BIOCIDES MARKET TO REACH USD 14.4 BILLION BY 2027 | CAGR 4.5% — FORENCIS RESEARCH
Global Biocides Market: Key Highlights
- According to the new market research report “Biocides Market by Type (Halogen Compounds, Metallic Compounds, Organosulfur Compounds, Organic Acids, Phenolic Biocides), by Application (Food & Beverages, Water Treatment, Construction, Agriculture, Pharmaceutical, Personal Care, Paints & Coatings), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) — Global Forecast (2020 to 2027)”, the global Biocides market is estimated to reach USD 14.4 Billion by 2027 at a CAGR of around 4.5% during the review period.
- Biocidal products are active substances or compositions intended to destroy, deter, render harmless, or exert a controlling effect on any harmful organism by chemical or biological means
- Based on their properties, biocidal products can act as disinfectants, preservatives, or pesticides in various end-use applications
- 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.
Global Biocides Market: Key Market Dynamics
- Biocide chemicals are widely used in cooling towers, spas and swimming pools, sewage treatment, and industrial wastewater treatment, thus the increasing demand from water treatment application is expected to propel the global biocides market during the forecasted period.
- Moreover, increasing demand for high performance sanitizing and cleansing solutions in food & beverage is also a key factor that driving the global biocides market
- However, the stringent regulatory framework for biocidal products and the resultant additional costs concerning their manufacturing and registration is likely to hamper the global biocides market
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Global Biocides Market: Regional Overview
- North America
North America is expected to account for the largest share in the global biocides market during the forecast period. This is owing to the presence of a large number of companies in the region, specialising in nearly every industry including food and beverages, water purification and painting and coating, all of which are the largest consumers of biocides. Due to the aging of the existing water and wastewater treatment units in the country, the US Environmental Protection Agency (USEPA) is emphasizing on the improvement of water and sewage services, especially in the municipal wastewater treatment.
Asia-Pacific is expected to grow at a higher CAGR of the biocides market during the forecasted period, owing to, heavy demand for treated water in China, India, and Southeast Asian countries for residential and industrial applications. The industrial capacity of these countries is also increasing at a considerable rate, which, in return, is expected to propel the demand for biocidal products in the region.
Global Biocides Market: Key Players Overview
- BASF SE:
BASF SE is one of the leading chemical company across the globe. The Company’s portfolio comprised of six business segments including Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. The Chemicals segment consists of the Petrochemicals and Intermediates divisions. The Materials segment consists of Performance Materials and Monomers divisions. BASF SE has Approximately 3,000 research project and 361 production plant worldwide. BASF offers a strong and effective range of biocides marketed under the Protectol and Myacide trade names.
- Akzo Nobel N.V.:
Akzo Nobel N.V. is a Netherland based one of the leading manufacture and sale of coating and paint products company. The company majorly operates through two business segments namely, decorative paints and performance coatings. The Decorative Paints segment manufactures and supplies a range of interior and exterior decoration and protection products for professional and do-it-yourself markets. The performance coatings segment serves to automotive and aerospace and other industrial application. .
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