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Biocides Market worth 10.6 Billion USD by 2020
The report “Biocides Market by Type (Halogen compounds, Metallic compounds, Organosulfurs, Organic acids, Phenolics, and Others) and by Application (Water treatment, Personal care, Wood preservation, Food & beverage, Paints & coatings, and Others) - Global Trends and Forecasts to 2020” defines and segments the biocides market with an analysis and forecast for types and applications by volume as well as value. The biocides market size by value is projected to reach USD 10.6 Billion by 2020, with a CAGR of 4.8% between 2015 and 2020.
Browse 88 tables and 59 figures spread through 149 Pages and in-depth TOC on "Biocides Market by Type (Halogen compounds, Metallic compounds, Organosulfurs, Organic acids, Phenolics, and Others) and by Application (Water treatment, Personal care, Wood preservation, Food & beverage, Paints & coatings, and Others) - Global Trends and Forecasts to 2020"
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“North America is the key market for biocides”
North America dominated the biocides market in 2014. The U.S. is the key market for biocides in the region. The growing demand for biocides in water treatment and food & beverage segments is driving the market for biocides in the region. Furthermore, the reviving construction industry in North America drives the market for biocides in paints & coatings and wood preservation segments. Paints & coatings segment is expected to witness growth during the projected period.
Asia-Pacific is the fastest-growing market for biocides during the projected period. The ensuing increase in investments and rise in the number of new manufacturing establishments is anticipated to witness Asia-Pacific emerge into a prime driver of growth for the biocides market. Furthermore, the food & beverage segment is expected to witness decent growth during the forecast period. This is due to the rising concern for safe packaged food in the region. Moreover, the rising construction activities drive the market for biocides in paints & coatings and wood preservation applications.
“Water treatment application to dominate the global biocides market”
Water treatment segment dominated the biocides market with ~25.6% the global market share in 2014, in terms of volume. The increasing demand for treated municipal and industrial water from the end-use industries is driving the market for biocides. The increased emphasis on clean water by the government of both the developed and developing nations paves a way for the growth of biocides. Biocides provide unparalled benefits in the water treatment and other segments.
Food & beverage is the other key application area of biocides. The stringent food safety norms in the developed nations of Europe and North America drive the market for biocides. Moreover, the growing food & beverage industry in the Asia-Pacific region drives the market for biocides, where they are used as preservatives.
“Halogen Compounds projected to have the highest growth”
Halogen compounds had the largest market share in 2014 and are projected to dominate the global market by 2020. They are very effective microbial growth control agents, less costly, efficient, have wide spectrum of applications, and relatively low occurrence of resistance. All these factors act as a driver for the halogen compounds.
Metallic compounds are used in wood preservation, food & beverage, and paint & coating applications as biocides. Silver-based biocides are widely used as an antibacterial agent in consumer products because of their properties such as high thermal stability and health and environmental safety. The organosulfur biocides are used to control microbial activity in the oil refineries industry. Organic acids such as formic or acetic acids are used as biocides on account of their less reactive nature as compared with strong mineral acids such as hydrochloric acid (HCl), mixtures of HCl and hydrofluoric acid (HF). Despite of these properties, these compounds do not hold larger market share than halogen compounds. Halogen compounds are more cost-efficient which is why they are used in a variety of applications.
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