Biocides Market

Biocides Market

Growth Factors of Biocides Market

The biocides market size was valued at USD 7.99 billion in 2023, and the market is now projected to grow from USD 8.34 billion in 2024 to USD 11.70 billion by 2032, exhibiting a CAGR of 4.2% during the forecast period of 2023-2030.

The COVID-19 pandemic has hindered the biocides market growth. The lockdown restriction has led to a halt in the manufacturing of various products related to the mentioned sectors. The disruption in the supply chain, and stoppage in exports of raw materials has resulted in the reduction in demand for the product and.

The biocides market share globally has been grown owing to the increasing demand from paints and coatings industry to aid market growth. The product is utilized to shield the surface painted on from microbial contamination including fungal or bacterial growth because of air pollution and exposure to the outer environment. The surfaces are walls of building & infrastructure. The exterior of vehicles and consumer goods are utilizing the components.

The trend of growing product requirements in the health sector is generating growth opportunities. The development in the medical industry is attributable to the rising consumer awareness for health and hygiene. This is supporting manufacturers to implement advanced technologies in creating solutions for the medical field. They are chemicals that act as antiseptics and cleaners employed in hospitals and clinics to sustain hygiene and sterilization. They are used for cleaning surgical instruments, tools, surfaces, and fixtures which are propelling the demand.

Comprehensive Analysis of Biocides Market

The biocides market and chemicals & advanced materials industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a thorough regional assessment considering the dominant supply and demand forces that impact the bulk chemicals industry. These segmentations are methodically segregated into type and application. The types are such as halogen compounds, metallic compounds, quaternary ammonium compounds, phenolic, organic acids, organosulfur, and others. The application segment includes leather and suede, water treatment, food and personal care products, cleaning products, clothing and textiles, furniture and furnishings, paints and coatings, fuel preservatives, and others.

The Asia Pacific region is conducive to the global biocides market, leading to a recall of USD 2.63 billion owing to the rising construction activities due to demand from the ever-growing population in the region.

The top players in the market play a crucial role in the chemicals & advanced materials industry assuring industrial prospectus growth and setting market standards. These players include Vink Chemicals GmbH & Co. KG (Germany), Clariant (Switzerland), Kemira Oyj (Finland), Lanxess AG (Germany), Troy Corporation (U.S.), Thor Group Limited (UK), Solvay SA (Belgium), Neogen Corporation (UK), Finoric LLC (U.S.), Shanghai Zhongxin Yuxiang Chemical Co., Ltd (China), Shandong IRO Biocide Chemicals Co., Ltd. (China), Albemarle Corporation (U.S.), Lonza Group Ltd (Switzerland), and Wuxi Honor Shine Chemical Co. Ltd. (China), these market players present a level-playing competitive landscape.

In March 2019, LANXESS had acquired the Itibanyl Produtos Especiais Ltda. (IPEL). The acquisition is serving the company in the material protection products business unit and increasing the global presence while also helping South American consumers from a domestic production facility.

Segmentation Table

Global Biocides Market Scope

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 4.2% from 2024-2032

Unit Value (USD Billion); Volume (Kiloton)

Segmentation By Type

Halogen Compounds

Quaternary Ammonium Compounds

Metallic Compounds

Phenolic

Organic Acids

Organosulfur

Others


By Application


Water Treatment

Food and Personal Care Products

Cleaning Products

Furniture and Furnishings

Clothing and Textiles

Leather and Suede

Paints and Coatings

Fuel Preservatives

Others


By Geography


North America (By Type, By Application)

U.S. (By Type)

Canada (By Type)

Europe (By Type, By Application)

Germany (By Type)

France (By Type)

U.K. (By Type)

Italy (By Type)

Turkey (By Type)

Russia (By Type)

Rest of Europe (By Type)

Asia Pacific (By Type, By Application)

China (By Type)

Japan (By Type)

India (By Type)

South Korea (By Type)

Rest of Asia Pacific (By Type)

Latin America (By Type, By Application)

Brazil (By Type)

Mexico (By Type)

Argentina (By Type)

Rest of Latin America (By Type)

The Middle East & Africa (By Type, By Application)

Saudi Arabia (By Type)

South Africa (By Type)

Egypt (By Type)

Rest of Middle East & Africa (By Type)

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