The biocides market is poised for substantial growth, projected to achieve a steady Compound Annual Growth Rate (CAGR) of 3.4% from 2023 to 2033. With a projected revenue of US$ 12.5 billion by 2033, witnessing a notable increase from the current US$ 8.9 billion in 2023, the market is expected to experience significant expansion. Factors driving this growth may include increased demand for biocides across various industries, emphasizing the crucial role these chemicals play in maintaining hygiene and preventing the proliferation of harmful microorganisms.
A wider range of applications as a preservative and germ-controlling agent is propelling the growth of the biocides market. Furthermore, advanced pharmaceutical companies are implementing biocides to shelf their medicines for longer usage.
In expanding packaged food industry, look for an affordable preservation option provided through biocides. Restoration of the FMCG sector has also ended up thriving the growth of the biocides market.
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Emerging economies such as India and China are building their medical and pharmaceutical industry. Even India has been recognized as the “pharmacy of the world” as it fuels the manufacturing and production of drugs, flourishing the sales of biocides solutions.
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
By Region:
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
About Future Market Insights (FMI)
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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