Biocides Market size is expected to reach USD 12.01 billion by 2022: Global Market Insights, Inc.
Biocides Market size is expected to reach USD 12.01 billion by 2022; according to a new research report by Global Market Insights, Inc.
Increasing waste water treatment system coupled with stringent environmental regulations will drive global biocides market size growth. Increased health awareness related to bacterial growth and pathogens particularly in Asia Pacific and Latin America will stimulate product growth.
North America, led by Mexico, Canada and U.S biocides market size, dominated demand, with U.S. set to surpass USD 3.7 billion by 2023. may boost product demand paints & coatings applications. U.S government has invested significant amount of revenue to infrastructural development factor which may drive paints & coatings demand. VoC emission norms have led to paint manufacturers focusing on low emission formaldehyde free products. However, low emission paints are more susceptible to microbial activity which may promote biocides market size growth in paints to curb their activity.
Halogen compound based biocides market size dominates the product landscape, with growth set at 4.7% by 2022. Increasing application scope in municipal and industrial waste-water treatment with cooling systems has led to slower market growth owing to stringent regulations regarding halogen emissions. Halogen compounds are deployed as biocides in light of easy availability and low cost.
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Oil & gas applications are likely to witness strong gains, with strong O&G exploration & production indicators providing significant growth opportunities. Primary uses include optimizing production rates, curb corrosion, and keep away functional fluids from getting spoiled. Storage areas and wells have certain bacteria that produce hydrogen sulfide which can be flammable and explosive.
Stringent regulation regarding product authorization before placing an order along with active substances such as carcinogens, mutagens and reprotoxic substances may hinder demand and affect biocides market price trend. In the U.S., biocides are regulated under the Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA). This act aims at providing federal control over distribution, sale and use of all pesticides.
Key insights from the report include:
Growth in healthcare industry owing to technology advancement and low cost medical facilities is expected to fuel phenolic biocides demand in APAC.
Copper biocides market size may surpass USD 1.75 billion by 2022 with expected gains at above 4.5% CAGR.
APAC personal care application may witness significant gains and surpass USD 550 million by 2022. Increasing application scope to inhibit fungus & bacteria growth to improve self-life of liquid soap and shower gels may drive product demand in APAC.
China organic acid based biocides are expected to witness above industry growth at 7.5% CAGR and surpass USD 170 million by 2022. Germany biocide market demand for HVAC applications is poised to exceed USD 25 million by 2022.
Wood preservation application market share is set to grow at 4.5% CAGR up to 2022. Furniture industry growth in India and China on account of positive housing sector outlook at domestic level is expected to have a favourable impact on biocides market.
Organosulfur market share in Brazil is set to grow at over 5.8% CAGR by 2022. Global biocides market share is concentrated. Ashland, Troy, Dow, Arch Chemicals and Thor Specialties are among notable industry players. Other participants include BASF, AkzoNobel, Lanxess, Albemarle and Champion Technologies.
Browse key industry insights of industry report titled “Biocides Market Size & Forecast, 2015 – 2022” in detail along with the table of contents@: