Asia Pacific biocides market will underscore as burgeoning urbanization and industrialization. It is highly sought-after to counter, deter and decimate the growth of lethal micro-organisms, including fungi, bacteria and virus.
An exponential rise in population in India and China will bode well for leading companies vying to expand their market uptake. Expansion of industries has propelled the demand for fresh water for drinking and industrial purposes. In terms of revenue, biocides market in Asia Pacific size will surpass USD $4.5 billion by 2026.
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Demand for metallic compound-based biocides will shore up in paints & coatings industry to boost shelf life and negate the risk of microbial activities. With the rise in construction activities, demand for paints and coatings will continue to surge by leaps and bounds. In terms of revenue, the industry share from paints & coatings application segment was valued at more than USD 425 million and will expand notably in the next few years.
The market uptake of biocides in paints and coatings will be noticeable following the demand for improving the shelf life of paints and preventing micro-organisms. End-use industries such as electronics, automotive and construction will be the major markets.
Biocides will gain traction in the food and beverage industry to dent the growth of micro-organisms and to help in boosting the shelf-life. Biocides will continue to play an invaluable role in food and beverage industry amidst pervasive COVID-19 pandemic in the region. In terms of revenue, market share from the food & beverage application segment was valued at more than USD 531.7 million in 2019.
It is pertinent to mention that biocides have gained uptick in cosmetic products for skin cleaning. Considering the awareness pertaining to hygiene and cleanliness will further propel the product adoption.
The market presence of cosmetics industry will solidify the position of biocides for skin cleansing. Moreover, developing economies such as India and China have exhibited traction for biocides in personal care products. The market size from the personal care application segment was pegged at more than USD 475 million revenue in 2019.
Halogen-based biocides are likely to set the trend in APAC to offset micro-organisms through electrochemical process. Needless to say, halogens are profoundly used for water treatment applications. Burgeoning industrialization will continue to propel the need for safe drinking water. The APAC biocides market revenue from the halogen compound-based biocides segment was pegged at more than USD 990 million in 2019 and will expand at a robust rate by 2026.
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Leading companies are poised to infuse funds in China through product portfolio expansion. Thriving healthcare industry and bullish demand for paints & coatings will bolster the industry outlook. Based on revenue, India and China held over 50% of APAC biocides market share.
Industry participants are slated to emphasize strategic collaboration, product rollouts and mergers & acquisitions. Some of the leading companies in the landscape are AkzoNobel, Dow Chemical Company, Troy Corporation, DuPont, Lonza, Cortec Corporation and Clariant AG, among others.
Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Market definitions
1.2 Market assumptions & forecast parameters
1.4 Data Sources
Chapter 2 Executive Summary
2.1 Asia Pacific Biocides market summary, 2015 – 2026
2.1.1 Business trends
2.1.2 Product trends
2.1.3 Application trends
2.1 4 Country trends
Chapter 3 Asia Pacific Biocides Market Insights
3.1 Industry segmentation
3.2 Industry outlook, 2015 – 2026
3.3 Value Chain
3.4 Regulatory overview
3.5 Market factor analysis
3.5.1 Growth drivers
3.5.2 Growth restraints
3.6 Competition review
3.7 Porter’s analysis
3.8 PESTEL analysis
3.8 Impact of COVID-19 on biocides application
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