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Trends in Growth, Market Segmentation, and Competitive Strategies Influencing the Peracetic Acid Market
Peracetic Acid Market
Projected Market Value and Growth for the Peracetic Acid Market
The peracetic acid market is anticipated to experience robust expansion, reaching a value of $1.94 billion by 2030. This growth corresponds to a compound annual growth rate (CAGR) of 9.4%. Several factors drive this upward trend, including increased investments in water reuse technologies, tighter hygiene and safety regulations, expansion of healthcare infrastructure, higher food export safety requirements, and a growing preference for eco-friendly sanitizers. Key forecast period trends highlight rising demand for highly effective disinfectants, greater utilization in food safety applications, broader incorporation in water treatment, expanding sterilization needs in healthcare, and a shift toward environmentally friendly oxidizing agents.
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Leading Players Influencing the Peracetic Acid Industry
A number of prominent companies dominate the peracetic acid market landscape. These include Evonik Industries AG, Solvay S.A., Arkema S.A., Mitsubishi Gas Chemical Co., Inc., FMC Corporation, Kemira Oyj, Nouryon, BASF SE, LANXESS AG, OCI N.V., ADEKA Corporation, Daicel Corporation, STERIS plc, Christeyns NV, Promox S.p.A., Seeler Industries Inc., Airedale Chemical Company, Chemtex Speciality Ltd., Acuro Organics Limited, and Evans Chem India Pvt. Ltd.
Significant Acquisition Enhancing Market Presence in Asia Pacific
In January 2024, Evonik Industries AG, a chemical company based in Germany, acquired Thai Peroxide Co. Ltd. for an undisclosed sum. This acquisition is part of Evonik's strategy to strengthen its hydrogen peroxide and peracetic acid specialty chemicals portfolio, especially in the rapidly expanding Asia Pacific region. Thai Peroxide Co. Ltd., located in Thailand, specializes in manufacturing hydrogen peroxide and peracetic acid, boosting Evonik's capability to provide tailored industrial solutions.
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Innovative Trends Shaping the Future of Peracetic Acid
Market leaders are actively focusing on innovation by developing products such as recirculating aquaculture systems (RAS) and biocides to improve productivity and sustainability. RAS is a water-efficient fish farming technique that recycles water to maintain high-quality conditions, supporting dense fish farming while minimizing environmental impact.
Biocides play a crucial role in controlling harmful organisms like bacteria, fungi, viruses, and pests across various sectors including water treatment, pest control, and disinfection. For example, in May 2023, Evonik introduced VIGOROX Trident, designed to effectively reduce fish pathogens in aquaculture ponds and recirculating systems, even in the presence of live fish. This product aims to manage water quality and combat waterborne diseases in fish farming environments.
Detailed Segmentation of the Peracetic Acid Market
The peracetic acid market is categorized based on several criteria:
1) Grade: Solution Grade and Distilled Grade
2) Application: Disinfectant, Sterilant, Sanitizer, and Other Uses
3) End-Use Industries: Healthcare, Food and Beverage, Water Treatment, Pulp and Paper, and Other Sectors
Further breakdowns include:
- Solution Grade segments such as 5-15% Peracetic Acid Solution, 15-30% Peracetic Acid Solution, 30-35% Peracetic Acid Solution, and Low-Concentration Peracetic Acid Solutions
- Distilled Grade categories including High Purity Peracetic Acid, Analytical Grade Peracetic Acid, and Industrial-Grade Distilled Peracetic Acid
These differentiated segments help capture the diverse applications and purity levels required across various industries.
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Peracetic Acid Market status and forecast, categorizes the global market size (value & volume) by key players, type, application, and region.
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