Biocides in paints, wood preservatives, oil & gas, and paper & pulp industries to boost US market growth.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, October 16, 2023 /EINPresswire.com/ -- The biocides market is anticipated to thrive at an average CAGR of 3.4% between 2023 and 2033. The market is anticipated to surpass US$ 12.5 billion by 2033, while it holds a revenue of US$ 8.9 billion in 2023.

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 Billion 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 Billion 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,
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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Biocides Market 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)

Authors by:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in the Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Have a Look at Related Reports in Chemicals & Materials Domain:

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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 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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