Peracetic Acid Market Will Grow at 8.5% Up to 2025: Evonik Industries, Mitsubishi Gas Chemicals, Inc., Kemira Oyj, Solvay S.A., Thai Peroxide Ltd, Peroxychem LLC, SEITZ G
Report initially provides a basic overview of the industry that covers definition, applications and manufacturing technology, post which the report explores into the international players in the market.
Ocean View, DE -- (SBWire) -- 05/21/2020 --The pulp and paper bleaching end-user segment is a substantial division in the overall peracetic acid market and is likely to develop at a rate of nearly 8% in the upcoming years. Peracetic acid is mainly used in the pulp & paper sector to stop the formation of biofilms. The product is also utilized in the water industry as a purifier. In addition, the growing demand from end-user industries such as medical, pharmaceutical, and food & beverage would further augment the peracetic acid industry outlook over the estimated time frame.
According to a Global Market Insights, Inc., research report, the overall peracetic acid market is likely to surpass $1.2 billion by 2025. Moreover, the product is majorly used as a sanitizer across the brewing industry since it is very effective in clearing out microbial contamination. In fact, the substance is also considered an effectual sterilant against various fungi, bacteria, yeasts, and viruses. It also rapidly decomposes to water, oxygen, and acetic acid, and is considered to be highly reactive. Furthermore, owing to its inherent properties, it can be applied directly to food items since the substance does not leave behind any harmful residues.
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1. Evonik Industries
2. Mitsubishi Gas Chemicals
1. Kemira Oyj
2. Solvay S.A.
3. Thai Peroxide Ltd
4. Peroxychem LLC
5. SEITZ GmbH
7. Diversey Inc
8. Enviro Tech Chemical Services
9. Loeffler Chemical Corporation
10. Hydrite Chemical Co
11. Acuro Organics Ltd
12. Airedale Chemical Company Ltd.
Growth Drivers are
- Increased product demand in food and beverage industry
- Environment friendly traits of the product
The overall peracetic acid market is likely to witness tremendous growth in the coming years due developments across the global food & beverage sector. The product is used throughout the F&B sector as a disinfectant. Peracetic acid is basically utilized as a disinfectant across a plethora of segments of the overall F&B industry including meat and poultry products, dairy products, fruits & vegetables, beverages, pulses, and grains & cereals among others.
While having high reactivity, which allows rapid degradation of the material into harmless byproducts, it is also associated to a number of occupational hazards. If the chemical compound is ingested, inhaled or absorbed through dermal exposure, could cause severe side effects, which also includes death. The peracetic acid is normally sprayed on food packaging, animal carcasses, as well as produce to kill bacteria.
Human exposure could easily occur if the spray is not adequately contained. One more reason behind the rise of occupational hazards is the lack of proper ventilation. These above-mentioned factors may lay a negative impact on the market growth of peracetic acid.
In order to maintain the constancy of peracetic acid, it is basically commercially traded in a solution form, a mixture of acetic acid and hydrogen peroxide. The commercial grade of the solution ranges between 0.3% and 40% in terms of concentration by weight. The product demand in the solution form has been expanding in applications like agricultural, water treatment, pulp and paper bleaching, and medical among others.
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On the geographical front, APAC holds a substantial regional share of the global peracetic acid market and is projected to grow at an impressive CAGR of nearly 9% over the forecast timeframe. Rapidly growing product demand from countries such as India and China are anticipated to augment the APAC peracetic acid share throughout the analysis timeframe.
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Evonik Industries, Enviro Tech Chemical Services, Inc, Solvay S.A., Mitsubishi Gas Chemical Company, Inc., PeroxyChem LLC, Kemira, and Thai Peroxide Limited among others are the key players operating in the overall peracetic acid market.
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