Press release
Biocides market will hit US$13 billion by 2024 | Key Players are DuPont, Dow, Clariant, Solvay, BASF, Lonza, AkzoNobel
Biocide Market
As per the statistics released by the United Nations, the amount of wastewater produced yearly accounts to nearly 1500 cubic km which measure to approximately six times more than the amount of water present in rivers globally. Undeniably, these statistics have raised huge concerns pertaining to the treatment of wastewater.
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The surging demand for wastewater treatment systems across the industrial and residential sectors is anticipated to propel biocides market expansion over during 2018-2024. Speaking in the terms of water treatment, the predominance of the water treatment application sector is quite evident from the remarkable demand of biocides across the segment.
The U.S. nitrogen biocides market demand is driven by booming pharmaceutical, healthcare and food processing industries. As the product is highly effective against fungi and bacteria, it is used as a food additives for lowering the chances of m icrobial contamination. Changing consumer lifestyles and thereby the growing demand for fresh food products are anticipated to augment the regional growth. As per reliable estimates, U.S. nitrogen biocides market is projected to register over 5% gains by 2024.
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.
Major key players in the biocides market are DuPont, Kemira OYJ, Lanxess AG, Dow Chemical Company, Trop Corporation, Clariant AG, Cortec Corporation, Buckam Laboratories International, Thor Group Limited, Sigma – Aldrich Corporation, Solvay SA, GE Water and Process Technologies, BWA Water Additives, BASF SE, Baker Huges Incorporated, The Lubrizol Corporation, Nalco Champion, Lonza, Albemarle Corporation, Valtris Speciality Chemicals, AkzoNobel.
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