The biocides market is poised for steady growth, with an expected compound annual growth rate (CAGR) of 3.4% between 2023 and 2033. By 2033, it is projected to exceed a substantial US$ 12.5 billion in revenue, compared to its 2023 revenue of US$ 8.9 billion.
This growth is primarily driven by the expanding range of applications for biocides as an effective preservative and germ-controlling agent. Advanced pharmaceutical companies are increasingly turning to biocides to extend the shelf life of their products, while the packaged food industry seeks affordable preservation solutions through biocides.
The resurgence of the fast-moving consumer goods (FMCG) sector has also contributed to the flourishing biocides market, and emerging economies like India and China, with their booming medical and pharmaceutical industries, are significantly fueling the sales of biocide solutions. In fact, India’s recognition as the “pharmacy of the world” underscores its pivotal role in manufacturing and producing drugs, further boosting the demand for biocides in these markets.
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The use of phenolics biocides in different surgical procedures has also been highlighted recently and is likely to thrive the demand for biocides.
Its use in botanical experiments to eliminate microorganisms and plants helps research and development programs. Thus, the future of the biocides market looks promising.
Higher food exports between nations and the restoration of sea trade post-pandemic demand for a sustainable preservation solution. The biocides solution fits right in the picture, preventing the food items from getting exposed to microorganisms.
Key Points
- The Chinese market is the biggest and fastest market for preservation technology and is anticipated to cross a value of US$ 3.0 Bn by 2033. The regional market is expected to thrive at an average CAGR of 4.4% between 2023 and 2033.
- The US market thrives at the highest CAGR of 2.9% during the forecast period. The market is likely to reach a value of US$ 2.5 Bn by 2033.
- The halogen compound segment is expected to thrive in the product category due to its wider application including the water treatment sector and the paint industry. It is expected to thrive at a CAGR of 3.4% during the forecast period.
- Industrial grade tops the grade type segments with a CAGR of 3.3% between 2023 and 2033 while it thrived at a lower CAGR of 2.3% during the previous forecast period.
Competitive Landscape
The focus of key competitors try to deliver the application-specific biocides solution. Furthermore, advanced pharmaceutical companies have extended their research verticals as their in-house biocides production. Key players in the market are: Clariant AG, Lonza Group, ICL Group, BASF SE, DOW, Veolia, Troy Corporation, Nouryon, Kemira Oyj, Ecolab USA Inc, Albemarle Corporation, Solvay SA, Lanxess AG, and Buckman Laboratories International.
For instance:
- Clariant AG has introduced its biocides for paints and coatings named as NIPACIDE that protects the paint from microbial contamination. The major biocide products are nipacide BIT 10 W, nipacide BIT 20, and nipacide BK.
- Veolia has launched its Hydrex 7000 biocide chemicals for water treatment that eliminated slime, formation of hydrogen sulfide, corrosion and biofueling
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Key Segments
By Grade:
- Food Grade
- Pharmaceutical Grade
- Industrial/ Technical Grade
By Type:
- Halogen Compounds
- Metallic Compounds
- Organic Acids
- Organo-sulfurs
- Nitrogen
- Phenolic
- Others
By End Use:
- Agrochemicals
- Food & Beverages
- Water Treatment
- Paints & Coatings
- Cosmetics & Personal Care
- Oil & Gas
- Pulp & Paper
- Wood Preservatives
- Cleaning Agents
- Others
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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