New York, US, Aug. 02, 2021 (GLOBE NEWSWIRE) -- Biocides Market Overview
According to a comprehensive research report by Market Research Future (MRFR), “Biocides Market Information by Product, Application, and Region - Forecast till 2027”, the market is estimated to reach USD 15.6 Billion by 2027 at 5.35% CAGR.
Market Scope
Biocides are chemical substance that are used for a variety of applications and has antimicrobial properties. Industrial preservation applications account for a large chunk of the consumption of biocides. Greater emphasis on improving sanitation in production processes and workplaces coupled with improving economic conditions is a primary driver of the global biocides market.
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Competitive Landscape
Some of the Major Players operating in the Global Biocides Market are:
- AkzoNobel N.V.
- Akcros Chemicals
- Albemarle Corporation
- Arch Chemicals Inc.
- Champion Technologies
- Lubrizol
- Anpath Group Incorporated
- Baker Hughes Incorporated
- Ashland Inc.
- BASF
- BWA Water Additives
- GE Water and Process Technologies
- Solvary SA
- Sigma-Aldrich
- Thor Group limited
- Buckman Laboratories International Inc.
- Cortec Corporation
- Troy Corporation
- Clariant AG
- The Dow Chemical Company
- Lanxess AG
Market Drives
In the following years, the worldwide biocides market is expected to rise at a moderate rate. The worldwide biocides market is primarily driven by the increasing use of biocides and biocidal chemicals for disinfection in a variety of industrial sectors. The use of biocides in the food and beverage industry to disinfect pipes, equipment, and surfaces that come into direct contact with manufacturing and packaging processes, as well as the rising demand for clean water for domestic and industrial use and the increased use of biocidal products as anti-fouling agents and disinfectants, have created numerous opportunities for the global biocide market to grow.
The low oxygen level in the air, along with stagnant liquid inside the pipelines, promotes the growth of SRB. As a result, demand for oxidizing and non-oxidizing biocides has risen, as they are widely employed in the production of cleaning goods for the home, industry, and institutions (HI&I), such as disinfection wipes, sprays, and other cleaning liquids. During the pandemic, demand for HI&I products surged dramatically, resulting in a rise in demand for biocides.
Market Restraints
Biocidal active compounds, on the other hand, have a very high toxicity, and long-term exposure to these products may pose a health risk to humans. As a result, growing concern about the health risks posed by biocides and biocidal products is impeding the global biocidal market's growth during the assessment period. The adverse effects of biocides may hinder the expansion of the market for biocides. Furthermore, the creation of strict regulations prohibiting the use of biocides is a hindrance to the global biocides market's growth.
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COVID-19 Analysis:
Almost every sector of the world has been affected by the worldwide epidemic. Due to disruptions in the global supply chain on the one hand and increasing demand for disinfectants for household and personal care on the other, the biocides market is projected to be neutrally affected. The epidemic and coastal storms were both to blame. The oil and gas, paper & pulp, mining, home, industrial and institutional, paints & coatings, and wood industries are all heavily reliant on the market.
Market Segmentation
The global biocides market has been segmented based on product and application.
By product, the market has been segmented into halogen compounds, metallic compounds, organosulfur, phenolics, nitrogen, and others.
By application, the market has been segmented into water treatment, food & beverages, personal care, wood preservation, paints & coatings, HVAC, boilers, oil & gas, fuels, and others.
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Regional Insights
The region-wise analysis of the global biocides market includes regions such as North America, Asia Pacific, Europe, and the Rest of the World.
The biocides market in North America is growing thanks to a robust resurgence in building activity and increased demand from the food and beverage industries.
Due to the rise of the industrial industry in the region, the Asia Pacific market for biocides is predicted to grow rapidly. Businesses are transferring manufacturing capabilities to Asia Pacific in order to take advantage of the region's low labour costs. Furthermore, government measures to enhance hygiene awareness have increased the usage of biocides in the region. The market in this area is being driven by rising demand for biocide products from the water treatment, household & personal care, paints & coatings, and food & beverage industries. In the APAC region, China has the highest share of the biocides market. This Chinese economy has already outperformed top markets in the production and consumption of many chemical commodities, including biocide. The Chinese chemicals sector has developed into a labor-intensive, high-tech business that produces at low operating costs and takes use of economies of scale. These policies have resulted in the Chinese manufacturing industry seeing exponential expansion, resulting in a large annual trade surplus for the country.
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