Pune, India, Jan. 11, 2022 (GLOBE NEWSWIRE) --
The global biocides market size is anticipated to expand at substantial CAGR during the forecast timeframe, owing to the increased use of biocide in personal care industry. As the product is utilized for destroying, deterring, and countering the growth of microbes, harmful bacteria, fungi, and viruses, its deployment in healthcare sector has increased considerably since the outbreak of the coronavirus. Product versatility in terms of applications is likely to surface as a major market driver.
Phenolic products gain traction across North America
The phenolic segment is projected to exhibit a CAGR of more than 6% between 2020 and 2026, facilitated by the rising product addition in household products as well as industrial applications. The product is being extensively utilized as an intermediate in a host of products, apart from finding use as an antiseptic and cleaner.
Healthcare establishments have been inclined toward the adoption of phenolic derivative chemicals due to their high effectivity against fungi and bacteria. With the rising threat of infectious diseases across Canada and the U.S., the execution of preventive measures is likely to add momentum to industry forecast over 2026.
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Growing consumption of halogen compounds across U.S.
North America biocides market share from the halogen product segment is slated to expand considerably between 2020 and 2026, due to their advantageous properties that include water-repellent, biocidal, cooling, plasticizing lubricating characteristics.
The use of chlorophenol as a multifunctional biocide is expected to grow due to the pandemic. These compounds are gaining widespread adoption for cleaning applications such as swimming pool cleaning, bleaching, dishwashing powders across the United States.
Rise of urban residences across Asia Pacific
The rising preference for biocides for in-can preservatives for paints & coatings is powering Asia Pacific biocides market trends. As the number of urban residential projects across the major Indian, Chinese, and Australian cities has been increasing, the consumption of paints & coatings is likely to register an uptick.
The product is used in the formulation of paints and coatings as it can boost the shelf-life of these products. The trend of automotive repainting is supporting the industry outlook. As of 2019, the biocides market share in Asia Pacific from the paints & coatings segment was estimated at $430.8 million.
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Robust food & beverage industry in Asia Pacific
The presence of a robust food & beverage industry across the emerging economies in Asia Pacific is paving its way toward growth. The rise in working population, increasing disposable incomes, and extremely busy work schedules is encouraging the preference for packaged and convenience food products. As biocide products are added to packaged food for reducing microorganisms, they play an important role in preventing food-borne illnesses and food spoilage.
During 2019, the industry share from the food & beverage segment was valued at $531.7 million in Asia Pacific. The increasing product use on or in FCMs or food contact materials is accelerating the industry share from the food & beverage industry. With a rising number of biocidal products gaining regulatory approvals, APAC industry outlook promises a steady expansion.
European wood treating industry fosters growth
Wood preservative manufacturers are developing products that meet the regulatory requirements. Russia, Denmark, Germany, and France are expected to register a spiraling demand for wooden furniture, triggered by the trending focus toward infrastructural development of commercial and residential spaces.
Europe biocides market size is expanding from the wood preservation application, which is estimated to be worth more than $295 million by 2027. The growing number of EU approvals for fungicides, insecticides and other wood preservatives is likely to support product penetration.
Water treatment applications to push U.K. market
By 2027, the water treatment application across the U.K. is slated to cross nearly $195 million. The expansion of the regional population base has generated an escalating demand for fresh water. Several government initiatives encouraging the development of new wastewater projects throughout the nation are likely to translate to a growing revenue for biocide water treatment applications.
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In July 2021, the Lenzing Group, a leading provider of specialty fibers for nonwoven and textile industries, announced that it will invest over £20 million toward the construction of a state-of-the-art wastewater treatment plant at the Grimsby site in the U.K. Execution of policies and plans including the Water Framework Directive (WFD) will extend the use of biocides for water treatment applications.
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