Market Scenario —
Market Research Future (MRFR) asserts that the Global Biocides Market is predicted to garner a stellar CAGR during the forecast period. The increased use of biocides across industrial sectors for disinfectant purposes is likely to favour the market growth. Biocides can be defined as chemicals which are mainly used to kill organisms, harmful microorganisms, and control the growth of bacteria and fungi. Biocides are extensively used in industries like drinking and waste water treatment, healthcare, and consumer goods industry. They are categorized into preservatives, disinfectants, pesticides, and insecticides.
April 01, 2019: DuPont Industrial Biosciences and IMCD have recently announced an expansion of their distribution partnership for Biocides which is used in the homecare applications and industrial preservation. The partnership focuses on marketing, sales, and distribution of biocides that had started 35 years ago between the two companies.
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The prominent players operating in the Global Biocides Market comprises Lanxess AG, Akcros Chemicals, AkzoNobel N.V., Arch Chemicals Inc., Albemarle Corporation, Lubrizol, Champion Technologies, Baker Hughes Incorporated, Anpath Group Incorporated, BASF, Ashland Inc., GE Water and Process Technologies, BWA Water Additives, Sigma-Aldrich, Solvary SA, Buckman Laboratories International Inc., Thor Group limited, Troy Corporation, Cortec Corporation, The Dow Chemical Company, Clariant AG, and others.
Market Potential and Pitfalls
The increased use of Biocides and its products in several industrial sectors for disinfectant purposes is triggering the demand for Biocides across the globe. The surging demand for clean water for industrial and domestic purposes, and increased use of Biocidal products as disinfectants and anti-fouling agents has created immense opportunities for the market to expand across the globe. The application of biocides in F&B sector for disinfecting equipment, pipes, and surfaces which are in close contact with the packaging and manufacturing processes have contributed to the market growth. With the rising focus on hygiene and clean water and strict government mandates, the Biocides Market is likely to gain impetus. Industrial preservation accounts for huge chunk of Biocides. The augmenting emphasis on improving the sanitation in workplaces and production processes along with the improving economic conditions are some of the other major factors highly influencing the market throughout the appraisal period. Moreover, rebound in constructional activities, especially in APAC and the North American regions have supported the market growth.
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Biocides are extensively used for water treatment in swimming pool and spas. The outbreak of several water-borne diseases which require water treatment are encouraging the market growth. Moreover, the riding need for portable water in industrial and domestic purposes is likely to trigger its demand in the coming years. Biocides are also witnessing a surging demand from the energy sector which further complements the use of hydraulic fracturing technique in this sector. They are also used as well stimulation fluids in hydraulic fracturing in order to prevent production and corrosion issues. Such factors are highly influencing the market growth across the globe.
On the contrary, biocidal active products are highly toxic in nature and long-term exposure to such products can cause harm to human health. Such concerns associated with health hazards are predicted to vitiate the market growth across the globe.
Global Biocides Market: Segmental Analysis
The Global Biocides Market has been segmented on the basis of Product and Application.
By Mode of Product, the Global Biocides Market has been segmented into metallic compounds, halogen compounds, phenolics, organosulfur, nitrogen, and others. Among these, the halogen compounds are likely to gain prominence as they are less costly, effective microbial growth control agents, relatively low occurrence of resistance, and have wide spectrum of applications.
By Mode of Application, the Global Biocides Market has been segmented into food & beverages, water treatment, wood preservation, personal care, HVAC, paints & coatings, oil & gas, boilers, fuels, and others. Among these, the water treatment segment is considered to gain significant prominence. The surging demand for industrial and treated municipal water from several end-use industries is estimated to fuel the segment growth. The growing emphasis on clean water by the government of developing as well as developed nations is likely to create immense opportunities for the market.
Geographically, the Biocides Market span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).
Considering the global scenario, the North American region is considered to command a major share in the global market owing to strong rebound activities and surging demand from the F&B industry. The inflated demand for biocides in treatment of water is likely to fuel its growth. Moreover, the reviving construction sector in this region encourages the market growth in wood preservation and paints & coatings treatment.
The Asia Pacific region is estimated to witness a sturdy CAGR in the coming years owing to the expanding manufacturing sector in the region. Businesses are shifting manufacturing capabilities in this region in order to capitalize on the low cost labor. Also initiatives undertaken by the government to spread awareness regarding hygiene have inflated the demand for Biocides in this region.
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