LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global peracetic acid market is projected to grow to USD 770.19 million by 2021, at a CAGR of close to 8% over the forecast period.
This research report titled ‘Global Peracetic Acid Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Peracetic acid (PAA) is commercially sold in its distilled form or as a diluted (1%-50%) solution containing acetic acid, hydrogen peroxide, and water. PAA is commonly in the food and beverage, paper and pulp, healthcare, and oil and gas, and wastewater treatment industries.
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Based on application, the report categorizes the global peracetic acid market into the following segments:
The top three revenue-generating application segments in the global peracetic acid market are discussed below:
“PAA disinfectants are the most popular offering in the market, responsible for generating over 46% of the overall revenue. Rising awareness over cleanliness and increasing demand from the developing countries have contributed to the rapid growth in the use of disinfectants,” says Ajay Adikari, one of the lead analysts at Technavio for specialty chemicals research.
PAA disinfectants are one of the safest due to the eco-friendly nature of residues it leaves behind. Additionally, it is capable of operating efficiently over a wide range of temperatures and pH. The chemical is also found to be more effective than other common disinfectants and is suitable for sensitive applications in the food and beverage and medical industries.
Sanitization refers to cleaning any surfaces that may come in direct contact with humans, such as utensils, toys, and glasses. PAA is an effective sanitizer as it can act against a wide range of microorganisms, can operate even in cold conditions, and can remove biofilms. The global PAA market in the sanitizer segment is expected to grow at a steady rate over the forecast period, owing to the wide applications of PAA in the sanitation of industrial processing equipment.
“Sterilants are agents, which can potentially eliminate bacteria, fungi, viruses, and spores. Peracetic acid is an effective sterilant with negligible side effects, thus, gaining wide acceptance in the healthcare sector,” says Ajay.
The global PAA market in the sterilant segment is expected to grow at a sedated pace, reaching a value of over USD 110 million by 2021. However, the use of innovative heat and chemical-resistant materials in the manufacture of surgical equipment is opening the market for alternate sterilizing methods involving X-rays, gamma rays, and dry-heat.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Mitsubishi Gas Chemical Company
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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