Transparency Market Research (TMR) has announced the publication of a new market study. The new study examines the global peracetic acid market and presents forecasts based on an extensive analysis of the market’s present conditions. The report is titled ‘Peracetic Acid Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020’ and is available for sale on TMR’s official website.According to the report, the global peracetic acid market was valued at US$398.7 mn in 2013. Exhibiting a steady 7.3% CAGR between 2014 and 2020, the market is expected to rise to a valuation of US$652.9 mn.
Peracetic acid is a disinfectant and oxidizing agent used in several applications. It is formed by reacting hydrogen peroxide and acetic acid. It is a colorless liquid with a faint smell of acetic acid. Peracetic acid can be produced in various grades, depending on the end use; the grade determines how concentrated the peracetic acid is in the solution. Weaker solutions of peracetic acid are used as disinfectants, whereas stronger grades are usually used as an excellent oxidizing agent.
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The most common use of peracetic acid, according to 2013 numbers, was as a disinfectant in food and beverages. The food and beverage industry accounted for more than 25% of the global peracetic acid market in 2013. The ever-increasing demand for food is thus a major factor driving the global peracetic acid market. Due to the increasing urbanization in developing economies, the demand for packaged foods has risen spectacularly in the last few years. This has led to a corresponding increase in the demand from the global peracetic acid market.
On the other hand, fluctuations in the prices of raw materials are expected to restrain the global peracetic acid market.
Water treatment is another emerging application segment of the global peracetic acid market. The rising demand for clean water from residential and industrial complexes has thus become a crucial factor for the global peracetic acid market.
Regionally, the global peracetic acid market was dominated by North America in 2013. The regional market took up more than 30% of the global market due to the high demand for packaged food in North America. The rising attention paid by the government to the crucial field of water treatment is another driver for the North America peracetic acid market.
Despite North America’s dominance, Asia Pacific is set to be the fastest growing regional segment of the global peracetic acid market in the forecast period. The high demand for packaged food and clean water from the region’s burgeoning middle class has boosted the peracetic acid market.
The key players in the global peracetic acid market are Mitsubishi Gas Chemical Company, Inc., Ecolab Inc., Solvay S.A., Diversey Inc., Evonik Industries, PeroxyChem LLC, Kemira Oyj, and Thai Peroxide Ltd. These companies are profiled in the report in order to provide precise data about the market’s competitive dynamics to the readers.
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