Peracetic Acid Market to Witness Comprehensive Growth by 2020
It
has been extensively used in paper and pulp bleaching industry
because of its strong oxidizing properties. Another property which
has made the peracetic acid market in such a high demand is the fact
that it can acts as microbial agent, which makes it an important
asset in medical, water treatment industries, and household care.
Peracetic acid can be used as sanitizing disinfectant agent in
various industry. Other application of the peracetic acid market is
that it can be used as valuable biocide in horticultural and
agricultural industries. Rise in food and beverage industry all
across the world due to incessant rise in population is likely to
become the fastest growing segment of the market in the years to
come.
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Rapid
growth of population due to irregular family planning in most part of
the world is triggering the demand for food and beverages as frozen
meat, non- aerated and aerated drinks, and poultry, is likely to
boost the demand for peracetic acidic market across the worldwide.
Apart from these, the rise in awareness among consumers regarding the
availability of clean drinking water, and hygiene, as the regions are
more vulnerable towards microbial infection, particularly in frozen
food, thus raising the demand for peracetic acid in the market.
Amongst all the other region, North America dominates the market by
holding the major share of the market. The global market for
peracetic acid likely to expand at CAGR of 7.3% by 2020. The market
is anticipated to be valued at US$652.9 mn by the assessed period
2014-2020.
Food
and Beverages Industry to Promote the Growth of Global Peracetic Acid
Market
The
global peracetic acid market is classified on the basis of end-user
analysis which consists of water treatment, pulp and paper bleaching,
and food and beverages, households, agriculture, medical and others.
It has been anticipated that the surge in demand for peracetic acid
worldwide in the end-user segment such as food and beverages, and
water treatment is likely to provide boost in the growth of the
market in the years to come. It has been noticed that the frequent
fluctuations in the cost of raw materials accompanied with the
harmful side effects of peracetic acid when exposed is likely to
deter the growth of the market during the forecast period. However,
it has been noticed that the mass production of peracetic acid as it
going to reduce the price thus creating a lucrative opportunity for
the market to grow in future.
Developing
Countries to Make Asia Pacific the Fastest Growing Region
Geographically,
the global peracetic acid market is split into North America, Europe,
Rest of the World, and Asia Pacific. High demand of peracetic acid in
industries such as water treatment and food and beverages industry is
prognosticated to push the growth of the market, particularly in the
North America during the assessed period. Asia Pacific region is
expected to become the fastest growing market during the predicted
period. Emerging economic countries in the region such as China, and
India is likely to experience a sudden surge in demand for peracetic
acid, from various industries, thus promoting the growth of the
market. In North America and Europe, the demand is anticipated to
witness a steady rise due to the constant economic recovery in
various parts of Europe and the U.S. The peracetic acid market is
predicted to witness a demand in Latin America, and Middle East
during the forecast period, thus pushing burgeoning the growth of the
market in the rest of the world.
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Major
players in global peracetic acid market are Evonik Industries,
PeroxyChem LLC, Ecolab Inc., and Thai Peroxide Limited.
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