Biocide Market Size Worth USD 14.31 Billion2027| CAGR of 4.5%
According to a recent report by Reports and Data, the Biocide market is projected to achieve a value of USD 14.31 Billion by 2027. Biocides, which are chemical products or microorganisms, are utilized to control harmful pathogens through chemical or biological means. These substances are non-toxic, possess strong cleansing properties, and are compatible with various industries due to their solubility in solvents.
Due to their versatile nature, biocides find extensive use in
the production of personal care products. They serve as antimicrobial agents
and preservatives in face washes, soaps, and cleansing conditioners. The
increasing consumer demand for high-quality products, driven by the need for
protection against skin infections, is expected to drive market growth.
In the healthcare sector, biocides are primarily used for
disinfection purposes, such as sanitizing equipment, water, surfaces, and
sterilizing medical products. They are also utilized for preserving medicinal
and pharmaceutical products. Low concentrations of biocides can be found in
various medical items like curtains, linens, mops, and mattresses to prevent
the spread of infections in hospitals.
North America is anticipated to be a major player in
industrial wastewater treatment due to its substantial infrastructure in the
oil and gas and mining sectors, as well as stringent wastewater treatment
regulations. In 2019, the region held 40.2% of the total market share for
biocides.
The Impact of COVID-19:
The ongoing COVID-19 pandemic has led to increased awareness
and concern regarding safety and public health, resulting in a surge in demand
for disinfectants. Products are being stockpiled, leading manufacturers to ramp
up production to meet consumer requirements. Even after the reduction in the
impact of COVID-19, the market is expected to maintain a steady demand.
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Additional key findings
from the report include:
- Halogen
compounds have a significant market share due to their effectiveness as
microbial growth control agents. They are cost-efficient, versatile, and
exhibit low resistance. Developing countries are witnessing an increasing
demand for biocides that comply with environmental norms.
- The
cosmetics industry places growing importance on preservatives to enhance
product shelf life, driven by increasing product quality and rising beauty
awareness among the population. This trend contributes to market growth.
- Developing
regions are experiencing an increasing awareness of the relationship
between personal hygiene, personal care, and health, which supports the
expansion of the biocide sector in emerging nations. Factors such as employment
opportunities and growing GDP also contribute to industry growth.
- The
Asia Pacific region is projected to exhibit a higher compound annual
growth rate (CAGR) of 5.0% during the forecast period. With its high
population density and prevalence of contagious diseases, maintaining
hygienic surroundings is crucial in the region, particularly in poorer and
developing nations.
Key participants in the industry include BASF SE, Akzonobel
N.V., The DOW Chemical Company, Troy Corporation, Kemira OYJ, Lanxess AG, Thor
Group Limited, Solvay SA, The Lubrizol Corporation, and Clariant AG, among
others.
The global Biocide market has been segmented by Reports and
Data based on type, product type, application, and region:
Type Outlook (Revenue, USD Billion; 2017-2027):
- Metallic
Compounds
- Organic
Acids
- Halogen
Compounds
- Phenolic
Biocides
- Organosulfur
Compounds
- Other
Biocides
Product Type Outlook (Revenue, USD Billion; 2017-2027):
- Pest
Control
- Preservatives
- Others
Application Outlook (Revenue, USD Billion; 2017-2027):
- Water
Treatment
- Personal
Care
- Wood
Preservation
Biocide Market:
Drive factors
Factors Driving the Biocide Market:
1. Increasing Demand for Disinfectants:
The global biocide market is being driven by the rising demand for
disinfectants, particularly due to the ongoing COVID-19 pandemic. The need for
effective control of harmful pathogens and the importance of maintaining hygiene
and sanitation have led to a surge in demand for biocides.
2. Growing Awareness of Health and
Hygiene: There is a growing awareness among consumers about the importance of
health and hygiene, which is driving the demand for biocides. Consumers are increasingly
seeking high-quality products that provide protection against infections and
microbial growth, particularly in personal care and healthcare sectors.
3. Stringent Regulations: Stringent
regulations and guidelines regarding hygiene and microbial control across
various industries, including healthcare, food and beverage, and water
treatment, are propelling the demand for biocides. Compliance with these
regulations requires the use of effective biocidal products.
4. Rising Industrial Activities:
Industrial activities, such as oil and gas, mining, and water treatment, create
the need for effective biocides for wastewater treatment and disinfection
purposes. The growth of these industries, especially in regions like North
America and Asia Pacific, is driving the demand for biocides.
5. Increasing Demand in Emerging
Economies: Emerging economies, particularly in Asia Pacific, are witnessing
rapid industrialization and urbanization, leading to increased demand for
biocides. The need for efficient microbial control in various sectors, such as
water treatment, personal care, and food and beverage, is driving the market in
these regions.
6. Technological Advancements:
Continuous advancements in biocide formulations and technologies are expanding
the application areas of biocides. Manufacturers are developing innovative and
environmentally friendly biocidal products, which are gaining traction in the
market.
Overall, the biocide market is being driven by factors like
the increased focus on health and hygiene, stringent regulations, technological
advancements, and the expanding application areas across various industries.
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