Chicago, Feb. 09, 2023 (GLOBE NEWSWIRE) -- The global Biocides Market size is estimated to be USD 11.0 billion in 2022 and is expected to reach USD 13.6 billion by 2027, at a CAGR of 4.3% during the forecast period, as per the recent study by MarketsandMarkets™. Biocides are substances used to kill or inhibit all harmful life forms when introduced in sufficient concentration and duration. They are primarily used to kill harmful organisms and control bacterial or fungal growth.
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332- Market Data Tables
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List of Key Players in Biocides Market:
- Veolia Group (France)
- Arxada AG (Switzerland)
- Ecolab Inc. (US)
- Nouryon (Netherlands)
- General Electric Company (US)
- Evonik Industries AG (Germany)
- Solvay SA (Belgium)
- Clariant AG (Switzerland)
- others
Drivers, Restraints, and Opportunities in Biocides Market:
- Drivers: Increase in antimicrobial protection in the end-use industries
- Restraints: Lengthy and expensive registration process
- Opportunity: Emerging applications of biocidal products
Key Findings of the Study:
- Non-oxidizing biocide is the largest type of biocides market.
- Water treatment is projected to be the fastest growing application of the biocides market, in terms of value, during the forecast period.
- North America is projected to be the fastest growing market for biocides during the forecast period
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Based on type, the Biocides market is segmented as oxidizing biocides, non-oxidizing biocides and others. Non-oxidizing biocides are estimated to have a larger share in the biocides market. Non-oxidizing biocides are chemicals that function by mechanisms other than oxidation, which include interfering with reproduction and cell metabolism, lysis of cell wall, and stopping the respiration of microorganisms. They are generally fed into a system for hours or up to a day to kill algae, bacteria, and fungi. The different types of non-oxidizing biocides include Isothiozoline, 2,2 Dibromo-3-Nitrilopropionamide (DBNPA), Glutaraldehyde, Methylene Bisthiocyanate (MBT), Tetrakis(Hydroxymethyl)Phosphonium Sulfate (THPS), and Quaternary Ammonium Compounds (QAC), among others. Unlike oxidizing biocides, it does not pollute the aquatic environment.
Based on application, the biocides market has majorly been segmented into water treatment, household & personal care, paints & coatings, wood preservatives, and others. Water treatment is further sub-segmented into municipal water treatment, oil & gas, power plants, pulp & paper, swimming pools, mining , dairy, poultry & food processing applications; whereas the paints & coatings application is futher sub-segmented into marine coatings and other paints & coatings. The biocides market size for household & personal care applications accounted for the largest share of global biocides, in terms of value, in 2020 this was because of the sudden surge in demand of disinfectants due to the pandemic. Health hygiene and awareness led to bulk demands of household and personal care products having biocides such as triclosan, isothiazolinones, chloroacetamide bronopol, and others. This application is estimated to come down to normal because of worldwide immunization against COVID-19.
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Based on region, North America is estimated to be the largest market for Biocides in 2021 followed by Asia Pacific. The growth in the APAC region is attributed to increasing domestic demand and rising exports to the western markets. The increasing demand for biocide products from the water treatment, household & personal care, paints & coatings and food & beverage segments is driving the market in this region. The countries in this region have well established industries like automotive, oil & gas, power plants, leather, textile, shipbuilding, and others. These industries will drive the market.
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