Biocides Market Scenario -
Biocides Market is slated to grow at a CAGR of 5.35% to reach USD 15.6 Billion by 2027. Biocides such as wood preservatives, insecticides, rodenticides, disinfectants belong to a category of products which are intended for the destruction or inhibition of unwanted organisms such as viruses, bacteria, fungi, and insects. They are used in a variety of industrial purposes. The global biocides market is growing at an incremental pace and is likely to scale to a significant valuation in the forthcoming years, asserts Market research Future (MRFR) in an in-depth study. The increased use of biocides across industrial sectors for disinfectant purposes is likely to favor the market growth.
Biocides Market can be defined as chemicals which are mainly used to kill organisms, harmful microorganisms, and control the growth of bacteria and fungi. Biocides are extensively used in industries like drinking and waste water treatment, healthcare, and consumer goods industry. They are categorized into preservatives, disinfectants, pesticides, and insecticides.
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Biocides Market - Eminent Firms:
Some of the major players operating in the 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 and others.
Market Potential and Pitfalls :-
The increased use of biocides and its products in several industrial sectors for disinfectant purposes is triggering the demand for biocides across the globe. The surging demand for clean water for industrial and domestic purposes, and increased use of biocidal products as disinfectants and anti-fouling agents has created immense opportunities for the market to expand across the globe. The application of biocides in F&B sector for disinfecting equipment, pipes, and surfaces which are in close contact with the packaging and manufacturing processes have contributed to the market growth. With the rising focus on hygiene and clean water and strict government mandates, the biocides market is likely to gain impetus. Industrial preservation accounts for huge chunk of biocides. The augmenting emphasis on improving the sanitation in workplaces and production processes along with the improving economic conditions are some of the other major factors highly influencing the market throughout the appraisal period. Moreover, rebound in constructional activities, especially in APAC and the North American regions have supported the market growth.
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Segment Study of Biocides Market :-
The global biocides market has been segmented on the basis of product and application.
By mode of product, the global biocides market has been segmented into metallic compounds, halogen compounds, phenolics, organosulfur, nitrogen, and others. Among these, the halogen compounds are likely to gain prominence as they are less costly, effective microbial growth control agents, relatively low occurrence of resistance, and have wide spectrum of applications.
By mode of application, the global biocides market has been segmented into food & beverages, water treatment, wood preservation, personal care, HVAC, paints & coatings, oil & gas, boilers, fuels, and others. Among these, the water treatment segment is considered to gain significant prominence. The surging demand for industrial and treated municipal water from several end-use industries is estimated to fuel the segment growth. The growing emphasis on clean water by the government of developing as well as developed nations is likely to create immense opportunities for the market.
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Biocides Market Market - Geographical Analysis :-
Geographically, the biocides market span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).
Considering the global scenario, the North American region is considered to command a major share in the global market owing to strong rebound activities and surging demand from the F&B industry. The inflated demand for biocides in treatment of water is likely to fuel its growth. Moreover, the reviving construction sector in this region encourages the market growth in wood preservation and paints & coatings treatment.
The Asia Pacific region is estimated to witness a sturdy CAGR in the coming years owing to the expanding manufacturing sector in the region. Businesses are shifting manufacturing capabilities in this region in order to capitalize on the low cost labor. Also initiatives undertaken by the government to spread awareness regarding hygiene have inflated the demand for biocides in this region.
Industry Updates
In January 2019, the South Korea government released K-BPR implementation plans to acquire information on minimum toxicity level of existing biocidal substances currently in circulation.
April 01, 2019: DuPont Industrial Biosciences and IMCD have recently announced an expansion of their distribution partnership for biocides which is used in the homecare applications and industrial preservation. The partnership focuses on marketing, sales, and distribution of biocides that had started 35 years ago between the two companies.
In July 2018, India's Central Insecticide Board and Registration Committee (CIB&RC) have announced that it has published long-awaited guidelines for the registration of biocides used in paints.
In October 2018, Dow Microbial Control, a U.S.-based business unit of DowDuPont Specialty Products, has announced the launch of two new within its AQUCAR Water Treatment Microbiocides portfolio. The new cold-weather biocides, AQUCAR 7140 LT Water Treatment Microbiocide and AQUCAR TN 250 LT Water Treatment Microbiocide provide microbial control down to -40 Fahrenheit.
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