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Biocides Market Size - By Product (Halogen Compounds, QAC, Phenolic), By End-Use (HVAC, Paints & Coatings, Water Treatment) and By Region: Global Forecast, 2024 – 2033

  • PUBLISHED ON
  • 2023-12-20
  • NO OF PAGES
  • 235
  • CATEGORY
  • Agriculture

Market Overview

Biocides Market is on a trajectory to reach a valuation of USD 9.2 Billion by 2024. Sustaining a consistent and exponential growth pattern, this market is poised to elevate further, aiming for a substantial USD 12.76 Billion by 2033. With a Compound Annual Growth Rate (CAGR) of 3.7% projected during the forecast period from 2024 to 2033, the Biocides Market showcases steady expansion and promises to be a pivotal player in the coming years. Get ready for a resilient market making impactful strides in the realm of biocidal solutions.

 

SOURCE: We Market Research

Biocides are chemicals that are used to eliminate, suppress, or manage dangerous organisms like viruses, fungi, bacteria, and algae. These substances are used in the water treatment, healthcare, and agricultural industries for a variety of tasks, including surface disinfection and product preservation. The mechanism of action of biocides is to interfere with essential biological functions of the target organism, either killing it off or stopping it from growing. However, because of the possible harm to the environment and health concerns associated with their use, caution must be taken when using them. This highlights the importance of responsible application and regulatory supervision.

The market for biocides is being driven by a number of factors, including the need for microbial control in consumer goods, the increasing demand from end-use industries (such as healthcare, agriculture, and water treatment), and rising hygiene concerns. Strict regulations that promote the use of ecologically friendly biocides are another factor propelling market rise. Technological advancements that result in safer and more effective product formulations also contribute to the industry's growth. The rise in infectious diseases around the world has also raised the need for biocides, particularly disinfectants. This has supported the growth of the biocides market by raising demand for biocides across a variety of sectors.

Market Scope

Report Attributes

Description

Market Size in 2024

USD 9.2 Billion

Market Forecast in 2033

USD 12.76 Billion

CAGR % 2024-2033

3.7%

Base Year

2023

Historic Data

2016-2022

Forecast Period

2024-2033

Growth Drivers

Increasing awareness of hygiene and health standards, both in industrial and consumer settings, is driving the demand for biocides. These substances play a crucial role in preventing microbial contamination and ensuring the safety of products and environments.

Stringent regulations governing the use of antimicrobial agents and preservatives in different industries are boosting the demand for biocides that meet compliance standards. Industries are increasingly adopting biocidal solutions to adhere to regulatory requirements.

The global population growth and urbanization trends contribute to increased demand for biocides in various applications, such as water treatment and personal care products, to maintain hygiene levels in densely populated areas.

Report USP

 

Production, Consumption, company share, company heatmap, company production capacity, growth factors and more

Segments Covered

By Product, By End-use and By Region

Regional Scope

North America, Europe, APAC, South America and Middle East and Africa

Country Scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria

Biocides Industry: Dynamics & Restrains

Market Drivers

Increased awareness about hygiene and sanitation – The Biocides Market is driven by the growing awareness of cleanliness, which creates a pressing need for efficient sanitation solutions. Increased understanding of the vital role that biocides play in averting microbiological dangers is evident in a variety of industries, including food processing and healthcare. People are becoming more health conscious, and businesses are looking for strong biocidal chemicals to help them maintain strict hygiene regulations and provide safe spaces. This need stimulates research into novel formulations, resulting in a boom in the market. The market for biocides and hygiene consciousness are closely related, which emphasizes the critical role biocides play in promoting a clean environment and preserving health in the face of changing global issues.

Rising awareness of water quality - The Biocides Market is sparked by the growing concern over water quality, which emphasizes how urgent it is to address microbial contamination. Growing public consciousness over contaminants and diseases transmitted by water increases the need for biocidal treatments in the water treatment, distribution, and purification industries. Strong biocides are sought after by businesses and governments to guarantee clean drinking water and preserve the integrity of the water infrastructure. This knowledge encourages innovation in the field of biocide technology, leading to the creation of sophisticated formulations that effectively control microbes. The market for biocides is correlated with growing awareness of water quality, which highlights the critical role biocides play in ensuring access to safe and clean water in the face of growing water quality concerns worldwide.

