According to the findings by the World Health Organization (WHO), 2.1 billion people globally are deprived of safe drinking water at domestic spaces. Owing to lack of safe drinking water, water treatment is on high demand that is propelling the biocides market globally, as it is applied as anti-fouling agents and disinfectants. Biocides, with its antimicrobial traits and extensive application as disinfectants, preservatives, and pesticides are used in various industries such as healthcare, waste-water treatment, agriculture, food and beverages, paints, coatings, pulp, paper, plastics and construction. With application segments undergoing rapid development and sourcing recurring demand, global biocides market size was estimated to be $7.7 billion in 2018. Increasing population has augmented the demand of agricultural products and created a global demand for infrastructure, as both the agriculture as well as construction sector are avid employer of biocides in various commodities including pesticides, plastic and paints & coatings, hence opportunities in the market is progressing at a global CAGR of 5.2% during the forecast period 2019-2025.
Biocides Market Outlook:
After further analysis of developments and opportunities in various end user verticals relevant to biocides market, paints & coating is reckoned to be the fastest growing segment, progressing with an application CAGR of 5.8% by 2025. As per the World Paints and Coatings Industry Association (WPCIA), global paints & coatings market witnessed an upsurge of 4.9% to reach a global value of $164.9 billion in 2018. With paints and coatings being an imperative asset in flourishing sectors such as construction and automotive, this segment is estimated to dominate the global biocides market in terms of application. Antimicrobial, antifungal and antibacterial peculiarities of biocides are leveraged by paints and coatings manufacturers to deliver paints that inhibit the growth of bacteria and
APAC with its densely populated, agriculture and construction affluent economies of China and India, and extensive automotive OEMs center of Japan, dominate the global biocides market share. After an analysis of regional shares, APAC is calculated to hold 36% of the global market size in 2018. As biocides finds integral application as mentioned earlier in agriculture and construction, some facts can further validate the dominance of APAC-
1.As per the findings by Business and Economics Journal, Indian agriculture sector accounts for around 18% of country’s GDP and delivers occupation to 50% of the countries workforce.
2.Institution of Civil Engineers-The volume of construction output will advance by 85% to reach $15.5 trillion globally by 2030, with India, China and the U.S. responsible for 57% of all global growth. India will overtake Japan to secure the 3rd position in terms of largest construction market by 2021.
3.WPCIA stated that APAC accounted for about 50% of the global paints and coatings output volume with China encompassing about two-thirds of the region’s intake in 2018.
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Biocides Market Growth Drivers and Trends:
Increasing adoption of powder coatings-
Paints and coatings industry witnessing turmoil due to lead constituent in paints has expanded its forte with the advent of powder coatings. This has further stretched the scope of biocide’s application in paints and coatings industry with an emerging novel front. As Powder Coatings Market is progressing with a global CAGR of 6.10% going through 2025, it is a major growth driver for biocides market demand. With automotive OEMs diverting towards powder form of coatings due to economic and labor efficiency, this segment is a mega trend and impacting the market positively.
Abundant adhesives and sealants in modern infrastructures and lightweight automotive-
Modern constructions with complex designs adopting molded glass and polymers, due to flexibility and lightweight properties. This has augmented the application of adhesives and sealants that are more vulnerable to microbial attack in intricate designed infrastructures fitted out with glass and polymers. As a consequence, bourgeoning demand for adhesives and sealants from the construction sector is driving the application of in-can preservatives and dry film fungicides, positively influencing the biocides market size. Similarly, lightweight automotive trend has influenced automotive OEMs to opt for polymers to manufacture automotive equipment. With glass and plastic adding aesthetic feasibility and flexibility in automotive design, adhesives and sealants are highly adopted by players present in electric vehicles (EV) market.
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Biocides Market Players Perspective:
Some of the key players dominating the global biocides market are Troy Corporation, DowDuPont Inc., Thor Specialities, Ashland Inc., Arch Chemicals, BASF SE, Akzo Nobel N.V, Champion Technology Services, Inc., Lanxess, and Albemarle Corporation.
Companies are highly investing on R&D activities for manufacturing innovative products to carve a niche for themselves and stand out among competitors. For instance, Dow Microbial Control launched a new product “SEA-NINE” which is designed for marine antifouling paint, used in process preservation chemistries, water treatments, sanitizing and disinfection.
Biocides Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Biocides Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the various types of trends in global Biocides Market, and their specific advantages to the market.
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The Biocides Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
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