The study methodologies used to examine Peracetic Acid Market for the forecast period, 2020 - 2027 further classifies the industry by type, geography, end-use and end-user to add more precision and bring to light factors responsible for augmenting business development.
New York, NY -- (SBWIRE) -- 01/22/2021 -- Peracetic acid (PAA) is also known as peroxyacetic acid and is an organic chemical compound that can be highly corrosive. It is the result of the reaction between hydrogen peroxide and acetic acid. It is weaker than its parent acetic acid, and it is a colorless liquid. Peracetic acid has decomposition products such as acetic acid, water, and oxygen which makes it environment friendly as claimed by the professionals. It is diluted and sold in concentrates of 1 to 5% for use in the healthcare and food industries. On various food contact surfaces, peracetic acid is used at concentrations of 150-200 ppm. Exposure to PAA can irritate the skin, eyes, and even the respiratory system. At a CAGR of 8.5%, the global peracetic acid market is expected to reach USD 1307.09 Million by the year 2027, as per Reports and Data.
Companies considered and profiled in this market study
BioSafe Systems, Peroxy Chem, Airedale Chemical, Evonik, Aditya Birla Chemicals, FMC Corp. and Solvay S.A.
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The Peracetic acid market is doing great at the global level. It has a wide range of applications, mainly in the food and healthcare industries. The expansion of this industry at the global level is driven by various factors. One such major factor is the need of improving public health and assuring food safety. The awareness of sanitary practices is another big factor that cannot be avoided. Additionally, the paper and pulp industry has higher demands for peracetic acid. Also, it is being used in sanitizers, sterilizers, and disinfectants which also plays a great role in increasing sales robustly.
For the purpose of this report, Reports and Data has segmented the Peracetic Acid market on the basis of type, application, end use and region:
Application (Revenue, USD Million; 2016–2026)
Bactericide and fungicide
Type (Revenue, USD Million; 2016-2026)
End Use (Revenue, USD Million; 2016–2026)
Food and Beverage:
Meat, Poultry and Seafood
Medical and Healthcare
Paper and Pulp
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The fastest-growing region is none other than the Asia Pacific. The rapid industrialization and awareness among people are specific reasons for growth. Owing to food and water safety awareness, North America is successful in holding the maximum number of shares. Each of the sterilization and sanitization applications is expected to grow at a CAGR of 7.6%.
Further key findings from the report suggest
North America and Europe dominate the market due to the technologically advancements and the continuous research and development in this field. In addition to these factors another factor contributing to the growth of these regions is the widespread awareness about food safety and improving health.
North America is expected to grow at a CAGR of 8.3% while Europe is expected to register a CAGR of 8.2%.
Asia Pacific is expected to grow at a CAGR of 9.4%. Emerging economies such as China have become a major hub for manufacturers due to the abundance of resources and availability of labor.
Corporate working hours and increasing female working population is propelling the packaged food demand globally thus, making use of Peracetic acid for packaging of utmost importance. The demand has furthermore increased due to an increase in the demand for frozen foods…Continued
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