The peracetic acid market size is estimated to be USD 664.9 million in 2018

Posted on: Feb-2018

Peracetic acid (also known as peroxyacetic acid, or PAA), is an organic compound with the formula CH3CO3H. This organic peroxide is a colorless liquid with a characteristic acrid odor reminiscent of acetic acid. It can be highly corrosive.

The peracetic acid market size is estimated to be USD 664.9 million in 2018 and projected to reach USD 989.2 million by 2023, at a CAGR of 8.27%, from 2018 to 2023. The increasing use of peracetic acid in various applications, such as disinfectant, sanitizer, bleach, sterilant, industrial reagent, oxidizer, and polymerization catalyst is driving the growth of the peracetic acid market.

The peracetic acid market has been segmented on the basis of application, end-use industry, and region. The peracetic acid market has been segmented based on application into disinfectant, sterilant, sanitizer, and others. The sterilant segment is projected to grow at the highest CAGR, in terms of value. Peracetic acid is an ideal sterilant due to its advantages, such as water solubility, leaving no residue after rinsing, and no harmful health or environmental effects. In fact, the food industry has adopted peracetic acid as a key material for sterilization method because of these beneficial properties and safety characteristics.

The peracetic acid market has been segmented based on end-use industry into healthcare, food & beverage, water treatment, pulp & paper, and others. The water treatment segment is projected to grow at the highest CAGR, in terms of value, during the forecast period. This is because rising health awareness, increasing need for convenient water treatment, and stringent regulations by water treatment authorities are leading to the development and growth of the water treatment end-use industry.

The peracetic acid market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. Asia Pacific is a rapidly developing region with many emerging countries. This leads to many opportunities for industry players who are willing to invest in these areas. The rising demand for peracetic acid from the key industries such as food & beverage, healthcare, water treatment, and others, from India, China, Japan, among other countries, is projected to drive the growth of the peracetic acid market in the region.