The global biocides market is estimated to arrive at USD 10.5 billion by 2027. It is projected to develop by 3.9% CAGR from 2020 to 2027.
Biocides are categorized such as non-oxidizing otherwise oxidizing, conditional on their method of act in contradiction of microbial development. Peroxygen compounds, chlorine, bases, aldehydes, quaternary ammonium compounds, and acids, between others are the key input feedstock chemicals, utilized in their formulations.
The market for biocides is anticipated to be mainly driven by the increasing global demand from the paints and coating, water treatment and wood preservation sectors.
A considerable growth in the acceptance of high-performance chemicals to increase the shelf life plus sturdiness and avert worsening, sourced by the microbes, like fungi, bacteria, and viruses, has pushed the utilization of biocides, through the end-user business.
The biocides market is anticipated to observe an augmentation in demand from Europe and North America. It is highly impelled by the wood preservation and water treatment industries. But, because of the slowdown of construction activities, during the pandemic, a momentary turn down in sales from wood preservation application is seen.
The nations like India and China in Asia Pacific region, which are the important propellers of the market, observed solid demand for the biocides from the manufacturers of cleaning materials. Following the record eruption of Covid-19, this demand has sharply increased in 2020, not only in the Asia Pacific but through every region of the world, also.
The demand for the biocides turned down, between the Covid-19 pandemic, from the various manufacturing industries such as personal care, plastics, HVAC, pulp and paper, paints and coatings, boilers, oil & gas, and plastics. In contrast, in an effort to restrain the spread of virus, demand for the biocides increased from the cleaning products like sanitizers, and disinfectants.
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Further key findings from the report suggest:
• Business integration is expected to be an important policy for the enlargement, between the companies.
• On account of the global spread of pandemic, the cleaning products application sector is expected to observe major development, during the forecast period.
• The halogen compounds product sector retained the major, 25.5% revenue share of the biocides market, in 2019, due to its versatility of functions in addition to price efficiency.
• By means of holding 35.4% revenue share, Asia Pacific appeared like the biggest regional market, in 2019.
• In terms of revenue, the water treatment application sector is likely to increase by the highest 5.5% CAGR, during the forecast period, due to the increasing demand for biocides from the drinking water and industrial water treatment plants.
Million Insights segmented the global biocides market based on Application, Product, and Region.
Biocide Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
• Halogen Compounds
• Metallic Compounds
• Organic Acids
• Quaternary Ammonium Compounds
Biocide Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
• Water Treatment
• Food & Beverages
• Personal Care
• Wood Preservation
• Paints & Coatings
• Oil & Gas
• Pulp & Paper
• Cleaning Products
Biocide Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• South Korea
• South America
• Middle East & Africa
• South Africa
• Saudi Arabia
Various companies for biocides market are:
• Solvay SA
• Wuxi Honor Shine Chemical Co. Ltd.
• Iro Group Inc
• Finoric LLC
• Chemtreat, Inc.
• Lanxess AG
• BASF SE
• Albemarle Corporation
• Hubei Jinghong Chemicals Co. Ltd.
• Shanghai Zhongxin Yuxiang Chemicals Co. Ltd.
• Neogen Corporation
• Troy Corporation