Biocide Market Analysis By Statistics, Growth Rate, Trends Forecast to 2023-2032
Biocide Market
Biocide Market: Size & Share by (By Type, By Application and By Region) and Forecast Year 2023-2032.
Biocide Market + Report Scope (by Share & Size)
The global biocide market is expected to grow significantly in the forecast period of 2023 to 2032. The KD Market Research analyses that the market is likely to grow with a CAGR of 4.3% during the forecast period of 2023 to 2032 and is expected to reach USD 16.8 Billion by 2032. The increase in antimicrobial protection is a major factor driving the market growth for the biocide market. Global Biocide Market is segmented by Type into Oxidizing Biocide, Non-Oxidizing Biocide, and others; by Application into Water Treatment, Household, Industrial & Institutional Cleaning and Home Care, Paints & Coatings, Wood Preservatives, and Others; and by Region into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
Biocide Market Definition & Overview
Biocides are the chemicals that help in protection from pests and micro-organisms. It helps to kill harmful micro-organisms such as mold, algae, bacteria, insects, and others. These are present in various products such as rodenticides, disinfectants, wood preservatives, and others. These preservation applications are leading the market for biocides which accounts for the largest share.
The KD Market Research team has developed a comprehensive market research report on a global basis on the Biocide Market, with a focus on identifying the market trends and drivers, Key companies, constraints and challenges, competitive landscape, customer insights, future outlook, and regulatory environment business owners face. The research report includes market segmentation types and future outlook, a regional perspective, and an analysis of recent Biocide Market developments.
Moreover, it provides detailed information on the base year and forecast year market size, global and regional market share, industry developments, and customer insights, as well as SWOT analysis, Porter's five forces analysis, PESTEL analysis, heat map analysis, market forecast, and major key players operating in the Biocide Market.
Biocide Market Insights
|
Report Metric |
Report Details |
|
Forecast Year |
2023-2032 |
|
Base Year |
2022 |
|
CAGR |
4.3 % |
|
Base Year Market Size |
11.0 Bn |
|
Forecast Year Market Size |
16.8 Bn |
|
Segmentation |
By Type, By Application and Region |
|
Growth Drivers |
|
|
Regions Covered |
North America Europe Asia-Pacific Latin America Middle East and Africa |
Biocide Market Dynamics Growth Drivers and Challenges
- Biocide Market Opportunities that Trigger Market Growth
- Increase in Antimicrobial protection: The market demand for biocides has increased significantly due to their extensive use in various industries. One major application of biocides is in cooling towers, which find widespread usage in mining, power plants, and chemical plants. The cooling water system environment provides a favorable condition for the growth of microorganisms, which further necessitates the use of biocides to prevent their growth.
- Emerging applications of biocidal products: The demand for Biocides is increasing with the increase in water treatment demand. There is an increase in water consumption due to various factors. This has further boosted the demand for biocides as they are used in the water treatment process which makes it useful for drinking and other purposes.
- Biocide Market Hurdles and Challenges
- Regulations Regarding Usage of Biocides: Stringent regulations govern the utilization of Biocides, ensuring the utmost protection for humans, animals, and the environment. The use of Biocides is subject to rigorous guidelines and measures. Prior to their introduction into the market, all Biocides products must undergo thorough approval processes.
Biocide Market Regional Synopsis:
In 2022, North America accounted for the largest share of the Biocides market. The market is driven by various factors such as an increase in demand for water treatment, environment-safe products, skin care products that are safe, and homecare hygiene products. The United States is a significant market for biocides in the North American region. Asia-Pacific also has a significant share in the market for biocides. There is a presence of a large customer base and key players in the region increasing the market growth for biocides. India and China are the major markets for biocides in this region. The South American region is also expected to grow significantly due to the water treatment and wood preservation applications driving the market. The adoption of eco-friendly products like paints and coatings is likely to drive market growth in the region. In the Middle East and Africa region, Brazil is expected to have the strongest market due to the high demand for drinking water in the region.
Biocide Market Segmentation, Division, and Categorization
- Type: Oxidizing Biocide, Non-Oxidizing Biocide, others.
- Application: Water Treatment, Household, Industrial & Institutional Cleaning and Home Care, Paints & Coatings, Wood Preservatives, and Others.
- Region: North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
Biocide Market Industry Developments
The industry for the Biocide market is developing significantly. LANXESS AG acquired Internal Flavors & Fragrances Inc. in July 2022. The biocidal active substance portfolio and microbial control business has strengthened due to the acquisition. LANXESS AG also acquired a French company name Intace SAS in January 2021. This expansion has helped the company to hold its leading position in the biocide market. Besides this, LANXESS AG has one more acquisition named Itibanyl Produtos Especiais Ltda. The acquisition has benefitted the company in strengthening its manufacturing of antimicrobial active ingredients and formulas.
The Veolia group has also acquired Suez which has increased its growth in terms of the biocides market and company growth in January 2022.
Biocide Market Key Featured Companies
- LANXESS AG
- Veolia Group
- Arxada AG
- Ecolab Inc.
- Nouryon
- General Electric Company
- Evonik Industries AG
- Solvay SA
- Clariant AG
- DuPont
- Others
These companies are actively involved in continuous development and technological advancements in the manufacturing of Biocides. The companies are opening several subsidiaries which is assumed as their long-term strategy for the biocides market. The forward and backward strategies are also adopted by the companies in order to focus on end-to-end integration and to increase their control over the supply chain.
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- Publication date: 19th September 2023
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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