Global Peracetic Acid Market - 2023-2030

Market Overview

The global peracetic acid market reached US$ XX million in 2022 and is expected to record significant growth by reaching up to US$ XX million by 2030, growing at a CAGR of 7.90% during the forecast period (2023-2030).

Peracetic acid is a liquid substance that is extremely acidic. It's made with hydrogen peroxide and acetic acid. After ozone, it is regarded as one of the most effective agents. It is frequently utilized in sterilizing applications for equipment cleaning in various industries, particularly the food industry. Peroxyacetic acid is another name for it. It is a white liquid with a pungent odor similar to acetic acid. It has the potential to be quite acidic.

Peracetic acid is recorded in dairy and cheese facilities and food processing and pasteurization equipment in brewers, wineries and beverage plants. It is also used to disinfect medical supplies, prevent biofilm formation in the pulp industry and purify & disinfect water. Peracetic acid can be used to disinfect cooling tower water, avoiding the formation of biofilms and efficiently reducing Legionella bacteria. NuCidex is the brand name for peracetic acid as an antibacterial agent. It's also been used to sterilize discarded food washes.

Some laundry detergents produce peracetic acid topically. It is about the reaction of tetraacetylethylenediamine (TAED) with an alkaline hydrogen peroxide solution, which is a more effective bleach than hydrogen peroxide. It also occurs naturally in the environment due to photochemical reactions combining formaldehyde and photooxidative radicals. It is always offered as a solution combined with acetic acid and hydrogen peroxide to maintain stability. The acid's function as an active component can vary.

Market Dynamics

With rising demand from end-use industries, the worldwide peracetic acid market is expected to expand substantially in the coming years. The product development to meet the needs of specific applications in diverse sectors will be a critical factor in the peracetic acid market's growth over the next five years. The present market expansion is driven by demand in Asia-Pacific, manufacturing permission from environmental organizations and improved peracetic acid performance in various end-use applications.

The rising opportunities in Asia-Pacific

Peracetic acid's key end-use sectors in Asia-Pacific are food, pharmaceutical, pulp & paper and water treatment, which are expanding rapidly. Peracetic acid has been utilized in various industries since its inception and remains a significant market segment in the biocides business. It is widely used in food processing and packaging juices, milk, soft drinks and tea. Because of the rising healthcare industry, peracetic acid is employed in pharmaceutical, life sciences, hospitals and other sectors.

It has a higher oxidation potential than competing products and degrades residuals faster with fewer by-products. Due to the rising demand for medical products from the region's emerging countries, leading pharmaceutical corporations are constructing operations in Asia-Pacific. The pharmaceutical business is expanding rapidly in the region. As a result, demand in Asia-Pacific will be a major driver of growth in the worldwide peracetic acid market during the next five years.

Rising advantages of peracetic acid over other biocides

Disinfectants, sanitizers, chemical sterilants and other biocide compounds are critical in preventing microbiological development. Peracetic acid is a useful chemical commonly used as an environmentally friendly alternative to chlorine in wastewater treatment. It is an excellent substitute for chlorine as a bleach and disinfectant.

Because of its performance advantages over other biocides, peracetic acid is one of the most innovative advancements in the biocide sector. Peracetic acid's product awareness and positive attributes (extended shelf life, optimum performance, safe by-products and gradual thermal degradation) entice end-users to use it in various applications. The rising demand for peracetic acid in various applications propels the market across various end-use industries.

Lack of awareness

The main impediment to the peracetic acid market is a lack of product awareness. Consumers must be more knowledgeable about the product's benefits in many applications. Furthermore, peracetic acid is more expensive than its alternatives, including hydrogen peroxide, chlorine, sodium hypochlorite and calcium hypochlorite. It is limiting market expansion.

COVID-19 Impact Analysis

The global epidemic has impacted almost every sector of the planet. Government agencies have announced special financial assistance for developing preventive & curative pharmaceuticals, procuring critical care medical devices and expediting approval of diagnostic tests. Various organizations worldwide, including the Bill and Melinda Gates Foundation (BMGF) and the Wellcome Trust, are also banding together to speed up and enhance efforts to combat the COVID-19 epidemic.

The pandemic has affected healthcare systems worldwide, with hospitals becoming overcrowded as the number of patients increases. Temporary hospitals are also being established to deal with the rising disease incidence. As a result of the increased awareness about cleanliness, health and safety, the proliferation of COVID-19 has resulted in a boom in demand for cleaning and disinfection solutions. Increasing healthcare spending across all nations and growth in temporary hospitals are some primary drivers boosting demand for and adoption of peracetic acid products.

Segment Analysis

By application, the peracetic acid market is segmented into disinfectants, sterilant, sanitizer and others.

The ability to destroy harmful bacteria and viruses

Peracetic acid is a widely used biocidal disinfectant in a variety of sectors. Peracetic acid can kill and control pathogenic bacteria, viruses, spores and fungi. Peracetic acid is a potent oxidant and a fast-acting antibacterial that penetrates cell membranes, irreversibly altering the enzyme system and killing pathogenic microorganisms. The antibacterial qualities of PAA make it a popular and dependable biocidal disinfectant in agricultural, food and pharmaceutical contexts, as well as in the home. Peracetic acid (PAA) is an antibacterial frequently utilized in the food and protein sectors. It is used in water treatment, among many other industrial applications, to inhibit biofilm formation and pathogenic growth.

