The Peracetic Acid Market size was valued USD 615.0 million in 2017 and is projected to reach USD 989.2 million by 2023, at a CAGR of 8.27%, during the forecast period, as per a report by MarketsandMarkets.
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Why potential applications across various industries can lead to more opportunities?
The biocide industry is improving and is encouraging the use of peracetic acid in a large number of applications in different sectors. The ability of peracetic acid to replace chlorine, chlorine dioxide, hydrogen peroxide, aldehydes, sodium hypochlorite, and others is a valued trait which makes it the preferred product for industrial and commercial uses.
Owing to its benefits and unique features, the applications for peracetic acid are limitless. Other than food, healthcare, and water treatment applications, peracetic acid is being used in emerging applications such as breweries, laundry, wineries, chemical processing, and agriculture. These new applications are growing at a high rate, especially in the emerging countries of APAC.
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How high reactive nature of product poses a key challenge?
Peracetic acid is a complex solution with different concentration grades. It is a very corrosive, strong oxidizing agent and is more reactive than other available low concentration products. For instance, 35% peracetic acid grade is unstable and has explosive characteristics. It can be dangerous when it comes into contact with combustible materials or other chemicals. Global manufacturers are, however, offering stabilized peracetic acid to minimize such risks.
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