New York, Sept. 15, 2020 (GLOBE NEWSWIRE) -- The Global Biocide Market is forecast to reach USD 14.31 Billion by 2027, according to a new report by Reports and Data. Biocides are chemical products or microorganisms that are used to control the harmful pathogens by chemical or biological synthesis. It is non-toxic in nature, has high cleansing action, and has high resonance with solvents, which makes it compatible with different end-use industries.
It is widely used in the manufacture of personal products, due to its dual nature. It can be added in antimicrobial agents as well as preservatives in face wash, manufacturing soaps, and cleansing conditioners. Consumers are switching to high-quality products to protect themselves from skin infections, which will foster market demand.
Biocides are applied in the healthcare sector, primarily for disinfection purposes of equipment, water, surfaces, and antisepsis. It is also utilized for the preservation of medicinal and pharmaceutical and sterilization of medical products. Several medical products contain low concentrations of biocides, such as curtains, linens, mops, and mattresses, to control the spread of infection in the hospitals.
North America is anticipated to be the largest player for industrial wastewater treatment owing to the presence of huge infrastructure for oil and gas, mining, and strict regulations against wastewater treatment. It held 40.2% of the total market share for biocide in 2019.
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Covid-19 Impact Analysis
The current scenario of the COVID-19 pandemic has led people to address safety and public health conditions. This has caused an increase in demand for disinfectants. The products are flying off the racks as they are being stockpiled, and manufacturers have started production in large quantities to meet consumer requirements. The demand for biocides has surged exponentially, and the market will witness a steady demand in the following years.
Further key findings from the report suggest
- Halogen compounds held a significant share and are quite effective in microbial growth control agents. They are efficient, less costly, and have several applications, and low resistance. The increase in demand for biocides that are in accordance with environmental norms is growing for developing countries.
- The growing importance of preservatives in cosmetics to increase shelf life, coupled with the upgrading product quality and rising beauty awareness among the population, has resulted in an increase in product sales, thus fostering the demand for market growth.
- There has also been an elevating awareness and understanding of the association between personal hygiene, personal care, and health in developing regions, which is also supporting the expansion of the sector in emerging nations. The expansion of the industry is also supported by healthy employment and growing GDP.
- Asia Pacific is projected to grow with a higher CAGR of 5.0% during the forecast period. The region is heavily populated and home to some contagious diseases. The high poverty level and the existence of slums in poor and developing nations increases the chance of infection, and the need to have a hygienic surrounding is crucial in the region.
- Key participants include BASF SE, Akzonobel N.V., The DOW Chemical Company, Troy Corporation, Kemira OYJ, Lanxess AG, Thor Group Limited, Solvay SA, The Lubrizol Corporation, and Clariant AG, among others.
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For the purpose of this report, Reports and Data has segmented the Global Biocide Market on the basis of the type, product type, application, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Metallic Compounds
- Organic Acids
- Halogen Compounds
- Phenolic Biocides
- Organosulfur Compounds
- Other Biocides
Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Pest Control
- Preservatives
- Others
Application Outlook (Revenue, USD Billion; 2017-2027)
- Water Treatment
- Personal Care
- Wood Preservation
- Paints and Coatings
- Food and Beverage
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/biocide-market
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Benelux
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
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