by Peracetic acid, also known as peroxyacetic acid, is an antimicrobial agent and bleach used for sterilization, disinfection and bleaching applications. It is an effective broad-spectrum disinfectant used widely for food processing, healthcare, water treatment and other applications. Peracetic acid helps eliminate harmful microbes that cause foodborne illnesses and hospital-acquired infections. It is a safer alternative to chlorine for cleaning and sterilization purposes.
The Global Peracetic Acid Market is estimated to be valued at US$ 1,093.1 Mn in 2024 and is expected to exhibit a CAGR of 7.8% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Peracetic Acid market are Kemira Oyj, Solvay S.A., Promox S.p.A., Evonik Industries, Ecolab Inc., Thai Peroxide Limited, Mitsubishi Gas Chemical Company, Inc., PeroxyChem LLC, Diversey Inc., Aditya Birla Chemicals Ltd., Christeyns NV, Acuro Organics Limited, RX CHEMICALS, Swiss Chemi Pvt. Ltd, and Brainerd Chemical Company. Key players Kemira Oyj, Solvay S.A. and Ecolab Inc. collectively account for over 40% of the global market share.
The Peracetic Acid Market Demand and safe food products is fueling the demand for peracetic acid globally. Stringent food safety regulations enforced by government bodies have compelled food producers and processors to adopt advanced sterilization and disinfection techniques using peracetic acid. Furthermore, the increasing incidences of hospital acquired infections have boosted the demand for peracetic acid in the healthcare industry for sterilization of medical devices and disinfection of hospitals.
North America and Europe currently dominate the global peracetic acid market. However, the market is witnessing increased growth opportunities in Asia Pacific due to rising consumer health awareness and growing processed food industry in countries like China and India. Key market players are focusing on capacity expansions and acquiring local players in Asia Pacific to leverage growth opportunities in the fast developing regional market.
Market Key Trends
One of the Peracetic Acid Market Size And Trends shifting preference towards green chemicals from traditional chlorine-based sterilizing and bleaching agents. Peracetic acid poses lesser environmental and health hazards as compared to chlorine and hence, is widely favored by food processors and other end-use industries. Furthermore, peracetic acid when used as a sanitizer helps reduce water consumption during the cleaning process. Its ability to work effectively in cold water solutions helps lower energy costs for industries. Growing environmental awareness and implementation of more stringent regulations regarding use of hazardous chemicals are expected to further accentuate the demand for safer peracetic acid based products.
Porter’s Analysis
Threat of new entrants: Low economies of scale in production and high competition make it difficult for new players to enter the market.
Bargaining power of buyers: Large customers can negotiate lower prices, but large number of small buyers balances the bargaining power.
Bargaining power of suppliers: Presence of many suppliers limits their influence over prices as customer can easily switch to alternatives.
Threat of new substitutes: Potential for bio-based substitutes if viable commercial processes are developed but no immediate threat.
Competitive rivalry: Intense competition among major players to gain market share and keep prices low.
Geographical Regions
North America accounts for around 35-40% of the global peracetic acid market value due to extensive usage in food processing and disinfection applications. Stringent safety and hygiene regulations drive higher demand.
Asia Pacific is the fastest growing region for peracetic acid market led by China, India and other developing countries. Rapid industrialization and infrastructure growth and evolving disinfection and sanitation practices are increasing peracetic acid consumption across food, healthcare and water treatment sectors.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
