Peracetic Acid Market to exceed $850mn by 2024
Published Date: June 9, 2017 Author: Global Market Insights, Inc.
Peracetic Acid Market size will surpass USD 850 million by 2024; according to a new research report by Global Market Insights, Inc.
Peracetic acid market has recorded substantial growth since past few years with a variety of applications in food and beverage industry, pulp and paper bleaching, water treatment, etc. Increased consumption of foodstuffs and beverages because of the rising population has led to the growth of the peracetic acid market. It is widely used as a disinfectant and cleanser in the food processing industry. The vulnerability of frozen foods to microbial infection has driven the demand for the product globally.
In terms of applications, food and beverage sector will hold the largest market share of more than 30% by 2024. The government regulations have also contributed to the product market development in the field of food and beverages. Blends of peracetic acid have been approved by U.S. FDA to be used as sanitizer on food contact surfaces.
Innovation in chemical products has led the horticulture industries to become more vigilant for ensuring microbial safety, which has popularized the peracetic acid market application in agriculture. With the use of distilled peracetic acid, the overall costs can be reduced in pulp and paper making industry. However, the health hazards associated with incessant exposure to the product can impede the growth of the peracetic acid market.
Browse key industry insights spread across 118 pages with 143 market data tables & 11 figures & charts from the report, “Peracetic Acid Market Size By Product (Solution Grade, Distilled Grade), By End-user (Food & Beverages, Pulp & Paper Bleaching, Water Treatment, Medical, Agriculture), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
The medical segment market revenue is assessed to exceed USD 35 million by 2024 in Europe, because of regulated healthcare segment and increased patient awareness. The product is used as a sterilant and disinfectant in dentures, tubes, syringes, plastic implants and other medical equipment.
The versatile nature and wide range of applications in different fields has boosted the demand for peracetic acid. Escalating demand of clean water for industrial and household applications will be a fundamental factor leading to the expansion of peracetic acid market in water treatment segment.
The existence of latest technologies in manufacturing and a strong supply chain in China has led the peracetic acid market to boost at a robust pace. Rising demand of agrochemicals in agricultural sector will augment the product market in Asia Pacific. In Europe, the market for peracetic acid in pulp and paper bleaching sector is foreseen to surpass USD 40 million by 2024 due to soaring technological innovations such as use of sustainable technologies in pulp and paper sector. Rising consumption of processed food in Middle East and Africa will drive the product market. In countries such as U.S., Australia and Canada, there are strict regulations imposed on halogen based chemicals which has advocated the use of the acid.
The production capacity is limited worldwide and the product market is consolidated with key manufacturers such as Diversey Inc., Ecolab Inc., Kemira Oyj, Mitsubishi Gas Chemicals, Inc., Thai Peroxide Ltd., Solvay S.A., Peroxychem LLC and Evonik Industries. The companies exhibiting backward integration in this category are Mitsubishi Gas Chemical Company, Inc., Solvay S.A., etc.
Peracetic acid market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2017 to 2024, for the following segments:
Peracetic Acid Market By End-user
- Food and beverages
- Pulp and paper bleaching
- Water treatment
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- Latin America
- South Africa