Peroxyacetic Acid Market Overview
The global Peroxyacetic Acid Marketis expected to exhibit a strong 7.11% CAGR over the forecast period from 2016 to 2027, according to the latest research report from Market Research Future (MRFR). The global peroxyacetic acid market is studied in detail in the report, which takes into account the major drivers and restraints affecting the global market to provide detailed insight into the market’s present condition and future growth trajectory. Various components of the global peroxyacetic acid market are studied in the report in order to provide readers with a comprehensive view of the market’s dynamics.
Peroxyacetic acid, also called peracetic acid, is an effective sterilizing and cleaning agent and is thus widely used in cleaning and sterilizing applications. The biodegradability of peracetic acid is a major plus for the market, as it gives peroxyacetic acid an edge over other, nonbiodegradable cleaning and sterilizing agents used in various end-use industries. This has driven the demand from the peroxyacetic acid market and is likely to remain a major driver for the global peracetic acid market over the forecast period. Increasing governmental support for environmentally viable cleaning agents is likely to remain a major driver for the global COVID-19 analysis on peroxyacetic acid market over the forecast period.
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Peroxyacetic Acid Market Competitive Analysis:
Leading players in the global peroxyacetic acid industry include Seitz GmbH, Peroxychem, Enviro Tech Chemical Services, Christeyns, Promox S.P.A., Aditya Birla Chemicals, Ecolab, Evonik Industries, and Solvay Chemicals.
Research projects utilizing peroxyacetic acid are common and are likely to supply the market with a whole host of new opportunities over the coming years. In October 2019, fish researchers announced work on a new method to cure amoebic gill disease in salmon. The new method utilizes peroxyacetic acid in an important capacity.
Peroxyacetic Acid Market Segmentation:
The global peroxyacetic acid industry is segmented on the basis of type, application, and region.
By type, the global peroxyacetic acid market is segmented into disinfectant, sanitizer, and sterilant. The disinfectant segment accounted for the largest share of the global peroxyacetic acid market in 2016 and is likely to exhibit a strong 8.37% CAGR over the forecast period to retain its lead in the market.
By application, the global peroxyacetic acid market is segmented into food and beverages, healthcare, water treatment, pulp and paper, and others. The food and beverages segment holds the largest share in the global peroxyacetic acid market and is likely to remain the highest revenue generator over the forecast period. The food and beverages segment accounted for 27% of the global peroxyacetic acid market in 2016.
Peroxyacetic Acid Market Regional Analysis:
Europe holds the largest share in the global peroxyacetic acid market and is likely to remain the highest revenue generator over the forecast period due to the growing demand for packaged food in Europe and the growing demand for environmentally viable cleaners and sterilants. The latter point is likely to be especially vital to the global peroxyacetic acid market over the forecast period, as governments in Europe have taken strong steps to eliminate environmentally harmful chemicals from various industrial processes. Asia Pacific is expected to exhibit the highest CAGR over the forecast period.
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of market and industries. Cordially get in touch for more details.