Press release
The Global Biocides Market: Trends, Growth, and Future Outlook
According to a report published by Allied Market Research, the biocides industry is anticipated to generate a revenue of $20.7 billion by 2027, growing at a CAGR of 6.8% from 2020 to 2027. The market was valued at $12.7 billion in 2019.
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Market Segmentation:
Halogen-based derivatives segment: This segment accounted for more than two-fifths of the market in 2019 and is expected to maintain its dominance. Increased demand for clean water and halogen-based biocides from various industries such as oil & gas, chemical, pulp & paper, etc., drives segment growth.
Organic acid segment: Expected to register the highest CAGR of 7.2% from 2020 to 2027 due to increased demand in various applications such as preservatives, home care, drilling fluids, waste gas treatment, textile processing, etc.
Recent advancements in the sector
Increase in demand for effective disinfectants, preservatives, and antimicrobial agents across various industries has led to significant advancements in biocides. Plant-based compounds have become popular nowadays due to their remarkable antimicrobial properties. For instance, oils from thyme, eucalyptus, and oregano have showcased efficacy against a wide range of bacteria and fungi. These plant extracts are widely used in biocidal formulations due to their biodegradability and low toxicity.
Moreover, enzymes have been identified as eco-friendly chemical compounds due to their ability to break down organic matter. Enzymatic biocides, such as protease and lysozyme, help target protein and microbial cells, respectively. They are derived from natural sources and produced sustainably through biotechnological processes.
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End-Use Industry Insights:
Agriculture segment: Accounted for more than one-fifth of the total market in 2019 and is expected to maintain its dominance. The demand for crop protection and advancements in biocide products in agriculture drive segment growth.
Personal care, home care, and pharmaceutical segments: Expected to register the highest CAGR of 7.4% from 2020 to 2027 due to increased demand for biocides in personal care applications such as hair care, skin care, oral care, toiletries, etc.
Regional Insights:
Asia-Pacific: Dominated the market in 2019 and is expected to maintain its dominance throughout the forecast period. The region is anticipated to manifest the fastest CAGR of 7.4% from 2020 to 2027 due to the presence of key players and manufacturing facilities, along with an increase in the use of biocides in food & beverage applications.
North America: Contributed significantly to the market share in 2019 and is expected to maintain its position.
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Major companies profiled in the report include:
Nouryon
Solvay
Ecolab
Kemira OJY
Solenis
Veolia
DuPont,
Lonza AG
BASF
LANXESS
In summary, the AMR study on the biocides market provides actionable insights and a thorough understanding of various aspects of the industry. The segmental and regional analyses included in the report help companies understand the evolving landscape of the sector, enabling them to formulate their strategies effectively.
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About Us
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.
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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