Peracetic Acid Global Market Report 2022: Rising Adoption of Peracetic Acid in Water Treatment Bolsters Growth

DUBLIN, April 17, 2023 /PRNewswire/ -- The "Peracetic Acid Market By Type, By Application, By End-Use, and By Region Forecast to 2030" report has been added to  ResearchAndMarkets.com's offering.

The Peracetic Acid (PAA) market has witnessed significant growth in recent years, with a market size of USD 878.3 Million in 2021 and a projected revenue CAGR of 7.8% during the forecast period.

The market's growth is driven by several factors, including the increasing adoption of peracetic acid in water treatment, the growing demand for sterilizing surgical instruments, and the rising hygiene awareness among people.

Furthermore, peracetic acid is widely used in various industrial settings, including pharmaceutical and food industries, manufacturing, healthcare, and water treatment. It is commonly used in the manufacture of pharmaceutical chemical intermediates and is available in stabilized solutions containing acetic acid, hydrogen peroxide, and water.

To meet the rising demand for peracetic acid in various sectors such as healthcare, water treatment, and Food & Beverage (F&B), manufacturers have introduced advanced products in the market. For instance, Enviro Tech Chemical Services, a specialty chemical manufacturer, recently introduced a dry peracetic acid-based sanitizer called PeraGuard.

This patented formulation is designed to increase environmental biosecurity and sanitation on surfaces where conditions are favorable for the growth of microorganisms. The product has been approved by the EPA for use in food and beverage facilities, as well as a variety of other manufacturing and processing environments. Additionally, PeraGuard can be used on farms to manage odors and ammonia.

Market Dynamics

Rising adoption of peracetic acid in water treatment

Peracetic acid has become increasingly popular in recent years for its use in disinfecting wastewater. Utility companies primarily use disinfectants to eliminate and destroy pathogenic microorganisms that spread waterborne diseases. Appropriate disinfectants are effective in treating disease-causing microbes, including bacteria, helminths, spores, and protozoa. PAA is typically available in concentrations ranging from 5% to 22%. When PAA breaks down in water, it produces free hydrogen peroxyl (HO2) and hydroxyl (OH) radicals, which have high oxidizing capacities and play a critical role in microbial disinfection.

Peracetic acid has experienced significant global growth in water treatment over the past few years due to its advantages over chlorine-based chemistries. These benefits include no production of trihalomethanes, less impact on wastewater quality, lower aquatic toxicity, and lower environmental impact. Wastewater recycling is a crucial strategy for addressing the global water crisis. In December 2019, the Erie County Division of Sewerage Management, PeroxyChem, and researchers from the University at Buffalo's Civil, Structural and Environmental Engineering Department collaborated to evaluate the use of peracetic acid as a more environmentally friendly method for wastewater disinfection and oxidation.

Health hazards related to peracetic acid

Peracetic acid is characterized by a strong pungent odor and has highly corrosive properties. Exposure to this chemical, whether short-term or long-term, can result in numerous hazards. In cases of short-term exposure, the chemical can be potentially harmful to the skin, eyes, and respiratory tract. In more severe instances, there is a risk of large-scale hazards such as explosions, fires, and reactivity issues.

The compound is also known to react violently with soft metals such as brass, copper, iron, and zinc. Consequently, the extent of damage caused by exposure to this compound represents a significant constraint on the revenue growth of the market.

Key Takeaways
Type Outlook

The global peracetic acid market has been segmented based on type, application, and end-use. In terms of type, the market is divided into solution grade and distilled grade, with the latter expected to account for the largest revenue share in the forecast period. Distilled peracetic acid is widely used in industrial applications such as the synthesis of epoxides, production of nylon, and creation of synthetic glycero. It is also commonly used as a disinfectant and cleaner in the food industry, medical equipment, and water purification.

Application Outlook

The market is segmented by application into sterilant, disinfectant, sanitizer, bleaching, and others. The disinfectant segment is expected to dominate the market due to the high demand for peracetic acid in water treatment, healthcare, and food & beverage industries. It is an effective disinfectant that can kill bacteria, yeasts, fungi, spores, and viruses in minutes, making it a popular choice for hospitals and food processing industries. The sanitizer segment is also expected to grow rapidly due to the COVID-19 pandemic and increased hygiene awareness.

End-Use Outlook

Based on end-use, the market is segmented into F&B, healthcare, agriculture, water treatment, pulp and paper, and others. The F&B industry is expected to account for the largest revenue share due to peracetic acid's ability to kill fungi, bacteria, yeasts, and pathogens. It is used as a sanitizer and disinfectant in many food and bottling plants to reduce microbial contamination. The healthcare segment is expected to register a steady revenue growth rate due to peracetic acid's effectiveness as a bactericide and fungicide in hospital environments. The need for quicker turnaround times for sterilizing medical devices has also led to the development of PAA liquid sterilization.

Regional Outlook

The European market holds the largest revenue share in the global peracetic acid market, with the UK, Germany, and France being the leading adopters of this chemical in industries such as water treatment, healthcare, and food and beverage. The food and beverage industry, in particular, is a major manufacturing sector in Europe, generating a revenue of around USD 1.25 trillion and employing 4.5 million people in 2021. The high demand for peracetic acid in this region is due to its effectiveness in controlling microbial contamination, which is a major concern in the food industry. Furthermore, peracetic acid is considered a substitute for halogenated disinfection chemicals by water treatment companies and is approved for use in biocidal products by the European Union.

In the Asia Pacific region, the market is expected to register a significantly fast compound annual growth rate (CAGR) over the forecast period due to growing industrialization, rising hygiene awareness, and increasing development of the food and beverage industry and water treatment solutions, especially in China, Japan, and India. China, for instance, invested USD 81.6 billion in its municipal wastewater system between 2015 and 2020, leading to the establishment of new water treatment facilities and a high demand for peracetic acid in the region.

In North America, the market is expected to register a steady CAGR over the forecast period due to the rapid demand for peracetic acid in the food and beverage and healthcare industries, particularly in the United States and Canada. The food spending in the U.S. by consumers, businesses, and government entities was USD 2.12 trillion in 2021, while the total health spending in Canada increased by 12.8% between 2019 and 2020. The outbreak of COVID-19 has also led to increased hygiene awareness and a high demand for peracetic acid in this region.

Key Topics Covered:

Chapter 1. Market Synopsis

Chapter 2. Executive Summary

Chapter 3. Indicative Metrics

Chapter 4. Peracetic Acid Market Segmentation & Impact Analysis

Chapter 5. Peracetic Acid Market By Type Insights & Trends

Chapter 6. Peracetic Acid Market By Application Insights & Trends

Chapter 7. Peracetic Acid Market By End-Use Insights & Trends

Chapter 8. Peracetic Acid Market Regional Outlook

Chapter 9. Competitive Landscape

Chapter 10. Company Profiles

Companies Mentioned

• Solvay
• Evonik
• Acuro Organics Limited
• Mitsubishi Gas Chemical Company Inc.
• Enviro Tech Chemical Services Inc.
• Seeler Industries Inc.
• Diversey Holdings LTD
• Kemira Oyj
• Ecolab Inc.
• Airedale Chemical Company Limited.

For more information about this report visit https://www.researchandmarkets.com/r/wk7w1j

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