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Peracetic Acid Market Analysis by Size, Share, Growth, Trends
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Peracetic acid, also recognized as peroxyacetic acid, is a colorless liquid with a pungent odor, acclaimed for its versatility as an antimicrobial and antioxidant agent. Widely employed as a bactericide and fungicide, especially within the food processing sector, it finds utility in disinfecting equipment, surfaces, reservoirs, plastic bottles, and pipes.
The escalating demand for peracetic acid from the food and beverage industry emerges as a pivotal growth driver for the global market. Its extensive usage in food processing and product packaging, encompassing juices, soft drinks, milk, and tea, underscores its significance. Acting as an efficient fungicide and bactericide, it sanitizes food contact surfaces and aids in preserving the quality of consumables without imparting undesirable flavors or odors.
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Segmentation of the global peracetic acid market based on application, end-use industry, and region is meticulously detailed in the report, supported by graphical and tabular representations for enhanced comprehension. This segmentation facilitates stakeholders, investors, and entrants in strategizing their approach by pinpointing the fastest-growing segments and revenue generators highlighted in the report.
The disinfectant segment emerged as the largest market segment in 2021, accounting for over half of the global market share, and is poised to maintain its dominance throughout the forecast period. Conversely, the sanitizer segment is forecasted to exhibit the swiftest CAGR of 8.3% during the projection period.
In terms of end-use industry, the food and beverage sector dominated the market in 2021, capturing more than one-fourth of the global market share, and is anticipated to sustain its leadership position in the forthcoming years. Conversely, the healthcare segment is projected to register the highest CAGR of 8.5% during the forecast period.
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Geographically, the Asia-Pacific region commanded the largest market share in 2021, constituting over one-third of the global market, and is anticipated to uphold its dominance throughout the forecast period. Additionally, this region is expected to witness the highest CAGR of 8.7% during the forecast timeline.
Key players in the global peracetic acid market landscape include Acuro Organics Limited, Airedale Chemical Company, California Soda Company, Diversey Inc, Ecolab Inc, Enviro Tech Chemical Services, Evonik Industries AG, Jubilant Pharmova Limited, Kemira Oyj, Lenntech B.V., Mitsubishi Gas Chemical Company, Seeler Industries Inc, Solvay, Sopura S.A, and Tanfac Industries. These market players have adopted various strategies such as joint ventures, expansions, new product launches, collaborations, and partnerships to augment their market presence and efficacy. The report provides a thorough analysis of recent developments, product portfolios, business performance, and operational segments of these key players, aiding stakeholders in making informed decisions.
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