Market Analysis
The global biocides market is projected to grow at healthy CAGR between 2022-2030, as per the recent Market Research Future (MRFR) report. Biocides are substances utilized for killing or inhibiting all life forms and when introduced in adequate duration and concentration. Generally, it is used for controlling fungal or bacterial growth and killing harmful organisms. Nitrogen, phenolics, organosulfur, metallic compounds, halogen compounds, amid others are the different types of biocides that find ample applications in wood preservation, paints and coatings, food and beverages, personal care, water treatment, and others. Biocides are also used in industrial wastewater treatment, sewage treatment, spas & swimming pools, cooling towers, and others. Besides, this chemical is also used for water cleaning programs for controlling biofouling in the case of reverse osmosis membranes.
Numerous factors are adding to the global biocides market growth. These factors, according to the recent Market Research Future report, include increasing demand from industrial applications, growth of end users, increasing disposable income, increasing use in agriculture and water treatment, and increasing awareness about clean water. Additional factors adding to the biocides market growth include environmental regulations and zero and low VOC coatings, increasing use of biocidal products and biocides in paint, and growing global economy.
On the contrary, volatility in raw material prices, expensive and lengthy registration process, and environmental regulations on toxic biocides are factors that may limit the global biocides market growth during the forecast period.
Regional Analysis
By region, the global biocides market report covers the latest trends and growth opportunities across the Americas, the Asia Pacific (APAC), Europe, and the Rest of the World. Of these, North America will lead the market during the forecast period for the growing demand from the food and beverage industry, demand from the reviving construction industry, and demand from the water treatment segment.
The global biocides market in the APAC region will grow at the fastest pace over the forecast period for the expanding manufacturing industry, initiatives undertaken by the government to boost awareness about hygiene, and the growing end user industry.
The global biocides market in Europe is predicted to have slow growth during the forecast period for strict environment norms in this region.
The global biocides market in the RoW is predicted to have steady growth during the forecast period.
Market Segmentation
The Market Research Future report provides an all-inclusive segmental analysis of the global Biocides Market trends based on application and product.
By product, the global biocides market has been segmented into nitrogen, phenolics, organosulfur, metallic compounds, halogen compounds, and others. Of these, halogen compounds will lead the market during the forecast period.
By application, the global biocides market is segmented into fuels, oil and gas, boilers, HVAC, paints and coatings, personal care, wood preservation, food and beverages, water treatment, and others. Of these, water treatment will lead the market during the forecast period for the growing demand for treated water from industrial and municipal industries.
Key Players
Leading players profiled in the global biocides market report include Lubrizol, Troy Corporation, Baker Hughes Incorporated, Solvary SA, Akcros Chemicals, Albemarle Corporation, Thor Group Limited, The Dow Chemical Company, Clariant AG, BWA Water Additives, BASF, AkzoNobel N.V., Champion Technologies, Lanxess AG, Sigma-Aldrich, Ashland Inc., Anpath Group Incorporated, GE Water and Process Technologies, Buckman Laboratories International Inc., Cortec Corporation, and Arch Chemicals Inc. Key players have incorporated various strategies to increase their footprint in the market such as acquisitions, joint ventures, partnerships, agreements, expansions, and new product launches.
Industry News
February 2020: LANXESS has acquired IPEL, the Brazilian biocide manufacturer, to strengthen its position as a leading manufacturer in the world of antimicrobial active ingredients as well as formulations.
