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Global Peracetic Acid Market it is anticipated to reach at market value of US$ 1.1 Bn by 2027
Bizizz Market Research has recently published a research report, “Peracetic Acid Market by Application (Disinfectant, Sanitizer, Sterilant, and Others) by Grade (Distilled grade and Solution grade) by End-Use Industry (Paper & pulp, Healthcare, Water Treatment, Food & Beverages, and Others) and Region-Global Industry Trends, Estimation & Forecast, 2019 - 2027”.
As per the report, Global Peracetic Acid Market was valued at US$ XX Mn in 2018 and it is anticipated to reach at market value of US$ 1.1 Bn by 2027, witnessing a CAGR of 7.6 % during the forecast period. Key drivers of the market are wide range of application and R&D initiatives, and huge demand from developing economies.
Peracetic Acid has major application in food & beverages industry. The chemical has antimicrobial properties which makes it suitable to be used as a disinfectant in food service and beverages industry. Also, the advanced properties associated with peracetic acid makes it referable over other disinfectant such as chlorine, hydrogen peroxide, and sodium hypochlorite. This is anticipated to fuel the market growth.
The Peracetic Acid Market Is Anticipated To Register A CAGR Of Over 7.6 % During The Forecast Period.
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Based on End-Use Industry, The Water Treatment Segment is Anticipated to Dominate the Global Market By Holding a Prominent Share Throughout The Forecast Period
Peracetic acid is majorly used in water and wastewater treatment due to its environment friendliness. It is used in municipal water disinfection for replacement of chlorine. Also, the acid has several benefits such as minimum pH and temperature dependence, high effective microbial skills, long shelf life, environment friendly decomposition products, and stable in storage which results in increased demand from end-users. The regional and international government is taking several initiatives to accelerate the process of water disinfection which is anticipated to favor the segment growth.
North America Is Anticipated To Hold Prominent Share During the Forecast Period
In terms of region, Europe is anticipated to lead the global market over the forecast period. The region occupied 34.2 % share in 2018. The growth of the region can be attributed to rising concern regarding wastewater treatment and several initiatives to generalize usage of peracetic acid. Moreover, significant uptake in food & beverages industry is also expected to create new opportunities for the segment growth.
The global market is consolidated with few global players. Almost 70 % market share is occupied by 4-5 players cumulatively. The companies are engaged in expanding their global presence which will eventually help their to increase their customer base significantly
Prominent players operating in the Global Peracetic Acid Market are: Diversey Inc, Solvay S.A., Airedale Chemical Company, Ecolab Inc., FMC Corporation, Evonik Industries, and Peroxychem, among others.
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