The Emergence of COVID-19 to Augment the Peracetic Acid Market Growth

Peracetic Acid Market


 Peracetic acid (PAA) is an organic chemical compound widely used across disinfectant applications, such as disinfectant during water treatment, sanitizer in the food industry, and chemical disinfectant in healthcare. Peracetic acid is considered as one of the most effective agents after ozone and is produced by using acetic acid and hydrogen peroxide. 

It is used as an antimicrobial in various industrial as well as household processes, such as breweries, wineries, pasteurizers in beverage, food establishment, agricultural processes, medical facilities, dairy processing plants, lavatories, etc. The natural form of this compound is known as peracetic acid or simply peracetic. There are different forms of this acid available in the market as both as oils and as a powder.

Market Dynamics:

Increasing demand for sanitizers, disinfectants, and cleaning supplies due to the COVID-19 outbreak is expected to propel the growth of the peracetic acid market over the forecast period. For instance, in July 2020, NxGen announced the addition of (the United States Environmental Protection Agency (EPA) and the Food and Drug Administration (FDA) registered new product line of commercial, industrial, and residential cleaning supplies, disinfectants, and sanitizers. 

Moreover, increasing demand for peracetic acid in various end-use industries such as water treatment, healthcare, food and beverage, etc. is expected to drive the peracetic acid market growth. For instance, in 2019, the Delhi Jal Board, India planned to set up a new sewage treatment plant in New Delhi to restore the water quality of the heavily polluted Yamuna River. 

The benefits of peracetic acid over other substitute biocides and growing awareness among people about hygiene are expected to augment the market growth. FMCG (Fast-moving consumer goods) companies ramp up launch of home, personal hygiene products. For instance, in May 2020, CavinKare announced the launch of the Bacto-V brand of disinfectant products. However, lack of awareness among end-user about the product and high production cost is expected to hamper the growth of the peracetic acid market.

Competitive Analysis:

Key players operating in the peracetic acid market include 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.

The peracetic acid market is witnessing significant M&A activities. For instance, in June 2020, Evonik, a chemical company, acquired PeroxyChem a manufacturer of peracetic acid and hydrogen peroxide.

Moreover, in July 2017, Evonik Industries introduced new disinfectant active Hyprox AS to meet growing demand.

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