Peracetic Acid Market Size, Company Revenue Share, Key Drivers & Trend Analysis, 2020–2028
The global Peracetic Acid Market research report published by Reports and Data offers a comprehensive study of the overall industry to help customers and investors understand the market dynamics and formulate strategic investment plans. The report provides an extensive assessment of the key organizations operating in the materials and chemicals industry to offer better insights into competition scenario and market size on a global and regional level. Growing competition in the global market has led to increasing innovation and technological advancement in the sector to meet the rising demand of environmentally conscious consumers. The report offers crucial and accurate data obtained through extensive primary and secondary research. The report also analyzes the manufacturing and consumption of products to give an accurate forecast estimation of the global Peracetic Acid market.
The Materials and Chemicals sector encompasses a wide range of commodity-related manufacturing industries. Included in this sector are companies that manufacture chemicals, construction materials, glass, paper, forest products and related packaging products, and metals, minerals and mining companies, including producers of steel. Materials and chemicals are used across various end-use industries such as medical & pharmaceutical, food technology, manufacturing, among others. Increasing consumer awareness regarding energy-efficiency and growing need to reduce carbon emissions have prompted industry layers to produce goods in a manner that it has least impact on the environment.
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Increasing demand for essential consumer products including soaps, detergents, perfumes, etc., growing production of environmentally sustainable chemicals and raw materials, and technological advancements in chemical and material manufacturing processes are some of the key factors driving the growth trend of the global materials & chemicals market. Rapidly surging demand for organic chemicals and high-performance specialty chemicals in the oil & gas, pharmaceutical, pulp & paper, personal care & cosmetics, food & beverage, agriculture, and textile industries is another important parameter for market growth.
Key companies profiled in the report: BioSafe Systems, Peroxy Chem, Airedale Chemical, Evonik, Aditya Birla Chemicals, FMC Corp. and Solvay S.A.
Application (Revenue, USD Million; 2020–2028)
- Bactericide and fungicide
- Bleaching agent
- Sterilizing agent
- Polymerization catalyst
- Sanitizing agent
Type (Revenue, USD Million; 2016-2028)
- Solution Grade
- Distilled Grade
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End Use (Revenue, USD Million; 2020–2028)
- Food and Beverage:
- Fresh produce
- Dairy
- Breweries
- Wineries
- Meat, Poultry and Seafood
- Agriculture
- Water Treatment
- Medical and Healthcare
- Paper and Pulp
Further key findings from the report suggest
- North America and Europe dominate the market due to the technologically advancements and the continuous research and development in this field. In addition to these factors another factor contributing to the growth of these regions is the widespread awareness about food safety and improving health.
- North America is expected to grow at a CAGR of 8.3% while Europe is expected to register a CAGR of 8.2%.
- Asia Pacific is expected to grow at a CAGR of 9.4%. Emerging economies such as China have become a major hub for manufacturers due to the abundance of resources and availability of labor.
- Corporate working hours and increasing female working population is propelling the packaged food demand globally thus, making use of Peracetic acid for packaging of utmost importance. The demand has furthermore increased due to an increase in the demand for frozen foods.
- Food and beverage industry holds the largest share of the market and is expected to continue to register the highest CAGR in the forecast period due to the rising awareness about food safety and sanitary practices.
- Bactericide and fungicides are seen to be the fastest growing type of application. They are expected to register a CAGR of 8.8%. Use of PAA for bleaching purposes is also gaining popularity in the paper and pulp industry.
- Use of Peracetic Acids in water treatment has also gained demand in the past few years. The market is expected to grow at a CAGR of 8.1%.
- A large number of hazards can be caused if there is any short term or long term exposure to the compound. For instance, in case of short term exposure to the acid, the chemical can be corrosive to the eyes, skin and respiratory tract. These hazards pose to be one of the major restraining factors. Other restraining factors include, high costs and lack of awareness in several countries.
Peracetic Acid Segmentation:
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