The global peracetic acid market is expected to reach USD 1.22 billion by 2025, according
to a new report by Grand View Research, Inc. The effectiveness of peracetic
acid as a biocide and versatility of its usage are expected to drive the
industry growth.
Peracetic acid is a colorless liquid having
strong oxidizing properties. Food & beverages industry faces various issues
due to microbial contamination. It is effective in curbing this activity thus
finding widespread applications in the industry. Food & beverage industry
has witnessed a positive growth in the recent past, and this trend is expected
to continue over the forecast period thus benefitting the market demand.
Peracetic acid, unlike chlorine and sodium
hypochlorite, does not degrade into environmentally harmful by-products. Also,
it possesses more oxidizing potential than other disinfectants. Growing
awareness regarding ill effects of chlorine in water treatment has also
prompted the use of peracetic acid.
Various government agencies have approved
peracetic acid for direct contact usage in food & beverages applications.
Also, environmental regulations are also expected to favor the market growth.
Companies have been focusing more on high growth markets such as Asia Pacific
to establish manufacturing units in the region to increase their presence.
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http://www.grandviewresearch.com/industry-analysis/peracetic-acid-market
http://www.grandviewresearch.com/industry-analysis/peracetic-acid-market
Further key findings from the report suggest:
· The global peracetic acid market demand
exceeded 200 kilo tons in 2015 and is expected to surpass 400 kilo tons by
2025, growing at a CAGR of 7.6% over the forecast period
· Water treatment is expected to witness the
highest growth over the forecast period. Broad spectrum usage, effectiveness
and compatibility with existing water treatment infrastructure are the
primarily attributed reasons for this scenario.
· Peracetic acid products suiting specific
applications have been developed. This increases the effectiveness of the
product used in the particular application.
· Food & beverages application was the
leading application segment and accounted for over 30% of total market volume
in 2015. It does not leave any harmful residue on the food. It is effective in
containing microbial activity and hence is widely used in the processing of
products such as fresh vegetables, fruit and meat.
· Europe was the leading consumer and
accounted for 38.9% of total market volume in 2015. Asia Pacific is expected to
witness the highest growth of 8.3% over the forecast period.
· Occupational exposure to peracetic acid is
a cause of concern for manufacturers. However, companies are ensuring strict
adherence to guidelines such as Globally Harmonized System of Classification
and Labeling of Chemicals (GHS)
· Key industry participants include Solvay
S.A., PeroxyChem, Evonik Industries and Airedale Chemical Company.Companies
have been trying to gain market share by developing innovative product
portfolio.
Grand View Research has segmented the
peracetic acid market on the basis of applicationand region:
Peracetic Acid Application Outlook (Volume,
Kilo Tons; Revenue, USD Million, 2014 - 2025)
·
Food & Beverages
·
Health Care
·
Pulp & Paper
·
Water treatment
·
Other applications
Peracetic Acid Regional Outlook (Volume,
Kilo Tons; Revenue, USD Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
