According to a report, “Biocides Market Size, Share & Trends Analysis Report By Product (Halogen Compounds, Quaternary Ammonium Compounds), By Application (Paints & Coatings, Water Treatment), By Region, And Segment Forecasts, 2020 – 2027”, published by Grand View Research, Inc.,The global biocides market size is expected to reach USD 10.5 billion by 2027, as per a new report by Grand View Research Inc., expanding at a CAGR of 3.9% 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 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.
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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.
Biocides Market Report 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 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 likely to witness significant growth in the forecast period because of the pandemic spread across the globe
- In 2019, Asia Pacific emerged as the largest regional market with a revenue share of 35.4%
- Business integration is likely to be a prominent growth strategy amongst the players.
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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. Paints and coatings are highly susceptible to waterborne and airborne microbial contaminants because of their exposure to bulk handling and storage systems. Usage of biocides in paints and coatings offers various benefits, including dry-film preservation, microbial growth prevention, and in-can preservation. It also helps prevent fungal development after the film is formed and the paint dries. Therefore, the product application in paints and coatings to avoid their deterioration has become a must for the manufacturers.
Water treatment is one of the most prominent applications, where biocides are used for preventing antifouling and bacterial or algal contamination in water systems, such as cooling water systems, pools and spas, pulp and paper mills, municipal drinking water systems, and industrial water treatment systems. The vulnerability of wastewater in bacterial growth and contamination is significantly high because of its high organic content that supports bacterial/algal buildup. Therefore, the application in these plants has become a key fundamental for obtaining clean and pure water.
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. For instance, Clorox, one of the leading U.S.-based disinfectant manufacturers, produced 40 million more items during the first quarter of 2020, when compared with its production in the first quarter of 2019. Moreover, Dow Inc. shifted production in five of its manufacturing plants to produce 200 tons of sanitizers weekly. This projects lucrative opportunities for the product in cleaning applications. Bio-based or natural biocides are likely to witness an increased demand in the coming years.
Biocides Market Segmentation
Grand View Research has segmented the global biocides market on the basis of product, application, and region:
Biocide Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
- Halogen Compounds
- Metallic Compounds
- Organic Acids
- Quaternary Ammonium Compounds
Biocide Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
- Water Treatment
- Food & Beverages
- Personal Care
- Wood Preservation
- Paints & Coatings
- Oil & Gas
- Pulp & Paper
- Cleaning Products
Biocide Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
- The U.S.
- The U.K.
- South Korea
Middle East & Africa
- South Africa
- Saudi Arabia
List of Key Players of Biocide Market
- Albemarle Corporation
- BASF SE
- Solvay SA
- Thor Group Limited
- Dow Inc.
- LANXESS AG
- Melzer Chemicals Pvt. Ltd.
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