Peracetic Acid Market Size - By Product (Solution-grade, Distilled-grade), End-user (Food & Beverage, Pulp & Paper Bleaching, Water Treatment, Medical, Agriculture), Regional Outlook, Competitive Market Share & Forecast, 2021 - 2027

Peracetic Acid Market Size

Peracetic Acid Market size was around USD 795 million in 2020 and will grow at a CAGR of 9.1% from 2021 to 2027. Total market consumption will grow by 8.6% CAGR in terms of volume to reach 825.8 Kilo Tons by 2027. Rising product demand from the food & beverage, pulp & paper bleaching, medical, and agriculture industries has been a key factor propelling the overall industry growth across various regions.

Peracetic acid is an organic compound commonly used as a versatile antimicrobial and antioxidant agent. It is also used as an effective bactericide and fungicide, especially in food processing applications. Peracetic acid is produced by the auto-oxidation of acetaldehyde and is usually available as a colorless liquid with a pungent odor. It is an unchlorinated by-product and has non-corrosive & non-foaming reactions, followed by a wide temperature range and higher oxidation potential.
 

Rapid population growth and changing lifestyles & eating habits of consumers are believed to be driving the product demand in the processed food industry, especially in developing countries such as India, Brazil, and China, among others. Business working hours and the growing female labor force are driving the demand for packaged foods globally.

Peracetic acid is driven by its applications in the food industry as an antimicrobial agent to preserve food for later consumption. The use of an antimicrobial agent is very essential to achieve the best possible result in food storage. The product has been recognized by the U.S. Food and Drug Administration (FDA) as a safe chemical for the protection of food.
 

Peracetic acid prevents and controls microbial growth in soil and on plants due to which it is widely used in agriculture. The increasing acceptance of the product in efficient water treatment solutions coupled with the increasing demand for drinking water around the world is fueling the peracetic acid market growth. A higher concentration of peracetic acid can cause respiratory & other symptoms and these factors can slow the business growth over the projected timeframe.
 

Peracetic Acid Market Analysis

Solution-grade will hold a major share in the industry over the study timeframe and is anticipated to generate a revenue of over USD 1 billion by 2027. Solution-grade is used in the food & beverage industry for the disinfection of factories, pipes, tanks, equipment, packaging materials, and in animal health applications for the disinfection of stables & surfaces. It is also used in the treatment of wastewater in agricultural applications and for use in water treatment applications to reduce microbial growth.
 

The food & beverage sector is estimated to generate a revenue of over USD 435 million by 2027. Peracetic acid is increasingly used in the food & beverage industry due to its excellent benefits and environmental-friendly characteristics. They are used to disinfect or sterilize equipment, surfaces, reservoirs, and plastic bottles & pipes. In food & beverage packaging applications, many types of products are packaged in plastic bottles made of PET or PE. Packaging materials are sterilized with peracetic acid solutions during the production process to protect beverages. Increased applications in the food & beverage industry will boost the global peracetic acid market share over the forecast period.
 

In 2020, the pulp & paper bleaching end-user generated a demand of around 55 kilo tons. In the pulp & paper industry, it is necessary to disinfect the white-water system to avoid microbial contamination of the fiber material in the circulating water. Peracetic acid solutions are effective biofilm removers in water systems and are used as oxidants biocide in the pulp & paper industry due to their ecological properties.
 

Asia Pacific is the key region in the global peracetic acid market and will witness a CAGR of around 10% from 2021 to 2027 owing to its demand in various end-use industries. Developments in the Asia Pacific food & beverage industry will be a key factor, which will provide huge opportunities for the peracetic acid market to expand its revenue in the region. The region accounted for more than 45% of the total revenue generated by the global food & beverage industry in 2020.
 

China is the largest food & beverage market in the Asia Pacific region with consumer spending on outlets, such as restaurants, buffets, cafes, etc., reaching USD 265 billion (PPP) in 2016. In addition, the increasing requirement for clean water in the region will boost the water treatment industry during the forecast timeframe.

Latin America will generate over USD 115 million by 2027. Expansion in the regional pharmaceutical industry due to cost-effective labor, aging population, and abundant land will drive the sales of regional peracetic acid market. Moreover, increasing developments in countries including Mexico, Argentina and Colombia will further augment the peracetic acid market during the forecast timeframe. The food & beverage industry in Latin America generated a revenue of approximately USD 382 million in 2020.
 

Peracetic Acid Market Share

Key participants operating in the global peracetic acid industry are:

• Evonik Industries
• Kemira Oyj
• Mitsubishi Gas Chemicals Inc
• Solvay S.A
• PeroxyChem LLC
• SEITZ GmbH
• Ecolab Inc

The global peracetic acid market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2017 to 2027 for the following segments:

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By Product

• Solution-grade
• Distilled-grade

By End-user

• Food & beverage
• Pulp & paper bleaching
• Water treatment
• Medical
• Agriculture

The above information is provided on a regional and country basis for the following:

By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Indonesia
  • Malaysia
  • South Korea
• Latin America
  • Brazil
  • Mexico
• MEA
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait