Pune, India, Jan. 20, 2022 (GLOBE NEWSWIRE) -- The global biocides market size is expected to value at USD 10,889.6 Million in 2021 and is anticipated to grow at a CAGR of 5.2% during the forecast period, as per a detailed market study by Quince Market Insights.
Biocides are mainly used in the healthcare sectors for cleaning the areas near to patients, and in control of bacteria spreading and killing are the major factors that are driving the global biocides market.
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Biocides are generally having active chemical molecules to control bacteria build-up, which are in contact with humans or animals. The antibiotic properties are having an active substance of synthetic or natural origin which are used for eradication of infections caused by bacteria are controlled by biocides application.
Impact of COVID-19 Pandemic on Global Biocides Market
Coronavirus pandemic has affected most of the leading industries in its own way. All industries are fighting against this viral disease to retain in the competitive market. But for the biocides industry, the result was positive for its various good properties. As biocides are used for making hand rubs or sanitizers, which are gaining interest in this COVID situation for survival purposes. The world has no other options left only to use alcohol-based sanitizers which are made of biocides. The COVID-19 has opened the vast market in front of the biocides market globally and it is forecasted that the market will be going to increase at a higher rate during the forecast period.
Global Biocides Market, by Type
By type, the global biocides market is segmented into halogen compounds, metallic compounds, organosulfur compounds, organic acids, phenolic, and nitrogen (quaternary ammonium compounds). The halogen compounds cover the largest market share in 2021, and it is anticipated to capture the highest market during the forecast period. The factors attributed to the growth of the market include halogen mostly applied in antimicrobial components of hand rubs. Alcohol-based hand rubs which are made out of halogen compounds were considered the most effective agents for bacteria spreading and killing. All these properties are gaining the global market share of biocides.
Global Biocides Market, by Product
By product, the global biocides market is segmented into oxidizing biocides, non-oxidizing biocides, and others. Oxidizing biocides is the only segment that is dominating the biocides market in 2021 and is expected to remain dominant during the forecast period. The growth is attributed to its unique properties to kill bacteria. Oxidizing biocides have the ability to kill microorganisms by the process of electrochemical oxidation, which prevents bacteria to continue spreading and increase their cycle. This application is widening the biocides market globally and also it is going to increase at the largest rate during the forecast period.
Global Biocides Market, by Application
By application, the global biocides market is segmented into disinfectants and antiseptics, water treatment, preservative, antifouling, and household & personal care. The disinfectants and antiseptic application capture the largest market in 2021 and are expected to remain the largest during the forecast period. The growth is attributed to the segment growth include its uses in preventing and controlling the spread of infectious diseases in hospitals and other health facilities.
In addition, for its medical properties, the biocides market is growing and will be going to capture the largest market during the forecast period. As today’s people are more conscious about their health and hygiene.
Global Biocides Market, by End-Use Industry
By end-use industry, the global biocides market is segmented into food and beverage, forest, pesticides, medicine, paints and coatings, animal husbandry, and water management. The food and beverage industry is the largest market in 2021 and is expected to remain largest during the forecast period. The factors attributed to the growth of the market include its medical properties such as biocides are used as disinfectants and food preservatives, treatment of production plants, food containers, food processing areas to control microbial growth in food and drinks.
In addition, with the growing industrialization, the application of biocides is continuously growing and it is anticipated to grow higher during the forecast period.
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Global Biocides Market, by Region
By region, the global biocides market is segmented to North America, Europe, Asia Pacific, the Middle East and Africa, and South America.
Europe is the largest market among all the regions in 2021 and is expected to remain the largest during the forecast period. The factors attributed to the growth include biocides especially in healthcare and pharmaceutical industries, as they use biocides for several used for the treatment of viruses, malaria, and other diseases. Biocides play a role in disinfectant properties which are helping the patients for treatment and also used for surface cleaning like virus killing and inhibits the extension of their activities.
Biocides are used in laboratories as a biomaterial which a currently gaining importance among the researchers which is uplifting the demand for the global biocides market and it is anticipated to increase at a higher during the forecast period.
Recent Key Developments in the Global Biocides Market
- January 2021, Lanxess strengthens its biocides business with the acquisition of biocides specialist Intace SAS. The company is going to widen its biocide technology platform for packaging and labeling in the consumer goods industry.
- January 2020, Thor Specialties innovated dry film biocides chemistries, which permit the offering of competitive products more quickly to meet the demands of industries stringent. The increased demands of low or free Volatile Organic Compounds (VOC) industrial products require preservative efficacy which is tested against fungal and algal defacement in paints & coatings.
Some Key Findings of the Global Biocides Market Report Include:
- The analysis includes a global biocides market study, expansions, and forecasts, along with a country-specific analysis.
- An in-depth analysis of the global biocides market comprises segment by type, by product, by application, by end-use industry, and by regions with an analysis of trend-based insights and factors.
- Product offering details on competitive benchmarking and evolution approach adopted by the industry players, along with their investments in the last five years in the global market have been provided in the report.
- The market research includes a study of the provinces, boundaries, drivers, prospects, guidelines, challenges, and procedures that are propelling the global biocides market.
- The study also offers complex measures of potential market effect during the forecast period and an in-depth overview of the leading companies operating in the global market.
- External as well as internal variables that are expected to have a positive or negative effect on companies have been evaluated, which will offer the decision-makers a strong futuristic view of the industry.
- The research also helps understand the dynamics of the biocides market structure by analyzing market segments and by projecting the size of the market.
- The report helps to understand the effects of COVID-19 pandemic on biocides market.
- Some major industry players functional in the global biocides market are: Troy Corporation, Thor Specialities, Ashland Inc., Arch Chemicals, BASF SE, Akzo Novel N.V., Champion Technology Services, Inc., Lanxess, Albemarle Corporation, Clariant, Dow Microbial Control, and Lonza.
To Find more insights on this topic, visit Quince Market Insights report titled, “Biocides Market, by Type (Halogen Compounds, Metallic Compounds, Organosulfur Compounds, Organic Acids, Phenolic and Nitrogen {Quaternary Ammonium Compounds}), Product (Oxidizing Biocides, Non-Oxidizing Biocides, and Others), Application (Disinfectants and Antiseptics, Water Treatment, Preservative, Antifouling, and Household and Personal care), End-Use Industry (Food and Beverage, Forest, Pesticides, Health and Medicine, Paints and Coatings, Animal Husbandry, Oil and Gas, and Water Management) and Region (North America, Europe, Asia Pacific, Middle East and Africa, South America) — in-depth analysis along with the table of contents (ToC).
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