PERACETIC ACID MARKET ANALYSIS

Stringent regulatory norms regarding the use and transportation of peracetic acid will significantly increase compliance costs for manufacturers. Additionally, peracetic acid is considered hazardous if mishandled and can cause harm to human health and environment. Substitutes such as hydrogen peroxide and chlorine dioxide have gained considerable traction lately, threatening the existing market share of peracetic acid. Fluctuating raw material prices also impact the overall production costs. Developing economies may switch to cost-effective alternatives due to higher product and production costs.

Opportunities: Technological advancements in peracetic acid production

Technological advancements in peracetic acid production methods promise to unlock new opportunities in the global peracetic market in the coming years. Traditionally, peracetic acid has been produced through chemical synthesis which involves multi-step reactions and use of hazardous chemicals. However, newer bio-based production methods are now emerging that uses benign feedstocks and simpler reactions to produce peracetic acid.  For instance, some studies have shown that certain bacteria found in wetlands can produce peracetic acid as a byproduct when fed simple carbon sources like ethanol or acetic acid. Similarly, certain species of algae have also been found to produce peracetic acid when their metabolism is stimulated under controlled conditions. These bio-based approaches offer a more sustainable and environment-friendly alternative to traditional chemical synthesis. They help reduce dependence on non-renewable fossil fuels and eliminate use of toxic intermediates in the production process. Advances are also being made in development of more effective heterogeneous catalysts that can carry out the critical esterification and perhydrolysis reactions involved in peracetic acid production with higher selectivity, lower energy requirements and fewer side products. For example, researchers at University of Toronto developed a nanocomposite catalyst made of ceria and titania that was able to produce peracetic acid from hydrogen peroxide and acetic acid with 98% selectivity (Journal of Catalysis, 2021). Such improvements in catalyst technology promise to enhance production efficiency and lower manufacturing costs.