Peracetic Acid Market Trends

Growth Drivers

• Rapid Growth of the Food Processing Industry in Different Parts of the World - Food processing is an important sector in all parts of the world. It is through food processing that food is made more safe, edible, and palatable for consumers. Food processing also brings a variety of choices of products to consumers. The improvement in the shelf life of the food products from processing should help farmers in the better storage and transportation of their agricultural produce. Thus, food processing plays a very significant role in the economic development of a nation. For instance, as per the Ministry of Food Processing Industries under the Government of India, the food processing sector contributed to 1.69% of the total Gross Value added (GVA) in the nation in 2019-20.

• Effective Waste Water Treatment Measures World Wide - For instance, the European Union has a strong urban wastewater treatment directive that has helped improve the quality of the waterbodies in the region over the years significantly. Further, according to the Organization for Economic Co-operation and Development (OECD), 99.5% of the population in the Netherlands was connected via a public sewage network to a wastewater treatment plant in 2020. Peracetic acid is a strong disinfectant of wastewater, as about 91% of its effects can be observed within a minute. Hence, the evolving wastewater management systems in the world, which also emphasizes eco-friendliness, are expected to lead to market growth.

• Rapid Rise in the Demand for Cleaning Products All Over the World - Even at a low concentration, peracetic acid acts as an effective antimicrobial. This trait of the chemical is relevant for its market growth in the days to come as the demand for cleaning products has risen unprecedentedly following the pandemic. For instance, there was a growth of about 385% in the sales of aerosol disinfectants alone in the United States (U.S.) in 2020.

• Significant Rise in the Production of Poultry Meat World Wide - Peracetic acid is an approved cleaning agent, disinfectant, and anti-microbial in the processing of chicken and other poultry meat. It is also used to disinfect the equipment used in poultry processing. Hence, the rising production of various kinds of poultry meat is expected to lead to market growth. For instance, the total volume of broiler meat produced in the world was observed to increase from about 93 million metric tons in 2018 to more than 100 million metric tons in 2021.

Challenges

• Threat Posed by the High Reactivity of Peracetic Acid - Peracetic Acid of ~36% has been observed to have characteristics similar to explosives. The different concentration rates make peracetic acid a complex solution. Carelessness could lead to dangerous reactions when unstable peracetic acid comes into contact with other solutions or combustible materials. Further, peracetic acid also exhibits high corrosiveness and strong oxidizing features.
• Health Hazards that Result from the Prolonged Use of the Chemical
• Lack of Awareness of the Various Effects of Peracetic Acid