Biocides Market Size By Application (Food & beverage, Water treatment, Wood Preservation, Paints & Coatings, Personal Care, Boilers, HVAC, Fuels, Oil & Gas), By Product (Metallic Compounds, Halogen Compounds, Organic acids, Organosulfur, Nitrogen, Phenolic), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024
Published Date: Oct 2017 | Report ID: GMI150 | Authors: Kunal Ahuja, Shreya Deb
Biocides Market size surpassed USD 9.5 billion in 2017 and should witness growth of over 5% from 2018 to 2024.
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Growing refinery expansion to fulfil significant requirement for petroleum, declining crude oil prices and rising investment in oil exploration & production operations should stimulate biocides market growth. Global oil consumption should surpass 105 million barrels by 2035 which represents healthy growth potential. These products find routine usage as treatment chemicals throughout the oil exploration & refining operation from well development & transmission to natural gas storage. Rising technological advancement has improved accessibility of offshore gas fields and government efforts to improve gas transmission & distribution infrastructure should further fuel product demand.
Booming construction industry in China, Japan and India owing to rising investment for infrastructure development has led to growing requirement of paints & coatings which should boost market growth. These products are essential for preventing paint spoilage during storage & transportation and enhance its long-term performance by inhibiting microbial growth. Global coatings market size exceeded USD 150 billion in 2017 which indicates ample growth potential. Growing demand for paints & coatings from the oil & gas industry along with substantial expansion of the automotive sector should further drive biocides industry growth.
The prevalence of stringent regulatory requirements such as the U.S. Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA) which regulates the registration, usage, sales & disposal and disposal of these products should hamper market growth. Similarly, the EU Biocidal Products Regulation deals with the active substances present in the products to ensure protection of human and environmental health. However, various manufacturers are engaged in significant research & development activities to offer eco-friendly products to reduce the threat of hazardous waste and accumulation in the environment which should promote market growth.
|Base Year:||2017||Market Size in 2017:||9.5 Billion (USD)|
|Historical Data for:||2013 to 2017||Forecast Period:||2018 to 2024|
|Forecast Period 2018 to 2024 CAGR:||5%||2024 Value Projection:||13 Billion (USD)|
|Pages:||185||Tables, Charts & Figures:||136|
|Geographies covered (13):||U.S., Canada, Mexico, Germany, UK, France, Italy, Russia, Denmark, China, India, Japan, South Korea, Thailand, Malaysia, Brazil, Saudi Arabia, UAE, South Africa|
|Segments covered:||Application, Product and Region|
|Companies covered (21):||AkzoNobel, Valtris Specialty Chemicals, Albemarle Corporation, Lonza, Business Segment, Nalco Champion, The Lubrizol Corporation, Baker Hughes Incorporated, BASF SE, Business Segment, BWA Water Additives, GE Water and Process Technologies, Solvay SA, Sigma-Aldrich Corporation, Thor Group Limited, Buckman Laboratories International Inc., Cortec Corporation, Clariant AG, Troy Corporation, Dow Chemical Company, Lanxess AG, Kemira OYJ, DuPont|
|Pitfalls & Challenges:||
Biocides Market, By Product
Global organosulfur product demand surpassed USD 1.1 billion in 2017 and should grow significantly owing to increasing demand from in automobiles, HVAC & air conditioning and heavy engineering industries. These products are extensively used in cooling water systems & oil refineries pertaining to their low reactivity and ability to inhibit biofouling. Rising product demand from plastics and food additives industries is likely to stimulate market growth.
Global organic acid product demand should register over 5.5% gains up to 2024 pertaining to rising consumption of meat and poultry products which has increased the requirement of food preservatives. These products are routinely used in ham and sausage preservation on account of their strong antimicrobial properties. Growing product demand from pharmaceutical, adhesives, textiles and petrochemical industries is likely to further accelerate biocides market revenue.
Global phenolics product demand should register over 7% gains in the foreseeable timeframe on account of growing requirement from food packaging and healthcare industries. They find widespread usage in metalworking, disinfectants, surgical scrubs, antiseptics, toilet soaps and cosmetics industries owing to their broad spectrum of activity against both fungi and bacteria. Significant technological advancement ensuring improvement in yield & safety and growing commercial & residential construction should boost market growth.
Biocides Market, By Application
Global water treatment applications market size is likely to be valued at about USD 3.5 billion by 2024 owing to significant population growth stimulating freshwater requirement. They are routinely used in cooling water towers to restrict the growth of bacteria, algae, protozoa and fungi, thereby making the water fir for industrial and domestic use. Growing water requirement for shale gas exploration along with increasing investment in water treatment infrastructure & innovation should stimulate the biocides market demand.
Global personal care applications demand is likely to register over 5.5% gains up to 2024 pertaining to rising disposable incomes and growing demand for organic cosmetic products. These products inhibit microbiological growth in perishable cosmetics resulting in enhanced shelf life and consumer safety. Growing awareness of male health & personal grooming along with an increase in the elderly population segment should promote market growth.
Global HVAC applications market size should witness about 4% gains by the end of the foreseeable timeframe owing to rising demand for energy efficient ventilation & heating systems. These products play an essential role in HVAC systems for eliminating odor caused by various microorganisms such as mold, mildew and bacterial growth. Rising temperature, increasing disposable incomes and government tax benefits for energy efficiency should promote market growth.
Biocides Market, By Region
North America, driven by Canada, Mexico and U.S. biocides market demand should register gains close to 4.5% during the foreseeable timeframe owing to booming food & beverage industry and the presence of a strong distribution which includes including supermarkets, hypermarket, grocery stores, online stores. These products are extensively used in packaging material to prevent microbial contamination of food and increase packaged food lifespan. Increasing health awareness among consumers supported by the convenience and portability of packaged food has led to rise in convenience food consumption, which should promote market growth.
Europe biocides market size driven by France, UK, and Germany surpassed USD 2 billion in 2017 and should rise further pertaining to increasing demand from paint & coatings and oil & gas industries. These products are extensively used in architectural paints, general industrial, protective, marine, wood, automotive OEM & refinish, plastic and powder coatings. Growing construction industry with rise in infrastructure investment and high disposable incomes should boost market growth.
Asia Pacific driven by Japan, India, China and South Korea market size should register over 6.5% gains by the end of the predicted timeframe owing to booming manufacturing sector and significant population growth. These products find widespread usage in domestic & industrial water treatment to eliminate waterborne diseases and prevent industrial product contamination. The presence of various agro based industries along with significant prevalence of livestock farming should are likely to further accelerate market growth.
Competitive Market Share
Global biocides industry share is highly consolidated and includes various manufacturers such as Arch Chemicals, Troy Corporation, Thor Specialties, Dow Chemicals, LANXESS and BASF. Various market participants are engaged in strategic acquisitions to expand their product portfolio and product launches to achieve market growth.
These products are substances containing active ingredients that regulate, destroy, or eliminate adverse effects of harmful organisms either by chemical or biological action. These substances are extensively used in the healthcare, water treatment, consumer goods and food & beverage industries to restrict bacterial & fungal growth and enhance product shelf life. Growing requirement for potable water owing to rising urbanisation and population growth should drive the biocides market size.
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