Global Biocides Market is Expected to Reach USD 9,622.0 Million in 2018: Transparency Market Research
ALBANY, New York, October 25, 2013 /PRNewswire/ --
According to a new market report published by Transparency Market Research "Biocides (Halogen Compounds, Metallic Compounds, Organosulfurs, Organic Acids, Phenolic, Nitrogen and Others) Market for Water Treatment, Food and Beverage, Personal Care, Wood Preservation, Paints and Coatings and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018," the global biocide market was USD 6.99 billion in 2011 and is expected to reach market worth USD 9.62 billion in 2018 growing at an estimated CAGR of 4.7% over the forecast period from 2012 to 2018.
Browse the full report with complete TOC at http://www.transparencymarketresearch.com/global-biocides-market.html
With growing population and increasing concern regarding industrial wastewater, the demand for biocides has been increasing in households as well as industrial sector. Other growing end-use industries such as paints and coatings and personal care are expected to drive the global biocide market. However, stringent environmental regulations regarding use of these biocides may hinder the market growth in future.
Water treatment emerged as the largest application of biocides and accounted for more than 22% of the global market in 2011. It is also projected to be the fastest growing application with an estimated CAGR of 5.9% over the forecast period, owing to increasing demand of treated water from various sectors such as industrial, commercial and households. Other major end-use applications of biocides include paints, coatings and personal care, which are expected to show moderate growth in coming years, owing to increasing hygiene concern globally. Rest of the applications including food and beverages, wood preservation and other applications such as fabrics together accounted for more than 50% of the global market in 2011.
Major biocides products segments include halogen compounds, metallic compounds and organosulfurs. Halogen compounds led the biocides market with 28.4% of the total demand in 2011. Ever increasing global demand for water supply has been driver for the growth of halogen based biocide market. However, owing to toxic nature of chlorine and bromine compounds there is a concern amongst developed nations regarding its use as biocides. Metal-based biocides followed halogen biocides and accounted for more than 19% of the total market in 2011. These biocides find applications in the treatment of industrial wastewater especially for disinfection. Phenolic biocides are expected to be the fastest growing market at an estimated CAGR of 6.8% over the forecast period. Growing demand from healthcare and homecare products is expected to drive the market for phenol-based biocides.
North America accounted for the largest market share, 43.0% of the global biocide demand in 2011. Growing industries such as food processing, paper and pulp, plastics and personal care in the region, are expected to drive the growth of biocides in the coming years. However, government regulations regarding use of biocides owing to its toxic and hazardous nature are expected to have an impact on the biocide market in the region. Asia Pacific is projected to be the fastest growing market at an estimated CAGR of 5.8% from 2012 to 2018. Growing end-use industries such as paints and coatings and water treatment among others has been driving growth in biocide demand in the region. Asia Pacific was followed by Europe which is expected to witness slow growth compared to the other three regions.
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Major market players include Albemarle, AkzoNobel, Arch Chemicals, Ashland Inc., BASF SE, Champion Technologies, Clariant AG, Lanxess, Lubrizol, The Dow Chemical Company, Thor Group Ltd and Troy Corporation among others.
The report segments the global biocides market as;
Biocides Market: Product Segment Analysis
- Halogen Compounds
- Metallic Compounds
- Organic Acids
Biocides Market: Application Segment Analysis
- Water Treatment
- Food and Beverages
- Personal Care
- Wood Preservation
- Paint and Coatings
Biocides Market: Regional Analysis
- North America
- Asia Pacific
- Rest of the World
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