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Biocides Market 2023 - Market Size, Scope Analysis, Key Insights, Leading Players, And Forecast To 2032
Biocides Market Analysis
The Business Research Company's Biocides Global Market Report 2023 identifies increase in the use of antimicrobial protection in end-use industries as the major driver for the biocides market's growth in the forecast period. Antimicrobial protection refers to a substance that exhibits the capacity to lower or inhibit the levels of microorganisms, including bacteria and mold. The biocides have widespread applications as an antimicrobial, disinfectant, and preservative in the various end-use industries such as agrochemicals, food & beverages, water treatment, paints & coatings, cosmetics & personal care, oil & gas, and pulp & paper. In hospitals and other health institutions, the use of biocides is essential to avoid and control the spread of infectious diseases.
The global biocides market size is expected to grow from $11.66 billion in 2022 to $12.43 billion in 2023, at a compound annual growth rate (CAGR) of 6.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The biocides market size is expected to reach $15.42 billion in 2027 at a CAGR of 5.5%.
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Major competitors in the biocides market are Chemtreat Inc., The Dow Chemical Company, LANXESS, Thor Group Limited, BASF SE, Kemira Oyj, Solvay, Nouryon, Solenis, Veolia.
A key trend in the biocides market includes product innovation. Major companies operating in the biocides sector are focused on developing innovative products to strengthen their position. For instance, in June 2020, Whelehan Crop Protection, an Ireland-based company engaged in the manufacturing, sales, and distribution of medical, crop protection, animal health, and garden care products, launched "Enclean," an innovative, plant-based biocide. Unlike other traditional biocides, the application window is much wider in the case of Unclean, as it can be applied at low water volumes and is able to remove algae and green deposits effectively.
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The biocides market is segmented -
1) By Type: Oxidizing Biocides, Non-Oxidizing Biocides
2) By Grade: Food Grade, Pharmaceutical Grade, Industrial Grade, or Technical Grade
3) By End User: Agrochemicals, Food and Beverages, Water Treatment, Paints and Coatings, Wood Preservatives, Cleaning Agents, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the biocides market.
The Business Research Company's "Global Biocides Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Biocides Market Include:
1. Executive Summary
2. Biocides Market Characteristics
3. Biocides Market Trends And Strategies
4. Biocides Market - Macro Economic Scenario
5. Biocides Market Size And Growth
…
26. Africa Biocides Market
27. Biocides Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Biocides Market
29. Biocides Market Future Outlook and Potential Analysis
30. Appendix
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