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The biocides market size is estimated to grow at a CAGR of 8.7% between 2023 and 2028. The market size is forecast to increase by USD 5.81 billion. 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 growth of the antimicrobial paints and coatings industry.
This biocides market 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.
Biocides are chemicals and products that are used to fight the growth of bacteria, fungi, and algae. In daily life, biocides are employed for a variety of reasons, such as eradicating mould from living spaces and homes, protecting food from insects and moths, and combating woodworms in construction materials.
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The importance of wastewater recycling and water reuse is notably driving the growth. Global population growth and rapidly developing urbanization have led to an increasing need to recycle and reuse wastewater across the world. Due to improvements in the living standards of people and the increasing per capita consumption of water, the demand for water and the production of wastewater are growing rapidly around the world. Water and wastewater recycling is an important area of focus for R&D in various industries due to rising environmental concerns and the increasing consumption of water across the world. Further, biocides are widely utilized in water and wastewater treatment applications in the food and beverage, pharmaceutical, chemical, and petrochemical industries. However, recycled wastewater requires sophisticated and advanced treatment solutions, including the use of effective chemicals. Thus, the rising need for water and wastewater treatment worldwide is expected to drive the growth of the market during the forecast period.
Increasing demand for biocides from the healthcare industry is an emerging trend shaping the market growth. The demand for biocides is increasing in the medical and healthcare industry. Speciality biocides are predominantly used in various healthcare applications, such as medical disposables, healthcare and diagnostic instruments, and medical devices. Rising awareness among people and healthcare professionals about hospital-acquired infections (HAIs) is likely to drive market growth. Furthermore, metal biocides are an essential part of the pharmaceutical industry. Silver and copper-based metal biocides are expected to be highly compliant with pharmacopoeia standards. Also, the healthcare industry is majorly dependent on biocides as they help in the sterilization of medical devices along with the disinfection of water and different surfaces inside healthcare facilities. Therefore, these factors are expected to provide significant opportunities for the growth of the biocides market during the forecast period.
Environmental hazards associated with biocides are a significant challenge hindering market growth. The health and environmental hazards associated with the use of biocides pose a challenge to the growth of the biocides market. As biocides are used to destroy living organisms, such as microbes, many biocidal products pose a considerable risk to human health and the environment. As biocides are highly toxic and can be very harmful to the environment as well as human and animal health, the disposal of spent biocides should be controlled after resorting to proper processing and treatment. However, the disposal of untreated biocidal waste may contaminate the soil and natural water systems, including ponds, lakes, and streams, as well as public water resources. The intricacies involved in the disposal of used biocides and their harmful impact on human and animal health and the environment are expected to hinder the growth of the global biocides market during the forecast period.
The market share growth by the water treatment segment will be significant during the forecast period. Biocides are used in water and wastewater treatment to prevent and remove contamination by dangerous pathogens, including bacteria, viruses, fungi, and algae, from growing in drinking water sources, distribution networks, and storage tanks.
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The water treatment segment was the largest and was valued at USD 2.66 billion in 2018. A variety of biocides are frequently employed in water treatment applications, such as chlorine, bromine, ozone, copper, and silver ions, and others. These biocides prevent the pollution of rivers and oceans and guarantee access to clean water. The need for water and wastewater treatment is rising sharply due to concerns about the depletion of freshwater and groundwater supplies as well as the shortage of drinking water. The rising volume of industrial wastewater that is generated, the need for potable water, and the increasing demand for water treatment chemicals will drive the growth of the water treatment segment, thereby driving the growth of the biocides market during the forecast period.
Based on the product analysis, halogen compounds hold the largest market share. Halogen compounds mainly include chlorine, bromine, and iodine-based biocides. Chlorine-based biocides are the most preferred type of halogen compounds due to their strong lethal activity on pathogens and extensive use in water treatment applications, such as cooling towers, reverse osmosis (RO) facilities and cold-water storage tanks. Moreover, halogen compounds are increasingly being used in a variety of industrial applications, including for preservation in the food and beverage industry, wastewater treatment facilities and swimming pool water treatments, and others, which, in turn, will fuel the growth of the halogen compounds segment, thereby driving the growth of the biocides market during the forecasts period.
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.
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The growth of the biocides market in North America is driven by the rising demand for biocides in applications such as water and wastewater treatment, wood preservatives, paints and coatings, oil and gas, agriculture, and antifouling. Biocides are used to prevent the spread of contagious diseases in industrial areas and healthcare facilities. Several regulations, such as the Canadian Environmental Protection Act (CEPA), the Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA), the US Federal Food, Drug, and Cosmetic Act (FFDCA), have been passed by the governments of countries such as the US and Canada. Such legislative and regulatory actions encourage the oil and gas, paints and coatings, agriculture, and maritime industries to employ biocides, which fuels the expansion of the market in the region. In addition, the presence of poisonous chemicals in potable water in the region has increased the demand for biocides in the region. Such factors are expected to drive the regional biocides market during the forecast period.
Companies are implementing various strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
Albemarle Corp. - The company offers biocides such as Sanibrom 40 biocides that are used as agricultural fertilizers and battery electrolytes, as well as pigments, fillers and processing aids for paper manufacturing.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The biocides market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018-2028.
Biocides Market Scope |
|
Report Coverage |
Details |
Page number |
176 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.7% |
Market Growth 2024-2028 |
USD 5.81 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.56 |
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 Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Albemarle Corp., Baker Hughes Co., BASF SE, Berkshire Hathaway Inc., Buckman Laboratories lnternational Inc., Clariant International Ltd., Eckoh , Ecolab Inc., HIKAL Ltd., Lanxess AG, Lonza Group Ltd., Merck KGaA, Nouryon Chemicals Holding BV, Solvay SA, and Thor Group Ltd. |
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, 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. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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