The demand for this product in the peracetic acid market has been growing in applications such as pulp & paper bleaching, water treatment, medical, agricultural, etc. In the coming years this product would gain prominence and boost up the demand in peracetic acid market as this product is environment friendly. Distilled grade contains less proportion of other chemicals and are increasingly used in the paper & pulp industry.
Pulp & paper bleaching is a significant division in peracetic acid market which is expected to develop at a rate of approximately 8% in the coming years.
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Peracetic Acid Market will likely surpass USD 1.2 billion by 2025; according to a new research report. Developments in the food and beverage industry would be a growth enabler in the peracetic acid market in the coming years. This is due to the product usage in the food & beverage industry as a disinfectant. The product is used as a disinfectant in various segments of the food & beverage industry like beverages, dairy products, meat and poultry products, pulses, grains & cereals, fruits & vegetables, etc. Peracetic acid is widely used as a sanitizer in the brewing industry as it is highly effective against microbial contamination. It is also an effective sterilant against several bacteria, viruses, fungi, and yeasts. Peracetic acid is very reactive and quickly decomposes to acetic acid, oxygen and water. Hence, this compound is directly applied to the food items as it does not leave any harmful residues.
Even though, the high reactivity of peracetic acid enables it to quickly degrade to harmless byproducts, it is also accompanied by certain occupational hazards. This chemical compound can cause very serious side effects if inhaled, ingested, or absorbed via dermal exposure including death. Peracetic acid is commonly sprayed on animal carcasses, food packaging, and produce to kill bacteria. If this spray is not adequately contained, human exposure occurs. Lack of proper ventilation is another reason behind these rising occupational hazards. Hence, this could negatively affect the growth of peracetic acid market.
Peracetic acid is commercially traded in solution form which is a mixture with hydrogen peroxide and acetic acid to maintain its constancy. The commercial grade comprises of peracetic concentration ranging between 0.3% to 40% by weight.
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The product is used in the pulp & paper industry to prevent the formation of biofilms. It is used in the water industry as a purifier. Increasing demand from industries like food & beverage, pharmaceuticals and medical would further augment the growth in the peracetic acid market in the forecast timeframe.
Asia Pacific holds a significant regional peracetic acid market which is most likely to grow at a CAGR of more than 9%. Increasing demand for the product from China and India would augment the peracetic acid market growth in the coming years.
Major companies of the peracetic acid market include Mitsubishi Gas Chemical Company, Inc., Kemira, Solvay S.A., Evonik Industries, Thai Peroxide Limited, PeroxyChem LLC, Enviro Tech Chemical Services, Inc etc.