Peracetic Acid Market Size, Share, Growth Analysis, By Grade(<5% Grade, 5-15% Grade, and >15% Grade), By Application(Disinfectant, Sterilant, Sanitizer, and Others), By End Use(Healthcare, Food & Beverages, Water Treatment, Pulp & Paper), By Region - Industry Forecast 2024-2031

Global Peracetic Acid Market size was valued at USD 860.95 million in 2022 and is poised to grow from USD 941.02 million in 2023 to USD 1916.72 million by 2031, at a CAGR of 9.3% during the forecast period (2024-2031).

Key market players are focusing on growing their customer base in order to gain a competitive advantage. As a result, key players are adopting variety of strategic initiatives, such as mergers & acquisitions and partnerships. To increase penetration across profitable areas, major players in global peracetic acid market are maintaining successful relationships with various companies. ' Solvay SA ', ' Evonik Industries AG ', ' Ecolab Inc. ', ' PeroxyChem LLC ', ' Mitsubishi Gas Chemical Company Inc. ', ' Kemira Oyj ', ' Aditya Birla Chemicals Ltd. ', ' Christeyns NV ', ' SEITZ GmbH ', ' Airedale Chemical Company Limited ', ' Promox S.p.A. ', ' Thai Peroxide Co. Ltd. ', ' FMC Corporation ', ' Loeffler Chemical Corporation ', ' Hydrite Chemical Co. ', ' Enviro Tech Chemical Services Inc. ', ' Sopura S.A. ', ' Promox S.p.A. ', ' SEKO S.p.A. ', ' PeroxyChem LLC ', 'In January 2024, Evonik, a world-leading peroxides producer, announced its full acquisition of the former joint venture, Thai Peroxide Company Limited (TPL), located in Saraburi, Thailand. ', 'On 22 July 2022, Active Oxygen’s business line of Evonik announced a new strategy aimed at expanding beneficial handprint and lowering environmental footprint of hydrogen peroxide, peracetic acid, and persulfates. This strategy includes various steps to reduce carbon emissions and improve resource efficiency in the manufacturing of these chemicals to achieve climate neutrality across the business line by 2040. ', 'In January 2022, Arxada – formerly Lonza Specialty Ingredients – acquired Enviro Tech Chemical Services, a US manufacturer of proprietary and high efficacy antimicrobial and biocidal products.  ', 'In December 2021, Arxada AG acquired Enviro Tech Chemical Services, Inc. Due to this acquisition, Arxada’s portfolio presently includes ecologically sustainable offerings based on peracetic acid. ', 'In August 2021, Solvay SA announced the launch of a new grade of peracetic acid called Oxypure™ for the food and beverage industry. The product is designed to provide effective microbial control while minimizing chemical residues.'

Peracetic acid has recently used in wastewater disinfection. Utility companies primarily use disinfectants to destroy pathogenic organisms that spread waterborne diseases. Any disease causing microbes, including bacteria, helminths, spores, and protozoa will be sufficiently treated by an appropriate disinfectant. Peracetic acid is typically available in concentrations ranging from 5% to 22%. When it is dissolve in water, it produces free Hydrogen Peroxyl (HO2) and Hydroxyl (OH) radicals, which have a high oxidizing capacity and play an important role in microbial disinfection. Due to all this beneficial properties, adoption of peracetic acid in waste water treatments is increasing. Increasing wastewater treatment processes will drive the growth of global peracetic acid market worldwide.

Changing lifestyle of consumers with the increasing purchasing power of consumers across emerging as well as developed regions is expected to increases the market growth. The increasing number of working women with the growth in the urban populations is creating demand for processed food and improved quality water. Peracetic acid is widely used as a preservative in the meat, poultry and fisheries products.

On the basis of region, global peracetic acid market is divided into North America, Europe, Asia Pacific, Latin America, and MEA. Asia-Pacific region dominated the global market in 2022. The growing demand from various industries, such as water treatment, food, and healthcare, is increasing the demand for peracetic acid products. Rising foreign investment in the Asia Pacific market due to cheap labour and easy access to raw materials, this will boost the growth of the market. China is the largest food & beverage market in the Asia Pacific region with consumer spending on restaurants, cafes, etc. Also the increasing requirement for clean water in the region will boost the market for water treatment industry during the forecast period. According to US International Trade Commission report, countries like China and India by 2035 would consume the largest volume of water in municipal and domestic, industry and agriculture consumption thus increasing the demand for peracetic acid in wastewater treatment.