The Peracetic Acid is a chemical product belonging to the peroxide compounds. It is highly appreciated for its antimicrobial properties and it mostly acts as a disinfectant in many industrial sectors such as medical and health care sectors, food industries, beverages, breweries, wineries, sewage treatment plants cooling towers, etc. The need for improving and protecting public health is fueling the Peracetic acid market growth during the forecast periodAccording to AMA, the market for Peracetic Acid is expected to register a CAGR of 8.19% during the forecast period to 2024. This growth is primarily driven by Increasing Demand from End-Use Industries Such As Healthcare, Food & Beverages, Water Treatment and Others and Strict Regulations by Water Treatment Authorities Are Leading To the Demand for Peracetic Acid.
Globally, a noticeable market trend is evident Aids of Peracetic Acid over Other Alternative Biocides. The Chemicals sector in the Asia Pacific region has been increasing at a strong rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Solvay (Belgium), Evonik (Germany), PeroxyChem (United States), Ecolab (United States), Enviro Tech Chemical Services (United States), Airedale Chemical (United Kingdom), Kemira (Finland), Mitsubishi Gas Chemical Company (Japan) and FMC Corporation (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On Nov 8, 2018, Evonik Industries AG announced the acquisition of US-based PeroxyChem. PeroxyChem is a manufacturer of hydrogen peroxide (H2O2) and peracetic acid (PAA) and is well positioned in high-margin specialty applications
Peracetic acid (PAA) is now allowed under the National Organic Program (NOP) regulations for use in organic crop production, organic livestock production, and in organic food handling
- Increasing Demand from End-Use Industries Such As Healthcare, Food & Beverages, Water Treatment and Others
- Strict Regulations by Water Treatment Authorities Are Leading To the Demand for Peracetic Acid
- Aids of Peracetic Acid over Other Alternative Biocides
- Lack of Awareness of the Peracetic Acid
- High Cost of Peracetic Acid
High Demand from Asia Pacific Region and Potential Applications across Numerous Industries
Highly Sensitive Product
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