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:
- 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.
- 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.
- 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.
- 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.
- 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.
- 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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