Global Peracetic Acid Market: Demand from Food and Beverage Industry to Encourage Market Growth at CAGR of 7.3%
Albany, NY -- (SBWire) -- 08/15/2018 --According to a recent market research report released by Transparency Market Research, the global peracetic acid market is estimated to expand at a CAGR of 7.3% during the period between 2014 and 2020. The report, titled "Peracetic Acid Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020", projects the global peracetic acid market to reach a valuation of US$652.9 mn by 2020. The overall market was worth US$398.7 mn in 2013.
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The report points out that growth of the food and beverage industry is anticipated to drive the peracetic acid market during the forecast period. Increase in demand from the water treatment industry will also fuel the market. However, the report notes that health hazards associated with continuous exposure to peracetic acid is anticipated to act as restraint to the global peracetic acid market. The Environmental Protection Agency has supported the acute exposure guidelines released by the American Conference of Governmental Industrial Hygienists (ACGIF). The ACGIF has set the short-term exposure limit for peracetic acid to 0.4ppm (parts per mn). This means that employers need to ensure that their workers are not exposed to peracetic acid above 0.4 ppm, calculated as a rolling time accounted over 15 minutes. The report states that the overall market has a huge opportunity to grow with reduced manufacturing cost of peracetic acid.
On the basis of end users, the report segments the global peracetic acid market into pulp and paper bleaching, food and beverages, medical, water treatment, agriculture, and others including household. In 2013, the food and beverages segment accounted for over 25% of the market and dominated the overall market. During the next couple of years, the segment is estimated to witness robust growth owing to increased consumption of food such as frozen meat products and beverages such as non-aerated and aerated drinks. Growing demand for safe and clean water for households and industrial applications will play a pivotal role in expansion of the water treatment segment in the market during the forecast horizon.
The report studies the global peracetic acid market across four key regions: Asia Pacific, North America, Europe, and Rest of the World. North America dominated the overall market in 2013 with a share of more than 30%. However, during the forecast period, Asia Pacific is expected to lead the peracetic acid market with growing demand from countries such as India and China. During the forecast horizon, surge in demand from the Middle East and Latin America will propel the growth of the peracetic acid market in Rest of the World.
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The report profiles some of the key players in the global peracetic acid market, such as Solvay S.A., Kemira Oyj, Evonik Industries, Promox S.p.A., Ecolab Inc., Mitsubishi Gas Chemical Inc., Thai Peroxide Limited, Diversey Inc., and PeroxyChem LLC.
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