment to eco-friendly practices gives them a competitive advantage in an evolving market.
Lanxess, a global specialty chemicals company, offers high-quality peracetic acid products for various applications. Their focus on innovation, research, and development has allowed them to introduce advanced solutions that meet customer requirements across different industries. Lanxess has a strong presence in North America, making it a key player in the largest region for peracetic acid.
Overall, these key players in the peracetic acid market compete by offering high-quality products, emphasizing sustainability, and meeting the specific needs of different end-use industries. Continuous innovation, strategic partnerships, and expansion into emerging markets are crucial factors that will determine their competitive position in the future.
Peracetic Acid Market has witnessed significant growth in recent years and is expected to continue its upward trajectory in the coming years. The global market for peracetic acid is projected to reach USD 813.94 million by 2022 and USD 1546.05 million by 2030, growing at a CAGR of 8.35%.
One of the key factors driving the demand for peracetic acid is its increasing use in various end-use industries. Peracetic acid is widely used as a disinfectant, sterilant, and sanitizer in the healthcare sector, food and beverage industry, water treatment facilities, and pulp and paper mills. These industries require effective biocides to ensure high levels of hygiene and prevent the growth of pathogens. The growing demand for peracetic acid in these industries is expected to contribute to market growth.
Another factor driving market growth is the availability of different product grades. Peracetic acid is available in various concentrations, allowing it to be used in different applications. The availability of different product grades expands the range of potential applications and attracts more customers.
However, the high cost of peracetic acid is a major restraint for market growth. The production of peracetic acid involves the use of expensive raw materials and energy-intensive processes. The high cost of production translates to high prices for customers, which can hinder market growth.
Additionally, safety concerns and environmental regulations pose challenges to the market. Peracetic acid is a strong oxidizing agent and can be hazardous if mishandled. Proper safety measures need to be implemented during storage, handling, and transportation to minimize risks. Moreover, stringent environmental regulations on chemical usage and waste disposal can create barriers for market players.
Despite these challenges, there are several opportunities for market growth. The emerging applications of peracetic acid, such as in the agricultural sector, open new avenues for market players. Furthermore, the growing demand for peracetic acid in emerging markets, coupled with government initiatives to promote the use of biocides, presents favorable growth prospects.
In conclusion, the peracetic acid market is poised for steady growth in the coming years. While challenges such as high costs, safety concerns, and environmental regulations exist, the market is driven by the increasing demand in end-use industries and the availability of different product grades. The market also benefits from emerging applications and the growth potential in emerging markets. Market players should focus on product innovation, safety measures, and sustainability to capitalize on these opportunities and overcome the challenges.