Peracetic Acid Market worth $1,685 million by 2030 | Key players operating in the market include Evonik Industries AG, Solvay SA, Mitsubishi Gas, Ecolab, Enviro Tech

According to recent market research "Peracetic Acid Market by Application (Disinfectant, Sterilant, Sanitizer), End-use Industry (Healthcare, Food & Beverage, Water Treatment, Pulp & Paper), and Region (North America, Europe, APAC) - Global Forecasts to 2030", The global peracetic acid market size is projected to grow from USD 813 million in 2020 to USD 1,685 million by 2030, at a CAGR of 7.6%.

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The drivers of the industry are the growing usage of peracetic acid in end-use industries and the demand for high-quality biocides products. The availability of different product grades and shift in consumer preference toward high-quality products are also important drivers of the market in recent times. Increase in the use of peracetic acid in industries, such as healthcare, food & beverage, water treatment, pulp & paper, and the emergence of new applications (laundry, breweries, wineries, and agriculture) are expected to change the market dynamics. The growing demand in India, China, Brazil, South-East Asia, and Mexico is expected to drive the market during the forecast period.

The sterilant segment is projected to grow at a higher rate than the other application segments. It is an emerging application of peracetic acid. The major factor responsible for the growth of sterilants is their increased demand in the food industry, life sciences, pharmaceutical, and other industrial products. The rising population is also projected to boost the demand from end-user industries, such as healthcare and life sciences.

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Disinfectant is projected to be the fastest-growing application of peracetic acid. A key factor for the growth of this segment is the high demand for peracetic acid-based disinfectant in the food & beverage, healthcare, wastewater treatment, and pulp & paper industries. Peracetic acid is largely used in the disinfection of medical supplies in the healthcare industry. In the pulp & paper industry, it is used to prevent biofilm formation. Peracetic acid-based disinfectant is also used in the water treatment industry to treat wastewater and sewage water. It is projected to have a high demand in the water treatment industry and is mostly used for purification and disinfection of water treatment systems.

The wastewater treatment end-use industry in on the upsurge and is expected to register a high growth rate in the next five years. The growing and developing economies of APAC, such as China and India, with their infrastructural and technological development in the end-use industries, are expected to increase the demand for disinfectants. With the upsurge in the use of peracetic acid-based disinfectants in applications, such as water treatment, food & beverage, and healthcare, the market is expected to grow in the future.

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Evonik Industries is among the leading players in the market due to its global distribution capabilities and strong financial background. With an established brand name in the chemical industry, the company is expected to remain a top player in the peracetic acid market. It also has a strong geographic presence, which helps its growth in this market. Its strong focus on brand management and efficient distribution will help it to maintain its position in the market.

Solvay is another market leader in the peracetic acid business. Solvay is among the top manufacturers of peracetic acid. It primarily focuses on innovations and investments to sustain its leading position in the market. The company has a wide range of peracetic acid products. The strength of the company lies in its strong geographical presence, long-term market presence, and established product portfolio for peracetic acid products.

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