Peracetic Acid Market Regional Analysis:
APAC Market Insights
The Asia Pacific peracetic acid market, amongst the market in all the other regions, is projected to grow at the fastest rate by the end of 2035. China should play a significant role in the regional market growth in the Asia Pacific region. Moreover, China is one of the major producers of chemicals in the world. The country also stands out as a main hub for the processing and production of specific chemicals such as hydrogen peroxide. It is estimated that the demand for hydrogen peroxide in China, which stood at about 363000 tons in 2020, should surpass 654000 tons by 2030. Peracetic acid is one of the major raw materials in the production of hydrogen peroxide. Hence, this projected increase in hydrogen peroxide demand is expected to be favorable for regional market growth. Further, the increasing demand for peracetic acid in different industries in China and other developing countries in the region, such as Japan and India, should benefit the chemical's regional market. The massive consumption of water for domestic, municipal, agricultural, and industrial purposes in China and India is expected to surge the market’s growth in the Asia Pacific.
Europe Market Insights
Europe is the region that is expected to hold the largest market share in the market by 2035. The regional market growth in Europe is expected to be driven majorly by the priority given to the treatment of wastewater by the different nations in the region. Many countries in Europe, such as Belgium, France, Norway, and Finland, had more than 80% of their population connected to a wastewater treatment plant in 2020. In places such as the Netherlands, Luxembourg, and Denmark, the share of such population ranged between 90 and 100%. Another factor that is expected to benefit the market for peracetic acid in Europe is the vast presence of various end-user industries. Also, new processes followed in Europe, including membrane filtration and UV disinfection, are also thought to influence the market’s growth favorably.
