Peracetic Acid Market Analysis

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.