Asia Pacific Peracetic Acid Market Predicted To Reach 164 Million By 2024

A report published by Persistence Market Research (PMR) reveals that the market for peracetic acid in APAC is set to cross US$ 164 Million, surging at a CAGR of more than 8% during 2016 to 2024.

Increasing demand for peracetic acid from various industrial stratum existing in Asia Pacific is anticipated to influence the peracetic market growth in the region. Moreover, expanding application based on peracetic acid in sectors such as healthcare textiles (HCT), food & vegetables processing aids, aseptic filling & packaging, water treatment industries, industrial cleaning and meat & poultry processing is a majorly responsible for the overall market growth.

The PMR report delivers key insights on factors driving APAC peracetic acid Market. Peracetic acid is relatively a better oxidant agent than chlorine, which is used in textile industry, industrial cleaning and in other purification purposes. Being an effective disinfectant, peracetic acid finds robust usage in the form of sanitizing, cleaners and purification agents. Further, rising demand for peracetic acid for sanitization of packaged food and vegetable items in order to prevent microbial contamination is also anticipated to drive the market growth. Peracetic acid has the properties of bleaching, non-toxicity and can easily degrade in the environment. However, high impulsiveness of PPA above 17% and logistical inconvenience may deter the surging spirit of the market. Excessive exposure to peracetic acid through oral intake or inhalation may lead to adverse side-effects on health.

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By PPA grade, PAA above 15% is expected to remain as the predominant grade throughout the forecast period. While demand for other PAA grades will continue to be modest over the assessment period. In 2016, the PAA grade above 15% is projected to capture for more than 46% share of the market in terms of value.
Based on end-use, food and beverage is projected to the dominant segment, accounting for more than 27% value share of the market in 2016. This is majorly attributed to the increasing usage for peracetic acid in the F&B sector for sterilizing food contact surface equipment. Further, the segment is expected to surge at over 9% CAGR in terms of value between 2016 and 2024.

On the basis of region, amongst the all the countries in APAC region, China observably leads the peracetic acid market. The China peracetic acid market is estimated to gain 350 BPS over the forecast period. In 2016, China is projected to register for a staggering 59.6% value share of the market in APAC. The existence of a strong manufacturing and supply network in China is supporting the overwhelming growth of the market in the country. In India, the market is expected to witness a healthy growth in the near future. The country has been successfully attracting healthy investment from oversea companies planning to build production facilities in the country.

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Key market participants in the APAC peracetic acid market include Qingdao Hisea Chem Co.Ltd., Ltd., Evonik Industries AG, Acuro Organics Ltd., Mitsubishi Gas Chemical Company, Tianjin Xinyuan Chemical Co., MGI Chemicals Pvt. Ltd., Aditya Birla Chemicals Limited, PeroxyChem LLC, National Peroxide Limited, and Solvay Peroxythai Ltd.

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