Peracetic Acid Market Size
| Study Period | 2019-2029 |
| Market Volume (2024) | 0.36 Million tons |
| Market Volume (2029) | 0.48 Million tons |
| CAGR (2024 - 2029) | 5.71 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Peracetic Acid Market Analysis
The Peracetic Acid Market size is estimated at 0.36 Million tons in 2024, and is expected to reach 0.48 Million tons by 2029, growing at a CAGR of 5.71% during the forecast period (2024-2029).
The COVID-19 pandemic negatively impacted the market. This was because of the shutdown of the manufacturing facilities and plants due to the lockdown and restrictions. Supply chain and transportation disruptions further created hindrances for the market. However, the industry witnessed a recovery in 2021, thus rebounding the demand for the market studied.
- Over the short term, growing demand from the water treatment industry and increasing usage as a disinfectant across various industries are some of the factors driving the growth of the market studied.
- On the flip side, high costs and adverse effects on health are expected to hinder the growth of the market.
- However, the increase in peracetic acid use in aseptic packaging is expected to act as an opportunity for the market.
- The Asia-Pacific region dominated the market worldwide, with countries like China, India, and Japan being the biggest consumers.
Peracetic Acid Market Trends
Disinfectant Application to Dominate the Market
- Peracetic acid (PAA) is used as a disinfectant and cleanser in the food industry, in water treatment, and to prevent biofilm formation in the pulp industries.
- To maintain hygiene standards, peracetic acid is used as it is a broad-spectrum biocide and can be used in many industrial fields. It is effective against all types of microorganisms like bacteria, fungi, spores, and viruses, even at low concentrations and temperatures.
- Its capability to penetrate through the cell membrane helps it impart excellent and rapid antimicrobial effects. When PAA enters the cell, it irreversibly disrupts the enzyme system, which leads to microorganism destruction.
- PAA is used to disinfect food and beverage products. For instance, according to the US Census Bureau, in 2022, annual sales of retail food and beverage stores in the United States amounted to approximately USD 947 billion, which showed an increase of 7.65% compared with 2021. Therefore, an increase in the sales of food and beverage products is expected to create an upside demand for peracetic acid.
- PAA is applied to disinfect equipment, surfaces, tanks, pipes, and plastic bottles to protect the inside material from microorganism attacks along the production chain. It is also used to disinfect water treatment in textiles and medical devices.
- Another important use of peracetic acid as a disinfectant is in ballast water treatment. Ballast water is used to control ship trim, list, draught, stability, or stresses, and billions of tons of ballast water are discharged by ships every year. The International Maritime Organization requires ships to discharge ballast water only within specific discharge standards. To meet these standards, peracetic acid can be used in ballast water.
- In the animal health industry, PAA is used to disinfect surfaces to avoid livestock diseases. It is sprayed by mechanical sprayers or pressure washers to sanitize the system and eliminate the growth of baPAA is majorly used as a disinfectant in the food and beverage and water treatment industry. A rapidly growing population and greater urbanization globally have boosted processed food demand. More than 70% of food in developed countries is processed food. These products are generally packed in plastic containers which need disinfection. This is likely to boost disinfectants like PAA demand from the food and beverage industry.
- Further, several countries have made their wastewater treatment rules and regulations more stringent to meet the sustainable development goal and protect the environment. In North America, under the effluent guidelines, the Environmental Protection Agency (EPA) develops national standards for wastewater discharge. These standards are incorporated into the National Pollutant Discharge Elimination System (NPDES).
- In the European Union, it is mandatory for all member countries to follow the wastewater treatment directive mentioned in The Council Directive 91/271/EEC for urban wastewater treatment. If countries fail to comply with these regulations, they can receive court action and fines.
- Hence, the aforementioned factors are likely to increase disinfectant demand from various industries during the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the market for peracetic acid during the forecast period. In countries like China, India, and Japan, the demand for peracetic acid increased due to the increasing demand from the pharmaceutical, food, beverage, and chemical industries.
- In the Asia-Pacific region, China is the largest economy in terms of GDP. China's real GDP grew by 8.4% in 2021, primarily driven by consumer spending rebound post-pandemic. Furthermore, in 2022, as per the International Monetary Fund (IMF), the country's GDP is accounted to grow by 3.0%, whereas, in 2023, the IMF has forecasted that the GDP will grow by about 5.2%.
- In the food and beverage industry, peracetic acid is used as a food processing aid for antimicrobial intervention without adding odors, colors, or flavors to the end product. It is also used to sanitize and disinfect animal facilities.
- China is one of the largest consumers of food and beverages, with the food processing industry continuing to expand in view of the growing population and rising demand for healthy and tasty packaged foods. Some of the popular food products in the country include bakery products, beverages, and other nutritious food items, among others. For instance, according to the data from the Ministry of Industry and Information Technology, the country witnessed its beverage production increase 6 percent year-on-year, reaching 44.35 million tons during Q1 2023.
- Furthermore, according to the China National Light Industry Council, major food manufacturing companies with an annual turnover of over USD 2.8 million reported revenues of over USD 1.53 trillion in 2022. Compared to 2021, the total revenue registered a year-on-year growth of 5.6 percent, indicating strong growth in the food industry.
- According to Indian Paper Manufacturers Association (IPMA), exports of paper and paperboard from India jumped to around 80% in 2021-22, touching a record value of INR 13,963 crore (~USD 1,692.17 million). In addition, as per the report of the Pulp & Paper Research Institute (CPPRI), there are about 861 paper mills in India, out of which 526 are operational, with a total installed capacity of over 25 million tons in 2020-21. Thus, the demand for peracetic acid is expected to be high in the country during the forecast period.
