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The specialty biocides market is estimated to grow at a CAGR of 8.14% between 2022 and 2027. The size of the market is forecast to increase by USD 3,441.91 million. The growth of the market depends on several factors, including the importance of wastewater recycling and water reuse, the rising need for oil and gas extraction and refining, and the significant growth of the antimicrobial paints and coatings industry.
This report extensively covers market segmentation by application (water treatment, wood preservation, hygiene and disinfectants, paints and coatings, and others), product (halogen compounds, nitrogen-based, inorganics, organosulfur, and others), and geography (North America, APAC, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The reports categorize the global specialty biocides market as a part of the global specialty chemicals market. The global specialty chemicals market covers products and companies engaged in high-value-added chemicals used in the manufacturing of a wide variety of products, including, but not limited to, fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The importance of wastewater recycling and water reuse are notably driving the market growth, although factors such as side effects associated with specialty biocides may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Specialty Biocides Market Driver
The importance of wastewater recycling and water reuse is notably driving the market growth. The consumption of water and the generation of wastewater have been increasing rapidly across the world due to improvements in the living standards of people and the rising per capita consumption of water. The significant increase in the generation of wastewater and the growing need for wastewater treatment are likely to increase the demand for specialty biocides.
Several water purification techniques, such as adsorption, bioreactors, ultraviolet (UV) disinfection, vacuum evaporation, and electrodialysis, are available across the world. However, specialty biocides are generally preferred for water treatment due to their superior resistance to contaminants and high antimicrobial activity. Specialty biocides are widely used for water and wastewater treatment applications in the food and beverage, pharmaceutical, chemical, and petrochemical industries. Thus, the rising need for water and wastewater treatment chemicals is expected to drive the growth of the global specialty biocides market during the forecast period.
Significant Specialty Biocides Market Trend
The increasing use of silver-based biocides is the primary trend in the market. Silver is one of the key metal compounds. It is the most dominant antimicrobial agent due to its high biocompatibility. Silver is a naturally occurring element that shows low toxicity for humans and animals. Hence, it is effective in controlling the growth of many types of microorganisms. It also prevents deteriorating effects such as discoloration, physical damage, corrosion, and foul odor.
Silver ions own positive charge and stick to the negatively charged cell wall particles of microorganisms. This results in the cell wall lysis of the microbes, which leads to the inhibition of their growth. It is increasingly used in medical and healthcare fields, including therapies, because of its antimicrobial properties. The increasing adoption of silver-based specialty biocides for various applications such as healthcare, plastic, paints, and coatings is expected to drive the growth of the market during the forecast period.
Major Specialty Biocides Market Challenge
The health and environmental hazards associated with the use of specialty biocides pose a challenge to the growth of the global specialty biocides market. ?????? Some specialty biocides are highly toxic and very harmful to the environment as well as human and animal health. The disposal of specialty biocides should be controlled after proper processing treatment. These compounds are highly corrosive substances that can cause serious eye and skin infections. Direct contact with antimicrobial additives may require immediate medical attention. The swallowing of specialty biocides is highly toxic and can cause severe sickness.
The toxic properties of specialty biocides can have an adverse effect on the environment, wildlife, fish, and other aquaculture. The untreated disposal of specialty biocide waste may contaminate the soil and water systems such as ponds, lakes, streams, and public water. Disposal intricacies and the harmful environmental, human, and animal health effects of specialty biocides are expected to hinder the growth of the global specialty biocides market.
Key Specialty Biocides Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Specialty Biocides Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Syntec Corp. - The company offers specialty biocides that prevent from causing severe diseases or material deterioration. The company is primarily engaged in the distribution of chemicals and allied products, such as acids, industrial and heavy chemicals, dyestuffs, industrial salts, rosin, and turpentine.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth of the water treatment segment will be significant during the forecast period. Water treatment is one of the key applications of specialty biocides in most developed and developing countries such as the US, Germany, Japan, and China. They are used in cooling water systems and process industries, as well as in the recreational sector for applications such as swimming pools and spas. Specialty biocides are predominantly used to purify and disinfect water. These chemicals exhibit oxidizing and disinfecting properties. Hence, they are widely used for water treatment.
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The water treatment segment was valued at USD 1,721.53 million in 2017 and continued to grow until 2021. The global water treatment market is growing significantly, and concerns about the depletion of groundwater and freshwater resources and the scarcity of potable water are increasing the need for water and wastewater treatment. The rising volume of industrial wastewater, the need for potable water, and the increasing demand for water treatment chemicals will drive the growth of the segment during the forecast period.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The growth of the specialty biocides market in North America is driven by the rising demand for specialty biocides for applications such as water treatment, wood preservatives, paints and coatings, oil and gas, agriculture, and antifouling. Specialty biocides are used to prevent the spread of contagious diseases in industrial areas and other healthcare facilities. The growth of the specialty biocides market in North America is driven by the expansion of the paints and coatings and marine industries. The marine coating sector in the US is anticipated to reach $15 billion by 2024. These expansions are perceived as major factors that will increase the use of specialty biocides in the region as they are used to seize microbial activities in the paints and coatings formulations.
COVID-19 had an adverse impact on the economic growth of North America that led to the shutdown of manufacturing facilities for specialty biocides, which adversely affected the production of specialty biocides. However, with increasing activities in the end-user industries such as chemicals, agriculture, and paints and coating industries, the demand for specialty biocides will increase during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Application (Water treatment, Wood preservation, Hygiene and disinfectants, Paints and coatings, and Others), Product (Halogen compounds, Nitrogen-based, Inorganics, Organosulfur, and Others), and Geography (North America, APAC, Europe, South America, and Middle East and Africa).
Specialty Biocides Market Scope |
|
Report Coverage |
Details |
Page number |
202 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.14% |
Market growth 2023-2027 |
USD 3,441.91 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.03 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 35% |
Key countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Albemarle Corp., Baker Hughes Co., BASF SE, Buckman Laboratories lnternational Inc., Clariant AG, DuPont de Nemours Inc., Ecolab Inc., HIKAL Ltd., Kemira Oyj, Kimberlite Chemicals India Pvt. Ltd., Lanxess AG, Lonza Group Ltd., Merck KGaA, Nouryon Chemicals Holding BV, Solvay SA, Syntec Corp., The Lubrizol Corp., Thor Group Ltd., Valtris Specialty Chemicals, and Vink Chemicals GmbH and Co. KG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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