Biocides Market Report

Market Insights

"The global biocides market size was estimated at USD 11.16 billion in 2022 and is likely to grow at a CAGR of 4.74% during 2022-2028 to reach USD 14.74 billion by 2028."

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A biocide is a microorganism or an active substance that is intended to destroy, inactivate, or exert the controlling effect on harmful microorganisms which can cause damage to natural or manufactured materials, by chemical or biological synthesis, and exhibit excellent features such as high cleansing action, nontoxic nature, and high resonance with solvents making it compatible for various end-use industries.

Market Dynamics

Market Drivers

The prime factors that are contributing to the growth of the global market are-

• The use of biocides in manufacturing soaps, cleansing conditioners, and face wash as preservatives and antimicrobial agents.
• Consumers’ preferences are rapidly shifting towards high-quality ingredients with sanitizing and cleansing features for protecting themselves from any kind of skin infection.
• Other factors such as the adoption of high-quality biocide solutions by cosmetic industry players in manufacturing cosmetic products attributed to the growing competition in the industry.
• Rapid growth in the number of engaged manufacturers in the development of new products is expected to fuel the growth of the market during the forecast period.

Segments Analysis

Product Trends

"The halogen compounds segment accounted for the largest market share."

The global biocides market is segmented into halogen compounds, metallic compounds, organosulfurs, organic acids, phenolics, nitrogen, and others. Halogen Compounds hold a market share of more than 20% of the market in 2021 and is estimated to be the major product type during the forecast period. The growth of this segment is attributed to their extensive usage in the water treatment industry owing to the growing awareness of water quality standards, as it helps in eliminating organic and synthetic impurities, fueling the product demand in the market.

Application Trends

"The paints & coatings segment accounted for the largest market share."

The market is segmented as water treatment, food & beverage, personal care, wood preservation, paints & coatings, HVAC, boilers, oil & gas, fuels, and others. Paints & coatings application is held a market share of more than 25% of the market in 2021 and is estimated to witness a significant growth rate over the forecast period. The growth of the segment is bolstered by the strict sanitary rules in the food & beverage sector. Factors such as rapid adoption of high-quality ingredients by the fast food industry players in an attempt to boost their brand image and enhance hygiene conditions for getting better ratings, growing concerns on bacterial & viral infections, and rise in demand for quick-acting and high-performance solutions, which are used in cleaning utensils made from iron, Teflon, stainless steel, and also helps in minimizing the contamination of food, are expected to fuel the growth of the market during the forecast period.

Regional Insights

"North America accounted for the largest market share."

North America held a market share of more than 30% of the market in 2021 and is estimated to witness a high growth rate in the market during the forecast period. This growth is attributed to the rapid shift towards natural gas solutions. Natural gas is the cleanest fossil fuel which is utilized in upstream & downstream operations, and also used in various stages of production, whether in extraction, transmission, or storage. Factors such as the growing applications of natural gas in automobile, electrical, manufacturing, general, and water heating applications, the attempt of industry players to capitalize on emerging trends in the market by fueling eco-friendly and sustainable methods for strengthening brand image, and growing adoption of cleaner alternatives by customers, are expected to accelerate the natural gas demand, thereby fueling the growth of the biocides market during the forecast period. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

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Key Players

The following are the key players in the biocides market (arranged alphabetically).

• AkzoNobel
• Albemarle Corporation
• Baker Hughes Incorporated
• BASF SE
• BWA Water Additives
• Lonza
• Nalco Champion
• Solvay S.A.
• The Lubrizol Corporation
• Valtris Specialty Chemicals.

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s biocides market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Option

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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