At 3.8% CAGR, Global Biocides Market Size to Hit $13,327.09

2022-06-24 20:42:27 By : Ms. Millie Zhuang

June 23, 2022 12:00 ET | Source: Facts & Factors Facts & Factors

NEW YORK, NY, June 23, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Biocides Market By Type (Oxidizing Biocides, Non-Oxidizing Biocides, Others), By Application (Water Treatment, Household & Personal Care, Paints & Coatings, Wood Preservatives, Other Biocides), and By Region - Global Industry Insights, Growth, Size, Share, Comparative Analysis, Trends and Forecast 2022 – 2028” in its research database.

“According to the latest research study, the demand of global Biocides Market size & share in terms of revenue was valued at USD 10,821.05 million in 2021 and it is expected to surpass around USD 13,327.09 million mark, by 2028, growing at a compound annual growth rate (CAGR) of about 3.8% during the forecast period 2022 to 2028.”

What are Biocides? How big is the Biocides Industry?

A biocide is a microorganism or chemical product that is designed to render, discourage, eliminate, or control hazardous germs through biological or chemical synthesis. Its properties such as excellent cleansing action, nontoxicity, and high resonance with solvents make it suitable for a wide range of end industries. Continuous R&D investments, the creation of synergic chemistries for product diversity, innovation, improved performance, and application expansion may all be linked to the company's growth. Developed countries/regions with stricter rules and environmental standards, such as the United States and the European Union, are likely to present profitable prospects for environmentally friendly or bio-based products.

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Global Biocides Market: Growth Factors

The global biocides market is being driven primarily by the increasing demand for effective wastewater treatment solutions, as well as the rising demand for clean and potable water. Biocides help to keep bacterial and algal contamination at bay in municipal drinking water systems, pool piping, and industrial water treatment systems. Additionally, the extensive use of biocides in the production of cleaning agents is propelling market expansion. They are particularly effective against grease, oil, germs, and pathogens and help to keep enclosed places clean. In line with this, the use of biocides in water-based paints and coatings to inhibit fungal or microbial growth on painted surfaces is also fuelling market expansion. Various product advances, such as the creation of environmentally acceptable halogen biocides, are also working as growth stimulants.

Other factors, such as growing industrialization and significant research and development (R&D), are expected to boost the market even more. With the increased population, scarce water resources must be used sustainably and made drinkable. Furthermore, wastewater must be cleaned because 80% of effluent ends up in the seas, rivers, lakes, and ponds untreated. This is driving the market growth in the coming years. The Biocides market is being hampered by limiting factors such as high manufacturing and registration costs, as well as the regulatory framework for biocidal products.

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The global biocides market is segregated based on type, and application.

In terms of type, oxidizing biocides are expected to be the fastest-growing kind in the Biocides market. Oxidizing biocides are substances that kill bacteria via the electrochemical process of oxidation. During the oxidation process, the biocide gains one electron from the bacteria, and this electron loss kills the organism. Oxidizing biocides perform best in systems that use a lot of water. Chlorine, bromine, iodine, chlorine dioxide, ozone, hydrogen peroxide, sodium chlorite, calcium hypochlorite, sodium hypochlorite, peracetic acids, hypobromous acid, and sodium bromide are the most common oxidizing biocides used in water treatment. They're less expensive than non-oxidizing biocides, and oxidizing biocides are widely employed in water treatment, according to industry experts.

In terms of application, the major application for the biocide market was household and personal care. In the forecast period, the biocides market size for household and personal care applications stood for the greatest part of worldwide biocides in terms of value, owing to the rapid rise in disinfectant demand caused by the pandemic. Health hygiene and awareness increased the demand for biocides in household and personal care products such as triclosan, isothiazolinones, chloroacetimide bronopol, and others.

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Some of the main competitors dominating the global biocides market include - 

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Biocides Market: COVID-19 Impact Analysis

Due of the COVID-19 epidemic's financial losses, the biocides market faced major obstacles. The market's industrial operations, including the manufacturing process, the production process, and other processes, were suspended when the government issued a lockdown. The supply chain operation was hampered when the sales rate was hindered. The market experienced a spike in demand from end users in the days after the lockdown was lifted. Due of their adaptability, biocides have a variety of uses.

Because killing dangerous bacteria is the primary function of biocides, demand for them grew throughout this time. The public and industrial sectors employed a range of disinfectant treatments to stop the virus's spread. As a result, the market is probably going to expand quickly in the coming years.

APAC is the largest biocide market. The APAC region's growth is being driven mostly by expanding local demand and rising exports to Western markets. The market in this area is being driven by rising demand for biocide products in the water treatment, household & personal care, paints & coatings, and food & beverage industries. China has the largest market share in the APAC area for biocides.

The Chinese chemicals market has grown as a labor-intensive, high-technology business that produces at a low operating cost and makes use of economies of scale. These policies have resulted in the Chinese manufacturing industry seeing exponential expansion, resulting in a large trade surplus for the country each year.

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The global biocides market is segmented as follows:

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