Biocides Market is Projected to Reach USD 10.6 Billion by 2020

Date: 2015-09-07

“Biocides are substances used to kill or inhibit all life forms when introduced in sufficient concentration and duration. Biocides are mostly used to kill harmful organisms and control bacterial or fungal growth. The biocides market is projected to register a CAGR of 4.8% between 2015 and 2020 to reach USD 10.6 billion, by 2020.

Water treatment segment is estimated to be the largest application of the biocides market. Biocides segment is projected to grow at the highest rate in global biocides market between 2015 and 2020. The rising need for treated water from municipal and industrial applications is boosting the demand for biocides in water treatment segment. Furthermore, the demand for biocides is boosted by the increasing need from food & beverage segment. The rising need for preservatives from the food segment is driving the market for biocides. The rising construction industry drives the market for paints & coatings and wood preservation, which are the application areas of biocides. 

Region-wise, North America is leading the biocides market. Growth in Asia-Pacific is led by the rising demand from food & beverage, water treatment and paints & coatings applications. The increased need for preservatives in food & beverage coupled with the need for treated water acts as a driver for the biocides market in the region. Additionally, the reviving construction industry in North America paves the way for the growth of biocides.

However, Asia-Pacific is the fastest-growing market for biocides. The rising demand from the end-user industry is driving the market for biocides in the region.

The biocides market is projected to register strong growth rate between 2015 and 2020. The company profiled in this report includes BASF SE (Germany), Akzonobel N.V. (The Netherlands), Clariant AG (Switzerland), The Dow Chemical Company (U.S.), among others.

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