Biocides Market Trends: Analyzing Growth Opportunities for 2024

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Biocides Market Size, Share & Trends Analysis Report By Type (Non-oxidizing Biocide, Oxidizing Biocide), Application (Water Treatment, Household, Industrial & Institutional Cleaning and Home Care, Paints & Coatings, Wood Preservatives)- Market Outlook And Industry Analysis 2031"
The global Biocides market is estimated to reach over USD 16.58 billion by 2031, exhibiting a CAGR of 4.68% during the forecast period.

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Chemicals known as biocides can kill or deter dangerous organisms through chemical or biological methods. To reduce the negative impact of germs on human health, it is employed as a preservative, disinfectant, insecticide, oxidizing agent, and pesticide. It is mostly utilized in the treatment of public and industrial water. These applications are driving the growth of the biocides market.

Biocides can harm the environment, and regulations are being introduced to limit their use and disposal. Due to its preservation abilities and characteristics as an antimicrobial agent, the expanding beauty industry heavily consumes the biocide market. High-quality skin care product production is also a part of this. The revival of the food business, which serves as a significant preservative, has once more created a link between the market and the FMCG industry and is anticipated to increase demand in the future. As biocides are utilized in water treatment together with chlorine to eliminate all germs and bacteria, rising water pollution also contributes to market growth. This is a challenge for the biocide industry as they must develop more environmentally friendly alternatives.

Additionally, microorganisms can develop resistance to biocides, making them less effective over time. This creates a challenge for the biocide industry as they must continually develop new biocides to stay ahead of resistant strains.
List of Prominent Players in the Biocides market:
• Lanxess AG
• Veolia Group
• Araxda AG
• Ecolab Inc.
• Nouryon
• General Electric Company
• Evonik Industries AG
• Solvay S.A.
• Clariant AG
• Italmatch Chemicals S.P.A.
• Solenis & Sigura Water
• Kemira Oyj
• Stepan Company
• Danaher Corporation
• Albemarle corporation
• F.M.C. Corporation
• I.C.L. Group
• Chevron Corporation
• C.E.S. Energy Solution CORP
• Arkema SA
• The Lubrizol Corporation
• Thor Group Limited
• Chemicrea Inc
• Merck KGAA
• Accepta Water Treatment.

Market Dynamics:
Drivers-
The prime factor contributing to the market's growth is the use of biocides in manufacturing soaps, cleansing conditioners, and face wash as preservatives and antimicrobial agents. Consumers' preferences rapidly shift towards high-quality ingredients with sanitizing and cleansing features to protect themselves from any skin infection. Other factors, such as the adoption of high-quality biocide solutions by cosmetic industry players in manufacturing cosmetic products, are attributed to the growing industry competition. Rapid growth in the number of engaged manufacturers in developing new products is expected to fuel the market growth during the forecast period.

Challenges:
It is further anticipated that the environmental laws on harmful biocides will impede the expansion of the biocides market over the targeted time. Fluctuations may further hamper the future expansion of the market for biocides in the price of raw materials. This biocides market report provides information on recent developments, trade laws, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market participants, and analyses opportunities in terms of emerging revenue pockets, changes in market laws, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic experience.

Regional Trends:
The North America Biocides market is expected to register a major market share in revenue and is projected to grow at a high CAGR shortly. Additionally, it is projected that increased research and development efforts among producers, formulators, and end users will further fuel the expansion of the regional biocides market in the ensuing years. Because water treatment is considered the second-largest product consumer, Asia-Pacific dominates the biocides industry after cleaning products. During the projected period, the region's biocides market will also rise due to rising cleaning product usage, which is greatly aided by increased disinfectant production.

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Recent Developments:
• In January 2022, Veolia Group purchased Seuz, a water and waste management company. Veolia Group can boost its revenue growth and biocides market expansion thanks to this acquisition.
• In January 2021, LANXESS acquired the French company Intace S.A.S. as part of its expansion to keep its position as one of the leading producers of biocide. French company Intace S.A.S. specializes in developing and applying fungicides and biocides for the packaging sector.

Segmentation of Biocides market-
By Type-
• 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 Homecare
o Paints & Coatings
o Wood Preservatives
o 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 the Middle East and Africa

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This release was published on openPR.