The global peracetic acid market side is anticipated to showcase robust growth by 2029 due to increasing demand from the food and beverage industry. This information is published by Fortune Business Insights in its report, titled “Peracetic Acid Market, 2022-2029“. The increasing use of the acid as an alternative to chlorine for wastewater treatment is one of the prominent drivers of the market. It is also being used as bleach and disinfectant instead of chlorine. The increasing manufacturing of sanitizers, bleaching agents, and disinfecting products for several applications is augmenting product sales.
High Production of Disinfectants to Augment Growth
The pandemic of coronavirus has incurred a high demand for the compound peracetic acid due to its extensive utilization for producing disinfectants. The rising need for sanitizing various surfaces across hospitals, public places, households, factories, and much more required the mass production of cleaners and disinfectants to eradicate this highly infectious virus. Moreover, the various safety protocols imposed by respective governments have resulted in high demand for the product. The aftermath of the pandemic is anticipated to still experience considerable growth for the product due to increased awareness of hygiene.
On the basis of application, the market is divided into disinfectant, sterilizer, sanitizer, and others. By end user, the market is segmented into healthcare, food and beverage, water treatment, pulp and paper, and others. Based on geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What Does the Report Contain?
The insights in the report are based on primary and secondary research to come to authentic conclusions. The analysis is based on industry-wide data and market projections are estimated by our in-house experts. The data is classified on various bases and each segment meticulously studied to give strategies based on market dynamics. The indispensable guidance provided by our experts is beneficial for the new entrants to the market. The guidance includes business priorities, pricing, prominent business models, challenges, potential business expansion opportunities, and much more. This report is not only beneficial for the new entrants or business holders of the market but also for the investors in this product.
Drivers & Restraints
Increased Production of Disinfectants to Surge Demand
The increasing production of chemical sterilant, disinfectants, sanitizers, and others is augmenting substantial peracetic acid market growth. The increasing number of hospital establishments and hospital admissions due to coronavirus infection is propelling the product sales. For instance, as per Lieutenant General Todd Semonite, Chief of Engineers of the U.S. Army and the Commanding General of the U.S. Army Corps of Engineers, approximately 340 hospitals are being built in hotels, dormitories, convention centers, and large open spaces by the US Army Corps of Engineers.
In addition to this, the rising utility of the product across wastewater treatment plant is substantial. The growing consumption of clean drinking water due to rising population is projected to propel the market development.
Rising Utilization of Product for End-User Industries in Europe to Aid Sales
Europe is anticipated to lead peracetic acid market share in the foreseeable future. This is due to the rising utility of the product in various processes in end-user industries.
Asia Pacific is expected to have significant growth in the forthcoming years. This is because of the easily available raw materials and development of advanced technology in the region.
Eminent Companies Concentrate on Strategic Marketing to Stabilize Their Market Position
The market has both global and regional players operating in the competitive landscape. They are competing for establishing themselves at the top of the market using various strategies. Some of them are using strategic marketing to ensure product sales. In addition to this, the manufacturers are collaborating with various end user companies to facilitate their product sales and ensure growth stability of the business.
April 2020: Solvay got approval to utilize Proxitane AHC against coronavirus infection. The product is a concentrated liquid disinfectant composed of hydrogen peroxide and parasitic acid.
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