Biocides Market Overview:
Global Biocides Market was valued at $6,479 million in 2015, and is expected to reach $9,912 million by 2022, supported by a CAGR of 6.3% during the forecast period 2014 - 2022. Biocides inhibit the microbial activities, and their effectiveness varies with the concentration and duration of exposure. They are produced in liquid & powder forms as well as concentrates, and are applicable in distinct end-use industries such as agriculture, waste water treatment, pharmaceutical, and personal care. They find major applications in drinking water treatment, wastewater treatment, ship ballast water treatment, disinfectants in hospitals, and as antifouling agents that prevent mollusks to accumulate in industrial pipes.
The global biocides market is segmented based on type, end user industry, and geography. On the basis of type, the market is segmented into metallic compounds (copper based, magnesium based, mercury based, and others), halogen-based derivatives (chlorine, bromine, iodine, and others), organic acids (lactic acid, formic acid, and others), sulfones, phenol based, and others (nitrogen based and inorganic biocides). By end user industry, the market is categorized into food & beverage, construction, agriculture, pharmaceuticals, personal care, water treatment, paints & coatings, and others (oil & gas and paper & pulp industry). The metallic compounds subsegment comprises copper-based compounds, mercury based, and magnesium based, and these compounds are predominantly used in industrial preservation process, food & beverage, construction, agriculture, paints & coatings, and water treatment applications.
The global biocides industry offers various opportunities to market players, owing to rapid growth in the global economy and disposable incomes. Increase in the use of biocides in water treatment and agriculture industry as pesticides and insecticides and rise in awareness about clean water are the key factors that accelerate the growth of the global biocides market. In addition, halogen-based biocides are expected to witness rapid adoption in industrial preservation applications such as wood preservation, water treatment industry, and metal working fluids. However, environmental issues associated with the emission of halogenated biocides, such as endocrine disruptions and carcinogenic properties, have resulted in the formulation of stringent norms, regulations, and protocols, especially on the use of chlorine and bromine in water treatment industry.
Growth in demand for biocides as preservatives in food & beverage industry and rise in demand from reviving construction industry in North America, followed by Asia-Pacific drive the biocides market growth. Moreover, increase in per capita disposable incomes in developing countries such as China, India, and Indonesia has led to upsurge in the use of biocides, thereby leading to unprecedented increase in demand for biocides globally. In addition, surge in demand for adhesives and sealants further generate the need for greater quantities of in-can preservatives and dry film fungicides, as adhesives and sealants are more susceptible to microbial attack. Furthermore, regulatory framework to enforce industrial water treatment standards is expected to drive the market growth.
Top investment pockets
Construction industry offers the maximum market potential in the global biocides market, owing to rapid urbanization and favorable macroeconomic factors. Increased need for water treatment in various sectors such as household, industrial, and commercial has led to the growth in demand for biocides. Moreover, India and China have witnessed major development in the construction industry, owing to constant growth in economy and rise in living standards. The construction end user industry segment is expected to register a significant CAGR during the forecast period. Furthermore, use of biocides in agriculture and water treatment industries is increasing globally, and are the potential markets for biocides.
Top Investment Pockets
The global biocides market is segmented on the basis of type, end use industry, and geography. Based on type, the market is classified into metallic compounds, halogen-based derivatives, organic acids, sulfones, phenol based, and others. The metallic compounds segment dominated the global market in 2014, and is anticipated to maintain its dominance throughout the forecast period. The halogen-based segment is projected to grow at a significant CAGR of 5.2% during the forecast period.
Biocides Market Share, By Type, 2015 (%)
The global biocides industry is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for a considerable share of the total revenue in 2015, followed by North America and Europe. Developing economies in Asia-Pacific such as Korea, China, and India are anticipated to witness a significant growth rate owing to increase in developments in agrochemicals and water treatment applications. In addition, rise in investments by pharmaceutical companies in R&D on the use of biocides for specific medicinal formulations is another key element that fuels the growth of the market.
Prominent players have largely invested in R&D activities to develop advanced products to cater to the requirements of the market. The key players operating in the industry include The Dow Chemical Company, Troy Corporation, BASF SE, Thor Group, AkzoNobel N.V., Clariant Corporation, Lanxess AG, Solvay SA, Kemira OYJ, and Lonza Chemicals.
Other players in the value chain (profiles not included in the report) include Ashland, Arch Chemicals, Champion Technologies, ISP Chemicals, Baker Hughes, Melzer Chemicals, Dupont, Kemira Oyj, Nalco Champion, Bio Chemical, and Xingyuan Chemistry.
BIOCIDES MARKET KEY BENEFITS:
- The report provides an extensive analysis of the current trends and future projections of the global biocides market.
- The report provides comprehensive analysis of North America, Europe, Asia-Pacific, and LAMEA to understand the regional trends.
- The report includes the qualitative and quantitative analyses of the current market from 2014 to 2022 to determine the prevailing opportunities.
- Comprehensive analysis of factors that drive and restrict the growth of the market is provided in the report.
- Extensive analysis is conducted by following key product positioning and by monitoring the top competitors.
- The report provides extensive qualitative insights on the potential and niche segments or regions.
- The report provides key insights on strategic analysis of various companies as well as the value chain analysis of biocides.
BIOCIDES MARKET KEY SEGMENTS
- Metallic Compounds
- Copper Based
- Mercury Based
- Magnesium Based
- Others (Tin, Tellurium, and Silver)
- Halogen-Based Derivatives
- Others (Fluorine and Astatine)
- Organic Acids
- Formic Acid
- Lactic Acid
- Phenol Based
- Others (Nitrogen Based and Inorganic Biocides)
By End User Industry
- Food & Beverage
- Personal Care
- Water Treatment
- Paints & Coatings
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA