Insights into the .4 Billion Peracetic Acid Market in 2028: Examining Grades, Applications, End Uses, and Regional

Posted by Jack Martin on November 28th, 2023

The global peracetic acid market size is projected to grow from USD 1.0 billion in 2023 to USD 1.4 billion in  2028, at a CAGR of 7.4%. Acetic acid and hydrogen peroxide are combined to form peracetic acid, which is a watery solution. It is a clear, colorless liquid with a sharp odor and a low pH level.  There are numerous commercial formulations available. Peracetic acid dissolves in solution and reforms into acetic acid and hydrogen peroxide. Peracetic Acid is, a versatile chemical compound with diverse applications in healthcare, food & beverages, water treatment, pulp & paper and others. The market benefits from a growing demand for peracetic acid, primarily driven by its effectiveness in applications across sectors like healthcare, food and beverages and water treatment. However, challenges exist, including fluctuations in the prices of acetic acid and hydrogen peroxide, a key raw material, affecting production costs and necessitating adaptability to price volatility. Peracetic acid is approved by the FDA (Food and Drug Administration) for direct food contact for use in wash water or to assist in the peeling of fruits and vegetables (21 CFR 173.315). It is also approved as a sanitizer on food contact surfaces (21 CFR 178.1010). Peracetic acid is registered as an EPA Section 3 pesticide (40 CFR 152.25(a)).

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The global peracetic acid market is poised for sustained growth, given its indispensable role across multiple industries. Manufacturers must remain adaptable to changing raw material costs, navigate complex regulations, and actively pursue emerging opportunities. Commitment to sustainability and product diversification will be key strategies for success in this dynamic market. In conclusion, peracetic acids' adaptability and versatility make them a fundamental component of the global chemical industry, with a promising future, provided manufacturers prioritize innovation and sustainability in this evolving landscape.

The European region stands out as the largest market for peracetic acid, and several key factors underpin this prominence within the chemical industry. Firstly, the rapid industrialization and urbanization witnessed across several European countries, notably Germany and the UK, have fueled extensive infrastructure development. The main functions of peracetic acid in food processing and handling are as a disinfectant and a sanitizer for surfaces that come into touch with food. In Europe, the food process industry is highly developed and generates USD 1,199 billion annually according to SIAL Paris. France is the market leader in this regard. The majority of businesses in the industry (44%) engage in wholesale (food & drink), which is followed by livestock and agricultural raw materials (12%), beverages (10%), and meat processing (8%).

The current market dynamics of peracetic acid reflect their indispensable nature. Their diverse applications make them essential building blocks for various chemical compounds. This versatility has led to a growing demand for peracetic acid globally, driven by urbanization, infrastructure development, and the need for innovative solutions in healthcare and food & beverages. Major industry players like Solvay, Evonik Industries AG, and Ecolab Inc., wield significant influence in the peracetic acid market, impacting trends, product innovation, and pricing. Moreover, regulatory compliance is crucial, as peracetic acids are subject to environmental and safety regulations that can impact market positioning.

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There are various small, medium, and large players operating in the market. Some of the major market players include Solvay (Belgium), Evonik Industries AG (Germany), Ecolab Inc. (US), Mitsubishi Gas Chemical Company (Japan), Enviro Tech Chemical Services (US), Jubilant Life Sciences (India), National Peroxide Ltd. (India), Kemira Oyj (Finland), Seeler Industries Inc. (US), and Airedale Chemicals (UK). They have adopted various developmental strategies such as partnership & agreement, investment & expansion, product launch, and merger & acquisition to increase their share in the market.

 

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Jack Martin

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Jack Martin
Joined: August 7th, 2017
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