The global market for biocides is expected to reach $10.745.7 million by 2020, according to a new study by Grand View Research, Inc. Growing population coupled with growing concerns for industrial waste water treatment is expected to drive biocide demand over the next six years. In addition, positive outlook on key application markets such as textiles, paints and coatings, primarily in Asia Pacific, Latin America and Eastern Europe, is also expected to boost the demand for biocides over the forecast period.
Halogen compounds dominated the biocide product space, accounting for over 27 percent of global market revenue in 2013. However, environmental concerns, regarding the disposal and impact of halogen-based compounds are expected to reduce market penetration for these products by 2020. Phenolic biocides are expected to be the fastest growing product segment, at an estimated CAGR of 6.9 percent from 2014 to 2020.
The global market for biocides was estimated to be $7.308.0 million in 2012, and is expected to grow at a CAGR of 5 percent from 2014 to 2020.
North America is expected to continue its dominance in the global market and is expected to account for over 40 percent of the total market by the end of 2020. Asia Pacific is expected to be the fastest growing regional market, with market revenue expected to reach USD 3,454.7 million by 2020, at a CAGR of 6.2 percent from 2014 to 2020.The global market for biocides is concentrated with top participants, including Arch Chemical, ISP, Dow Microbial Control and Troy Corporation , accounting for over 55 percent of the total demand in 2013.
Grand View Research Reports on Global Biocides Market
Published April 15, 2014
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