An increase in demand from paints and coatings and water treatment industry is driving the demand for the market.
Market Size – USD 10.09 Billion in 2019, Market Growth – CAGR of 4.5%, Market Trends – Growing demand in the food and beverage sector.
The global Biocide market is forecasted to reach USD 14.31 Billion by 2027, according to a new report by Reports and Data. Biocides are chemical products or microorganisms that are used to control the harmful pathogens by chemical or biological synthesis. It is non-toxic in nature, has high cleansing action, and has high resonance with solvents, which makes it compatible with different end-use industries.
It is widely used in the manufacture of personal products, due to its dual nature. It can be used in antimicrobial agents as well as preservatives in face wash, manufacturing soaps, and cleansing conditioners. Consumers are switching to high-quality products to protect themselves from skin infections, which will foster market demand.
Biocides are used in the healthcare sector, primarily for disinfection purposes of equipment, water, surfaces, and antisepsis. It is also used for the preservation of medicinal and pharmaceutical and sterilization of medical products. Several medical products contain low concentrations of biocides, such as curtains, linens, mops, and mattresses, to control the spread of infection in the hospitals.
The Covid-19 Impact
The current scenario of the COVID-19 pandemic has led most of the people to address safety and public health conditions. This is leading to an increase in demand for disinfectants. The products are flying off the racks as they are being stockpiled, and manufacturers have started production in large quantities to meet the requirements of the consumers. The demand has surged exponentially, and the market will face a steady demand even when the impact of COVID-19 has reduced.
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Key participants include BASF SE, Akzonobel N.V., The DOW Chemical Company, Troy Corporation, Kemira OYJ, Lanxess AG, Thor Group Limited, Solvay SA, The Lubrizol Corporation, and Clariant AG among others.
Further key findings from the report suggest
- Halogen compounds held a significant share and are quite effective in microbial growth control agents. They are efficient, less costly, and have several applications, and low resistance. The increase in demand for biocides that are in accordance with environmental norms is growing for developing countries.
- The growing importance of the preservatives in cosmetics to increase shelf life coupled with the upgrading product quality and rising beauty awareness among the population has resulted in an increase in product sales, thus fostering the demand for market growth.
- There has also been an elevating awareness and understanding of the association between personal hygiene, personal care, and health in developing regions, which is also supporting the expansion of the sector in emerging nations. The expansion of the industry is also supported by healthy employment and growing GDP.
- Asia Pacific is forecasted to grow with a higher CAGR of 5.0% during the forecast period. The region is heavily populated and home to some contagious diseases. The high poverty level and the existence of slums in poor and developing nations increases the chance of infection and the need to have a hygienic surrounding is crucial in the region.
To identify the key trends in the industry, click on the link below: @ https://www.reportsanddata.com/report-detail/biocide-market
For the purpose of this report, Reports and Data have segmented into the global Biocide market on the basis of the type, product type, application, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Metallic Compounds
- Organic Acids
- Halogen Compounds
- Phenolic Biocides
- Organosulfur Compounds
- Other Biocides
Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Pest Control
Application Outlook (Revenue, USD Billion; 2017-2027)
- Water Treatment
- Personal Care
- Wood Preservation
- Paints and Coatings
- Food and Beverage
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Asia Pacific
- Latin America
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Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Biocides Market Segmentation & Impact Analysis
4.1. Biocides Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
220.127.116.11. Increasing Demand for Water for Domestic as Well as Industrial Purpose
18.104.22.168. Growth in end-use industries
4.2.3. Market restraints analysis
22.214.171.124. High cost of raw materials
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
Chapter 9. Competitive Landscape
9.1. Market Revenue Share By Manufacturers
9.2. Manufacturing Cost Breakdown Analysis
9.3. Mergers & Acquisitions
9.4. Market positioning
9.5. Strategy Benchmarking
9.6. Vendor Landscape
Chapter 10. Company Profiles
10.1. BASF SE
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Technology Insights
10.1.4. Strategic Initiatives
10.2. Akzonobel N.V.
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Technology Insights
10.2.4. Strategic Initiatives
10.3. The DOW Chemical Company
10.3.1. Company Overview
10.3.2. Financial Performance
10.3.3. Technology Insights
10.3.4. Strategic Initiatives
10.4. Troy Corporation
10.4.1. Company Overview
10.4.2. Financial Performance
10.4.3. Technology Insights
10.4.4. Strategic Initiatives
10.5. Kemira OYJ
10.5.1. Company Overview
10.5.2. Financial Performance
10.5.3. Technology Insights
10.5.4. Strategic Initiatives
10.6. Lanxess AG
10.6.1. Company Overview
10.6.2. Financial Performance
10.6.3. Technology Insights
10.6.4. Strategic Initiatives
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