The Global Peracetic Acid Market was valued at USD 975.43 million in 2023 and is projected to experience significant growth, with an estimated market size of USD 1,051.12 million in 2024, reaching USD 1,923.22 million by 2032. The market is expected to grow at a compound annual growth rate (CAGR) of 7.76% during the forecast period from 2024 to 2032. This surge is primarily driven by increasing demand for eco-friendly disinfectants and sanitizers, ongoing research and development, and expanding applications across a variety of industries.

Market Overview: Sustainable and Eco-Friendly Disinfectant Solution

Peracetic acid, a highly effective organic compound consisting of acetic acid and hydrogen peroxide, is gaining popularity for its strong antimicrobial properties and its environmentally sustainable profile. Unlike conventional disinfectants, peracetic acid decomposes into harmless byproducts such as water, oxygen, and acetic acid, making it a more environmentally friendly alternative. With an increased global focus on sustainability and regulations surrounding sanitation, peracetic acid is rapidly being adopted across industries that require stringent cleaning standards.

This compound is widely used in industries such as food and beverage processing, healthcare, water treatment, and agriculture. Its versatile applications, ranging from disinfection to bleaching, make it an indispensable component in ensuring hygiene and safety across various sectors. As peracetic acid’s broad-spectrum effectiveness against bacteria, fungi, and viruses, it has become an essential tool in the face of rising concerns over foodborne illnesses and contamination.

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Market Scope and Research Methodology

Straits Research’s study on the peracetic acid market offers a comprehensive view of the current market landscape and trends influencing its growth. The report delves into factors driving market expansion, including the increasing need for disinfection solutions, particularly in the food and beverage industry, where regulatory bodies are tightening food safety standards. The report further explores the opportunities arising from innovations in product development, specifically tailored peracetic acid formulations for diverse water treatment applications.

The research methodology includes both primary and secondary research approaches to gather data from industry experts, manufacturers, and key stakeholders in the peracetic acid sector. The report also incorporates market forecasts, segmentations, and regional insights, presenting a detailed understanding of the market’s trajectory over the forecast period from 2024 to 2032.

Segmentation Analysis

The global peracetic acid market is segmented based on grade, application, and end-user industries. Below are the key segments:

1. By Grade:

   • <5% Grade: This grade finds application in specific industries where lower concentrations are required for effective disinfection.

   • 5-15% Grade: The 5-15% grade is widely used across various sectors such as food processing, water treatment, and healthcare, as it balances both efficacy and safety.

   • >15% Grade: High-concentration peracetic acid (>15%) is utilized for more intensive industrial applications, including bleaching and sterilization in specialized facilities.

2. By Application:

   • Disinfectant: Peracetic acid is widely used as a disinfectant in the healthcare, food processing, and water treatment industries, offering quick elimination of microorganisms.

   • Oxidizer: Its strong oxidative properties make it a key ingredient in pulp and paper production, where it is used for bleaching.

   • Sterilant: Peracetic acid is also used as a sterilizing agent, particularly in pharmaceutical manufacturing and medical device sanitization.

   • Other Applications: Additional uses include wastewater treatment, agriculture, and other industrial applications.

3. By End-User:

   • Food and Beverage: This sector is one of the largest consumers of peracetic acid, as it is essential for sanitizing production lines and packaging materials to prevent contamination.

   • Wastewater Treatment: With growing concerns over water quality and pollution, peracetic acid is increasingly used in water treatment facilities for its ability to disinfect and purify water.

   • Pulp and Paper: In the paper industry, peracetic acid is used as a bleaching agent, thanks to its oxidizing properties.

   • Healthcare: Hospitals and healthcare facilities rely on peracetic acid for sterilizing medical equipment and surfaces to prevent infection.

   • Chemicals: Various chemical processes also use peracetic acid, particularly in industrial cleaning and sterilization processes.

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Regional Insights: Asia-Pacific Leads the Market

Asia-Pacific dominates the global peracetic acid market, contributing to the highest market share. This region is witnessing rapid industrial growth, urbanization, and an increasing awareness of hygiene and sanitation. Countries like China and India are expanding their manufacturing and food processing industries, driving the demand for effective and environmentally friendly disinfectants like peracetic acid. As a result, peracetic acid has found widespread application across multiple sectors such as food and beverage processing, water treatment, and healthcare.

In particular, China is one of the largest consumers of food and beverages globally, with significant demand for packaged food and beverages. The country’s growing industrialization and demand for clean water further contribute to the market’s expansion. India’s rising paper and paperboard industry also contributes to the growing need for peracetic acid in bleaching and sterilization processes. The rapid expansion of these industries in Asia-Pacific is expected to propel the growth of the peracetic acid market in the region.

Key Players in the Peracetic Acid Market

Several key players are driving growth and innovation in the global peracetic acid market. Some of the notable companies include:

• Aditya Birla Chemicals

• Airedale Chemical Company

• Diversey Inc.

• Ecolab Inc.

• Enviro Tech Chemical Services

• Evonik Industries

• FMC Corporation

• Jubilant Life Sciences

• Kemira Chemicals

• Lenntech

• Mitsubishi Gas Chemical Co.

• National Peroxide Ltd.

• PeroxyChem

• Seitz GmbH

• Solvay S.A.

These companies are continuously working on enhancing product formulations, improving efficiency, and expanding their global presence. They also invest in research and development to cater to the growing demand for customized peracetic acid solutions for different industries.

Recent Developments

In February 2023, Jubilant Bhartia Group announced plans to establish a cutting-edge laboratory in Hyderabad's Genome Valley. This expansion will focus on increasing the company's capabilities in peracetic acid production, as the demand for such eco-friendly disinfectants continues to rise across industries.

Market Restraints: Volatility and Corrosive Nature

Despite the rapid growth, the peracetic acid market faces some challenges. One of the primary restraints is the volatility and corrosive nature of peracetic acid. As a highly reactive compound, it can cause damage to industrial equipment, such as metals, plastics, and coatings, due to its oxidizing properties. This increases maintenance costs, necessitating the use of corrosion-resistant materials, and raises operational expenses for businesses using peracetic acid. Furthermore, these properties limit the compound's storage and handling capabilities, requiring strict safety protocols.

Key Opportunities: Customization and Innovation

Innovations in peracetic acid formulations present significant opportunities in the market. Customizing concentrations for specific water treatment needs or designing safer, more efficient products can address regional variations in water quality, enhancing the overall effectiveness of disinfection efforts. Tailoring solutions to meet the needs of diverse industries, such as pharmaceutical production or food processing, offers immense growth potential.

FAQs:

1. What is peracetic acid? Peracetic acid is an organic compound composed of acetic acid and hydrogen peroxide. It is valued for its strong antimicrobial properties and environmentally friendly decomposition.

2. What are the primary applications of peracetic acid? Peracetic acid is widely used as a disinfectant, sterilizing agent, and oxidizer across industries such as food processing, healthcare, water treatment, and paper manufacturing.

3. Why is peracetic acid considered eco-friendly? Peracetic acid breaks down into harmless byproducts such as water, oxygen, and acetic acid, making it a sustainable option compared to traditional disinfectants.

4. What are the market drivers for peracetic acid? Key drivers include rising food safety regulations, growing awareness of sanitation and hygiene, and increasing demand for environmentally friendly disinfectants.

5. Which region is leading the peracetic acid market? Asia-Pacific is the largest and fastest-growing region, driven by industrialization, urbanization, and the increasing demand for sanitation solutions.