An increase in demand from paints and coatings and water treatment industry is driving the demand for the market.
Market Size – USD 10.09 Billion in 2019, Market Growth – CAGR of 4.5%, Market Trends – Growing demand in the food and beverage sector.
The global Biocide market is forecasted to reach USD 14.31 Billion by 2027, according to a new report by Reports and Data. Biocides are chemical products or microorganisms that are used to control the harmful pathogens by chemical or biological synthesis. It is non-toxic in nature, has high cleansing action, and has high resonance with solvents, which makes it compatible with different end-use industries.
It is widely used in the manufacture of personal products, due to its dual nature. It can be used in antimicrobial agents as well as preservatives in face wash, manufacturing soaps, and cleansing conditioners. Consumers are switching to high-quality products to protect themselves from skin infections, which will foster market demand.
Biocides are used in the healthcare sector, primarily for disinfection purposes of equipment, water, surfaces, and antisepsis. It is also used for the preservation of medicinal and pharmaceutical and sterilization of medical products. Several medical products contain low concentrations of biocides, such as curtains, linens, mops, and mattresses, to control the spread of infection in the hospitals.
The Covid-19 Impact
The current scenario of the COVID-19 pandemic has led most of the people to address safety and public health conditions. This is leading to an increase in demand for disinfectants. The products are flying off the racks as they are being stockpiled, and manufacturers have started production in large quantities to meet the requirements of the consumers. The demand has surged exponentially, and the market will face a steady demand even when the impact of COVID-19 has reduced.
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Key participants include BASF SE, Akzonobel N.V., The DOW Chemical Company, Troy Corporation, Kemira OYJ, Lanxess AG, Thor Group Limited, Solvay SA, The Lubrizol Corporation, and Clariant AG among others.
Further key findings from the report suggest
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For the purpose of this report, Reports and Data have segmented into the global Biocide market on the basis of the type, product type, application, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
Product Type Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
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Table of Content:
Chapter 1. Market Synopsis 1.1. Market Definition 1.2. Research Scope & Premise 1.3. Methodology 1.4. Market Estimation Technique Chapter 2. Executive Summary 2.1. Summary Snapshot, 2019-2027 Chapter 3. Indicative Metrics Chapter 4. Biocides Market Segmentation & Impact Analysis 4.1. Biocides Market Material Segmentation Analysis 4.2. Industrial Outlook 4.2.1. Market indicators analysis 4.2.2. Market drivers analysis 4.2.2.1. Increasing Demand for Water for Domestic as Well as Industrial Purpose 4.2.2.2. Growth in end-use industries 4.2.3. Market restraints analysis 4.2.3.1. High cost of raw materials 4.3. Technological Insights 4.4. Regulatory Framework 4.5. ETOP Analysis 4.6. Porter’s Five Forces Analysis 4.7. Competitive Metric Space Analysis 4.8. Price trend Analysis 4.9. Customer Mapping 4.10. Covid-19 Impact Analysis 4.11. Global Recession Influence
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Chapter 9. Competitive Landscape 9.1. Market Revenue Share By Manufacturers 9.2. Manufacturing Cost Breakdown Analysis 9.3. Mergers & Acquisitions 9.4. Market positioning 9.5. Strategy Benchmarking 9.6. Vendor Landscape Chapter 10. Company Profiles 10.1. BASF SE 10.1.1. Company Overview 10.1.2. Financial Performance 10.1.3. Technology Insights 10.1.4. Strategic Initiatives 10.2. Akzonobel N.V. 10.2.1. Company Overview 10.2.2. Financial Performance 10.2.3. Technology Insights 10.2.4. Strategic Initiatives 10.3. The DOW Chemical Company 10.3.1. Company Overview 10.3.2. Financial Performance 10.3.3. Technology Insights 10.3.4. Strategic Initiatives 10.4. Troy Corporation 10.4.1. Company Overview 10.4.2. Financial Performance 10.4.3. Technology Insights 10.4.4. Strategic Initiatives 10.5. Kemira OYJ 10.5.1. Company Overview 10.5.2. Financial Performance 10.5.3. Technology Insights 10.5.4. Strategic Initiatives 10.6. Lanxess AG 10.6.1. Company Overview 10.6.2. Financial Performance 10.6.3. Technology Insights 10.6.4. Strategic Initiatives
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