Global Peracetic Acid (PAA) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Peracetic Acid (PAA) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Peracetic acid (also known as peroxyacetic acid, or PAA), is an organic compound. It is a clear colorless liquid with a characteristic pungent odor reminiscent of household vinegar. All commercially available PAA products contain equilibrium of PAA, hydrogen peroxide, acetic acid, and water. Its formula is CH3CO3H

Market Overview:

The latest research study on the global Peracetic Acid (PAA) market finds that the global Peracetic Acid (PAA) market reached a value of USD 780.2 million in 2022. It’s expected that the market will achieve USD 1236.5 million by 2028, exhibiting a CAGR of 7.98% during the forecast period.

Demand for peracetic acid in emerging countries such as the Asia Pacific region is expected to keep grow in the coming years.

Asia Pacific is a rapidly developing region with many emerging countries. This leads to many opportunities for industry players who are willing to invest in these areas. The rising demand for peracetic acid from the key industries such as food & beverage, healthcare, water treatment, and others, from India, China, Japan, among other countries, is projected to drive the growth of the peracetic acid market in the region.

The government supports the growth of peracetic acid in water treatment.

PAA finds widespread applications in water treatment. It does not decompose into environmentally harmful by products thus is being favored by government agencies such as EPA. Also, it is cost-effective as well as efficient as compared to other options such as sodium hypochlorite. All these factors are expected to benefit the demand from water applications over the next few years.

The adverse effects of peracetic acid on humans may hinder market growth.

Peracetic acid is an organic compound known for its high corrosiveness. Prolonged contact to peracetic acid could have adverse health effects such as allergy and irritation to skin, eyes, etc. Moreover, higher concentration of peracetic acid can also cause respiratory symptoms and other such severe health hazards. These factors may result in slower peracetic acid market growth in the forecast period

Region Overview:

North America is projected to account for a considerable share of the Peracetic Acid (PAA) market and is expected to become the largest region by 2028.

Company Overview:

Solvay SA is one of the major players operating in the Peracetic Acid (PAA) market, holding a share of 14.63% in 2023.

Solvay SA

Solvay SA manufactures chemicals and plastics. The Company produces soda ash, hydrogen peroxide, functional polymers, silica, surfactants, food and fragrance flavors, and other specialty polymers. Solvay offers its products to numerous industries, including the aerospace, alternative energy, automotive, chemical, construction, consumer goods, food and beverage, and oil and gas markets.

Evonik Corporation

Evonik Corporation manufactures specialty chemicals. The Company offers surface protection chemicals, specialty bonding agents and auxiliaries, polymers, fumed silica, propellants, nitrogen and sulfur containing fertilizer solution, agricultural chemicals, butadienes, butene, catalysts, composites, construction chemicals, resins, heat-seal lacquers, and glazings.

Segmentation Overview:

As for product types, the 5%-15% PAA segment held the largest market share in 2022.

Application Overview:

By application, the Food & Beverages segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Peracetic Acid (PAA) market covered in Chapter 3:

Mitsubishi Gas Chemical
Solvay
Evonik
FMC Corporation
BioSafe Systems
PeroxyChem
Kemira
Biosan
Enviro Tech Chemical
Christeyns

In Chapter 4 and Chapter 14.2, on the basis of types, the Peracetic Acid (PAA) market from 2018 to 2029 is primarily split into:

5%-15% PAA
Less than 5% PAA
Above 15% PAA

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Peracetic Acid (PAA) market from 2018 to 2029 covers:

Food & Beverages
Water Treatment
Healthcare
Pulp & Paper
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)