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"Global Biocides Market was Valued at US$ 9.6 Bn in 2019 and it is Expected to Reach More than US$ 15.03 Bn by 2028, Likely to Grow with the CAGR of 5.1% During the Forecast Period."
Biocides inhibit microbial activities, and their effectiveness varies with the concentration and duration of exposure. They are produced in powder and liquid forms, as well as concentrates and, are applicable in distinct end-use industries such as agriculture, wastewater treatment, pharmaceutical, and personal care.
Furthermore, Biocides are used in oil & gas, metal & mining, pulp & paper, and various other industries for treating the water. Moreover, the rising demand for preservatives in food is driving the market for biocides in the food & beverage segment.
Growing Demand From Various Industries Is Anticipated To Drive The Demand For Global Biocides Market
An increase in the use of biocides in water treatment and agriculture industry as pesticides and insecticides and a rise in awareness about clean water are the key factors that accelerate the growth of the global biocides market. In addition, the rapid adoption of halogen-based biocides in industrial preservation applications such as wood preservation, water treatment industry, and metalworking fluids is driving the demand for biocides. Furthermore, growth in demand for biocides as preservatives in the food & beverage industry and rise in demand from reviving the construction industry in North America, followed by Asia-Pacific drive the biocides market growth.
Moreover, the rise in disposable incomes in developing countries such as China, India, and Indonesia has led to an upsurge in the use of biocides. In addition, the surge in demand for adhesives and sealants further generates the need for greater quantities of in-can preservatives and dry film fungicides, as adhesives and sealants are more susceptible to microbial attack. Furthermore, the regulatory framework to enforce industrial water treatment standards is expected to drive the market growth.
However, environmental issues associated with the emission of halogenated biocides, such as endocrine disruptions and carcinogenic properties, have resulted in the formulation of stringent norms, regulations, and protocols, especially on the use of chlorine and bromine in the water treatment industry.
Halogen Compound segment held a significant share in Global Biocides Market in 2019
Halogen Compounds has emerged as the key market for biocides. The Halogen Compound segment constituted a major share of the market in 2019 and it is projected to grow at a significant CAGR of above 5.0 % during the forecast period. Halogen compounds have a wide spectrum of applications owing to very effective microbial growth control agents and relatively low occurrence of resistance. The prime driver of biocides is the increasing demand from end-use applications due to its low cost. The rising demand for biocides that comply with the environmental norms is rising from the developed nations. Therefore, the demand for organic acids has increased in the European and North American regions.
By End-Use Industry, The Water Treatment Segment Is Expected To Witness Highest Growth In The Global Biocides Market Across The Globe
The water treatment segment is estimated to be the largest application of the biocides market. The water treatment segment is projected to grow at the highest rate in the biocides market during the forecast period owing to the rising demand for treated water form industrial water treatment industries and municipal is driving the market for biocides. Moreover, a rapidly growing population, especially in developing countries is expected to fuel further demand as clean water is essential and is becoming more difficult to access. An emphasis by governments in both developing and developed countries such as the US, UK, China on clean water supply should expand the size of the global biocides market. The Water treatment segment drives the market for biocides in the developed nations of North America and Europe.
The Asia-Pacific Region Is Projected To Register a Highest Growth In The Biocides Market During The Forecast Period
The market in the Asia Pacific region is expected to register a CAGR of over 6.0 % over the forecast period. Asia-Pacific is the potential market for biocides owing to the growing end-user industry is the key driver of the market in the region. The rising demand from paints & coatings and increasing demand for preservatives from the food & beverage segment is driving the market for biocides in the region. Asia-Pacific accounted for a considerable share of the total revenue in 2019, followed by North America and Europe. Developing economies in Asia-Pacific such as India, China, and Korea, are anticipated to witness a significant growth rate owing to the increase in developments in agrochemicals and water treatment applications. In addition, the Increasing investments by pharmaceutical companies in R&D on the use of biocides for specific medicinal formulations is another key element that fuels the growth of the market.
Biocides Market in North America is anticipated to be the largest market owing to the increasing demand from the water treatment segment coupled with the rising demand from the reviving construction industry. In addition the presence of a large number of companies in the region specializing in nearly every industry including water purification, food and beverages, and painting and coating, all of which are the largest consumers of biocides.
The top companies in the global Biocides market include BASF SE, Akzonobel N.V., Clariant AG, and The Dow Chemical Company. While some of the other key players in the market are
Valtris Specialty Chemicals, Albemarle Corporation, Nalco Champion, The Lubrizol Corporation, Baker Hughes Incorporated,Business Segment, BWA Water Additives, GE Water and Process Technologies, Solvay SA, Sigma-Aldrich Corporation, Thor Group Limited, Buckman Laboratories International Inc., Cortec Corporation, , Troy Corporation, Lanxess AG, Kemira OYJ and DuPont
Biocides Market Key Segments:
Biocides Market, By Type
- Metallic Compounds
- Copper Based
- Mercury Based
- Magnesium Based
- Others (Tin, Tellurium, and Silver)
- Halogen-Based Derivatives
- Others (Fluorine and Astatine)
- Organic Acids
- Formic Acid
- Lactic Acid
- Phenol Based
- Others (Nitrogen Based and Inorganic Biocides)
Biocides Market, By End User Industry
- Food & Beverage
- Personal Care
- Water Treatment
- Paints & Coatings
Biocides Market, By Region
- North America
- Asia Pacific
- Middle east and Africa
- Latin America