Ocean View, Delaware, June 28, 2017 (GLOBE NEWSWIRE) —
Global Biocides Market is estimated to reach USD 12 billion by 2022; according to a new research report by Global Market Insights, Inc. Rising application scope in paints & paper, wood preservation and water treatment industries will boost global biocides market growth. Key properties exhibited by these products such as controlling effects on harmful organisms along with lesser environmental impacts compared to other alternatives should stimulate industry demand.
Evolution of waste water treatment system and with rising water consumption has led to increase in demand for specialized chemicals. Growing health awareness especially related to pathogens and bacterial growth in water will positively influence the overall biocides market size and demand. Halogenated compound based biocides are expected to witness growth over 4.5% CAGR by 2022. This can be attributed to increased demand from industrial waste water treatment systems.
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Government regulation regarding authorization of biocidal products before sale, may affect product market price movement during the forecast timeframe. In U.S., biocides are controlled under the Federal Insecticide Fungicide, and Rodenticide Act (FIFRA). These aims to provide central control over distribution, sale and use of all biocides.
Oil & gas applications are anticipated to witness the growth over 5.5% CAGR, along with worth over USD 890 million by 2022 and oil and gas production and exploration indicators providing extensive growth prospects. The Key usage of biocides, includes enhancing production rates, control corrosion and keep away functional fluids from getting spoiled. Storage zones and wells have certain bacteria that generate hydrogen sulfide which can be combustible and explosive.
Browse key industry insights spread across 130 pages with 57 market data tables & 15 figures & charts from the report Biocides Market in detail along with the table of contents:
Rapid expansion in furniture and health care industry specifically in India is expected to have a positive impact on biocides market size. APAC wood preservation market is set to grow with 5.5% CAGR by 2022. In China, industrial applications will witness CAGR up to 7% by 2022.
Brazil organosulfur market is anticipated to witness CAGR over 5.5% by 2022. These products are utilized for producing new compounds in chemical manufacturing. Mexico biocides market is anticipated to grow at over 6% CAGR by 2022, due to increased consumption in key end user market applications such as paints and coating, latex emulsions.
Personal care applications will drive the global biocides market growth with CAGR over 5% by 2022. Increasing application scope in personal care industry will drive the demand in APAC region. They are used to prevent bacterial and fungal growth which leads to enhanced life of personal care products.
Usage of biocides for pest controlling particularly in Thailand and India will act as market drivers. India pest control industry is anticipated to witness double digit CAGR during the forecast time frame. Food & beverage applications during food processing and storage are anticipated to dominate the biocides market demand.
In Germany, the biocides market size from HVAC applications are expected to growth over 4.5% CAGR by 2022. Japan biocides market size will witness CAGR over 5.5% by 2022 due to increase in the consumption of the product in personal care sector.
Due to regulatory context for implementing industrial water treatment standards is expected to have positive impact on demand. Water treatment applications are anticipated to continue to dominate biocide demand and estimated to witness CAGR over 6% by 2022. Some of the players include Akzo Nobel NV, Dow Chemicals, BASF SE, Ashland, CECA, KMG Chemicals, Ecolab, and Champion Technologies.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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