The biocides market is expected to grow at a compound annual growth rate of 4.2% during the forecast period from the year 2022 to the year 2030. The market was valued at USD 7419 million in the year 2021 and it is expected to grow to USD 9914 million by the year 2030. Biocides are used in combination with different types of products which are used in water treatment, the manufacturing of consumer goods, and the manufacturing of coatings as well as paints.
The use of these substances has increased in recent years due to their properties of disinfection, prevention, and destruction of the microorganisms like viruses, fungi, and bacteria. Biocides are available in synthetic format or in their natural form. They can be called natural or synthetic on the basis of the raw material which is used in their manufacturing. Increasing awareness about cleanliness and increased awareness of self-hygiene will lead the market growth in the coming years. These are the factors that shall be helpful in the growth of the market during the forecast period. Increasing cases of allergies associated with dust accumulation on various substances have increased the demand for the biocides market and it shall provide better opportunities for growth in the coming years.
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The Biocides Market: Overview
Disrupted supply chains had affected the market to a great extent. Many manufacturing units for patients, as well as the coatings, were shut down during the pandemic. The demand for these products had also dropped to a great extent. The exports of coatings and paints were also affected during the lockdown. The biocides market is expected to grow well in the coming years as it happens to be a raw material used in the manufacturing of various cleaners and disinfectants. During the pandemic, awareness about cleanliness and self-hygiene had increased.
The demand for disinfectants and cleaners had grown during the pandemic as it was effective in protecting consumers from the spread of the virus. The use of biocides in the form of preservatives is extremely beneficial for the food and beverages industry. The products which make use of biocides are extremely important for the medical industry. These products act as disinfectants in the healthcare sector. As strict norms are adopted by various developed nations across the globe in terms of environmental standards, especially in the regions of Europe and the United States the market is expected to see huge profits during the forecast period.
The Biocides Market: Growth Factors
Increased awareness about health, as well as hygiene, is expected to drive market growth in the coming years. Increased demand for disinfectants in the healthcare industry will provide better opportunities for the growth of the market in the coming years. The constant development of various economies across the globe has supported manufacturers in the research and development activities to provide advanced technologies in the manufacturing of these chemicals.
In order to sterilize the health care facilities and to maintain proper hygiene in these facilities the demand for biocides will continue to grow in the coming year. The outbreak of the COVID-19 pandemic has amplified the importance of sterilization and hygiene. These products are used in sterilizing various surgical instruments surfaces, fixtures as well as tools used for various purposes. As the use of these products restrains the growth of the microorganisms the demand for them is expected to grow. It is used in the form of reservations in the wood as well as the leather industry.
Biocides are used in the manufacturing of coatings and paints. And they shall drive the market growth in the coming years. These products are used on a large scale in the manufacturing of paints as they act as a shield and prevent the growth of microorganisms on various surfaces. They prevent the growth of bacteria and fungi. The use of paints on the walls of buildings or on the exterior of vehicles will play an extremely important role in preventing the growth of microorganisms.
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The Biocides Market: Regional Insights
The Asia Pacific region has dominated the market in the past with a share of about 36% in terms of revenue and it is expected to grow well during the forecast period. Asia Pacific region has many end-user industries due to which the demand for biocides will grow in the coming years.
Maximum consumption of biocides will be in the water treatment industry. Most of these products shall be used in water treatment and for the manufacturing of various cleaning products. Growing demand for disinfectant products shall increase the use of biocides in the industry. The demand for cleaning products will continue to grow in China as a large number of freshwater fishes are produced in China. This business is expected to provide major opportunities for the growth of the market in this region. Apart from the growth of the biocides market in the Asia Pacific region, this market is also expected to grow in the North American region.
Supportive regulations from the government and increased investments in the research and development facility will have a positive impact on the growth of the market. The demand for biocides will be maximum for the parents and the coatings industry. It shall also be used in the preservation of wood.
The demand for biocides will continue to grow in the construction industry. After the outbreak of the COVID-19 pandemic, the demand for disinfectant products and cleaning products has grown to a great extent and the manufacturing of these products with the help of biocides will lead to the growth of the market during the forecast period. The key market players across the globe are focusing on providing better products and they’re also focusing on increasing their productivity due to an increased demand for these products, especially after the pandemic.
The Biocides Market: Key Market Developments
- LANXESS acquired INTACE in the year 2021 in order to strengthen its business. This acquisition aims at providing a better platform for biocide technology for its use in the labeling and packaging of various consumer goods.
- Chemstar Corporation was acquired by Ecolab in the year 2019 with a view to improving the market presence by providing sanitizing and cleaning solutions in the food industry.
The Biocides Market: Prominent Players
Lonza AG(Bain Capital and Cinven)
DuPont (IFF) (US)
LANXESS (Germany)
Ecolab Inc.(US)
BASF SE (Germany)
Veolia (France)
Kemira OJY (Finland)
Solvay(Belgium)
Nouryon(Netherlands)
Solenis (US)
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The Biocides Market: Segments
By Product
Halogen Compounds
Metallic Compounds
Phenolic
Nitrogen
Organosulfur
Organic acids
Quaternary Ammonium Compounds
Glutaraldehyde
By Application
Water Treatment
Food and Beverage
Personal care
Wood Preservation
Paints and coatings
Plastics
Pulp and Paper
HVAC
Boilers
Oil and Gas
Fuels
Cleaning Products
The Biocides Market: Geography
North America
The U.S.
Canada
Mexico
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
The Middle East & Africa
Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
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