Exploring Innovations and Growth Potential in the Global Peracetic Acid Market

A report published by Allied Market Research on the global peracetic acid market states that the industry is expected to exhibit a remarkable CAGR of 7.7% throughout the forecast period from 2022 to 2031, with an estimated value of $1.8 billion by 2031. The market was previously valued at $0.9 billion in 2021. The report provides valuable insights into key dynamics, technological advancements, the competitive landscape, regional outlooks and investment prospects. These insights empower businesses and stakeholders to make well-planned decisions and capitalize on emerging opportunities in the peracetic acid market.

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Additionally, the report gives market size data in terms of value along with insights consisting of Porter's five forces analysis, profit assessment, and regulatory analysis. This study further provides a brief overview of the key factors impacting the growth of the industry which covers drivers, restraints, and opportunities. Understanding these important factors helps new competitors and stakeholders to broaden their product and service offerings, while also identifying untapped markets and potential partnerships to accelerate their growth trajectory.

The market is experiencing considerable growth owing to the rise in demand for peracetic acid from the food and beverage industry, as well as the rapid expansion of online retail platforms related to food and beverages. However, potential health risks associated with peracetic acid hinder the growth to some extent. Moreover, peracetic acid is widely used as a sanitizer in the brewing industry, opening new avenues for further expansion.

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Regional Outlook

The AMR report examines the global peracetic acid market performance across various regions, including North America, Asia-Pacific, Europe, and LAMEA. The analysis provides impactful data that highlights specific areas, permitting businesses and stakeholders to make informed decisions. According to the research analysis of the global peracetic acid market, the Asia-Pacific region accounted for the largest market share in 2021 and is likely to maintain its lead position during the forecast period. At the same time, the same region is expected to exhibit the fastest CAGR of 8.7% from 2022 to 2031.

Key innovations in peracetic acid applications

Stabilized peracetic acid formulations

Stability concerns in peracetic acid have been addressed with the introduction of stabilized formulations that improve storage and effectiveness. These formulations include additives that prevent degradation and hydrolysis. For example, Ecolab's Perasan™, a stabilized peracetic acid, has been used in food processing to sanitize equipment and surfaces, offering a longer shelf life, reduced repurchasing frequency, and lower chemical costs, thus making it an efficient and safer option.

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Use in advanced oxidation processes (AOPs)

Advanced oxidation processes (AOPs) improve the use of peracetic acid in environmental and wastewater treatment systems. Integrating peracetic acid with hydrogen peroxide oxidants and titanium dioxide catalysts produces highly reactive species that are capable of targeting sophisticated organic pollutants and environmentally hazardous pathogens which conventional methods are unable to combat. For example, at a wastewater treatment plant in California, researchers have implemented a UV light-hydrogen peroxide-peracetic acid hybrid system, which achieved notable improvements in the contaminant removals like pharmaceuticals and personal care products, resulting in considerably reduced pollutants in the effluent and hence, cleaner water for watersheds.

Competitive Scenario

The AMR study provides a comprehensive overview of the competitive landscape of the peracetic acid market, highlighting leading companies along with their strategic partnerships and alliances. The top players featured in the report are:

Acuro Organics Limited

Airedale Chemical Company

California Soda Company

Diversey Inc.

Ecolab Inc.

Enviro Tech Chemical Services

Evonik Industries AG

Kemira Oyj

Jubilant Pharmova Limited

MITSUBISHI GAS CHEMICAL COMPANY, INC.

Seeler Industries Inc.

Solvay

SOPURA S.A.

Tanfac Industries Limited

Lenntech B.V.

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To conclude, the Allied Market Research report on the global peracetic acid market provides detailed insights into recent developments in the market, growth factors, and competitive dynamics. It outlines key investment opportunities and innovations, enabling businesses and stakeholders to make informed decisions and boost growth prospects.

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