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Global Peroxybenzoic Acid Market was Valued at US$ XX Mn in 2019 and it is Expected to Reach More than US$ XX Mn by 2028, Likely to Grow with the CAGR of 5.0% During the Forecast Period.
The Peroxybenzoic acid is an organic compound that is derived from benzoic acid and hydrogen peroxide. The chemical is utilized in the manufacturing of epoxides. The compound has antimicrobial properties by which its market demand is found high in the manufacturing of disinfectants and sanitizers. In the contemporary world the prominence of disinfectants is observed to be high due to the wide spread of infectious diseases because of which the demand for Peroxybenzoic acid had increased in the recent times. The market of Peroxybenzoic acid exhibits lucrative opportunities globally because of such trends. Its applications are observed in the sanitizing offerings in order to eliminate any kind of infectious disease spread. An increase in the awareness among the customers regarding the hygiene and sanitization had contributed in the demand of Peroxybenzoic acid. Such demand from the customers globally urged the manufacturers in offering disinfectants that has an ingredient of Peroxybenzoic acid in eliminating microbes.
Rising Demand for Disinfectants is anticipated to drive the demand for Peroxybenzoic Acid
The market growth of Peroxybenzoic Acid demand is attributed to the increased demand for the disinfecting agents. Chemical industry is also growing rapidly that substantiates the market potential of Peroxybenzoic Acid. The companies offering disinfectants are also extensively collaborating with chemical manufacturing companies in order to get benefits from such associations.
Disinfectants Segment held prominent share in Global Peroxybenzoic Acid Market in 2018
The global market for disinfectants is on the rise parallel to spread of infectious diseases that are propelling the market demand for Peroxybenzoic acid. An increased amount of demand for the sanitizers by the industries as well as individual customers in order to maintain hygiene is propelling the market growth of Peroxybenzoic Acid. The governments are also supporting the chemical manufacturing organizations which have contributed to the market demand for Peroxybenzoic Acid in the global market. It was observed that the Peroxybenzoic acid was significantly effective against organisms on various surfaces.
The Asia-Pacific Region Is Projected to Register a Highest Growth in the Peroxybenzoic Acid Market during the Forecast Period
The Peroxybenzoic Acid market is huge in China in the Asia Pacific region. A rise of power and chemical manufacturing industries are anticipated to be the key factors to propel the market for Peroxybenzoic acid in the Asia Pacific region. Increasing demand of sanitizers in the recent years especially in China is a contributing factor for growth of Peroxybenzoic acid in this region. The region is densely populated that is supporting the demand of this chemical for sanitizing and hygienic conditions. Several government policies are in favouring the chemical manufacturing industries that had substantially supported the market of Peroxybenzoic acid.
Global Peroxybenzoic Acid market is fragmented among the number of local and global players. The manufacturers are adopting strategies of expanding the market presence such as market diversification to enhance their competency in the global market.
Key players operating in the global Peroxybenzoic Acid market are Novaphene, HuangshiTaihua Industry, Emerald Kalama, Sinteza S.A., Chemcrux Enterprises Ltd, Wuhan Youji Industries, Fushimi, San Fu, Shri Hari Chemicals, Huayin Jinqiancheng, and Nantong Haiers.
Global Peroxybenzoic Acid Market Key Segments:
Global Peroxybenzoic Acid Market, By Applications
- Chemicals Industry
- Food and Beverage
- Pharmaceuticals Industry
Global Peroxybenzoic Acid Market, By Region
- North America
- Asia Pacific
- Middle east and Africa
- Latin America