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China Will Continue to be the Most Lucrative Market for Peracetic Acid in Asia Pacific
A study conducted by Persistence Market Research (PMR) on “Peracetic Acid (PAA) Market: Asia
Pacific Industry Analysis and Forecast 2016–2024,” projects the APAC peracetic acid market to
surpass 164 Million, expanding at over 8% CAGR over 2024.
Growing preference for peracetic acid over chlorine across various industrial domains in Asia
pacific is expected to influence the overall growth of the peracetic market in the region. In recent
years, the application base of peracetic acid has expanded to a significant extent. On the contrary,
demand for peracetic acid from food & vegetables processing aids, healthcare textiles (HCT),
industrial cleaning, aseptic filling & packaging, meat & poultry processing aids and water treatment
industries is scaling at a healthy pace.
Key factors expected to shape the peracetic acid market in Asia Pacific during the next eight
years
A better alternative to chlorine as an oxidant agent for industrial cleaning, textile industry and in
other purification purposes. Peracetic acid is an effective disinfectant and finds robust use in
various industries in the form of purifiers, cleaners and as sanitizing agents. In addition, growing
demand for peracetic acid as sanitizing agents in packaged food and vegetables for prevention of
microbial contamination is likely to play a major role in stimulating the market growth in Asia
Pacific. Peracetic acid contains properties of bleaching agent, easy environmental degradation, and
non-toxicity. Hence, making the product a safe sanitizer that can be used in consumable products.
In contrast, high volatility of PPA above 17% and associated risks with logistics can restrain the
growth of the market. Likewise, adverse side-effects on health due to excessive exposure of
peracetic acid on the surface of the skin, through oral intake or inhalation.
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Based on PPA grade, demand for PAA- grade above 15% is expected remain high as compared to
other PAA grades. While, growth in demand for other PAA grades will be sluggish during the
forecast period. By 2016 end, the PAA- grade above 15% segment is estimated to occupy for over
46% value share of the market and is anticipated to gain 130 BPS over 2025.
By end-use, food and beverage is anticipated to be the leading segment during the forecast period.
In addition, the segment is projected to account for over 27% value share of the market by the end
of 2016, gaining a BPS of 210 over 2025. This is primarily owing to the growing demand for
peracetic acid from the F&B industry for sterilizing food contact surface equipment. In addition, the
segment is set to witness a value CAGR of over 9% between 2016 and 2024.
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Region-wise, the market in China is projected to present lucrative business opportunities for leading
players. The China peracetic acid market is projected to increase by 350 BPS during the forecast
period. By 2016-end, China is estimated to account for mammoth 59.6% share of the market in
terms of value. The market growth in China is largely attributed to the existence of a strong
manufacturing and supply chain in the country that is comprehensively sustaining the growing
demand for peracetic acid in the country as well as in the region. Likewise, India is another country
were the market is estimated to exhibit a significant growth over the next couple of years. In the
recent past, the country has attracted a healthy number of foreign investors who are planning to
setup production plants in the country as demand for eco-friendly alternative chemicals is on the
rise.
Key stakeholders in the peracetic acid market in the Asia Pacific region include Tianjin Xinyuan
Chemical Co., Ltd., Evonik Industries AG, National Peroxide Limited, Aditya Birla Chemicals
Limited, Acuro Organics Ltd., Solvay Peroxythai Ltd., PeroxyChem LLC, Mitsubishi Gas Chemical
Company, MGI Chemicals Pvt. Ltd., and Qingdao Hisea Chem Co.Ltd.
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