This report provides exclusive insights into the COVID-19 impact on the Peracetic Acid Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Peracetic Acid Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Peracetic Acid Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on the peracetic acid market provides an in-depth analysis of segments and sub-segments in the global as well as regional peracetic acid market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional peracetic acid market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global peracetic acid market. According to the report, the global peracetic acid market is projected to grow at a CAGR of 8.65% over the forecast period of 2018-2024.
Peracetic acid is a colorless liquid with a strong, pungent acrid odor. It is mainly used as a bactericide and fungicide, especially in food processing. It is a very effective antimicrobial compound. It is used as a reagent in making caprolactam and glycerol and as an oxidant for preparing epoxy compounds. Peracetic acid is used as a bleaching agent, a sterilizing agent, and as a polymerization catalyst for polyester resins. It is an environmentally friendly compound as it hydrolyzes to acetic acid and hydrogen peroxide in water.
The growing demand for food safety in food processing and beverage industries is the major factor for the growth of the peracetic acid market. Peracetic acid is not only an effective compound for reducing the risk of microbial contamination in food products but also does not leave any harmful residues when applied directly to food. These characteristics such as good efficacy, essentially no toxic residues, easy application, and relatively low cost have made peracetic acid an increasingly popular antimicrobial in many food and beverage-related industries. The growth in water treatment procedures across the developing regions is anticipated to boost the peracetic market over the forecast period. They are being used as a low capital alternative to UV, chlorine dioxide and ozone for disinfection in municipal wastewater plants.
Furthermore, the increasing applications of peracetic acid in the healthcare sector fuels the growth of the peracetic acid market. However, lack of awareness about the benefits offered by the peracetic acid hampers the growth of this market. The severe health implications caused by extended exposure and usage of peracetic acid in higher concentration possess as a threat to the market growth. Moreover, the escalating demand for bio-based chemicals and increasing applications for peracetic acid across various industries generates growth opportunities for this market over the forecast period.
The Asia Pacific region dominates the peracetic acid market. The rapid rise in industrialization and the growth of water treatment and food and beverage industries primarily drives the market in this region. The increasing government investments and a growing focus on more sustainable water treatment and management solutions create a positive impact on the growth of the peracetic acid market. North America is the second largest revenue contributor in the global peracetic acid market owing to the increasing government regulations to ensure food safety in the food industry.
The report on global peracetic acid market covers segments such as application, and end-user. On the basis of application, the sub-markets include sanitizer, disinfectant, sterilant, and others. On the basis of end-user, the sub-markets include food & beverages, pulp & paper, healthcare, water treatment, medical, agriculture, and others.
The report provides profiles of the companies in the market such as Chemtex Speciality Limited, BioSafe Systems, LLC, Quaron S.A.S., Novadan APS, STOCKMEIER Gruppe, Proxmox Server Solutions GmbH., Aditya Birla Chemicals, SEITZ GmbH, The Lubrizol Corporation, and Mar Cor Purification, Inc.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the peracetic acid market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.