Furthermore, peracetic acid has an environmental advantage because it is effective at low temperatures and contains no chlorine. It simply degrades into environmentally safe components after usage. It serves as an effective substitute for traditional chemicals used for disinfection and cleaning, increasing market demand. It's also used to sterilize medical supplies, reduce biofilm growth in pulp mills and act as a water purifier and disinfectant. COVID-19 has increased the demand for surface disinfection in public areas, hospitality buildings, transportation and cleaning in place (CIP) in the food & beverage business.

Geographical Analysis

The growing demand from various end-use industries in Asia-Pacific

Asia-Pacific is expected to dominate the peracetic acid market during the projected period. The market for PAA in countries such as China, India and Japan has been expanding due to increased demand from various end-user sectors such as pharmaceutical, food & beverage and chemical. PAA is also utilized in wastewater treatment to facilitate the oxidative breakdown of hazardous compounds and chemicals. As a result, there is a rise in demand for PAA for water treatment applications.

China is the leading economy in Asia-Pacific in terms of GDP. China is one of the world's fastest-growing economies and practically all end-user industries have expanded due to increased population, living standards and per capita income. China is a chemical processing powerhouse, accounting for a significant portion of worldwide chemical production. With rising global demand for various chemicals, demand for hydrogen peroxide from this industry is expected to rise throughout the predicted period.

The wastewater treatment industry in China essentially covers influent treatment, sewage treatment, water recycling and enterprises are spending more to treat industrial wastewater. As per the National Bureau of Statistics of China, China invested in industrial wastewater treatment in 2019. According to U.S. International Trade Commission research, by 2035, China and India will utilize the most water in municipal, domestic, industrial and agricultural consumption, boosting the demand for PPA in wastewater treatment.

Competitive Landscape

The primary strategies adopted by the key players in the Peroxyacetic Acid Market include introducing new sophisticated technologies, R&D efforts and acquisitions. Effective methods include mergers, joint ventures, new launches and R&D to increase market growth.

Enviro Tech Chemical Services, Inc., a Modesto, California-based firm, announced a licensing deal with PeroxyChem in May 2021. The license agreement grants the firm the right to use its U.S. Patent No. 10,912,321. The licensing agreement permits PeroxyChem and its partners to use the process described in the '321 invention throughout the country without violating the patent conditions. The '321 patent covers incursion approaches that use peracetic acid at an alkaline pH in a chill tank in a poultry processing system, often known as a reservoir.

Major global peracetic acid market companies include Acuro Organics Limited, Aditya Birla Chemicals, Airedale Chemical, Belinka Perkemija, BioSafe Systems, LLC, Diversey, Inc, Enviro Tech Chemical Services, Inc., Evonik Industries AG, Hydrite Chemical and PeroxyChem.

Enviro Tech Chemical Services, Inc.

Overview: Enviro Tech Chemical Services, Inc. was founded in 1991 to primarily serve the food processing industry. The emphasis immediately turned to discovering and manufacturing novel EPA and FDA-approved chemistries, particularly safe yet effective antibacterial compositions. Enviro Tech Chemical Services, Inc. is now one of the world's major makers of peracetic acid and bromine-based biocides. Enviro Tech manufactures EPA and FDA-approved products for various industries, including industrial water treatment, meat and poultry processing, agriculture, oil & gas, wastewater treatment and others.

Enviro Tech owns 41 EPA registrations, 15 FDA Food Contact Notifications and 14 U.S. patents. Manufacturing facilities are located in Modesto, CA and Helena, AR, with a total manufacturing space of 270,000 square feet. In Levelland, TX, a new 75,000-square-foot chemical production complex is nearing completion. Enviro Tech has warehouses and sales offices in Mexico and Chile as well.

Product Portfolio: Because of its high oxidizing potential, peracetic acid is an excellent antibacterial agent. It is quite powerful against a wide variety of bacteria. It offers a wide range of peracetic acid products, including Bioside HS 15% for the oil and gas industry and cooling towers. Perafoam, Peragreen 5.6 percent, Peragreen 15%, Peragreen® 22 Concentrated PAA Microbiocide for Agricultural Applications, Peragreen WW is Enviro Tech's Peracetic Acid formulation for Wastewater Disinfection, PeraGuard® Floor, Drain and Equipment Dry PAA Sanitizer EPA registered for food & beverage use and many others are provided.

Key Development: Arxada AG, a global leader in specialty chemicals, announced the completion of its acquisition of Enviro Tech Chemical Services, Inc. on December 22, 2021. Arxada, formerly known as Lonza Specialty Ingredients (LSI), has made its second strategic acquisition in its first six months as an independent firm. Private equity firms Bain Capital and Cinven hold Arxada.

Enviro Tech Chemical Services (ETCS) debuted the world's first and only dry peracetic acid (PAA) floor and equipment sanitizer in September 2021. Petagaurd, a patented design, is being developed to improve environmental biosecurity and hygiene on surfaces susceptible to microbe development. The product is EPA-approved for use in food & beverage facilities, as well as a variety of other manufacturing and processing situations.

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• Visualize the composition of the peracetic acid market segmentation by application, end-user and region, highlighting the critical commercial assets and players.
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The global peracetic acid market report would provide access to an approx. 53 market data table, 42 figures and 200 pages.

Target Audience 2022

• Peracetic Acid Service Providers/ Buyers
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Emerging Companies
• Peracetic Acid Manufacturers