With the emergence and long-term Impact of COVID-19, the Global Peracetic Acid Market is to reach USD XX Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Peracetic Acid Market is poised to raise up to USD XX Billion by 2030. Peracetic acid is a strong and versatile oxidizing agent. It is a chemical compound with the formula CH₃CO₃H. Peracetic acid is a colorless liquid with a pungent odor, and it is highly reactive due to the presence of the peroxide and peroxy functional groups. The key factors driving the market growth are growing demand for water treatment procedures, rising focus on food sterilization and disinfection, and expansion in healthcare & life sciences that are anticipated to support the market growth during the projected period 2023-2030.
Additionally, the growing water and wastewater treatment sector has been a significant driver for the Peracetic Acid Market. Peracetic acid is a potent disinfectant and sterilization agent. In water and wastewater treatment, it is used to eliminate or control the growth of microorganisms such as bacteria, viruses, and fungi. As the demand for effective disinfection in water treatment plants increases, peracetic acid becomes a preferred choice due to its efficacy and ability to break down into environmentally friendly byproducts.
According to Statista, in 2022, the global water and wastewater treatment market was valued at USD 301.77 billion, and it is anticipated to reach USD 536.41 billion by 2030. As a result, the growing water and wastewater treatment is anticipated to support the market growth. Moreover, growing awareness of eco-friendly disinfectants and emerging applications across various industries is anticipated to create a lucrative opportunity for the market over the projected period. However, the high cost and low awareness about benefits stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Peracetic Acid Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the growing water and wastewater treatment plants, the presence of key market players, and the growing food and beverages industry. Whereas, the Asia Pacific is expected to grow with the highest CAGR over the forecast period, owing to factors such as the expansion in healthcare and pharmaceutical sectors, growing awareness of environmental benefits, and increasing demand in food and beverage industry.
The global Peracetic Acid Market is highly competitive owing to the presence of several key manufacturers such as Solvay (Belgium), Evonik Industries AG (Germany), Ecolab Inc. (US), Mitsubishi Gas Chemical Company, Inc. (Japan), Enviro Tech Chemical Services, Inc (US), Jubilant Pharmova Limited (India), National Peroxide Ltd. (India), and others.
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Key findings of the study suggest:
- Global Peracetic Acid Market is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030.
- In the application segment, disinfectant emerged as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to growing water and wastewater treatment plants.
- Asia Pacific is expected to grow at a high CAGR followed by North America during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
By Application:
- Sterilizer
- Disinfectant
- Sanitizer
- Other
By End-User:
- Healthcare
- Food & Beverages
- Water Treatment
- Pulp & Paper
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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