Global Biocides market report 2024, Forecast To 2033
29 Feb, 2024
The biocides market has demonstrated robust expansion in recent years, with its size increasing from$12.31 billion in 2023 to$13.08 billion in 2024, marking a CAGR of 6.2%. The growth in the historic period can be attributed to several factors, including the growing population and urbanization, expansion of the healthcare sector, increasing awareness of hygiene, rising concerns about water quality, stringent regulations on preservatives, and preventive measures in agriculture. Looking ahead, the market is poised for strong growth, projected to reach$17.23 billion in 2028, with a CAGR of 7.1%. This growth is driven by the development of bio-based biocides, expansion of oil and gas exploration, demand in wood preservation, increasing consumer awareness, focus on antimicrobial textiles, and growth in personal care products. Major trends in the forecast period include increased use in water treatment, innovations in microbial control, biosecurity measures in agriculture, rise in antifouling solutions, and emerging technologies in biocide delivery.
Global Biocides Market Key Driver
An increase in the use of antimicrobial protection in end-use industries propels the growth of the biocide market. Antimicrobial protection refers to a substance that exhibits the capacity to lower or inhibit the levels of microorganisms, including bacteria and mold. The biocides have widespread applications as an antimicrobial, disinfectant, and preservative in the various end-use industries such as agrochemicals, food & beverages, water treatment, paints & coatings, cosmetics & personal care, oil & gas, and pulp & paper. In hospitals and other health institutions, the use of biocides is essential to avoid and control the spread of infectious diseases. For instance, according to the American Chemistry Council, a US-based industry trade association for American chemical companies, in September 2020, during the COVID-19 pandemic, more than 1,000 disinfectants were registered and deemed by the US EPA (Environmental Protection Agency) to be effective against COVID-19 virus. Therefore, an increase in the use of antimicrobial protection in end-use industries is driving the growth of the biocides market. In 2023, the biocide market was valued at $7.8 billion, and it is expected to grow to $11.4 billion by 2028.
Get A Free Sample Of The Global Biocides Market ReportGlobal Biocides Market Segments
The global biocides market covered in this report is segmented –
1) By Type: Oxidizing Biocides, Non-Oxidizing Biocides
2) By Grade: Food Grade, Pharmaceutical Grade, Industrial or Technical Grade
3) By End User: Agrochemicals, Food and Beverages, Water Treatment, Paints and Coatings, Wood Preservatives, Cleaning Agents, Other End Users
By Geography: The regions covered in the biocides market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Asia-Pacific was the largest region in the biocides market in 2023. The regions covered in the biocides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Biocides Industry Players
Chem Treat Inc., The Dow Chemical Company, LANXESS AG, Thor Group Limited, BASF SE, Kemira Oyj, Solvay SA, Nouryon Holding B.V., Solenis LLC, Veolia Environnement S.A., Troy Corporation, Sigma-Aldrich Corporation, BWA Water Additives, General Electric Company, Italmatch Chemicals S.p.A., Ecolab Inc., Evonik Industries AG, Clariant AG, Corbion NV, Kemin Industries Inc., Albemarle Corporation, Berkshire Hathaway Inc., Reckitt Benckiser Group PLC, GOJO Industries Inc., Henkel AG & Co. KGaA, Unilever N.V., Akzo Nobel NV, Buckman Laboratories International Inc., Hexion Inc., Lonza Group Ltd.
Get The Full Global Biocides Market Report
Biocides Market Overview
Biocides refer to a chemical compound or a microorganism that is used to biologically or chemically eliminate, turn harmless, discourage, or control a dangerous organism. The biocides are used for a wide range of applications, such as adding them to cosmetics and personal care products, treating drinking water, treating skin infections, and protecting animal food from microorganisms. To keep systems secure, well-maintained, and operating at their best, chemical biocides are essential for ensuring water quality at all times.
Biocides Global Market Report 2023 provides data on the global biocides market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The biocides market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.