Metal Biocides Market to Garner $5.87 Billion, Globally, By 2031 at 4.8% CAGR, Says Allied Market Research

Allied Market Research recently released a report titled "Metal Biocides Market by Type (Copper, Silver, Zinc, Others) and Application (Paints and Coatings, Food and Beverages, Medical, Textile, Wood Preservation, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031". The report reveals that the global metal biocides industry generated $3.67 billion in 2021, with expectations to reach $5.87 billion by 2031, marking a Compound Annual Growth Rate (CAGR) of 4.8% from 2022 to 2031.

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Key Growth Drivers:

The growth of the global metal biocides market is fueled by increased investments in infrastructure development in countries such as the U.S., China, Japan, Mexico, and India. Additionally, the use of metal biocides in various cosmetic formulations and the growing awareness regarding cleanliness and hygiene are contributing factors. However, the market growth faces constraints due to the availability of substitutes such as chelating molecules, scavengers, isothiazolinone, phenols, and alcohols.

Moreover, the rise in purchasing power and the prevalence of fast-paced lifestyles have led to increased sales of packaged food items, particularly in developed and developing economies. Metal biocides are widely used in the food industry as disinfectants and preservatives, presenting new opportunities for market growth in the coming years.

COVID-19 Impact:

The COVID-19 pandemic resulted in temporary disruptions in the demand for metallic biocides across various industries. Many companies had to shut down or scale back operations due to the risk of infections among the workforce, impacting the use of metallic biocides as preservatives and antibacterial agents. Additionally, international border closures and reduced transportation activities in over 100 countries led to a significant decline in metallic biocide consumption.

However, the market is expected to recover rapidly post-pandemic, driven by increased dependency on healthcare, pharmaceuticals, agriculture, and other sectors.

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Silver Segment's Leadership:

The silver segment dominated the market in 2021, accounting for nearly half of the global metal biocides market share. It is projected to maintain its leadership position throughout the forecast period. This dominance is attributed to the increasing popularity of anti-microbial paints in modern architecture, where silver-based biocides are used to inhibit bacterial and algal growth. Meanwhile, the copper segment is expected to register the highest CAGR of 5.1% from 2022 to 2031 due to increased water treatment activities.

Paints and Coatings Segment's Lead:

In terms of application, the paints and coatings segment held the largest share in 2021 and is expected to maintain its lead position during the forecast period. This is driven by the growing population, which fuels the building and construction sector, where metal biocides are used to prevent bacterial, fungal, and algal growth on painted surfaces. Conversely, the medical segment is anticipated to exhibit the highest CAGR of 5.4% from 2022 to 2031 due to the rising incidence of hospital-associated infections.

Asia-Pacific Dominance:

Asia-Pacific emerged as the dominant region in terms of revenue in 2021, accounting for nearly two-fifths of the global metal biocides market. The region is also expected to witness the fastest CAGR of 5.2% from 2022 to 2031. China's rapidly growing paints and coatings manufacturing sector is driving demand for efficient metal biocides used as disinfectants and food preservatives.

Leading Market Players:

Key players in the metal biocides market include Pilot Chemical Corp, KLK OLEO, Azelis, OTTO CHEMIE PVT.LTD., Dadia Chemical Industries, Samrat Industries, Troy Corporation, SIDDHARTH CHEMICALS, BASF, and Evonik Industries.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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