Peracetic Acid Market- Low Toxicity and Price to Drive Demand By 2020 | TMR

Key companies in the global peracetic acid market are sourcing their channels to boost their presence in the emerging nations. Large investments in research and development are being made by companies to acquire an edge above other companies. Private companies in the peracetic acid market are taking the help of government agencies and are striving to generalize the use of peracetic acid in water treatment and other similar applications. Some of the vendors operating in the global peracetic acid market are:  Solvay S.A., Evonik Industries, Kemira Oyj, Promox S.p.A., Mitsubishi Gas Chemical Inc., Ecolab Inc., Thai Peroxide Limited, PeroxyChem LLC, and Diversey Inc., states a new report by Transparency Market Research (TMR).

According to the report, the global peracetic acid market will be worth US$652.9 mn by 2020. By end user, the global peracetic acid market will be led by the food and beverage segment on account of growing demand for frozen meat products and also for beverages such as aerated and non-aerated drinks.

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The high demand for clean and safe water not just for households but also for industrial applications is expected to boost the water treatment segment in the years to come, says a TMR analyst. On account of the high demand from emerging nations such as India and China, the Asia Pacific market is anticipated to lead in the peracetic acid market, taking the place of North America, which was leading previously on the basis of geography in the peracetic acid market. The demand will also be noteworthy from Latin America and the Middle East. This will ensure the healthy growth of the peracetic acid market in the Rest of the World

Cost Effectiveness of Peracetic Acid to Drive Demand in Forecast Period

The growing demand for peracetic acid from water treatment sector will fuel the growth of this market. The food and beverages segment will also drive the sales of peracetic acid in the coming years. This market is anticipated to experience a lot of interest in the coming years on account of the ability of peracetic acid to inactivate bacterial performance in a cost effective manner as opposed to other disinfection technologies.

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The use of peracetic acid in medical line has been a trend since long and this is also furthering the growth of the market globally. Moreover, peracetic acid is low on toxicity level as opposed to chlorine as it does not produce halogenated DBPs. This is leading to an increased preference for this acid for water treatment. In addition to this, the use of this acid onsite requires no special risk management procedures. All these factors will fuel the demand for peracetic acid in the forecast period.

Price Fluctuation of Raw Materials to Affect Peracetic Acid Market Adversely

Due to the production of peracetic acid on a larger scale, the price of this acid has reduced considerably. This will boost the growth opportunities for this market during the forecast period. On the other hand however, the price fluctuation of the raw materials will pose a challenge for the market. The exposure to peracetic acid can cause hazards, which will threaten the demand for this acid in the years to come. All these factors are anticipated to hamper the growth of the peracetic acid market worldwide.

The research study has been segmented as below:

Global Peracetic Acid market, by End User:

  • Food and Beverages
  • Pulp and Paper Bleaching
  • Water Treatment
  • Medical
  • Agriculture
  • Others

The information presented in this review is based on a Transparency Market Research report, titled, “Peracetic Acid Market (End User – Food and Beverages, Pulp and Paper Bleaching, Water Treatment, Medical, Agriculture and Other End-users) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020.”

Controlled Release Fertilizers Market: Demand is stoked as Agriculturists Look to Upgrade Farming Methods, TMR

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Fungicides Market: Increasing Food Security Concerns Due to Growing Population Worldwide to Drive Demand, TMR

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Aroma Chemicals Market: Rising Demand for Natural Fragrances to Help Market Gain Considerable Impetus, TMR

The top four players in the global aroma chemicals market held nearly 54% share in 2015, rendering its vendor landscape consolidated. Givaudan, Symrise, IFF, and Firmenich SA constitute the leading market players. Constant effort of these companies towards technological innovations, has resulted in low processing cost and high quality products, finds Transparency Market Research (TMR) in a new study. Besides this, investment in research and development is escalating, creating lucrative opportunities for the market’s growth. 

The global aroma chemicals market is forecast to exhibit a CAGR of 6.2% between 2016 and 2024. At this pace, the market’s valuation will reach US$6.57 bn by 2024, from US$3.85 bn in 2015. 

Europe to Remain Dominant Regional Market for Aroma Chemicals 

Among the key application segments, which include personal care, household care, and others, the personal care segment held the dominant share of 47.2% in the market in 2015. While its dominance will remain unaffected through the forecast period, the market is also expected to tread along a positive curve in the household care segment. 

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Regionally, North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa constitute the key market segments. Europe emerged as the region holding the largest share of 33.3% in the global market in 2015. Besides this, Asia Pacific is demonstrating lucrative opportunities for the market players. During the forecast period, the CAGR witnessed by the market in Asia Pacific is expected to remain higher than other regions. 

Rising Uses across Diverse Industries to Bolster Market Opportunities 

While previously, the use of aroma chemicals was limited to the personal and household care sector, its expansion to the food and beverages and medical industries has spiked market opportunities. With the rising urbanization and growth in per capita income and spending, the demand for aroma chemicals is expected to rise especially in emerging nations such as India, China, Brazil, and Africa. “Rising income entails increasing willingness among consumers to spend on personal care products, which will create lucrative prospects for the aroma chemicals market,” said a lead TMR analyst. 

Also the demand for natural fragrances is at all-time high as they are considered greener, safer, and more sustainable. While not all perceptions may be accurate, but they boost the demand for natural aroma chemicals derived from ingredients harvested from sustainably grown plants. This also connotes that the changing consumer lifestyle will have a positive influence on the overall market. .

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Stringent Regulations to Emerge as Key Challenge

On the downside, stringent regulation coercing companies to follow certain compliance policies is inhibiting the market’s trajectory. For instance, wastewater discharge during the production of various synthetic aroma chemicals consists of several biological oxygen compound. As regulations under the Toxic Substances Control Act (TSCA) and Clean Air Act (CAA) impose various restrictions on the emission of VOC under federal laws, the production of aroma chemicals might get curtailed to an extent. 

Nevertheless, increasing market penetration and investment towards product development, will help the aroma chemicals market overcome the aforementioned difficulties and register strong growth in the forthcoming years. Also with companies focusing on product diversification, consumers will have wider options to choose from. Spurred by these factors, the global aroma chemicals market will continue treading along a positive trajectory through the forecast period.