Increasing Water Treatment Activities Resulting in Growth of Biocides Market | Major Key Players are BASF SE, DowDuPont Inc., Lanxess AG, Clariant AG, AkzoNobel N.V., Solvay S.A., Kemira Oyj, Thor Group Limited

In 2018, the global biocides market attained 1,062.3 kilotons sales volume, and it is expected to reach 1,376.6 kilotons by 2024 with a CAGR of 4.4%, during the forecast period (2019–2024). The market is witnessing growth due to the increasing use of such products in consumer products and water treatment. Biocides are compositions or active substances that are intended to deter, render harmless, destroy, or exert a controlling effect on a harmful organism by biological or chemical means. They can act as preservatives, pesticides, or disinfectants in several applications.

On the basis of type, the biocides market is categorized into metallic, organosulfur, phenolic, nitrogenous, organic acid, halogenated, and others. The ‘others’ category includes inorganic acids, ozone, aldehydes, and alcohols. Among these, the category of halogenated biocides dominated the market during the historical period (2014–2018), holding a share of more than 35.0% in 2018. This is due to the high demand for halogenated biocides as disinfectants for water treatment. This category is also predicted to grow at the fastest pace during the forecast period.
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When application is taken into consideration, the biocides market is divided into preservation, water treatment, household, industrial, & institutional (HI &I) cleaning, human hygiene, and others. Out of these, the division of water treatment accounted for approximately 45.0% share in 2018 and led the market throughout the historical period. The primary reason for this is the rising demand for treated water and potable water for industrial and residential applications, respectively. During the forecast period, the water treatment division is also projected to register the highest CAGR.

The rising demand for such substances for water treatment is one of the key drivers of the biocides market. As biocides have the ability to act as disinfectants and anti-fouling agents to impair the growth of harmful organisms, including bacteria, viruses, and protozoans, they are deployed to disinfect not only water but the equipment used in its transportation, production, and storage. Furthermore, these products are also used for maintaining the microbiological quality of the water before and during its distribution. This process ensures an acceptable level of desirable microorganisms and eliminates pathogenic microorganisms.

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Another major factor leading to the growth of the biocides market is the increasing use of biocides in consumer products. Due to the ability of biocides to check the growth of pathogenic microorganisms, they are being adopted by various industries, including healthcare, food & beverages, and personal and homecare. As biocides act as sterilants, preservatives, and disinfectants, they are used in products such as detergents, soaps, building materials, textiles, plastics, paints, cosmetics, wipes, and furniture to improving their quality, performance, and shelf life.

A key trend that is being witnessed in the biocides market presently is the implementation of strict regulations governing the use of biocides across different countries. The European Union Biocidal Products Regulation and the United States Food and Drug Administration have issued numerous regulations and guidelines to oversee the use of biocides and their active agents in the past few years. Due to this, the supervision on their utilization has increased and certain products have also been banned because of their mutagenic or carcinogenic nature.

Thus, the surging demand for biocides for water treatment and consumer products is driving the growth of the market.

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This release was published on openPR.