The biocides market will exceed US $ 11.7 billion by 2031; Application as a disinfectant in industrial cleaning to stimulate growth
DUBAI, United Arab Emirates, October 8, 2021 / PRNewswire / – Certified market research firm ESOMAR Future Market Insights (IMF) in its latest market analysis predicts the size of the biocides market to exceed 8.3 billion US dollars in 2021. With the increasing demand for halogen compounds in various applications, the global market is poised to expand to over 3.3% CAGR between 2021 and 2031, reaching a valuation of $ 11.74 billion by the end of 2031.
The growth of the biocides market can be attributed to the increasing demand for biocides for application in various industries such as water treatment, household and personal care, etc.
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Biocides are increasingly used to control the reproduction of unwanted organisms such as bacteria, fungi, insects and viruses. They represent a variety of products ranging from disinfectants and wood preservatives to rodenticides.
They are commonly used in all industries as disinfectants for a rapid response against the threat of germs and bacteria. The increasing demand for preservatives and disinfectants in various industries such as food and beverage, healthcare, wood and paints, will therefore continue to expand the biocides market during the forecast period.
The growing awareness of people regarding self-hygiene is playing a vital role in accelerating the demand for biocidal products. During the COVID-19 pandemic, sales of disinfectants have exploded, creating an environment conducive to market sales.
The application of biocides is expected to increase in industrial and public water treatment. Various initiatives launched by governments and other organizations around the world to provide safe drinking water create lucrative growth opportunities for the market.
The increasing adoption of paints and coatings, adhesives and sealants in the construction industry will also fuel demand in the market. As these products are more prone to microbial attack, canned preservatives and dry film fungicides are often used.
Biocides are widely used to maintain required levels of hygiene on farms, slaughterhouses and food processing premises. The adoption of biocides to reduce biofilm formation in cooling towers is also gaining ground.
According to IMF, the paints and coatings segment is expected to grow 3.3% year-on-year in 2021. Paint and coating companies are increasingly adopting biocides to combat microbial growth.
North America should become a lucrative market for biocidal products. Due to increasing demand from various industries, sales of biocides are expected to increase to 3% CAGR in North America.
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âThe growing demand for wastewater treatment coupled with government support will accelerate sales of biocides over the forecast period. The market should benefit from the development of green biocidal products. The emphasis on sustainability appears to be a crucial strategy for market players to strengthen their position. , “ said the IMF analyst.
Key points of the biocides market study
- The American biocides market is expected to reach a valuation of US $ 2.3 billion until 2031 due to the increasing adoption of halogen compounds in various industries such as paints and coatings.
- China will remain one of the key markets of East Asia, representing 72% of biocides sales.
- With the increasing use of biocides in water treatment activities, GCC countries are expected to account for 30.7% market share in the Middle East and Africa.
- By product type, the halogenated compounds segment is expected to dominate the biocides market, registering year-on-year growth of 3.6% in 2021.
- The demand for biocides in the water treatment segment is expected to exceed 3.8 billion US dollars by 2031.
- The increasing use of antimicrobial protection in various end-use industries is fueling the demand for biocides.
- The development of environmentally friendly biocidal products will continue to support market growth.
- The increase in the number of wastewater treatment plants promotes the demand for cleaning agents such as biocides. In addition, various efforts by governments to provide safe drinking water to their people will bode well for the market.
- The increasing adoption of disinfectants, preservatives and pesticides in sectors such as healthcare, agriculture and food and beverage will create lucrative growth opportunities for the growth of the biocides market.
- The harmful impact of various biocides on the environment and living organisms is hindering the growth of the market.
- Various regulations imposed by governments and other organizations to limit the harmful effects of biocides are also limiting the growth of the market.
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The main players operating in the biocides market are focused on the development of environmentally friendly biocides. They have adopted various organic and inorganic growth strategies such as mergers and acquisitions, new product launches, partnerships and collaborations to strengthen their global footprint.
- In August 2021, Lanxess signed a contract to acquire the biocidal business of International Flavors and Fragrance Inc. (IFF) with a purchase amount of US $ 1.3 billion. The purchase is expected to be finalized by mid-2020 and will help LANXESS expand its portfolio of biocidal products.
- In January 2021 BASF Canadian Agriculture Solutions has received the PMRA label extension from Health Canada for Serifel. New for the 2021 growing season, Serifel is an innovative biocide with multiple modes of action.
Some of the major players operating in the biocides market presented by IMF are:
- Clariant SA
- Lonza Group
- ICL Group
- BASF SE
- Trojan Society
- Kemira Oyj
- Ecolab United States Inc.
- Albemarle Company
- Solvay SA
- Lanxess AG
- Buckman International Laboratories
- Melzer Chemicals Private Limited
- Dalian Xingyuan Chemistry Co., Ltd.
- Aegis chemical solutions
- B&V chemicals
- Helvemed SA
- Thor Group
- SIDDHARTH CHEMICALS
- Zaozhuang Kerui Chemicals Co., Ltd.
- Shandong IRO Biocide Chemicals Co., Ltd.
More information on the global sales outlook for biocides
IMF provides unbiased analysis of the Biocides market, presenting historical demand data (2016-2020) and forecast statistics for the period 2021-2031. The study reveals compelling information on the global demand for biocides with detailed segmentation on the basis of:
- Food grade
- Pharmaceutical grade
- Industrial / technical quality
- Halogen compounds
- Metallic compounds
- Organic acids
- Food and drinks
- Water treatment
- Paints and coatings
- Cosmetics and personal care
- Petroleum gas
- Pulp and paper
- Wood preservatives
- Cleaning agents
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa
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Key Questions Addressed in the Biocides Sales Outlook Report
- Report provides insight into biocides demand outlook for 2021-2031
- The market study also highlights the expected sales growth for the Biocides market between 2021 and 2031.
- The Biocides market research identifies key growth drivers, restraints, and other forces impacting dominant trends and evaluating the current market size and forecast and technological advancements within the market. ‘industry
- Analysis of the biocides market share of key companies in the sector and coverage of strategies such as mergers and acquisitions, joint ventures, collaborations or partnerships, etc.
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