Press release
Future of Biocides Market Size 2024 Dow Chemicals, Troy Corporation, BASF SE, Solvay, Albemarle and Thor Group
Biocides Market from water treatment application will exceed USD 3.2 billion during forecast period due to wide application demand for treated water in livestock farming and agribased business. They also act as anti-fouling agents to prevent mollusks accumulation in industrial water pipelines. These products are used in industrial water treatment to prevent contamination from microbial attack.
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Biocides Market should cross USD 13 billion by 2024; according to a new research report by Global Market Insights, Inc.
Rapid infrastructural & industrial growth along with renovation projects incurs spending in Brazil, Argentina, India, China and Japan leading to rise in paints & coatings demand. They are protective substances added to help improve product lifespan, preserve paint formulation and protect applied structures.
Biocides industry from oil & gas application may grow at over 5% by 2024. Global energy demand along with falling crude oil & natural gas prices has led to increasing exploration and downstream activities. Extensive application of petroleum in various end-use and petrochemical industries coupled with rise in automotive production should drive product demand.
Stringent regulatory regimes on Biocides market authorization and concentration levels might hinder product demand. Supportive policies by USDA and EFSA on its usage in food processing and packaging areas along with growing consumer food safety concerns should drive biocides demand.
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Organic acid biocides market should witness significant gains during forecast period owing to positive outlook in food preservation and oil & gas well treatment applications. Lactic acid based products are extensively used as antimicrobial agent in poultry & meat industry whose demand can be attributed to increase in global consumption of meat products.
Organosulfur based biocides demand will engross over USD 1.5 billion at end of 2024 owing to its impact on micro-organisms like algae and bacteria in re-circulating water systems. They are also conjugately used with chlorine for higher effectiveness in cooling systems. Positive application demand in HVAC, automobiles and air conditioning should further bolster product demand.
U.S. biocides market share is estimated to witness gains at over 4% during forecast period due to positive application outlook in food industry. Their usage in food industry is regulated and used as preservative for higher shelf life and preventing quality degradation.
Germany biocides market should witness significant gains owing to positive outlook in automotive and paints & coating industry. This regional product demand can be attributed to rise in per-capita income and presence of major automotive manufacturing units.
Global biocides market share is consolidated with participants including Dow Chemicals, Troy Corporation, BASF SE, Solvay, Albemarle and Thor Group. Industry participants concentrate on partnership, mergers and acquisition to expand their production capabilities and regional presence.
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