According to a new market research report published by Credence Research “Peracetic Acid Market(Food and Beverages, Pulp and Paper, Water Treatment, Healthcare and Other) – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022” the global peracetic acid market was valued at US$ 374.00 Mn in 2014 and is estimated to expand with a CAGR of 7.1% from 2015 to 2022. In terms of volume in 2014 the global market for peracetic acid was 220.0 kilo tons and is projected to reach 312.3 kilo tons by 2022 growing at a CAGR of 5.0% from 2015 to 2022.
Peracetic acid is an organic compound used in various end use industries such as food and beverages, pulp and paper, water treatment, healthcare and others. By the U.S. Environmental Protection Agency, peracetic acid formulations are listed for use as a disinfectant, sterilant and sanitizer and as an antimicrobial agent by the U.S. Food and Drug Administration (FDA).Therefore it is widely used in food and beverage industry as a disinfectant and a cleanser. Currently, peracetic acid is applied to prevent bio film formation in pulp industries and a disinfection of medical supplies.
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Peracetic acid is a versatile oxidizing agent and dissolves easily in water and decomposes into non-toxic by-products. Therefore, it is gaining momentum in water treatment for its ability to reduce disinfection by products, and dissolved salts in treated water. It is been used as a water treatment disinfectant in most of the western region and recently getting attention from the other markets.
However, due to lack of knowledge about the product and high cost associated with it is hampering the peracetic acid market growth. Further, product enhancement and R&D can established many potential alternative applications of peracetic acid in various industries. Peracetic acid market will also witness growth due to acceptance for usage of peracetic acid in countries such as China, Brazil and India.
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Mitsubishi Gas Chemical, Ecolab, Kemira Ojy, Solvay AG, and Evonik Industries AG are some of the prominent players and hold a significant share of the market. To enhance their market share players needs to incorporate in different market strategies such as diversified product portfolio, entering into a new market, strategic partnership among others. Some of the other players present in this market are Enviro Tech Chemical Services Inc., Belinka Perkemija, Airedale Chemical, Christeyns and Aditya Birla Chemicals among others.
- Peracetic acid systems suitable for wide range of applications
- Focus on enhancing the different end use of peracetic acid
- Gaining momentum in water treatment end use