Healthcare Disinfection Is Estimated To Witness High Growth Owing To Rising Demand For Enhanced Disinfection

 

Peracetic Acid Market 

The Peracetic Acid Market is estimated to be valued at US$ 1014.03 Mn in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:
Peracetic acid is an organic compound with the chemical formula C2H4O3. It is commonly used as a sterilizing and bleaching agent. Peracetic acid is produced through an equilibrium reaction between acetic acid and hydrogen peroxide. It is used as a surfactant, disinfectant and bleaching agent in healthcare, food & beverage processing and other industries due to its effective antimicrobial properties.

Market Dynamics:
The growth of the peracetic acid market is mainly driven by rising demand from healthcare industry for enhanced disinfection and sterilization of medical equipment and devices. Peracetic acid's effectiveness against various microorganisms like bacteria, fungi, and viruses has resulted in its increasing adoption for disinfection of hospitals, clinics and other healthcare facilities. Furthermore, peracetic acid is increasingly used in food & beverage processing as a disinfectant and sanitizer to eliminate pathogenic bacteria from food surfaces, equipment and processing facilities. Growing concerns regarding food safety and public health has augmented the consumption of peracetic acid in this industry.

SWOT Analysis

Strength:Peracetic acid has strong antibacterial and antiviral properties allowing it to be used as a disinfectant in various industries like food, healthcare, water treatment etc. It is colorless and leaves no residue making it an attractive alternative to chlorine. Its rapid decomposition into oxygen, water and acetic acid ensures minimal environmental impact.

Weakness: Peracetic acid is highly corrosive and toxic in concentrated form requiring safe handling and storage. Its production process involves hazardous chemicals like hydrogen peroxide and acetic acid increasing manufacturing costs.

Opportunity: Growing demand from food industry for safer and organic disinfectants is driving the peracetic acid market. Strict regulations regarding use of chlorine in food processing and rising seafood exports offer opportunities. Increasing waterborne diseases has led to its use in municipal water treatment in developing nations.

Threats: Availability of alternative disinfectants like chlorine, alcohols and bromine poses competition. Regulations limiting its use can hinder growth. Economic slowdowns can negatively impact markets like healthcare and food industries which are major end-users.

Key Takeaways

The Global Peracetic Acid Market Size is expected to witness high growth, exhibiting CAGR of 7.8% over the forecast period, due to increasing demand from food industry for safer disinfectants and rising awareness about health and hygiene.

Regional analysis: North America dominates peracetic acid market currently owing to stringent regulations and established food processing and healthcare industries. Asia Pacific is fastest growing market driven by increasing per capita food consumption, Exports of seafood and growing healthcare infrastructure in countries like China and India.

Key players: Key players operating in the peracetic acid market are Kemira Oyj, Solvay S.A., Promox S.p.A., Evonik Industries, Ecolab Inc., Thai Peroxide Limited, Mitsubishi Gas Chemical Company, Inc., PeroxyChem LLC and Diversey Inc. These players are focusing on capacity expansions and new product developments catering to demand across application segments.

Read More - https://www.dailyprbulletin.com/food-industry-incorporate-the-actual-segment-name-contributing-the-largest-market-share-for-given-market-is-the-largest-segment-driving-the-growth-of-peracetic-acid-market/

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