New York, NY -- (SBWire) -- 08/31/2017 --Growing need for disinfectant in the agricultural sector is expected to fuel demand for peracetic acid in Asia Pacific. Surge in microbial contamination in various industries is further likely to boost growth of the peracetic acid market in APAC.
Production process in several industries including textile, automotive, and food and beverages often results in industrial wastes propagating microbial contamination. Unhygienic production environment could degrade the quality of products manufactured in several industries significantly. With the increasing need to maintain hygienic production process, industries are witnessing robust demand for disinfecting agents. Attributed to eco-friendly feature, the peracetic acid witnesses considerable demand as a disinfectant in various industries. Bound to such factors, the peracetic acid market is expected to witness significant demand in APAC during the predicted period.
Manufacturers in the healthcare, pharmaceutical and chemical industries witness significant need to decompose organic wastes and kill pathogens. Due to surge in demand for chemical disinfectants in various industries, the peracetic acid market in APAC is expected to witness a significant boost throughout 2024.
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On the other hand, increasing exposure of peracetic acid as a sanitizing agent through application on skin, inhalation or oral intake can lead to harmful side-effects. Moreover, features such as highly volatile PPA of over 17% could lead to increasing risks related to logistics. Such factors are likely to inhibit growth of the peracetic acid market in APAC.
PAA- grade among other PAA grades is likely to represent more than 15% demand in the global market of peracetic acid market. The PAA grades are likely to represent a relatively slow growth throughout 2024. This segment represented a revenue share of more than 46% in 2016. Over 2025, this segment is expected to gain a BPS of 130 in the APAC market. Food and beverages among other end users is expected to remain a major segment in the APAC peracetic acid market.
By 2016 – end, this segment for a revenue share of more than 27% in the global market. In addition, this segment is expected to gain 210 BPS in 2025 over 2024. Surge in demand for peracetic acid in the food and beverages industry for sterilizing food contact equipment services is further likely to fuel growth of the peracetic acid market in APAC. This segment is expected to register a relatively high CAGR of more than 9% during the projected period.
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China among other countries is expected to represent profitable opportunities for major market players. The peracetic acid market in China represented a major revenue share of 59.6% in the APAC peracetic acid market throughout 2024. Attributed to robust supply and manufacturing chain in China, the peracetic acid market is expected to witness significant growth during the predicted period. India among other countries will also register a significant growth for the peracetic acid market. Increasing number of foreign investors are mainly focusing on setting up production plants due to surge in demand for eco-friendly chemicals. Due to such factors, the peracetic acid market in APAC is expected to witness robust growth during the predicted period.
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Major market players operating in the APAC peracetic acid market include Evonik Industries AG, Tianjin Xinyuan Chemical Co., Ltd., Aditya Birla Chemicals Limited, National Peroxide Limited, Solvay Peroxythai Ltd., Acuro Organics Ltd., Mitsubishi Gas Chemical Company, PeroxyChem LLC, Qingdao Hisea Chem Co. Ltd., and MGI Chemicals Pvt. Ltd.
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Peracetic Acid Market: China to Represent a Lucrative Market Through 2024
According to a recent study by Persistence Market Research, the APAC peracetic acid market will register a CAGR growth of more than 8% during the forecast period, 2016 – 2024.