Biocides Industry to Reach USD 12.5 billion by 2033, Driven by Rising Healthcare and Pharmaceutical Applications

The biocides market growth is anticipated to surpass USD 12.5 Billion by 2033, while it holds a revenue of USD 8.9 Billion in 2023. The market is anticipated to thrive at an average CAGR of 3.4% between 2023 and 2033.

A wider range of applications as a preservative and germ-controlling agent is propelling the growth of the biocides market. Furthermore, advanced pharmaceutical companies are implementing biocides to shelf their medicines for longer usage.

In expanding packaged food industry, look for an affordable preservation option provided through biocides. Restoration of the FMCG sector has also ended up thriving the growth of the biocides market.

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Emerging economies such as India and China are building their medical and pharmaceutical industry. Even India has been recognized as the "pharmacy of the world" as it fuels the manufacturing and production of drugs, flourishing the sales of biocides solutions.

The use of phenolics biocides in different surgical procedures has also been highlighted recently and is likely to thrive the demand for biocides.

Its use in botanical experiments to eliminate microorganisms and plants helps research and development programs. Thus, the future of the biocides market looks promising.

Higher food exports between nations and the restoration of sea trade post-pandemic demand for a sustainable preservation solution. The biocides solution fits right in the picture, preventing the food items from getting exposed to microorganisms.

Key Pointers:

- The Chinese market is the biggest and fastest market for preservation technology and is anticipated to cross a value of USD 3.0 Billion by 2033. The regional market is expected to thrive at an average CAGR of 4.4% between 2023 and 2033.
- The US market thrives at the highest CAGR of 2.9% during the forecast period. The market is likely to reach a value of USD 2.5 Billion by 2033.
- The halogen compound segment is expected to thrive in the product category due to its wider application including the water treatment sector and the paint industry. It is expected to thrive at a CAGR of 3.4% during the forecast period.
- Industrial grade tops the grade type segments with a CAGR of 3.3% between 2023 and 2033 while it thrived at a lower CAGR of 2.3% during the previous forecast period.

Competitive Landscape:

The focus of key competitors is to deliver application-specific biocide solutions. Furthermore, advanced pharmaceutical companies have extended their research verticals as their in-house biocides production.

Major Contributors to the Biocides Market are

Clariant AG
Lonza Group
ICL Group
BASF SE
DOW
Veolia
Troy Corporation
Nouryon
Kemira Oyj
Ecolab USA Inc.
Albemarle Corporation
Solvay SA
Lanxess AG
Buckman Laboratories International
Melzer Chemicals Private Limited
Dalian Xingyuan Chemistry Co., Ltd.
Aegis Chemical Solutions
B&V Chemicals
Helvemed SA
Thor Group
SIDDHARTH CHEMICALS
Solenis
Zaozhuang Kerui Chemicals Co., Ltd.
Shandong IRO Biocide Chemicals Co., Ltd.

For instance,

- Clariant AG has introduced its biocides for paints and coatings named NIPACIDE which protects the paint from microbial contamination. The major biocide products are nipacide BIT 10 W, nipacide BIT 20, and nipacide BK.
- Veolia has launched its Hydrex 7000 biocide chemicals for water treatment that eliminated slime, formation of hydrogen sulfide, corrosion and biofuels

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Key Segmentation:

By Grade:

Food Grade
Pharmaceutical Grade
Industrial/ Technical Grade

By Type:

Halogen Compounds
Metallic Compounds
Organic Acids
Organo-sulfurs
Nitrogen
Phenolic
Others

By End Use:

Agrochemicals
Food & Beverages
Water Treatment
Paints & Coatings
Cosmetics & Personal Care
Oil & Gas
Pulp & Paper
Wood Preservatives
Cleaning Agents
Others

By Region:

North America
Latin America
Europe
Asia Pacific (APAC)
Middle East & Africa (MEA)

Related Reports:

Algaecides Market: https://www.futuremarketinsights.com/reports/algaecides-market

Algae Treatment Chemical Market: https://www.futuremarketinsights.com/reports/algae-treatment-chemical-market

Water Treatment Chemical Market: https://www.futuremarketinsights.com/reports/water-treatment-chemical-market

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This release was published on openPR.