Key companies in the global peracetic acid market are sourcing their channels to boost their presence in the emerging nations. Large investments in research and development are being made by companies to acquire an edge above other companies. Private companies in the peracetic acid market are taking the help of government agencies and are striving to generalize the use of peracetic acid in water treatment and other similar applications. Some of the vendors operating in the global peracetic acid market are: Solvay S.A., Evonik Industries, Kemira Oyj, Promox S.p.A., Mitsubishi Gas Chemical Inc., Ecolab Inc., Thai Peroxide Limited, PeroxyChem LLC, and Diversey Inc., states a new report by Transparency Market Research (TMR).
According to the report, the global peracetic acid market will be worth US$652.9 mn by 2020. By end user, the global peracetic acid market will be led by the food and beverage segment on account of growing demand for frozen meat products and also for beverages such as aerated and non-aerated drinks. The high demand for clean and safe water not just for households but also for industrial applications is expected to boost the water treatment segment in the years to come, says a TMR analyst. On account of the high demand from emerging nations such as India and China, the Asia Pacific market is anticipated to lead in the peracetic acid market, taking the place of North America, which was leading previously on the basis of geography in the peracetic acid market. The demand will also be noteworthy from Latin America and the Middle East. This will ensure the healthy growth of the peracetic acid market in the Rest of the World.
Cost Effectiveness of Peracetic Acid to Drive Demand in Forecast Period
The growing demand for peracetic acid from water treatment sector will fuel the growth of this market. The food and beverages segment will also drive the sales of peracetic acid in the coming years. This market is anticipated to experience a lot of interest in the coming years on account of the ability of peracetic acid to inactivate bacterial performance in a cost effective manner as opposed to other disinfection technologies. The use of peracetic acid in medical line has been a trend since long and this is also furthering the growth of the market globally. Moreover, peracetic acid is low on toxicity level as opposed to chlorine as it does not produce halogenated DBPs. This is leading to an increased preference for this acid for water treatment. In addition to this, the use of this acid onsite requires no special risk management procedures. All these factors will fuel the demand for peracetic acid in the forecast period.
Price Fluctuation of Raw Materials to Affect Peracetic Acid Market Adversely
Due to the production of peracetic acid on a larger scale, the price of this acid has reduced considerably. This will boost the growth opportunities for this market during the forecast period. On the other hand however, the price fluctuation of the raw materials will pose a challenge for the market. The exposure to peracetic acid can cause hazards, which will threaten the demand for this acid in the years to come. All these factors are anticipated to hamper the growth of the peracetic acid market worldwide.
The information presented in this review is based on a Transparency Market Research report, titled, “Peracetic Acid Market (End User - Food and Beverages, Pulp and Paper Bleaching, Water Treatment, Medical, Agriculture and Other End-users) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”
The research study has been segmented as below:
Global Peracetic Acid market, by End User:
- Food and Beverages
- Pulp and Paper Bleaching
- Water Treatment
Global Peracetic Acid Market, by Region:
- North America
- Asia Pacific
- Rest of the World
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