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Peracetic Acid Market Revenue Size, Trends and Factors, Regional Share Analysis & Forecast Till 2028

Reports And Data

Reports And Data

The global Peracetic Acid market was valued at USD 815.1 Million in 2020 and is expected to reach USD 1.48 Billion by year 2028, at a CAGR of 7.80%.

NEW YORK CITY, NY, UNITED STATES, October 15, 2021 /EINPresswire.com/ -- Global research report called Peracetic Acid market was recently published by Reports and Data to provide guidance for business. The report also focuses on global major leading industry players of Peracetic Acid market providing information such as company profiles, product picture and specification, price, capacity, cost, production, revenue and contact information. The study covers the genre of chemicals and materials with special focus on the Peracetic Acid market. Peracetic acid (CH3CO3H), also known as Peroxyacetic acid (PAA), is an organic compound used for antimicrobial purposes. It is a colourless liquid with the specific acrid odour indicative of acetic acid. The compound is a combination of two versatile compounds namely, Hydrogen Peroxide and Acetic acid. It is manufactured industrially by autoxidation of acetaldehyde. This compound is formed upon the treatment of acetic acid with hydrogen peroxide and a strong acid catalyst. The rapid growth in the population, changing lifestyles and eating habits of consumers are said to be the triggering factors for the industries, especially for the developed and developing countries. The versatility of application has been the main factor propelling the market. The rising concerns for safety and improving health of the people has been one of the driving factors in the market. However, high costs and insufficient awareness among the people have been the main restraining factors.

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Companies considered and profiled in this market study:
BioSafe Systems, Peroxy Chem, Airedale Chemical, Evonik, Aditya Birla Chemicals, FMC Corp. and Solvay S.A

Further key findings from the report suggest
North America and Europe dominate the market due to the technologically advancements and the continuous research and development in this field. In addition to these factors another factor contributing to the growth of these regions is the widespread awareness about food safety and improving health.

North America is expected to grow at a CAGR of 8.3% while Europe is expected to register a CAGR of 8.2%.

Asia Pacific is expected to grow at a CAGR of 9.4%. Emerging economies such as China have become a major hub for manufacturers due to the abundance of resources and availability of labor.

Corporate working hours and increasing female working population is propelling the packaged food demand globally thus, making use of Peracetic acid for packaging of utmost importance. The demand has furthermore increased due to an increase in the demand for frozen foods.

Food and beverage industry holds the largest share of the market and is expected to continue to register the highest CAGR in the forecast period due to the rising awareness about food safety and sanitary practices.

Bactericide and fungicides are seen to be the fastest growing type of application. They are expected to register a CAGR of 8.8%. Use of PAA for bleaching purposes is also gaining popularity in the paper and pulp industry.

Use of Peracetic Acids in water treatment has also gained demand in the past few years. The market is expected to grow at a CAGR of 8.1%.

A large number of hazards can be caused if there is any short term or long term exposure to the compound. For instance, in case of short term exposure to the acid, the chemical can be corrosive to the eyes, skin and respiratory tract. These hazards pose to be one of the major restraining factors. Other restraining factors include, high costs and lack of awareness in several countries.

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For the purpose of this report, Reports and Data has segmented the Peracetic Acid market on the basis of type, application, end use and region:
Application (Revenue, USD Million; 2020–2028)

Bactericide and fungicide

Bleaching agent

Sterilizing agent

Polymerization catalyst

Sanitizing agent

Type (Revenue, USD Million; 2016-2028)

Solution Grade

Distilled Grade

End Use (Revenue, USD Million; 2020–2028)

Food and Beverage:

Fresh produce

Dairy

Breweries

Wineries

Meat, Poultry and Seafood

Agriculture

Water Treatment

Medical and Healthcare

Paper and Pulp

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Regional Outlook (Revenue in USD Million; 2020–2028)

North America

Europe

Asia Pacific

Middle East & Africa

Latin America

Explore Reports and Data’s Prime Analysis of the global Materials and Chemicals Industry:

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About Reports and Data
RND is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy.

Tushar Rajput
Reports and Data
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