The global peracetic acid market size is estimated to be USD 813 million in 2020 and is projected to reach USD 1,685 million by 2030, at a CAGR of 7.6%, between 2020 and 2030. Peracetic acid is widely used as a disinfectant, sanitizer, bleach, sterilant, industrial reagent, oxidizer, and polymerization catalyst. It is a strong oxidizing agent and has stronger oxidation potential than chlorine or chlorine dioxide. Peracetic acid plays a vital role in the prevention of microbial growth. Global concerns, such as toxic & explosive materials, unwanted harmful process derivatives, end-use performances, and functionality of finished products can be resolved by using the peracetic acid solution, among other competitive products.
Many European and North American companies are focused on China and India to cater to the rising demand. Seeking high growth in the APAC region, many key companies have set up their manufacturing base, distribution network, or channel partners in the region. For instance, Kemira Ojy, a Finland-based company, has a manufacturing plant in Nanjing, China. The plant helps cater to the growing demand for water treatment chemicals in the APAC region. Such developments are expected to be vital for the growth of the peracetic acid market in this region.
Companies operating in the peracetic acid market are focused on different organic and inorganic growth strategies to expand their presence and increase their market shares, globally. New product development, partnership & agreement, and investment & expansion were the key growth strategies adopted by leading players in the peracetic acid market between 2016 and 2020 (September). Leading manufacturers of peracetic acid include Evonik Industries AG (Germany), Solvay SA (Belgium), Mitsubishi Gas Chemical Company (Japan), Ecolab Inc. (US), Enviro Tech Chemical Services (US), Kemira Ojy (Finland), Christeyns (Belgium), SEITZ GmBH (Germany), Jubilant Life Sciences (India), and Sopura (Belgium).
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