Biocides Market – Snapshot:
Growing focus on hygiene, stringent environmental regulations and focus on clean water is foreseen to boost the demand for biocides in the coming years. Market Research Future (MRFR) forecasts the global biocides market to expand moderately and achieve high growth revenues over the next couple of years. 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. Rebound in constructional activities across the globe, especially in North America and Asia Pacific has supported the growth of the biocides market. Biocides are used in wood preservation and paint & coatings in the construction industry.
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Biocides find relevance in the food & beverage industry too. They are used in food contact materials (FCMs) and active packaging materials to prevent microbial contamination since food spoilage causes significant economic damages at all stages of the food production chain. Biocides find major application in water treatment which is a key factor driving the growth of the market. Biocides are the preferred product for water treatment in spas and swimming pool since they pose minimum threat to human health.
Biocides consumption is expected to rise significantly in the backdrop of outbreak of various water-borne diseases which necessitate water treatment. Need for portable water in domestic and industrial applications is also expected to fuel the demand for biocides. Biocides are also experiencing heightened demand from the energy sector which is complemented by the increase in the use of hydraulic fracturing techniques in the energy sector. Biocides are used as well stimulation fluids in hydraulic fracturing to prevent corrosion and production issues. However, the market growth of biocides might be limited by the harmful effects related to biocides. Moreover, the formulation of stringent norms against the use of biocides also acts as impediment to the growth of the global biocides market. Concerns about the negative impacts of biocides have directed focus towards development of higher value environmentally less harmful biocides which is expected to provide growth prospects to the global biocides market.
The global biocides market is marked by the presence of companies such as Arch Chemicals Inc., Cortec Corporation, Buckman Laboratories International Inc., GE Water and Process Technologies, Anpath Group Incorporated, Ashland Inc., Sigma-Aldrich, Lanxess AG, Champion Technologies, AkzoNobel N.V., BASF, BWA Water Additives, Clariant AG, The Dow Chemical Company, Thor Group Limited, Albemarle Corporation, Akcros Chemicals, Solvary SA, Baker Hughes Incorporated, Troy Corporation, and Lubrizol.
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The region-wise analysis of the global biocides market includes regions such as North America, Asia Pacific, Europe, and the Rest of the World. A strong rebound of constructional activities along with inflated demand from the food & beverage industry supports the growth of the North America market for biocides. Asia Pacific market for biocides is expected to exhibit strong growth due to the expansion of the manufacturing industry in the region. Businesses are shifting manufacturing capabilities to Asia Pacific to capitalize on the low labor cost in the region. Moreover, government initiatives to increase awareness about hygiene has raised the use of biocides in the region.
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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