Press release
Biocides Market Future Prediction With Help of Top Industry Players Akzonobel N.V., BASF SE, Lubrizol Corporation, Clariant AG, DowDuPont Inc., Thor Group Limited, Kemira OYJ, Troy Corporation
Biocides are used in paint and coatings industry to reduce its microbial spoilage. Growing paint and coatings industries is driving growth of global biocides market. According to Coherent Market Insights, global paint and coatings market is estimated to reach US$ 235 billion by 2025.
Biocides protect wood from fungi, insects, termites, ants, and other microbes that damage wood. According to a study by Coherent Market Insights, global wood preservatives market is estimated to surpass US$ 2.07 billion by 2025. This growing demand for wood preservatives is fuelling growth of the global biocides market.
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Stringent regulations by regulatory authorities such as U.S. Environment Protection Agency (EPA) and European Union is hindering growth of the global biocides market. For instance, EU Biocides Regulation 528/2012 provides authorization based on toxicity to human health and environment for use of biocidal products in European Union. In March 2018, South Korea's Ministry of Environment (MoE) announced introduction of new biocides law – K-BPR – which will be enforced from January 2019.
Business Strategies and Key Players
Players operating in the global biocides market are adopting various strategies including mergers and acquisitions, partnerships, and new product development to increase geographic presence and product portfolio in the market. For instance, in July 2015, Troy Corporation acquired industrial biocides business from Ashland Inc. In July 2013, Akcros Chemicals and Dow Microbial Control announced its partnership in which, Akcros will be the channel partner for plastic biocides while Dow Microbial Control will provide expertise for production of plastic biocides. In June 2018, Gel-clear Ltd. launched Eco-clear, an eco-friendly biocide spray.
Key players operating in the global biocides market includes Akzonobel N.V., BASF SE, Lubrizol Corporation, Clariant AG, DowDuPont Inc., Thor Group Limited, Kemira OYJ, Troy Corporation, Lanxess AG, Solvay SA, Lonza Group Ltd., Albemarle Corporation, and Baker Hughes Incorporated.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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Coherent Market Insights
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