While cleanliness and maintaining hygiene comprise important part of our daily routine, various companies have adopted enhanced technologies. However, more than the technology, various industries and residences need enhanced quality of cleaning agents. Companies such as Fetzer Vineyards had adopted peracitic acid for cleaning and maintaining its wine tanks as it requires relatively less rinsing. Fetzer Vineyards witnessed relatively less energy needed to pump the water and reduction of 200,000 gallons of water annually due to adoption of peracitic acid. Moreover, Brenntag and Evonik entered into collaboration, and introduced peracitic acid grades and hydrogen peroxide for the cosmetic manufacturers, as well as drugs and pharmaceuticals industry.
Need for Peracitic Acid
Surge in need for cleaning agents in various industries and residential place is escalating the demand for peracitic acid in the coming years. Recently, the peracitic acid was claimed to be the most effective cleaning chemicals among others for killing virus that can hamper health such as Zika unless they are suspended in blood.
Apart from disinfecting purposes in the medical sector, the peracitic acid among other disinfectors is increasingly used in the food and domain sector for sanitization purpose. Moreover, there is an increase in demand for aseptic packaging of beverages and food related products that ensure hygiene. Increasing fishing activities have led to an upsurge in demand for peracitic acid in the coming years. Due to increasing parasites in the pond, fishes and various other marine life is subject to various parasites. Moreover, due to increasing fishing activities, the peracitic acid witnesses increasing demand in order to remove parasites and control their growth in the span of next eight years. Such factors will further contribute towards growth of the APAC peracitic acid market in the coming years.
Regulations of Government
Imposition of various regulations by government organizations such as environment protection agency has exempted the application of the peracitic acid for residual purposes as it breaks down into oxygen, water and carbon di oxide. Whereas, the U.S. environmental protection policy has labelled peracitic acid as an antimicrobial agent. Furthermore, the peracitic acid helps in decomposing medical wastes such as drugs, organic and pathological wastes apart from killing pathogens. Additionally, the peracitic acid has relatively high efficiency as a disinfectant and bleaching agent. Due to such factors, the peracitic acid mainly finds application as a disinfectant and for sanitizing purposes.
Detergents, agrochemicals and others segment among various segments will witness an impressive CAGR growth in the span of next eight years. Whereas, household cleaning solutions, cosmetics and dairy products among others segment will lose 10 BPS in the coming years. However, the water treatment segment will continue to account for relatively high value, but low growth over the years. The food and beverages industry segment, on the other hand is likely to witness speedy progress in the span of next eight years. Additionally, the food and beverages industry in the APAC region will witness 9.1% CAGR growth over the coming years.
APAC region will witness an increasing growth in the peracitic acid market due to bulk production and lenient rules and regulations imposed by the government in various countries. The agrichemical segment in India will lose over 45 BPS in the coming years. Whereas, other segments are likely to witness significant growth in the India peracitic acid market over the years. Furthermore, Japan will witness a significant growth and the market in Japan is likely to gain over 8 BPS in the coming years.
While there are a range of disinfectors and sanitizers available in the global market, the peracitic acid attributed to its high efficiency as a disinfectant has witnessed a significant demand in various domains, and is likely to continue to witness an upsurge in demand by the end of 2024. Furthermore, due to the emphasis on the regulations imposed by the government, the peracitic acid will further witness a boost in growth over the coming years in the APAC peracitic acid market. While there are various drivers and few restrains, majority of the organizations operating in the medical and industrial sector are increasingly adopting peracitic acid as a solution for disinfecting and sanitizing purposes.
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