Global Biocides Market was valued at US$ 7.139 Bn in 2020 and is estimated to reach US$ 10.532 Bn by 2026 growing at a CAGR of 4.98% during the forecast.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.Global Biocides MarketThe upsurge in the usage of biocides in the water treatment and agriculture industry as pesticides and insecticides and awareness regarding consumption of clean water are the key factors driving the growth of the global biocides market. However, environmental issues related to the emission of halogenated biocides, such as endocrine disruptions and carcinogenic properties, have caused the making of stringent norms, regulations, and protocols, especially on the use of chlorine and bromine in the water treatment industry.
The halogen-based segment is leading the biocides market followed by metallic biocides. It is projected to grow at a CAGR of 5.5% during the forecast period. Halogen-based biocides are very effective for microbial growth and are active control agents. The halogen-based segment growth is driven due to its less cost and high efficiency. They are utilized in a wide spectrum of applications, and relatively low occurrence of resistance. The metallic biocides market witnessed significant growth owing to its widespread application scope in disinfecting industrial water systems. Metallic biocides are highly active in preventing algae formation inside ballast water treatment plants.
Increased necessity for water treatment in numerous sectors such as household, industrial, and commercial has led to the growth in demand for biocides. The construction industry is the segment with the maximum market potential in the global biocides market, owing to rapid urbanization and favorable macroeconomic factors. Additionally, the use of biocides in agriculture and water treatment industries is increasing altogether thereby accelerating the growth.
Progress in demand for biocides as preservatives in the food & beverage industry and rise in demand from stimulating construction industry in North America, followed by Asia-Pacific drive the biocides market growth. Furthermore, India and China have witnessed major development in the construction industry, owing to constant growth in the economy and a rise in living standards. Moreover, disposable incomes in developing countries such as China, India, and Indonesia has directed to rise in the use of biocides, thereby leading to demand biocides globally.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology. The report also helps in understanding biocides market dynamics, structure by identifying and analyzing the market segments and project the market size.
Further, the report also focuses on a competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER's analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the biocides market.
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The Scope of the Global Biocides MarketGlobal Biocides Market Key Player Analyzed in the Report:
• The Dow Chemical Company
• Troy Corporation
• BASF SE
• Thor Group
• AkzoNobel
• Clariant Corporation
• Lanxess
• Solvay
• Kemira
• Lonza Chemicals
• Ashland
• Arch Chemicals
• Champion Technologies
• ISP Chemicals
• Baker Hughes
• Melzer Chemicals
• Dupont
• Kemira Oyj
• Nalco Champion
• Bio Chemical
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