Zion Market Research has published a new report titled “Peracetic Acid Market for Food and Beverages, Pulp and Paper, Water Treatment, Medical, Agriculture, and Others Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020”. According to the report, global demand for peracetic acid was valued at around USD 425.0 million in 2014 and is expected to reach USD 655.0 million in 2020, growing at a CAGR of above 7 % between 2015 and 2020.
Peracetic acid is an organic compound with formula CH3CO3H. Peracetic acid (PAA) is produced by hydrogen peroxide and acetic acid in the presence of catalysts. The reaction results in peracetic acid along with certain amounts of hydrogen peroxide, acetic acid, and water. Peracetic acid is manufactured in various grades depending upon the concentration of peracetic acid content in the chemical mixture and the requirements of end-user applications. It is soluble in ether, sulfuric acid, ethanol, and miscible with water. It is very effective as a biocide and is used in a range of applications. Peracetic acid is primarily used as a food & beverage, pulp & paper bleaching, medical, agriculture and others industries.
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The peracetic acid market is mainly driven by growing demand from food processing and beverage industries. Increasing demand for peracetic acid in beverage processing industry and rising demand from the water treatment industry is likely to boost the demand for the peracetic acid market. However, health hazard associated with continuous exposure of peracetic acid is expected to become key restraint for the peracetic acid market.
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On the basis of applications, the peracetic acid market has been classified into food and beverages, pulp and paper bleaching, water treatment, medical, agriculture, and others. The food and beverages application segment dominated the market with 23% share of the total market in 2014. Water treatment followed by medical, pulp & paper industry is expected to the fastest growing applications of peracetic acid. Increased consumption of food such as frozen meat products and beverages industry is attributed to the food and beverage application is projected to drive the peracetic acid during next six years.
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Geographically, North America was the leading regional market for global peracetic acid in 2014. North America is followed by Asia Pacific. The Asia Pacific also expected to dominate the fastest growing region over forecasted period as a result of high growth in the peracetic acid market especially in emerging economies like India and China. North America accounted for over 28% share of the total market in 2014.
Some of the key players in the global peracetic acid market include Kemira Oyj, Mitsubishi Gas Chemical Inc., Aditya Birla Chemicals, Evonik Industries, Solvay S.A., Promox S.p.A., Ecolab Inc., PeroxyChem Llc., SEITZ GmbH and Enviro Tech Chemical Services Inc.
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