Anthony Locicero, Associate Editor12.03.18
Biocides are protective substances used to inhibit the growth of bacteria and other pernicious organisms, including fungi.
The global biocide market could reach $11.9 billion by 2022 – up from $7.9 billion in 2014 – according to Radiant Insights, Inc.
MarketsandMarkets forecasts the market reaching $10.6 billion by 2020.
The demand is likely to be driven by growth in water treatment process units in areas such as China, Japan and India, per Radiant Insights. Growth may also be driven by a growing demand for paints and coatings, which Radiant Insights said is owed to growing infrastructure spending.
“Growth in markets such as Asia, India, the Middle East and Africa have contributed to an increase in demand for biocides in recent years,” said Geoff Clay, senior marketing and communications analyst, Troy Corporation.
The construction industry offers the maximum market potential in the global biocides market, owing to rapid urbanization and favorable macroeconomic factors, according to Allied Market Research, which also cited an increased need for water treatment in various sectors such a
The global biocide market could reach $11.9 billion by 2022 – up from $7.9 billion in 2014 – according to Radiant Insights, Inc.
MarketsandMarkets forecasts the market reaching $10.6 billion by 2020.
The demand is likely to be driven by growth in water treatment process units in areas such as China, Japan and India, per Radiant Insights. Growth may also be driven by a growing demand for paints and coatings, which Radiant Insights said is owed to growing infrastructure spending.
“Growth in markets such as Asia, India, the Middle East and Africa have contributed to an increase in demand for biocides in recent years,” said Geoff Clay, senior marketing and communications analyst, Troy Corporation.
The construction industry offers the maximum market potential in the global biocides market, owing to rapid urbanization and favorable macroeconomic factors, according to Allied Market Research, which also cited an increased need for water treatment in various sectors such a
Continue reading this story and get 24/7 access to Coatings World for FREE
FREE SUBSCRIPTION
