Global Peracetic Acid Market Outlook
Revenue, 2024
Forecast, 2034
CAGR, 2024 - 2034
Peracetic acid is an oxidizing substance known for its fantastic antimicrobial abilities and is a valuable asset for various important industries worldwide due to its effectiveness even in small amounts which makes it an affordable choice for big operations as well as being environmentally friendly because it breaks down into harmless substances; this aligns with the current push for sustainable practices in various sectors. In the few years new technologies have allowed for better control and more efficient application of peracetic acid, in different industries.
Market Key Insights
- The Peracetic Acid market is projected to grow from $1.3 billion in 2024 to $2.6 billion in 2034. This represents a CAGR of 7.3%, reflecting rising demand across Disinfection in Food & Beverage Industry, Healthcare & Pharmaceuticals and Water Treatment.
- Ecolab Inc., Solvay SA, Evonik Industries AG are among the leading players in this market, shaping its competitive landscape.
- U.S. and Germany are the top markets within the Peracetic Acid market and are expected to observe the growth CAGR of 4.7% to 7.0% between 2024 and 2030.
- Emerging markets including India, Brazil and South Africa are expected to observe highest growth with CAGR ranging between 8.4% to 10.1%.
- Transition like Surge in Demand is expected to add $200.0 million to the Peracetic Acid market growth by 2030
- The Peracetic Acid market is set to add $1.3 billion between 2024 and 2034, with manufacturer targeting Healthcare & Water Treatment End-Users projected to gain a larger market share.
- With Increasing demand in food and beverage industry, and Innovations in healthcare applications, Peracetic Acid market to expand 102% between 2024 and 2034.
Opportunities in the Peracetic Acid
Establish partnerships with organizations and sanitation departments to boost the usage of Peracetic Acid in water treatment plants due to its proven ability to combat harmful bacteria and viruses effectively. This aligns with the increasing emphasis, on maintaining safe water amidst rising environmental issues.
Growth Opportunities in North America and Asia-Pacific
North America Outlook
Asia-Pacific Outlook
Market Dynamics and Supply Chain
Driver: Increasing Demand in Food and Beverage Industry, and Flourishing Wastewater Treatment Schemes
The progress in healthcare technology has also paved the way for expanded utilization of Peracetic Acid with its ability to eliminate spores being increasingly utilized in sterilizing medical tools and surfaces to minimize the threat of infections linked to healthcare settings while the increasing focus on upholding rigorous cleanliness standards is also anticipated to drive the demand, for Peracetic Acid in this field in the future.
Restraint: Regulatory Constraints
Opportunity: Technological Innovations Driving Demand and Exploring Untapped Potential
The expanding food and beverage sector offers unexplored opportunities for utilizing Peracetic Acid as a reliable and efficient antimicrobial solution. Especially in developing nations like India and China where evolving dietary habits and the fast growing middle class population are fueling the need, for high quality processed foods.
Challenge: High Production Costs
Supply Chain Landscape
Dow Chemical
BASF
Solvay
Evonik Industries
Brenntag
Univar Solutions
Food & Beverage
Pulp & Paper
Water Treatment
Dow Chemical
BASF
Solvay
Evonik Industries
Brenntag
Univar Solutions
Food & Beverage
Pulp & Paper
Water Treatment
Applications of Peracetic Acid in Disinfection in Food & Beverage Industry, Healthcare & Pharmaceuticals & Water Treatment
As a potent bactericide, fungicide and virucide, Peracetic Acid finds wide application in the food and beverage industry. Concentrated solutions are predominantly used to sanitize and disinfect process equipment, pipelines, bottling lines and storage facilities. Owing to its non-toxic degradation products and effective germicidal abilities, it is especially useful as an alternative to chlorine-based sanitation solutions. Top players in this application include Solvay, Enviro Tech, and Evonik Industries, who have secured a solid market position with their strength in advanced formulation and application techniques.
Peracetic Acids proven efficacy against waterborne pathogens and its biodegradability give it a foothold in the water treatment industry. High-strength Peracetic Acid products are frequently used to eliminate microbes in municipal and industrial wastewater treatment processes, reducing biofilm formation and pathogen transmission. Key players in this sector include PeroxyChem, Arkema, and Mitsubishi Gas Chemical Company. Their superior product ranges and sustainable solutions contribute to their significant presence in the market.
In pharmaceutical and healthcare sectors, Peracetic Acid serves as a high-level disinfectant for medical equipment and surfaces.
Recent Developments
ChemTech Industries expanded its production capabilities for Peracetic Acid under the brand name Puritac, addressing the growing demand in the food and beverage sector
BioSafe Systems launched a new range of Peracetic Acid-based products, harnessing its advantages in sanitation applications
Solvay Chemicals, a global leader in the Peracetic Acid market, acquired a smaller player to increase its supply chain efficiency and meet the burgeoning demand.