The peracetic acid market is projected to grow from USD 813 million in 2020 to USD 1,685 million by 2030, at a CAGR of 7.6%. New applications and product concentrations are expected to develop in biocides industry. The key manufacturers are working on various niche and emerging applications and sample trials are being undertaken to test the peracetic acid performance across various industry verticals. The key end-use industries for peracetic acid are food & beverage, healthcare, water treatment, and others. The restraining factor of the peracetic acid market is a lack of awareness regarding the product and its high cost.
“Based on application, the disinfectant segment is expected to lead the peracetic acid market during the forecast period.”
The disinfectant application accounts for the largest share in the peracetic acid market and is expected to remain the largest market segment between 2020 and 2030.
A peracetic acid-based disinfectant can be used for water treatment to treat wastewater and sewage waste. It is projected to grow at a higher growth rate in the water treatment industry and is mostly used in the water treatment systems for purification and plumbing disinfection purposes. It also has substantial use in the disinfection of medical supplies in the healthcare industry. In pulp & paper industry, the disinfectant is used to prevent the bio-film formation.
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“Based on end-use industry, the wastewater treatment segment is expected to register a high growth rate in the peracetic acid market during the forecast period.”
The wastewater treatment end-use industry in on the upsurge and is expected to register a high growth rate in the next five years. The growing and developing economies of APAC, such as China and India, with their infrastructural and technological development in the end-use industries, are expected to increase the demand for disinfectants. With the upsurge in the use of peracetic acid-based disinfectants in applications, such as water treatment, food & beverage, and healthcare, the market is expected to grow in the future.
“The European region is expected to lead the peracetic acid market during the forecast period.”
The European region is projected to lead the peracetic acid market from 2020 to 2030, in terms of value and volume.
In Europe, peracetic acid is mostly used for clarification, disinfection, and purification of brackish water and wastewater. Industries, such as chemical processing, food & beverage, and pulp & paper have high demand for peracetic acid in the region. Physical water treatment and latest processes, such as UV disinfection and membrane filtration are also gaining importance in the European market as replacements for chemicals. Stringent EU directives support the minimal use of chemicals for water treatment. This is one of the key challenges in the European peracetic acid market.