According to the report by UNICEF, approximately 74% of the global population has access to safe drinking water, which is expected to reach 81% by 2030 and remaining 1.6 billion without any safe drinking water. The increasing demand of safe drinking water is expected to enhance the growth of the market. Biocides are used to eliminate microbes during the treatment of water. These chemicals are extensively used in sewage treatment, cooling towers, spas and swimming pools and industrial wastewater treatment. As a result of all these factors, the demand of the biocides increases which will enhance the market growth.
According to Data Bridge Market Research the Biocides accounted for USD 10,889.6 million in 2021, and expected to reach USD 16,967.26 million by 2029. The market is expected to grow with a CAGR of 5.70% in the forecast period of 2022 to 2029.
“Growing usage of antimicrobial protection products is expected to drive the market growth”
An increasing usage of antimicrobial protection products in various end-use industries is expected to propel the growth of the biocide market. Antimicrobial protection is a substance which exhibits the capacity to inhibit or lower the levels of microorganisms such as mold and bacteria. The biocides have widespread applications as a preservative, antimicrobial and disinfectant in numerous end-use industries such as paints and coatings, cosmetics and personal care, agrochemicals, food and beverages, water treatment, oil and gas, and pulp and paper. In hospitals and other institutions, the use of biocides is important to control and avoid the widespread of infectious diseases. For instance, in 2020 as per the report of "American Chemistry Council," which is a US-based industry trade association for American chemical companies, during the COVID-19 pandemic situation, more than 1,000 disinfectants were deemed and registered by the US Environmental Protection Agency (EPA) to be effective against COVID-19 virus. Thus, a rise in the usage of antimicrobial protection in end-use industries is expected to drive the market growth.
What restraints the growth of biocides market?
“Multiple issues associated with biocides”
There are many challenging factors which are expected to hamper the growth of the global biocides market such as serious ecological consequences by the usage of biocides. Furthermore, anti-fouling paints contain some compounds such as tributyltin (TBT), this compound negatively affect the aquatic ecosystems. Hence, the use of tributyltin (TBT) has banned in several nations for commercial vessels.
Segmentation: Biocides Market
The biocides market is segmented on the basis of type, product type and application.
- On the basis of type, the biocides market is segmented into halogen compounds, organic acids, nitrogen based biocides (quaternary ammonium compounds), metallic compounds, organosulfur compounds, phenolic biocides, others.
- Based on product type, the biocides market is segmented into preservatives, pest control, others.
- On the basis of application, the biocides market is segmented into water treatment, food and beverage, boilers and industrial cooling towers, personal care, wood preservation, paints and coatings, HVAC, boilers, oil and gas, fuels, metal working fluids, marine industry, plastics, leather, others.
Regional Insights: Asia-Pacific is expected to dominate the Biocides Market
Asia-Pacific dominates the biocides market due to augmented manufacturing of disinfectants, mainly during the situation of COVID-19 pandemic. Furthermore, growing demand for the application-specific cleaning products will further boost the growth of the biocides market in this region during the forecast period.
- In addition, the North America region is likely to register highest growth rate during the forecast period of 2022 to 2029 due to increasing research and development activities among the formulators, manufacturers, and end users in this region. Furthermore, increasing adoption of water-based paints and coatings because they are more eco-friendly is expected to drive the growth of the market in this region.
Recent Development: Biocides Market
- In 2020, LANXESS a Germany-based specialty chemicals company has acquired Itibanyl Products Especiais Ltd. for an undisclosed amount. With this acquisition, LANXESS enables to strengthen its position as one of the leading producers of antimicrobial active ingredients and formulations globally. LANXESS has also acquired laboratory facilities from Itibanyl Produtos Especiais Ltda. (IPEL).
- In 2022, Bridgnorth Aluminium and Veolia Water Technologies started a long-term partnership in which Veolia Water would help in compliance services and water treatment processes at the specialist’s production site in Shropshire. Veolia Water Technologies delivers servicing chemical supply and Legionella compliance for its process water treatment and cooling towers systems.
- In 2022, Arxada has announced their collaboration with Troy Corporation. With this collaboration, they create an innovative and comprehensive offering in Arxada’s Microbial Control Solutions (‘MCS’) business and also allowing the delivery of value-added services and new solutions to customers.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-biocides-market
The Prominent Key Players Operating in the Biocides Market Include:
- BASF SE (U.S.)
- Clariant (Switzerland)
- Dow (U.S.)
- Akzo Nobel N.V (Netherlands)
- Kemira, (Finland)
- THOR (U.S.)
- Italmatch AWS (Italy)
- LANXESS (Germany)
- Albemarle Corporation (U.S.)
- Lonza (Switzerland)
- Baker Hughes Company (U.S.)
- General Electric (U.S.)
- Buckman (U.S.)
- Valtris Specialty Chemicals (U.S.)
- Ecolab (U.S.)
- Merck KgaA (Germany)
Above are the key players covered in the report, to know about more and exhaustive list biocides market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Biocides Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
