Biocides Market Recent Trends and Growth Forecast Analysis (2022-2028)

According to Precision Business Insights (PBI), the latest report, the biocides market is expected to be worth USD 12.6 billion in 2022, growing at a 6.3% CAGR from 2022 to 2028. The global biocides market is segmented into the following types: By Type (Oxidizing Biocides, Non-Oxidizing Biocides, Others), By Application (Water Treatment (Municipal Water Treatment, Oil & Gas, Power Plants, Pulp & Paper, Swimming Pools, Mining, Others), Household & Personal Care, Paints & Coatings (Marine Coatings and Other Paints & Coatings), Wood Preservatives, Others), and Geography (North America, Europe, Asia Pacific, Latin America, and MEA) Forecast to 2028. Key players' profiles in the biocides market report are Lonza AG, DuPont, LANXESS, Ecolab, BASF, Kemira OJY, Solvay, Nouryon Solenis, and Veolia. The worldwide biocides market is currently seeing significant opportunities due to the increasing importance that governments of various economies are placing on the consumption of clean water. Biocides are also widely used in antimicrobial coatings, the food and pulp industries, and other products. Additionally, they control the bacteria in gas storage, oil field processing, and drilling equipment that reduce sulfate and produce slime. Therefore, another important factor anticipated to fuel the growth of the global biocides market during the forecast period. Another important factor driving the expansion of the worldwide market is the rise in demand for agrochemicals due to the increased demand for high-quality pest-free crops.

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Oxidizing Biocides Segment to Dominate the Biocides Market:
The oxidizing biocides segment is expected to account for a larger revenue share in the global biocides market, with a value share worldwide. It is projected to grow at 6.4% CAGR between 2022 and 2028. Chemicals known as oxidizing biocides have the power to oxidize microorganisms electrochemically, killing them. The biocide gains an electron from the bacterium during oxidation, and this electron loss kills the bacteria. Oxidizing biocides work best in systems that utilize much water. Chlorine, bromine, iodine, chlorine dioxide, ozone, hydrogen peroxide, sodium chlorite, calcium hypochlorite, sodium hypochlorite, peracetic acids, hypobromous acid, and sodium bromide are among the main oxidizing biocides used to treat water.

Europe Biocides Market:
The Europe market is expected to increase in the global biocides market over the forecast period. It is projected to grow at a CAGR of 6.3% in the coming years. To ensure a high level of environmental and human health protection from the risks posed by chemicals, the European market is heavily regulated with REACH (Registration, Evaluation, Authorization, and Restriction of Chemical Substances) closely monitoring and issuing guidelines. Europe's considerable sustainability focus makes it the most regulated market overall, especially in certifying and commercializing biocides. The area's demand for environmentally friendly biocides expected to fuel the market. The need for biocides in this region has a lot more potential to grow due to the water treatment application.

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Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global biocides market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In December 2020, International Flavors and Fragrances (IFF) and Dupont's Nutrition and Biosciences segment have merged with an expectation of becoming the global leader in the high-value ingredients and solutions for global food & beverage, home & personal care and health & wellness markets. The merger's main motive is to provide solutions for all the evolving customer needs.

Detailed Segmentation:
Based on the type, the market is segmented into the following:
• Oxidizing Biocides
• Non-Oxidizing Biocides
• Others

Based on the application, the market is segmented into the following:
• Water Treatment
• Household & Personal Care
• Paints & Coatings
• Wood Preservatives
• Others

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