Market Restrains

Substitution by Alternative Technologies - The market for biocides is severely constrained by substitution by alternative technologies since these technologies provide less harmful or chemical-intensive options for microbial control and disinfection. These safer and more environmentally friendly alternatives, like ozone, UV treatment, and bio-based antimicrobials, pose a threat to the market for conventional biocide. This change in customer tastes toward safer and more environmentally friendly products puts the established market to the test and lowers the need for traditional biocides. The biocides sector must change to stay competitive. Research into more environmentally friendly formulations must be funded, and efficacy and regulatory requirements must be addressed to fend off the advance of these alternative technologies.

Biocides Segmentation

Market- By Product Analysis

By Type, the Biocides Market is Categories into Halogen Compounds, QAC, Phenolic. The Halogen Compounds segment accounts for the largest share of around 40% in 2022.


In many industries, such as food processing, healthcare, and water treatment, where stringent disinfection is necessary, halogen compounds are essential due to their exceptional antimicrobial properties, under these replacement technologies’ invasions.

The following segments are part of an in-depth analysis of the global Biocides Market:

Market Segments

 

By End-use

·         HVAC

·         Paints & Coatings

·         Water Treatment

Biocides Industry: Regional Analysis

North America Market Forecast

North America dominate the Corneal Implants Market with the highest revenue generating market with share of more than 45%. The use of biocides is being driven by the strict regulatory environment, especially in the US and Canada, in a number of industries, including agriculture, water treatment, and healthcare. Also the market is growing because to ongoing research and technological developments in biocide formulations, particularly in the pharmaceutical and healthcare sectors.

Europe Market Statistics

Europe is the second-largest market for Biocides. Europe's strict environmental legislation and efforts to reduce the number of hazardous chemicals in the environment are driving the market for sustainable and eco-friendly biocides. Also, rising healthcare costs and the necessity for infection control measures also contribute to the need for biocides in medical environments.

Asia Pacific Market Forecasts

Asia Pacific is expected to be the fastest-growing market for Biocides during the forecast period. In the Asia-Pacific region, several drivers fuel the rapid growth of the Biocides market. Biocides are becoming an increasingly important solution for food preservation, medical treatment, and water purification as a result of the population growth of nations like China and India. The growing industrial and manufacturing sectors necessitate the use of biocides in a variety of applications, including paints and industrial water treatment.

Key Market Players

The Biocides Market is dominated by a few large companies, such as

·         Iro Group Inc.

·         Lubrizol

·         Hubei Jinghong Chemicals Co. Ltd.

·         Shanghai Zhongxin Yuxiang Chemicals Co. Ltd.

·         BASF SE

·         Lanxess AG

·         Wuxi Honor Shine Chemical Co. Ltd.

·         Finoric LLC

·         Albemarle Corporation

·         Chemtreat, Inc.

·         Others

Recent Developments:

·         January 2021, LANXESS has expanded its biocide business by acquiring INTACE, a biocide company situated in Paris that produces specialist fungicides for the packaging sector. Through the purchase of INTACE, LANXESS is enhancing its biocide technology platform for consumer goods packaging and labels.

·         July 2022, International Flavors & Fragrances Inc., a US-based company, has sold its microbial control business unit to LANXESS AG. (IFF Inc.). Through this acquisition, LANXESS AG's microbial control business and portfolio of biocidal active chemicals will be strengthened.

·         February 2020, IPEL, or Itibanyl Produtos Especiais Ltda, has been bought by LANXESS AG. LANXESS AG is solidifying its standing as a top producer of antimicrobial active ingredients and formulations with this purchase.

Quality Assurance Process

  1. We Market Research’s Quality Assurance program strives to deliver superior value to our clients.

We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.

To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

Frequently Asked Questions

What is the market size of Biocides Market in 2022?

Biocides Market was valued at USD 8.1 Billion in 2022.

What is the growth rate for the Biocides Market?

Biocides Market size will increase at approximate CAGR of 3.7% during the forecasted period.

Which are the top companies operating within the market?

Major companies operating within the Biocides Market are Lanxess AG, Iro Group Inc., Lubrizol, Hubei Jinghong Chemicals Co. Ltd., Shanghai Zhongxin Yuxiang Chemicals Co. Ltd., BASF SE, Wuxi Honor Shine Chemical Co. Ltd., Finoric LLC, Albemarle Corporation, Chemtreat, Inc. and Others.

Which region dominates the Biocides Market?

North America dominates the market with an active share of 45%.

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