The global biocides market is projected to reach 1,376.6 kilotons by 2024, registering a CAGR of 4.4% during the forecast period. The market for biocidal products is primarily driven by the growing demand for treated water and the increasing use of biocidal formulations in consumer products, according to P&S Intelligence.
Water treatment is one of the key application areas of biocidal products. These products are widely used at waterworks to maintain the microbiological quality of water before and during distribution. Besides, they are used to disinfect industrial equipment associated with the production, transportation, and storage of water. In addition, biocidal products act as disinfectants, sterilants, and preservatives in products such as building materials, detergents, cosmetics, paints, and furniture to improve their quality, shelf life, and performance.
Insights into market segments
Among all types of biocidal products, halogenated biocides witnessed the highest demand in the biocides market, accounting for a sales volume of more than 400 kilotons in 2018. The high consumption of halogenated biocidal products can be ascribed to the wide usage of chlorine and bromine in water treatment applications and the use of iodine in healthcare products. The growing demand for treated water across the globe is further expected to propel the demand for halogenated biocidal products during the forecast period.
Of all applications of biocidal products, water treatment held the largest share in the market, with nearly 45% sales volume in 2018. The increasing demand for potable water in countries such as the U.S., China, India, and Indonesia is resulting in the development of new plants for treating contaminated water. In addition, several industries, including oil and gas, pharmaceuticals, and food and beverages, are highly dependent on treated water for operations. Thus, the high demand for treated water for residential and industrial purposes is propelling the biocides market across the globe.
Market to witness the fastest growth in Asia-Pacific
The biocides market is expected to witness the fastest growth in Asia-Pacific (APAC), demonstrating more than 7.0% CAGR during the forecast period. The market in the region is mainly driven by the heavy demand for treated water in China, India, and Southeast Asian countries for residential and industrial applications. The industrial capacity of these countries is increasing at a considerable rate, which, in turn, is boosting the demand for biocidal products in the region.
Browse report overview with 75 tables and 46 figures spread through 145 pages and detailed TOC on "Biocides Market Research Report: By Type (Halogenated, Metallic, Organosulfur, Organic Acid, Nitrogenous, Phenolic), Application (Water Treatment, Preservation, Human Hygiene, Household, Industrial, and Institutional (HI&I) Cleaning), Regional Insight (U.S., Canada, Germany, France, U.K., Italy, China, India, Japan, South Korea, Brazil, South Africa) – Global Industry Analysis and Growth Forecast to 2024" at:https://www.psmarketresearch.com/market-analysis/biocides-market
Biocides market’s competitive landscape
Some of the major players operating in the biocides market are BASF SE, DowDuPont Inc., Lanxess AG, Clariant AG, AkzoNobel N.V., Solvay S.A., Kemira Oyj, Thor Group Limited, Troy Corporation, and The Lubrizol Corporation.
GLOBAL BIOCIDES MARKET SEGMENTATION
Market Segmentation by Type
Market Segmentation by Application
Market Segmentation by Geography