Biocides Market Size, Share & Trends Analysis Report By Product (QAC, Organosulfurs), By End-use (Paints & Coatings, Water Treatment, HVAC), By Region (APAC, Europe, North America), And Segment Forecasts, 2023 - 2030

Biocides Market Size, Share & Trends Analysis Report By Product (QAC, Organosulfurs), By End-use (Paints & Coatings, Water Treatment, HVAC), By Region (APAC, Europe, North America), And Segment Forecasts, 2023 - 2030

Biocides Market Growth & Trends

The global biocides market size is expected to reach USD 11.9 billion by 2030, registering a CAGR of 4.2% during the forecast period, as per the new report by Grand View Research, Inc. The growth is attributed to the high demand from the I&I cleaning and food industry, where they are largely used to control microbial contamination. They find application in disinfecting food containers, surfaces, or pipes used in food logistics and more. Increasing innovations by various multinationals to expand their product portfolio as well as minimize hazards caused by biocides shall lead to broader consumption of the product in the coming years. Biocides find substantial application in the coating and printing industry since the paints & coatings products are often subject to microbial attack, which eventually leads to degradation.

Biocides are utilized in the industry vividly in product formulations to make the paints & coatings resistant to bacteria, algae, fungi, and other microbes from growing on the painted surface. The biocides added to the paint formulator not only inhibit microbial growth over the painted surface during the summer but also after the paint has dried. The demand for biocides in above mentioned end-use application has increased as a result of the rising use of water-based paints and coatings. Biocides have been in use in various water treatment applications, wherein it is utilized for water disinfection purposes. Countries, such as the U.S., Germany, Italy, and France, among others have been utilizing various biocide compositions for drinking water treatment applications as well as for disinfecting other commonly used water sources, such as water tanks and swimming pools due to their cost-effectiveness, easy availability, safe utilization, and effective disinfecting properties.

The countries in the Central & South America region are expected to witness a trend of increased consumption of food & beverage products manufactured by adding additives to enhance flavor and taste owing to the shifting consumer eating habits and favorable regulatory developments in the region. These factors have led to a strong increase in the demand and consumption of high-end value-added products like carbonated drinks, desserts, and bakery products, among others. Moreover, the presence of major manufacturers, such as Cargill Inc., General Mills, and Kraft Foods, is expected to boost product demand over the forecast period.

Biocides Market Report Highlights

• Quaternary Ammonium Compounds (QAC) are expected to be the fastest-growing product segment from 2023 to 2030 on the account of their use in food & beverage, leather, textile, water treatment, and coatings among others
• The halogen compounds segment led the market in 2022 due to the high product demand on account of their potent antibacterial and oxidizing capabilities, which make them ideal for use in municipal drinking water plants and wastewater treatment facilities
• Water treatment is projected to emerge as the fastest-growing end-use segment from 2023 to 2030 due to the extensive product utilization in Reverse Osmosis (RO) and desalination treatment processes
• Asia Pacific is projected to register the fastest CAGR from 2023 to 2030 due to the factors, such as the increased manufacturing of disinfectants, post-pandemic effects, and the presence of a large number of end-users
• Companies like BASF SE and Dow Inc. exhibit strong supply chain integration in the biocides industry with involvement in raw material manufacturing