Pune, Aug. 22, 2024 (GLOBE NEWSWIRE) -- According to SNS Insider Research, The Biocides Market Share was valued at USD 8.9 billion in 2023, and is expected to reach USD 12.9 billion by 2032, and grow at a CAGR of 4.3% over the forecast period 2024-2032.
The global biocides market is growing fast, driven by strict regulations and increasing demand from different industries. Recent European Commission regulations, dating back to June 2024, have recast market operations through rigid compliance requirements, while on the other hand, the Global Product Compliance Group in May 2023 reiterated the importance of compliance in changing rules. In this kind of regulatory environment, companies are forced to fall in line so that they may come up to the high standard set.
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The exponential growth in the Asia-Pacific region for these industries food processing and agriculture is also being noticed in the market. As per information available from the HKTDC in July 2024, it is associated with high awareness about food safety and proper controlling of pests and pathogens. In addition, biocide technology developments are making companies invest in more efficient and environmentally friendly solutions, which further catalyzes the growing rate of the market.
Other industries where the dynamism of biocides market is witnessed include healthcare and construction, where antimicrobial coatings are high in demand. The COVID-19 pandemic increased the need for hygiene, hence increasing biocide consumption in disinfectants and sanitizers, notably in the healthcare sector. Meanwhile, the dominant share holder, water treatment, has a continuous growth, due to increasing needs of microbial contamination prevention in water systems as a result of urbanization and industrialization in developing economies. Leading companies like Ecolab and Solvay are at the forefront, introducing advanced biocide formulations tailored for these critical applications.
Biocides Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 8.9 Billion |
| Market Size by 2032 | US$ 12.9 Billion |
| CAGR | CAGR of 4.3% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | •By Grade (Food Grade, Pharmaceutical Grade, Industrial/ Technical Grade) •By Product Type (Halogen Compounds, Organo-sulfur, Metallic Compounds, Quaternary Ammonium Compounds, Nitrogen, Organic acids, Phenolic, Others) •By End-Use (Water Treatment, Personal care, Wood Preservation, Food & Beverage, Oil & Gas, Agrochemicals, Pulp and Paper, Boilers, Cleaning Products, Paints and coatings, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
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Segment Analysis
In 2023, the halogen compounds segment dominated the biocides market and accounted a market share of approximately 30%. This domination is particularly by virtue of the extensive application of halogen-based biocides, majorly chlorine and bromine compounds, in water treatment, agricultural, and industrial applications. For instance, chlorine is heavily used in municipal water treatment plants to disinfect drinking water in order to avoid microbial growth, and therefore it plays a key role in safeguarding the health of populations. Further, bromine-based biocides find broad applications in cooling towers and industrial water systems where they are very effective against biofilms and algae. These properties make halogen compounds versatile and efficient across the board, thus highly sought-after across sectors, to ultimately cement the leadership status of the market.
Laws and Regulations in the Biocides Market
The biocides market is strictly governed by laws and legislation on the safe use and efficacy of its products. The Biocidal Products Regulation 528/2012 gives a clear framework under which biocidal products are approved for use and marketed in Europe. Under this regulation, manufacturers shall be required to register their products and provide all the efficacy data while adhering to high safety standards. The European Chemicals Agency ensures that these regulations are well implemented and requires biocides to have an extremely high standard of safety to humans and the environment. On the other hand, in the United States, it is regulated by the Environmental Protection Agency through the Federal Insecticide, Fungicide, and Rodenticide Act, which requires that all biocidal products be registered and that they contain pertinent labeling requirements. If used according to the directions, biocides are considered safe by the regulations of the EPA and do not pose undue risks to public health or the environment.
Key Players
- BASF SE
- Solvay SA
- Chemtreat Inc.
- Veolia Group
- Lanxess AG
- Lubrizol
- Troy Corp.
- Shanghai Zhongxin Yuxiang Chemicals Co. Ltd.
- Hubei Jinghong Chemicals Co. Ltd.
- Wuxi Honor Shine Chemical Co. Ltd.
- Finoric LLC
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Recent Developments
March 2024: UNIVAR SOLUTIONS LLC signed a distribution agreement with Arxada related to biocides and preservatives, enhancing product offering to the Brazilian industrial markets.
March 2023: KRAHN Chemie extends cooperation with LANXESS after acquisition of a biocides business to broaden its product range and market presence in Germany, Austria, Belgium, and the Netherlands.
Regional Analysis
In 2023, the Asia-Pacific region dominated the biocides market and is estimated to hold a share of approximately 40%. This may be attributed to rapid industrialization and urbanization, coupled with an increasing population resulting in a rise in demand for biocides across different industries. Some of these countries like China, India, and Japan are major contributors, with large-scale investments made in water treatment infrastructure and strict regulations on hygiene and sanitation. For instance, the Chinese government has imposed strict regulations on the quality of water, which has consequently raised its demand for biocides within the municipal water treatment plants. In India, there is an emerging awareness about food safety, which raises the demand for biocides in industries for food and beverages. Again, Japan's health system is so advanced, and demands for biocides have increased in infection control and prevention.
Key Takeaways:
- The largest end-user of biocides is water treatment, anticipated to hold an estimated market share of about 35% by 2024 in view of the important requirements for efficient microbial control.
- Asia-Pacific dominates with a large share of the market, estimated at 40%, due to the growing industrialization and increasingly stringent hygiene norms.
- Companies are increasingly heading towards sustainable and green biocides, contributing to global progress in reducing environmental impact.
- Smart biocides and green chemistry will dominate the future development of the market.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Production Capacity and Utilization Analysis by Region
5.2 Feedstock Prices Analysis by Region
5.3 Regulatory Impact: Effects of regulations on production and usage.
5.4 Environmental Metrics Analysis by Region
5.5 Innovation and R&D
6. Competitive Landscape
7. Biocides Market Segmentation, by Grade
8. Biocides Market Segmentation, by Product Type
9. Biocides Market Segmentation, by End User
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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