Biocides Market - Demand and Sales Forecasts, Market Share, Market Size, Market Leaders

The biocides market is expected to witness a remunerative growth trend over the projected time period owing to the rising application scope in industries such as oil & gas, HVAC, fuels, and wood preservation among others. Biocides are products that act against bacteria and pests, impeding their growth. These are useful for numerous purposes such as helping control urban pests like dust mites, and mold. It effectively helps people maintain hygiene across home, public places like hospitals, and commercial establishments like shopping malls.

Biocides formulation are prominently used in cleaning products that are used to clean domestic bathrooms and kitchens. These products are increasingly used to keeps disease-spreading microbes from propagating. In addition, they are also used in antifouling coatings, which are used control the unwanted growth of marine organisms on ship hulls, which further helps lower the level of carbon footprints of these modes of transportation, fostering industry growth.

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The biocide market is segmented in terms of application, product, and regional landscape.

With respect to application, the biocide market is classified into fuels, oil & gas, boilers, HVAC, paints & coatings, wood preservation, personal care, food & beverage, water treatment, and others. Rising safety concerns and stringent regulations on workplace safety is likely to boost HVAC product demand.

A majority of duct cleaning services use chemical biocides to effectively kill contaminants like fungi and bacteria. They apply biocide to the interior of the ducts to inhibit microbial growth. This is known to be an extremely effective way of killing mold, viruses, bacteria, and fungi.

The market share from others will grow at a CAGR of over 2% over the forecast time period owing to increasing demand for high quality chemical ingredients and non-toxic solutions.

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Based on product, the biocide market is categorized into nitrogen, organic acids, organosulfur, metallic compounds, halogen compounds, and others. Among these, the nitrogen segment will witness immense growth over the coming years. Increasing demand for high performance ingredients in paints & coatings, and general manufacturing is likely to augment market share of biocide products.

The market share from others will exceed a valuation of approximately $1.5 billion by the end of the analysis time period owing to rapid shift towards sustainability trends and increasing concerns regarding brand image & equity.

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