Increasing application scope of biocides in various industries such as wood preservation, fuels, HVAC, and oil & gas among others would expand the market landscape in the forthcoming years. Biocides are a chemical substance that is used to impede the growth of harmful bacteria and pests. It is also used to decontaminate the skin of medical professionals and patients from bacteria and other harmful germs.
The product is used in the making of antifouling coatings. The application of antifouling coating in marine vessels further helps in reducing unwanted growth of aquatic organisms on ship hulls and eventually helps in lowering carbon emissions of these modes of transportation.
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A growing number of marine vessels across the globe will boost demand for the product, due to its effective applications in marine fleets. For instance, China has the maximum number of marine fleets amounting to 5,206, which is expected to increase in the coming years owing to rising coastal border security concerns in the region. According to Global Market Insights, Inc., global biocides market size is expected to grow substantially in the forthcoming years.
Based on applications, the biocides industry is categorized into food & beverage, water treatment, wood preservation, personal care, HVAC, paints & coatings, oil & gas, boilers, fuels, and others. HVAC product demand is likely to be augmented by the increasing safety concerns and strict government norms on workplace hygiene and safety.
The biocides formulation usage in duct cleaning services effectively destroys contaminants like bacteria and fungi which generates in isolated places. These cleaning services apply biocides to the interior of the duct to disrupt microbial growth inside the component. This is considered to be the most effective way of curbing the spread of fungi, bacteria, mold, and viruses. Reportedly, the market share from other applications will expand at over 2% CAGR up to 2026, on account of the escalating demand for non-toxic solutions and superior quality chemical ingredients.
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The biocides market, based on the product, is segmented into halogen compounds, metallic compounds, organosulfur, organic acids, nitrogen, and others. The nitrogen segment is expected to experience substantial growth in the upcoming years. Surging demand for high-quality chemical ingredients in general manufacturing and paints & coatings will propel biocide products’ market share to a large extent.
The biocides market share from other products will account for nearly US$1.5 billion by 2026. Rising inclination towards sustainable products and growing concerns pertaining to brand image and equity would augment industry growth trends.
The global market is consolidated, and key players include in the biocides industry are AkzoNobel, Lonza, BASF, Solvay, Sigma – Aldrich, Dow Chemical Company, DuPont, Lanxess, GE Water and Process Technologies, Lubrizol, Baker Hughes Incorporated, Thor Group Limited, Troy Corporation, Clariant AG, and Buckman Laboratories International.
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