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).

Peracetic acid is used in dairy and cheese plants, food processing equipment, and pasteurization equipment in breweries, wineries, and beverage plants. It is also used to disinfect medical supplies, prevent biofilm formation in the pulp industry, and as a water purifier and disinfectant. Peracetic acid can be used as a cooling tower water disinfectant, preventing biofilm formation and effectively controlling Legionella bacteria. Peracetic acid created some laundry detergents. The reaction of tetraacetylethylenediamine (TAED) in the presence of alkaline hydrogen peroxide solution obtained detergents, and is more effective bleach than hydrogen peroxide. It also forms naturally in the environment through photochemical reactions involving formaldehyde and photo oxidative radicals. It is always sold as a solution mixed with acetic acid and hydrogen peroxide to maintain stability.

The primary factor driving the growth of global peracetic acid market is the increasing demand for peracetic acid from the water treatment industry. Increasing demand for drinking water due to the increasing population and growing water scarcity concerns drive the market’s growth. Rapid industrialization worldwide requires clean and treated water for consumption and maintains health. The explosion of the paper, textile, and other manufacturing industries in both developed and developing regions is expected to drive the growth of global market. Also, the growing awareness about peracetic acid is environmental friendly, which increases its demand worldwide. The increasing demand for medical industry products for sterilizing surgical instruments and other medical devices will drive the market expansion. The growing demand of peracetic acid in infection control and increasing government investment in the healthcare industry are the factors responsible for market growth. Peracetic acid is highly flammable liquid and corrosive in nature. The liquid can cause severe skin and eye infection and can cause toxicity. This factor is expected to hamper the market growth.

US Peracetic Acid Market is poised to grow at a sustainable CAGR for the next forecast year.