Biocides Market Analysis and Trends, 2024

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Biocides Market Share, Size, Analysis, Growth, Trends and
Forecasts to 2024 | Hexa Research
Growing at a CAGR over 5% during 2016 to 2024, the global biocides market is anticipated
to reach nearly USD 12980.8 million by 2024. Stringent environmental regulations and
growing awareness are likely to drive the market till 2024. Health awareness and the need
for clean water will boost industrial growth in the coming years. Moreover,
industrialization in emerging economies and demand for potab le water could augment the
segment of water treatment.
Biocides are compounds used as antimicrobial, antifouling & disinfecting agents, and as
pesticides. Halogens such as bromine & chlorine, organosulfur, copper salts, acrolein,
iodine, amines, metals, and quaternary ammonium salts are used to make biocides.
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Rigid regulations by regulatory bodies such as the Federal Insecticide, Fungicide, and
Rodenticide Act (FIFRA), the Environmental Protection Agency (EPA), and Registration,
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Evaluation, Authorization, and Restriction of Chemicals (REACH) may hinder market
progress.
The global biocides market is divided into applications, products, and geographies.
Applications include painting & coatings, water treatment, personal care, food &
beverages, and wood preservation, among others. Water treatment dominated the market
with over 23% shares in 2014. Regulatory policies that implement ‘water treatment’
standards can positively affect the market. Water treatment aims at offsetting the ill effects of microbial activity, corrosion, and disposal of waste water.
Food & beverages held a market share exceeding 16%, in 2014. The growing need to
control microbial activity in foods & drinks and the use of preservatives can stimulate the
market. Rapidly changing lifestyles and demand from emerging economies are the other
factors fueling this segment.
The personal care segment will expand significantly at nearly 5.5% CAGR till 2024. Biocides
are used in shampoos, shower gels, and moisturizing creams. They reduce bacterial and
fungal activities and increase the shelf-life of these products. This in turn propels the
demand for biocides.
Based on products, the global biocides market is divided into organic acids, phenolic,
nitrogen, halogen compound, metallic compound, organosulfurs, and others. Halogen
compound dominated the market with over 25% shares in 2014. Halogens are vastly used
to treat waste water in municipal & industrial projects.
Metallic compounds are used in paints & coatings, food & beverage, and wood
preservation. They are also used as substitutes for halogens in water treatment . This
segment held over 18% revenue shares in 2014. Organosulfurs are used to control
microbial activities in oil refinery industries as they contain antifungal and antibacterial
properties. In 2014, this product held a share over 11%.
Regions in the global biocides market are North America, Europe, Asia Pacific, Latin
America, and the Middle East & Africa (MEA). North America held over 40% of the global
revenue in 2014. The U.S. led the region in 2014 with 75% of the overall incomes. U.S.
funding for infrastructural development is projected to add to the demand for paints &
coatings. This will further support the global market till 2024.
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Asia Pacific may expand at a CAGR of more than 6% from 2016 to 2024. Rising healthcare
expenditures owing to technological advancements and cheaper medical facilities will
boost the phenolic biocides industry in the region. Ongoing industry trends suggest that
China will continue to dominate the region in the forthcoming years. It will grow at a
significant rate till 2024.
Dow Microbial Control, Troy Corporation, Arch Chemicals, and ISP are the prominent
companies in the global biocides market that account for nearly 56% of the total demand.
Arch Chemicals dominated the industry in 2014. It captured over 15% of the world wide
shares that year.
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Expanding at a CAGR over 5% during the forecast period (2016-2024), the global biocides market is projected to reach nearly USD 12980.8 million by 2024.

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