Global Peracetic Acid Market Size, Share, Growth Analysis, By Product(Disinfectant, Sanitizer), By End User(Healthcare industry, Water treatment industry) - Industry Forecast 2024-2031

Global Peracetic Acid Market size was valued at USD 860.95 million in 2022 and is poised to grow from USD 941.02 million in 2023 to USD 1916.72 million by 2031, growing at a CAGR of 9.3% during the forecast period (2024-2031).

Dairy and cheese plants, food processing machinery, and pasteurization equipment in wineries, breweries, and beverage plants all employ peracetic acid. In addition, it serves as a disinfectant and water purifier, stops biofilm formation in the pulp sector, and cleans medical supplies. As a cooling tower water disinfectant, peracetic acid works well to stop the growth of biofilms and manage Legionella bacteria. Certain laundry detergents were made with peracetic acid. When alkaline hydrogen peroxide solution is added to tetraacetylethylenediamine (TAED), detergents are produced that are more effective than hydrogen peroxide. Additionally, it is formed by photochemical interactions between formaldehyde and photooxidative radicals that occur naturally in the environment. To ensure stability, it is always marketed as a solution including hydrogen peroxide and acetic acid.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Peracetic Acid Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the Market size includes the following details: The key players in the Market were identified through secondary research, and their Market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top Market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Peracetic Acid Market Segmental Analysis

Global peracetic acid market is segmented on the basis of product, end user and region. On the basis of product, global market is segmented into, disinfectant, oxidizer and sterilant. On the basis of application, global market is segmented into healthcare industry, water treatment industry, food industry, pulp & paper industry, breweries, laundry, wineries, chemical processing, and agricultural. On the basis of region, global market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.

Drivers of the Global Peracetic Acid Market

Recently, peracetic acid has been utilized to disinfect wastewater. Disinfectants are mostly used by utility companies to eliminate pathogenic organisms that cause diseases that are transmitted by water. Any germ that causes disease, such as bacteria, helminths, spores, and protozoa, can be effectively eliminated by applying the right disinfectant. Usually, peracetic acid is found in quantities between 5% and 22%. It produces free Hydroxyl (OH) and Hydrogen Peroxyl (HO2) radicals when dissolved in water. These radicals have a strong oxidizing power and are crucial for microbiological disinfection. Peracetic acid is becoming more and more used in waste water treatment because of all these advantageous qualities. Growing wastewater treatment facilities will fuel the global market for peracetic acid's expansion.

Restraints in the Global Peracetic Acid Market

Peracetic acid is extremely corrosive and has an offensive smell. If there is any chemical exposure, there could be a lot of risks. This substance may cause damage to the respiratory system, eyes, and skin. When the compound comes into contact with soft metals, such as brass, copper, iron, and zinc, it reacts strongly. Therefore, one of the main factors impeding the growth of the worldwide peracetic acid market is the extent of harm caused by exposure to peracetic acid.

Market Trends of the Global Peracetic Acid Market

It is anticipated that changing consumer lifestyles combined with rising purchasing power in both established and emerging markets would boost market expansion. The growing urban population and the number of working women are driving up demand for processed foods and better-quality water. A common preservative in meat, poultry, and fisheries products is peracetic acid.