New York, NY, Jan. 04, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Peracetic Acid Market by Type (Disinfectant, Sterilant, Sanitizer, and Others), and by Application (Healthcare, Water Treatment, Food Industry, Pulp & Paper, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024”. According to the report, the global peracetic acid market was valued at USD 614 million in 2017 and is expected to reach USD 1,066 million by 2024, at a CAGR of 8.2% between 2018 and 2024.
Peracetic acid is an organic compound used in several applications, such as food industry, healthcare, water treatment, pulp, and paper, etc. It is highly soluble in water and does not produce any environmentally or health-hazardous by-products. Moreover, owing to its strong oxidizing properties, it is widely used in the paper and pulp industry. Peracetic acid is a versatile and environmentally safe anti-microbial agent and powerful antioxidant.
Browse through 71 Tables & 37 Figures spread over 110 Pages and in-depth TOC on “Global Peracetic Acid Market: By Type, Size, Industry Share, Demand, Growth, Analysis and Forecast 2017 – 2024”.
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The peracetic acid market is likely to grow at a fast rate in the years ahead, owing to the increasing demand for an anti-microbial agent in the food processing and beverage industry. Due to the strong oxidizing properties of peracetic acid, it is extensively used in the pulp and paper industry. This, in turn, is projected to drive the peracetic acid market globally in the future. In addition, it is also used as a biocide in the agricultural and horticultural industries. Moreover, increasing demand for an anti-microbial agent in the food industry is expected to spur the peracetic acid market growth in the upcoming years. Furthermore, the growing popularity of bio-based chemicals and technological advancements related to manufacturing processes are anticipated to offer new growth opportunities for the players operating in the peracetic acid market in the forthcoming years.
The peracetic acid market is bifurcated into type and application. By type, the market includes disinfectant, sterilant, sanitizer, and others. In 2017, disinfectants held the largest share of the global peracetic acid market. The increasing use of peracetic acid-based disinfectants in several industries is projected to drive the disinfectants’ dominance over the forecast time period as well. By application, this market is segmented into healthcare, water treatment, food industry, pulp and paper, and others. Water treatment is likely to dominate the market in the future, due to stringent government regulations for safeguarding marine life.
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In 2017, Europe dominated the global peracetic acid market, followed by North America. In Europe, peracetic acid is widely used for disinfection, clarification, and purification of salty water and wastewater. Several industries, such as food and beverage, chemical processing, pulp, and paper, etc., have increased their use of disinfectants. In addition, the region’s flourishing healthcare industry has triggered the use of peracetic acid for manufacturing sterilants, sanitizers, etc. These factors are expected to boost the region’s peracetic acid in the years ahead.
The Asia Pacific is expected to be the fastest growing regional market in the upcoming years. In 2017, China contributed significantly to the regional market share owing to its expanding pulp and paper industry. Moreover, the region’s developing food industry is fuelling the demand for food processing activities, which is likely to boost the use of peracetic acid as a cleaner and disinfectant. Additionally, the rising awareness about the pollution-free environment and the increasing usage of sanitizers and disinfectants are anticipated to propel the region’s peracetic acid market in the upcoming years.
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The North American peracetic acid market has grown significantly in the past few years, owing to the increasing application of peracetic acid in various industries. In 2017, the U.S. held the largest market share, followed by Canada, and is expected to sustain its growth with the increasing use of sanitizers. The regional demand for peracetic acid is likely to increase in the future, due to its extensive application in manufacturing sanitizers, disinfectants, polymerization catalysts, industrial reagents, sterilant, oxidizer, bleach, etc.
The Latin American and the Middle Eastern and African markets are likely to grow moderately in the years ahead. The increasing consumption of frozen meat and rising usage of disinfectants are projected to boost the peracetic acid market during the estimated timeframe. The growing use of peracetic acid in various industries, such as food and beverages, healthcare, and water treatment, is expected to drive the peracetic acid market in these regions.
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Some key manufacturers of the peracetic acid market are Solvay Chemicals, Loeffler Chemical Corporation, Mitsubishi Motors Corporation, Hydrite Chemical Company, Evonik Industries AG, PeroxyChem LLC, Airedale Chemical Company Ltd., Kemira Chemicals, Ecolab Inc., SEITZ, Enviro Tech Chemical Services, Inc., and Aditya Birla Chemicals, among others.
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The report segments the global peracetic acid market into:
Global Peracetic Acid Market: Type Analysis
- Disinfectant
- Sterilant
- Sanitizer
- Others
Global Peracetic Acid Market: Application Analysis
- Healthcare
- Water Treatment
- Food Industry
- Pulp and Paper
- Others
Global Peracetic Acid Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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