Biocides Market Preserving Products, Protecting Consumers: Biocides in the Consumer Goods Industry

Biocides Market will reach over USD 16.83 Bn by the year 2031 - Exclusive Report by InsightAce Analytics.

"Biocides Market" in terms of revenue was estimated to be worth $11.57 billion in 2023 and is poised to reach $16.83 billion by 2031, growing at a CAGR of 4.91% from 2024 to 2031, according to a new report by InsightAce Analytic.

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Biocides Market: Drivers, Opportunities, and Restraints
The global biocides market is experiencing growth driven by several key factors:
• Rising Health and Hygiene Awareness: Consumers are increasingly aware of the importance of cleanliness and disinfection, leading to a higher demand for biocides in household cleaning products, personal care items, and sanitizers.
• Expanding into Emerging Markets: Developing countries are experiencing rapid urbanization and economic growth, leading to a rise in healthcare facilities, food production, and water treatment needs, all of which rely on biocides.

• Growth of the Water Treatment Sector: The increasing demand for clean water necessitates effective water treatment solutions. Biocides play a crucial role in eliminating harmful microorganisms from water supplies.

However, the biocides market also faces some challenges:
• High R&D Costs and Stringent Regulations: Developing new, safe, and effective biocides is an expensive process. Additionally, stricter environmental regulations regarding biocide use and disposal can limit market growth.
• Volatile Raw Material Prices: The cost of raw materials used in biocide production can fluctuate, impacting manufacturers' profitability.

Despite these restraints, future opportunities are expected to propel the market forward:
• Demand for Antimicrobial Products: The growing healthcare sector and rising concerns about infectious diseases will drive the demand for antimicrobial products, a key application of biocides.

• Emphasis on Antifouling Coatings: Biocides used in antifouling coatings prevent the growth of organisms on ships and marine structures, improving fuel efficiency and reducing maintenance costs. The rising demand for maritime transportation will increase the use of antifouling coatings.

• Heightened Food Safety Concerns: Consumers are increasingly concerned about food safety, leading to a greater focus on using biocides for food preservation and preventing microbial contamination in agriculture and food processing.

Market Examination: Biocides in Healthcare
The need for biocides in the healthcare sector is particularly strong due to the following factors:
• Expansion of Healthcare Facilities: The growing number of hospitals, clinics, and other healthcare institutions necessitates the use of biocides to maintain sterile environments and prevent the spread of infections.

• Requirement for Sterile Environments: Biocides are essential for disinfecting surfaces, fixtures, instruments, and surgical equipment in healthcare settings to ensure hygiene and prevent the spread of disease.

• Efficacy in Preventing Microbial Growth: Biocides offer a reliable way to inhibit the growth of harmful microorganisms, promoting better infection control practices.

Beyond healthcare, biocides are also used in various industries, including leather, wood, and food & beverage, further contributing to market expansion.

List of Prominent Players in the Biocides Market:
• Lanxess AG
• Nouryon
• General Electric Company
• Evonik Industries AG
• Veolia Group
• Araxda AG
• Ecolab Inc.
• Solvay S.A.
• Clariant AG
• Solenis & Sigura Water
• Kemira Oyj
• Italmatch Chemicals S.P.A.
• Stepan Company
• Danaher Corporation
• Albemarle corporation
• M.C. Corporation
• C.L. Group
• Chevron Corporation
• E.S. Energy Solution CORP
• Arkema SA
• The Lubrizol Corporation
• Thor Group Limited
• Chemicrea Inc
• Merck KGAA
• Accepta Water Treatment

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Recent Developments:
• In October 2023, Sun Chemical, a wholly-owned subsidiary of D.I.C. Corporation, introduced a line of biocide-free Xfast® dry stir-in colorants. Xfast products, known for their high purity and exceptional quality, have already established a standard for eco-label-compliant paints. The new biocide-free Xfast product range, designed for waterborne systems in eco-label proof coatings, takes the dry stir-in colorant class to the next level.

• In September 2023, F.M.C. launched its latest product, ENTAZIA™, in India. This biocide contains Bacillus subtilis, which helps crops resist illness without harming the environment. This biological product employs natural Bacillus subtilis to form a strong line of defense that improves the plant's beneficial microbiota, its ability to withstand stress, and its general growth and vitality. ENTAZIA™ can be used alongside biostimulants and chemical fungicides for integrated pest management, providing additional advantages to crops.

• In August 2022, Veolia Water Technologies and Bridgnorth Aluminium formed a long-term relationship in which Veolia Water provided water treatment procedures and compliance services at the specialist's Shropshire production location. Veolia Water Technologies manages the chemical supply and Legionella compliance for its cooling towers and process water treatment systems.

Biocides Market Dynamics:
Market Drivers: Expansion in Emerging Markets
The growth of the paints and coatings sector is a major driver driving the market. In this industry, the product is utilized to protect the painted surface from microbiological contamination caused by air pollution and external exposure. Surfaces include architectural and infrastructural walls, automotive exteriors, and consumer items.

Furthermore, the growing popularity of water-based paints over oil-based paints has boosted demand for these goods. After the paint has dried, this product is applied to the set using a formulator over the painted surface. Furthermore, increasing applications in the automotive industry to protect the external and interior parts of automobiles, such as the body, handles, brakes, and auto parts, are boosting the market.

Challenges: Volatility in Raw Material Prices
Biocides are composed of many substances, including ammonium compounds, halogens, iodine, and phenols. The escalating prices of these compounds pose barriers to market growth. Furthermore, limits on the import and export of certain chemicals by governments in numerous countries are projected to curb production, limiting market development.

These laws are in place to reduce the detrimental effects of these chemicals on the human body and health, as well as to protect and prevent the rise of water pollution when these chemicals are released into bodies of water. For example, the Labelling and Packaging Regulation, REACH, Classification, and Biocidal Product Regulation were enacted to ensure the environmental and human health protection.

Asia Pacific Is Expected To Grow With The Highest CAGR During The Forecast Period
Asia Pacific Biocides Market is likely to register a significant revenue share and develop at a rapid CAGR in the near future. This expansion can be ascribed to increased construction activity in response to demand from the region's ever-growing population.

Developing economies such as China, Japan, and India are increasingly adopting new technology to improve product development in the paint and coatings business. Furthermore, water treatment and cleaning solutions are likely to see growing demand due to industrial and consumer uses. China is the leading consumer of all items since it has a vast population to feed and house while also keeping the environment clean for people.

Segmentation of Biocides Market-
By Product-
• Oxidizing Biocide
• Non-Oxidizing Biocide
• Others

By Application-
• Water Treatment
o Municipal Water Treatment
o Oil & Gas
o Power Plants
o Pulp & Paper
o Swimming pools
o Mining
o Other Water Treatment

• Household, Industrial & Institutional Cleaning and Home Care
• Paints & Coatings
• Wood Preservatives
• Others

By Region-
North America-
• The US
• Canada
• Mexico

Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific

Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-

• G.C.C. Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.