Biocides Market Overview
The major trend witnessed in the global biocides market is the rising investments for product development and increasing new product launches by biocidal product manufacturers. For instance, in October 2018, DowDuPont Inc.’s microbial control division introduced two new winterized AQUCAR water treatment biocidal products for hydraulic fracking, a major process in shale oil and gas exploration, and production.
Biocides are active biological or chemical compounds that are used to control the growth of or kill harmful organisms, such as bacteria and fungi. However, excessive use of biocidal products can be harmful to human beings and the environment at large. The usage of biocidal products is, therefore, regulated under the directive 98/8/EC of the European Union (EU), also known as the Biocidal Products Directive, wherein these products are categorized into 22 types based on their application. In this report, the biocides market is segmented on the basis of product, application, and region.
On the basis of product, the biocides market is categorized into halogen compound, organosulfur, organic acid, metallic compound, phenolic compound, and nitrogen compound. Of these, halogen compounds held a significant market share during the historical period. The low cost of halogen compounds and the easy availability of raw material (such as chlorine, bromine, and iodine) required for the manufacturing of these compounds are the major factors driving the market growth of this category. Organosulfur is the second-largest category in the market; the antifungal and antibacterial properties of organosulfur make it suitable for use in healthcare products for inhibiting the growth of microorganisms on plastic and metal surfaces.
Major application areas of biocidal products include water treatment, food and beverages, personal care products, wood preservation, paints and coatings, oil and gas, and boilers. Of these, water treatment accounts for a significant share in the biocides market, owing to the increased demand for biocidal products for the removal of contaminants and harmful bacteria from water. Food and beverages constitute the second-largest application area of biocidal products, owing to the rising need to control microbial growth in food and drinks and the growing usage of preservatives in ready-to-eat food products.
Based on geography, the biocides market is categorized into North America, Europe, Latin America, Asia-Pacific (APAC), and the Middle East and Africa. Among all regions, North America accounts for the largest share in the market. This can be mainly attributed to the rising investments in the construction industry of the region, resulting in the increased demand for paints and coatings that comprise biocidal products in their composition to fight microbial growth. Besides, the market is expected to witness promising growth in the APAC region on account of the growing demand for biocidal products in various industries, including construction, oil and gas, and food and beverages.
Biocides Market Dynamics
The biocides market is growing on account of the rising need for water treatment for domestic as well as industrial purpose, increasing consumption of food and beverages, and growing usage of paints and coatings for construction applications. Water treatment is expected to continue being the largest application area of biocidal products and contribute significantly to the market growth in future as well. This is largely due to the ever-rising demand for treated water for both industrial and municipal use. Furthermore, rapid growth in population, especially in developing countries, is expected to increase the demand for clean water, which, in turn, would positively impact the market growth in the near future.
The usage of biocidal products is also growing rapidly in the food and beverages industry, due to increased measures toward ensuring hygiene and food safety. In addition, the end-user consumption of healthy, nutritious, and minimally processed food is increasing, which, in turn, is resulting in a high demand for antimicrobial agents in the industry, thus boosting the growth of the biocides market.
Stringent regulations by several government organizations, such as the U.S. Environment Protection Agency and the European Union (EU), are hindering the growth of the biocides market to some extent. For instance, the EU Biocides Regulation 528/2012 provides authorization for the use of biocidal products in the EU region on the basis of their toxicity to humans and to the environment. Besides, in March 2018, South Korea’s Ministry of Environment introduced a new law, K-BPR, stating approval process for active substances and biocidal products. Thus, such laws restrain the adoption of these products and, in turn, negatively affect the market growth.
Biocides Market Competitive Landscape
Some of the major companies operating in the global biocides market are Troy Corporation, THOR Group Ltd., LANXESS, BASF SE, Lubrizol Corporation, CLARIANT, DowDuPont Inc., Akzo Nobel N.V., Kemira Oyj, and Solvay SA.
The study provides the historical as well the forecast market size data for various countries, including the U.S., Canada, France, Germany, the U.K., Italy, Spain, Japan, China, India, Brazil, Saudi Arabia, and South Africa.