Biocides Market Size, Share, Growth, Trends, Company Analysis, Regional Insights and Forecast 2020 - 2027

Published Date : Nov 2020 | No. of Pages : 200 Pages | Category : Chemical and Material

The global biocides market size is projected to reach USD 10.2 billion by 2027, as per a new report by Vision Research Reports.

The global biocides market size was valued at USD 7.5 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 3.6% from 2020 to 2027.

The market is expected to be majorly driven by the growing demand from the water treatment, wood preservation, and paints and coating applications across the globe. The growth can be attributed to continuous investments in R&D, development of synergic chemistries for product diversification, innovation, enhanced performance, and application expansion.

A significant rise in the adoption of high-performance chemicals to enhance the durability and shelf life and prevent deterioration caused by microorganisms, such as bacteria, viruses, and fungi, has driven the consumption of biocides across the end-use industries. Biocides are classified as oxidizing or non-oxidizing, depending on their mechanism of action against microbial growth. Acids, bases, quaternary ammonium compounds, chlorine, aldehydes, and peroxygen compounds among others are the key feedstock chemicals used in their formulations.

The market is expected to witness an increase in demand from North America and Europe, prominently driven by the water treatment and wood preservation industries. However, a temporary decline in sales from wood preservation application is observed due to the construction activities at halt amidst the pandemic. Regulatory bodies such as the Environmental Protection Agency (EPA) and the European Chemicals Agency (ECHA) Biocidal Product Regulation (BPR) regulate the marketing, selling, and application of biocides in these regions.

In the Asia Pacific, countries such as China and India, which are the prominent drivers of the market, witness strong demand for the product from cleaning products. This demand has risen steeply in 2020 after the unprecedented outbreak of COVID-19, not only in the Asia Pacific but also across all the regions. However, the ongoing transition in China with stricter environmental regulations and higher labor wages has created uncertainties in the small to medium-sized local market players and international players dependent on imports from China. In addition, as a consequence of strict regulations, the cost of registration of a biocidal product in the European Union is relatively high, which has restricted the expansion of the market regionally.

Constant R&D amongst the key global players has driven the introduction of innovative and novel formulations. Regulatory compliance at the national and international levels for sustainable production and distribution has increased the acquisition of certifications, such as the EPA, among the manufacturers involved in domestic as well as offshore businesses. Integration in terms of raw material manufacturing, formulating, and distribution is highly observed in the market. Key global players such as BASF SE, Solvay SA, and Lonza have integrated operations in terms of biocide manufacturing and formulating.

Amid the COVID-19 pandemic, demand for the product declined from the pulp and paper, oil & gas, HVAC, boilers, plastics, paints and coatings, and personal care industries. On the contrary, its demand spiked from the cleaning products, such as disinfectants and sanitizers, in an attempt to curb the virus spread.

Highlights

  • The halogen compounds product segment held the largest revenue share of 25.5% in 2019 owing to its cost-effectiveness and versatility of applications.
  • The paints and coatings application segment accounted for the largest revenue share of 27.2% in 2019 and is anticipated to maintain its lead over the forecast period.
  • The water treatment application segment is expected to expand at the fastest CAGR of 5.5% in terms of revenue from 2020 to 2027 owing to the mounting demand for biocides from the industrial and drinking water treatment plants
  • The cleaning products application segment is expected to witness significant growth in the years to come owing to the mass production of products, like sanitizers, surface disinfectants, and sterilants, to combat the coronavirus and cover their exponentially hiked demand.
  • The Asia Pacific accounted for the largest revenue share of 35.4% in 2019 and is anticipated to maintain its lead over the forecast period. Water treatment is expected to be a prominent consumer of the product, followed by cleaning products. Consumption in cleaning products is highly benefitted from the heightened disinfectant production, especially during the COVID-19 pandemic.

Key Players:

  • Troy Corporation

  • Chemtreat, Inc.

  • Neogen Corporation

  • Finoric LLC

  • Shanghai Zhongxin Yuxiang Chemicals Co. Ltd.

  • Iro Group Inc.

  • Hubei Jinghong Chemicals Co. Ltd.

  • Wuxi Honor Shine Chemical Co. Ltd.

  • Albemarle Corporation

  • Lubrizol

  • BASF SE

  • Solvay SA

  • Lanxess AG

  • Lonza

Market Segmentation

Product Outlook

    • Halogen Compounds

    • Metallic Compounds

    • Organosulfur

    • Organic acids

    • Quaternary Ammonium Compounds

    • Phenolic

    • Nitrogen

    • Glutaraldehyde

Application Outlook

    • Water Treatment

    • Food and Beverage

    • Personal care

    • Wood Preservation

    • Paints and coatings

    • Plastics

    • HVAC

    • Boilers

    • Oil and Gas

    • Fuels

    • Pulp and Paper

    • Cleaning Products

Regional Outlook

    • North America

      • The U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • The U.K.

      • France

      • Spain

      • Italy

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

    • South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • Saudi Arabia

      • South Africa


Featured Research Reports

  • Featured Research Reports

    Precision Gearbox Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2028

    Read more...
  • Featured Research Reports

    Reclaimed Lumber Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2028

    Read more...
  • Featured Research Reports

    Nonwoven Industrial Membrane Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2028

    Read more...
  • Featured Research Reports

    Tooling Board Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2028

    Read more...
  • Featured Research Reports

    Metal Casing Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2028

    Read more...