Biocides Market

Product Overview

Biocides Market size was USD 10.2 billion in 2021 and projected to grow from USD 11.2 billion in 2023 to USD 16.9 billion by 2032, exhibiting a CAGR of 4.7% during the forecast period.

Biocides are chemical material utilized to destroy, sterilize and avoid the existence of microorganisms like bacteria, viruses, fungi etc. Biocides are generally united with other products based on the applications in paints & coatings, consumer goods, water treatment industries etc. Biocides are classified based on raw material source into natural & synthetic biocides. The investments in research & development activities by the manufacturers from different countries is expected to drive the biocides market demand. The acceptance of biocides has increased owing to their efficient properties and low cost.

Market Highlights

Biocides Market is expected to project a CAGR of 4.7% during the forecast period, 2022-2032

Biocides Market is expected to reach USD 16.9 billion, growing at a CAGR of 4.7% during forecast period owing to the increasing awareness on maintaining cleanliness and self-hygiene which is driving market growth. Biocides are used in cosmetics & wipes, cleaning products, toothpaste, disinfectants, laundry detergents etc. The increasing sensitivity of people to dust & allergies along with the increasing usage of biocides in preservatives fungicides, herbicides etc is boosting the growth of Biocides market.

Biocides Market Segmentation

Halogen Compounds segment is expected to grow with high CAGR during the forecast period

Biocides Market is classified based on the Type into Organic Acids, Halogen Compounds, Nitrogen Based Biocides {Quaternary Ammonium Compounds}, Phenolic Biocides, Organosulfur Compounds, Metallic Compounds, Others. Halogen compounds segment dominated the market in 2021 and is expected to continue its dominance over the forecast period owing to the utilization of halogens like fluorine, chlorine, etc. as bases in compositions of biocides. An iodine-based compound, iodophor boost the iodine’s biocidal potency and stability.

Water Treatment segment is expected to grow with high CAGR during the forecast period

Biocides Market is classified based on the Application into HVAC, Boilers, Water Treatment, Fuels, Boilers and Industrial Cooling Towers, Food and Beverage, Personal Care, Paints and Coatings, Metal Working Fluids, Wood Preservation, Leather, Oil and Gas, Pharmaceutical, Construction, Agriculture, Marine Industry, Plastics, Others. Water treatment segment dominated the market in 2021 is expected to continue its dominance over the forecast period owing to the rising population and high necessity for safe drinking water which is anticipated to drive the demand for segment growth in the market.

Market Dynamics

Growth Drivers

Increasing Shift Towards Biocides is Expected to Boost the Growth of the Market

Several new transformations by different MNC’s is increasing to extend the product line and reduce the possible adverse effects caused by biocides and the increasing inclination towards natural biocides is expected to boost the growth of the market during the forecast period. The necessity of wood preservation and water treatment is increasing in few countries which may drive the demand for biocides market growth. The frequent use of wood in different fields along with the growing demand for biocides from paints & coatings market is anticipated to drive the market growth.

Growing Requirement for Wastewater Treatment is Expected to Boost the Growth of the Market

Wastewater treatment is necessary for removing any contaminants from the water and aid in changing them into outflow that can be reprocessed into the water cycle. Wastewater treatment plant for domestic wastewater is called a sewage treatment plant. Various other wastewater treatment plant types involve leachate treatment plants, agricultural wastewater treatment plants etc. Halogen biocides are chemical utilized to eliminate or regulate hazardous organisms and chlorine and bromine terminate bacteria through oxidation. The growing necessity for wastewater treatment may drive the demand for growth of the Biocides market.

Restraint

Growing Health Issues May Restrain the Growth of the Market

The utilization of biocides results in adverse health issues which may restrain the market growth. The implementation of regulatory policies to reduce the side effects of biocides, which can restrain the market is anticipated to hamper the market growth.

Recent Developments

• In July 2022, a specialty chemicals company, LANXESS, obtained the microbial control business unit of International Flavors & Fragrances Inc.
• In April 2021, Veolia and Suez declared acceptance that permit the innovation of new Suez made up of assets establishing a sustainable group from an industrial and social standpoint.

Biocides Market

Key Players Covered:

• Neogen Corp.
• Chemtreat, Inc.
• Troy Corp.
• Iro Group Inc.
• Finoric LLC
• Lenntech
• Shanghai Zhongxin Yuxiang Chemicals Co. Ltd.
• Baker Hughes Incorporated
• The Dow Chemical Company
• Lanxess AG
• Clariant AG
• Albemarle Corporation
• Lubrizol
• BASF SE
• Lonza
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Biocides Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia Pacific region dominated the market in 2021 owing to the presence of huge population which required the disinfectants during the pandemic and high demand for cleaning products which had boosted market growth. The necessity of cost-effective and systematic biocide ingredients had increased. The rising acceptance of water-based paints & coatings due to their eco-friendly nature may boost the market growth.

Impact of Covid-19 on Biocides Market

The COVID-19 outbreak had resulted in the economic downfall. Several countries had imposed travel restrictions and lockdown measures to control the spread of virus. The end-use industries were impacted during the pandemic period. Biocides have several applications in paints & coatings field and can be helpful in automotive, construction industries. The global lockdown has led to a shutdown in the manufacturing of the above sectors. The disruptions in imports and exports of paints and automobiles had negative impact on biocides market growth.

Biocides Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA.

Biocides Market Scope and Segments:

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