Albany, NY -- (SBWIRE) -- 09/25/2020 -- Disinfectant and oxidizing properties makes peracetic acid an important chemical for the paper and pulp bleaching industry. However, the applications of this colorless organic compound expands beyond the bleaching industry as it can also act as microbial agent for the medical, household care such as sanitizers, and water treatment. Additionally, horticultural and agricultural sectors are utilizing peracetic acid as a biocide. All these end users put together, the global peracetic acid market is estimated to generate revenue of US$652.9 million by the end of 2020, according to a recent business intelligence report by Transparency Market Research (TMR). The analyst of the report has projected the demand in the global peracetic acid market to expand at a formidable CAGR of 7.3% during the forecast period of 2014 to 2020.

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As far as the competitive landscape of the peracetic acid market is concerned, the TMR report has notified of a highly consolidated scenario, with Solvay S.A., Evonik Industries, Mitsubishi Gas Chemical Company, Inc., Diversey, Inc., PeroxyChem LLC, Kemira Oyj, Ecolab Inc., and Thai Peroxide Limited as some of the leading companies. These well-established players are regularly expanding geographically, strengthening their supply chain, and innovating in technology to retain their prominent positions. Most of these player are also concentrating on improving their technical customer care to troubleshoot applications.

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That being said, small and medium sized producers of peracetic acid also have a fair chance of making a mark as there are favorable regulatory policing by the governments. Most of the aspiring players of this market are targeting government agencies to carry out usage of peracetic acid for water treatment, such as Solvay's agreement with the Environmental Protection Agency (EPA) in the United States.

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Based on end users, the TMR report has explored the potential of demand for peracetic acid that can be expected out of the industries of water treatment, pulp and paper bleaching, food and beverages, medical, agriculture, and others. Currently, the food and beverage industry is providing for the most prominent chunk of demand, and is expected to remain dominant throughout the forecast period, although water treatment segment is primed to expand at an above-average CAGR.

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Geographically, North America is ruling when it comes to demand for peracetic acid, which can be attributed to flourishing food and beverage and water treatment industries. Asia Pacific, with vast population base, is also expected to provide for substantial demand towards the end of the forecast period.

Peracetic acid is fast replacing other biocides and the market for the same is gaining traction from approvals from the governments in North America and Europe. Potential applications across diverse industries are expected to be explored via research and development activities to further add to the demand. On the other hand, lack of awareness or knowledge regarding the benefits of this chemical and its high cost are a few challenges faced by the market.

Key Takeaways:

Global peracetic acid market to be worth over half a billion by the end of 2020
Overall shares are consolidated within a handful of well-established players, although new entrants also have substantial chances of creating a niche for themselves
North America is the most lucrative region, with the demand driven by the food and beverage and water treatment industries
The information presented in this review is based on a Transparency Market Research report, titled, "Peracetic Acid Market for Food and Beverages by End-user Analysis (Food and Beverages, Pulp and Paper Bleaching, Water Treatment, Medical, Agriculture, and Household) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020."