Biocides Market worth $13.6 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, June 16, 2021 /PRNewswire/ -- According to the new market research report "Biocides Market by Type (Oxidizing Biocides, Non-Oxidizing Biocides), Application (Water treatment, Personal care, Wood preservation, Paints & coating), and Region(APAC, North America, Europe, MEA, and South America) - Global Trends and Forecasts to 2026", published by MarketsandMarkets™, the Biocides Market is projected to reach USD 13.6 billion by 2026, at a CAGR of 3.7% from USD 11.3 billion in 2021.
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Biocides are substances used to kill or inhibit all harmful life forms when introduced in sufficient concentration and duration. They are primarily used to kill harmful organisms and control bacterial or fungal growth. These can be categorized into three types- Oxidizing, Non-Oxidizing, and Others. Non- Oxidizing had a larger share in terms of value in 2020 as compared to Oxidizing Biocides and Others.
Household & personal care is the largest application segment of the biocides market. APAC was the largest market for biocides in 2020, in terms of value. Factors such as stringent regulatory environment, need for clean drinking water and need for preservatives will drive the biocides market.
Oxidizing biocides is estimated to be the fastest-growing type in the Biocides market for the forecast period
These are chemicals that have the ability to kill microorganisms through the electrochemical process of oxidation. In the oxidation process, the biocide gains an electron from bacteria, and this electron loss destroys the bacteria. Oxidizing biocides are most effective in a system that uses a high volume of water. The major types of oxidizing biocides used for water treatment are chlorine, bromine, iodine, chlorine dioxide, ozone, hydrogen peroxide, sodium chlorite, calcium hypochlorite, sodium hypochlorite, peracetic acids, hypobromous acid, and sodium bromide, among other biocides.
According to industry experts, oxidizing biocides are heavily used in water treatment because of their lower cost than non-oxidizing biocides.
Water treatment was the second major application for the biocides market in 2020 in the world
The biocides market size for water treatment applications accounted for the second-largest share of global biocides, in terms of value, in 2020 this was led by the demand from the water treatment for oil & gas industry followed by municipal water treatment application.
Municipal water treatment is the second-largest end-user of biocides within the water treatment application. The growing global population has increased the demand for treated water. In addition, water treatment is necessary in order to overcome water scarcity challenges. Thus, the growing need for treating and reusing water has increased the use of biocides. Municipalities treat water to meet the growing demand for potable water and comply with regulatory requirements for water. In addition, the sources of water for municipalities are lakes, rivers, and underground wells, among others, and these untreated waters contain various microorganisms such as giardia, cryptosporidium, and legionella, which can lead to infection and illness. The growing demand for water supply has encouraged the reuse of wastewater and its conversion into potable water. In addition, limited freshwater resources are increasing the reuse of wastewater, which requires biocides.
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North America is estimated to be the third-largest region in Biocides market in 2020.
The North American biocides market is the third-largest biocides market in the world. Recently, the market in this region witnessed a change in the product mix on account of the industry shifting to environmentally friendly and non-toxic formulations. The gains are expected to be driven by increasing demand from the pulp & paper industry, coupled with the rising awareness for protection against the growth of bacteria and pathogens in food. Mexico is the third-largest biocides market in North America, driven by the construction industry, which, in turn, drives the market for biocides.
The key market players profiled in the report include Lonza AG(Bain Capital and Cinven) (Switzerland), DuPont (IFF) (US), LANXESS (Germany), Ecolab Inc.(US), BASF SE (Germany), Kemira OJY (Finland), Solvay(Belgium), Nouryon(Netherlands), Solenis (US), Veolia (France), Thor Industries (US), Sigura Water(US), Italmatch chemicals (Italy), Albemarle Corporation(US), ICL Group (Israel), Accepta Water Treatment(UK), Buckman Laboratories Interanational Inc.(US), B&V Chemicals (UK), Kimberlite Chemicals (Singapore), Kurita Water Industries(Japan), Melzer Chemicals Pvt. Ltd.(India), Momar Inc.(US), Ozone Tech Systems (Sweden), and Chemicrea Inc (China).
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Browse Adjacent Markets: Chemical Market Research Reports &Consulting
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