What will drive the U.S. nitrogen biocides market demand? | By top key players profiled: Troy Corporation, Dow Chemical Company, Lanxess AG, Kemira OYJ, DuPont
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Biocides market is driven by growing necessity for water treatment owing to the rising wastewater generation from the growing population. Given that biocides help eliminate microbial attacks in industrial water, the ever increasing water consumption from both domestic and industrial sectors will strongly support the market growth. The product offers cost effectiveness benefits over other methods of water purification such as bioreactors, vacuum evaporation, electrodialysis and UV disinfection.
Growing health concerns with regards to the waterborne pathogens and increasing awareness to recycle the wastewater pertaining to the emerging drought conditions across many regions of the world may drive the biocides market trends. According to a research report by Global Market Insights, Inc., biocides market size will exceed 13 billion by 2024.
Halogen compounds are highly used across the disinfection of drinking water treatment facilities. Along with this the product offers several benefits including low volatility and improved toxicity against a range of microbes. Implementation of halogen compounds biocides also arrests microbial fouling owing to which they are majorly used across swimming pools.
Increasing water usage for manufacturing paints and cosmetics along with processing food & beverages will boost the segmental growth during the forecast timeframe. In 2017, Halogen compound segment accounted for a substantial revenue share of USD 2.4 billion.
Biocidal wood preservation products protect timber from insect infestations in wood that multiply and further deteriorate the sheer strength as the years pass on. Growing demand for sustainable wood products to manufacture durable furniture products coupled with the indispensable wood usage across the construction industry will foster product penetration in the region. UK biocides market size with regards to wood preservation application segment exceeded USD 33.5 million in 2017.
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Growing adoption of natural gas to reduce the escalating carbon emissions will propel product consumption across the fuel applications. Implementation of biocides in hydrocarbon fuel products effectively eliminates the chances of microbial fouling which can lead to microbial corrosion hampering the equipment life. Therefore biocides treated fuels are extensively used to power on road or off road automobiles, locomotives, ships, aircrafts and power generation equipment.
Growing consumer inclinations toward natural gas complemented by robust development of natural gas distribution pipeline network across the globe should drive product demand over the forecast period. China biocides market size from fuels application segment is anticipated to exceed USD 80 million by 2024.
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