What Has Been the Growth Trajectory of the Peracetic Acid Market?
The peracetic acid market has seen considerable growth due to a variety of factors.
• The market size of peracetic acid has experienced a significant growth in the past few years. The market value is projected to increase from $1.13 billion in 2024 to $1.25 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 10.3%.
This growth in the previous years has been driven by factors such as the expansion of the meat production industry, a rise in demand from the food and beverages sector, the extensive use of peracetic acid in the agriculture sector, increased preference for effective water treatment solutions, and the demand for high-quality biocide products.
What Can Be Expected from the Peracetic Acid Market in the Coming Years?
The peracetic acid market is expected to maintain its strong growth trajectory in upcoming years.
• It is anticipated that the peracetic acid market will experience significant expansion in the forthcoming years, with its value expected to reach $1.83 billion by 2029, reflecting a compound annual growth rate (CAGR) of 10.1%.
This upward trend during the forecast period is due to the increasing utilization of peracetic acid in the pharmaceutical sector, the burgeoning demand for superior quality paper goods, the need for potable water, a boost in healthcare spending, and a rising global populace. The forecast period will witness major trends such as improved infrastructure, incorporation of sophisticated reactors, streamlined production methods, bio-based production, and the emergence of cutting-edge heterogeneous catalysts.
What Are The Leading Drivers Of Growth In The Peracetic Acid Market?
The need for peracetic acid in the market is expected to surge due to the increasing demand for safe drinking water. Factors such as population growth, urbanization, industrialization, amplified agricultural necessities, and climate change's impact on water resources are causing an uptick in the demand for drinking water which in turn intensifies competition over scarce fresh water supplies. Peracetic acid plays an indispensable role in providing safe drinking water as it effectively eradicates pathogens without leaving detrimental residues or byproducts behind, thereby ensuring water safety and environmental sustainability. For example, in February 2024, a report from UNESCO, a specialized agency based in France, highlighted that as of 2022, there were 2.2 billion people who still needed access to safely managed drinking water. The report also noted that four out of five individuals lacking basic drinking water services resided in rural areas. Consequently, the growth of the peracetic acid market is being fuelled by the increasing demand for safe drinking water.
How Is the Peracetic Acid Market segmented?
The peracetic acid market covered in this report is segmented –
1) By Grade: Solution Grade, Distilled Grade
2) By Application: Disinfectant, Sterilant, Sanitizer, Other Applications
3) By End-Use: Healthcare, Food And Beverage, Water Treatment, Pulp And Paper, Other End-Users
Subsegments:
1) By Solution Grade: 5-15% Peracetic Acid Solution, 15-30% Peracetic Acid Solution, 30-35% Peracetic Acid Solution, Low-Concentration Peracetic Acid Solution
2) By Distilled Grade: High Purity Peracetic Acid, Analytical Grade Peracetic Acid, Industrial-Grade Distilled Peracetic Acid
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What New Trends Are Influencing the Peracetic Acid Market?
Leading entities in the peracetic acid market are directing their efforts towards the formulation of innovative products like recirculating aquaculture systems (RAS) and biocides to boost productivity. The former is a viable method of fish farming that recycles water to retain optimum quality while minimizing environmental harm, thereby facilitating the farming of fish at high densities and preserving water. Biocides are chemicals used to eliminate or control harmful organisms such as bacteria, fungi, viruses, and pests and find diverse applications in disinfection, pest control, and water treatment. For example, Evonik introduced VIGOROX Trident in May 2023 which effectively curtails fish pathogens in recirculating aquaculture systems and fish ponds, even in the presence of fish. The primary goal is to offer an efficient solution for managing water quality and controlling waterborne fish pathogens in aquaculture.
Who Are the Key Players in the Peracetic Acid Market?
Major companies operating in the peracetic acid market are include:
•Brenntag AG
• Evonik Industries AG
• Ecolab Inc.
• Univar Solutions Inc.
• Solvay S.A.
• FMC Corporation
• Mitsubishi Gas Chemical Co Inc.
• Steris Corporation
• Kemira Chemicals
• Hawkins Inc.
• Hydrite Chemical Co.
• Christeyns NV
• PeroxyChem LLC
• Spectrum Chemical Manufacturing Corp.
• Airedale Chemical Company
• Seeler Industries Inc
• Chemtex Speciality Ltd.
• Acuro Organics Limited
• Promox S.p.A.
• A. B. Enterprises
• Evans Chem India Pvt. Ltd.
What Is The Most Dominant Region In The Peracetic Acid Market?
North America was the largest region in the peracetic acid market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the peracetic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
