BIOCIDES MARKET FORCAST
The Biocides market size is estimated to be USD 11.3 billion in 2021 and is projected to reach USD 13.6 billion by 2026, at a CAGR of 3.7% between 2021 and 2026. Factor such as stringent regulatory environment will drive the biocides market. The major restraint for the market will be toxicity and environmental concern and costly process for registration. However, increasing demand for eco-friendly biocides will act as an opportunity for the market.
Non-Oxidizing biocides is estimated to be the largest type of biocides market in 2020
Non-oxidizing biocides are chemicals that function by mechanisms other than oxidation, which include interfering with reproduction and cell metabolism, lysis of cell wall, and stopping the respiration of microorganisms. They are generally fed into a system for hours or up to a day to kill algae, bacteria, and fungi. The different types of non-oxidizing biocides include Isothiozoline, 2,2 Dibromo-3-Nitrilopropionamide (DBNPA), Glutaraldehyde, Methylene Bisthiocyanate (MBT), Tetrakis(Hydroxymethyl)Phosphonium Sulfate (THPS), and Quaternary Ammonium Compounds (QAC), among others. Unlike oxidizing biocides, it does not pollute the aquatic environment.
Water treatment was the second largest application for the biocides market in 2020
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.
APAC is estimated to be the largest Biocides market during the forecast period, in terms of value and volume.
APAC is one of the most crucial markets of biocides. This is basically led by the demand of biocides from various end use industries in China, Japan, India, South Korea, Australia and New Zealand. These countries have major companies related to automotive, oil & gas, mining, construction, shipbuilding, and wood industries in this region. China dominates the Biocides market in APAC. The growing construction industry in the country as well as water treatment activities are the main drivers for the biocides market.
In the process of determining and verifying the market size for several segments and subsegments identified through secondary research, extensive primary interviews were conducted. A breakdown of the profiles of the primary interviewees are as follows:
- By Company Type: Tier 1 – 69%, Tier 2 – 23%, and Tier 3 – 8%
- By Designation: C-Level – 23%, Director Level – 37%, and Others – 40%
- By Region: North America – 32%, Europe – 21%, APAC – 28%, Middle East & Africa – 12%, and South America – 7%
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).
Source from: https://www.researchandmarkets.com/
Send your message to us:
Post time: Jun-23-2021