- The Japanese food processing industry produces a wide range of foods, from traditional to processed food, for infants and elderly people. The food processing industry in the country is estimated to grow in the coming years, owing to the higher consumption of food and beverage products. The food and beverage industry in the country is driven by the rising demand for packaged food.
- Japan is the third-largest package food market in the world after the United States and China. According to Euromonitor, it is estimated that by 2025, the retail sales in the packaged food market in Japan are expected to reach USD 204.5 billion, a growth of 3.6% or USD 7 billion. This growth is attributed to the increase in the demand for the market studied.
- All such factors are likely to increase the demand for peracetic acid, which as a result, leads to its market growth over the forecasting period.
Peracetic Acid Industry Overview
The peracetic acid market is partially consolidated in nature. The major players in this market (not in any particular order) include Solvay, Evonik Industries AG, Ecolab, Kemira, and Mitsubisho Gas Chemical Company Inc., among others.
Peracetic Acid Market Leaders
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Evonik Industries AG
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MITSUBISHI GAS CHEMICAL COMPANY INC.
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Ecolab
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Solvay
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Kemira
*Disclaimer: Major Players sorted in no particular order
Peracetic Acid Market News
- May 2023: Evonik Industries AG received registration from the U.S. Environmental Protection Agency (EPA) and launched EPA-registered VIGOROX, a peracetic product, as a trident for water quality control in aquaculture. This innovative product has enabled the company to strengthen its product portfolio.
- December 2022: Christeyns introduced Rapid-O, a total concept that includes an ozone generator and specific chemicals mixed in a wash procedure. As a part of this innovation, they launched Peracid Forte, a product based on a peracetic acid-based bleaching agent with antibacterial, antifungal, and antiviral hygienic properties.
- April 2022: Evonik's Active Oxygens business division unveiled a new sustainability approach for its hydrogen peroxide (H2O2), peracetic acid, and persulfates. This approach includes initiatives to reduce carbon emissions and enhance resource efficiency in production, with the goal of achieving climate neutrality across the business line by 2040.
Peracetic Acid Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Demand From Water Treatment Industry
4.1.2 Increasing Usage as A Disinfectant Across Various Industries
4.2 Restraints
4.2.1 High Cost and Adverse Effect on Health
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Volume)
5.1 Application
5.1.1 Disinfectant
5.1.2 Oxidizer
5.1.3 Sterilant
5.1.4 Other Applications
5.2 End-user Industry
5.2.1 Food and Beverage
5.2.2 Water Treatment
5.2.3 Pulp and Paper
5.2.4 Healthcare (incl. Pharmaceutical)
5.2.5 Chemical
5.2.6 Other End-user Industries
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Mexico
5.3.2.3 Canada
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 Italy
5.3.3.4 France
5.3.3.5 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 ACURO ORGANICS LIMITED
6.4.2 Aditya Birla Chemicals
6.4.3 Airedale Chemical Company Limited
6.4.4 Biosan
6.4.5 Christeyns
6.4.6 Diversey, Inc
6.4.7 Ecolab
6.4.8 Enviro Tech Chemical Services Inc. (arxada Ag)
6.4.9 Evonik Industries AG
6.4.10 Hydrite Chemical
6.4.11 Kemira
6.4.12 MITSUBISHI GAS CHEMICAL COMPANY, INC.
6.4.13 Solvay
6.4.14 Stockmeier Group
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Usage In Aseptic Packaging Applications
Peracetic Acid Industry Segmentation
Peracetic acid, also known as peroxyacetic acid, is an organic compound that is a colorless liquid with a characteristic acrid odor similar to that of acetic acid. It is mainly used as a cleanser and disinfectant for its biocidal properties in various end-user industries.
The peracetic acid market is segmented based on application, end-user industry, and geography. By application, the market is segmented into disinfectants, oxidizers, sterilants, and others. By end-user industry, the market is segmented into food and beverage, wastewater treatment, pulp and paper, healthcare, chemical, and other end-user industries. The report offers market size and forecasts for 15 countries across major regions.
For each segment, market sizing and forecasts have been done on the basis of volume (Tons) for all the above segments.
| Application | |
| Disinfectant | |
| Oxidizer | |
| Sterilant | |
| Other Applications |
| End-user Industry | |
| Food and Beverage | |
| Water Treatment | |
| Pulp and Paper | |
| Healthcare (incl. Pharmaceutical) | |
| Chemical | |
| Other End-user Industries |
| Geography | |||||||
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Peracetic Acid Market Research FAQs
How big is the Peracetic Acid Market?
The Peracetic Acid Market size is expected to reach 0.36 million tons in 2024 and grow at a CAGR of 5.71% to reach 0.48 million tons by 2029.
What is the current Peracetic Acid Market size?
In 2024, the Peracetic Acid Market size is expected to reach 0.36 million tons.
Who are the key players in Peracetic Acid Market?
Evonik Industries AG, MITSUBISHI GAS CHEMICAL COMPANY INC., Ecolab, Solvay and Kemira are the major companies operating in the Peracetic Acid Market.
Which is the fastest growing region in Peracetic Acid Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Peracetic Acid Market?
In 2024, the Asia-Pacific accounts for the largest market share in Peracetic Acid Market.
What years does this Peracetic Acid Market cover, and what was the market size in 2023?
In 2023, the Peracetic Acid Market size was estimated at 0.34 million tons. The report covers the Peracetic Acid Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Peracetic Acid Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Peracetic Acid Industry Report
Statistics for the 2024 Peracetic Acid market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Peracetic Acid analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
