The global biocides market revenue is expected to expand at a lucrative CAGR over the forecast period. Growing demand for biocides from end-use industries such as water treatment, personal care, and paints & coating is expected to drive market growth over the forecast period.
The global biocides market report has been segmented on the basis of product, application, and region.
On the basis of application, the global biocides market has been segmented into halogen compounds, organosulfur, organic acids, metallic compounds, phenolic, and others (nitrogen, sulfones, and inorganic biocides). The metallic compounds segment is expected to witness steady growth over the forecast period. These type of biocides are used as disinfectants in cooling towers and water treatment plants.
On the basis of the end-user, the global biocides market has been segmented into water treatment, food & beverages, personal care, wood preservation, paints & coating, and others (boilers, oil & gas, and pharmaceuticals). Personal care segment is expected to witness higher growth rate over the forecast period. Growing demand for liquid soap, shampoo, moisturizing cream, and shower gel is anticipated to propel segment growth over the forecast period.
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On the basis of region, the global biocides market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific market is expected to grow at a rapid pace over the forecast period. Growing investments in water purification region owing to rising population is expected to drive Asia Pacific biocide market. Moreover, growing construction activities in the region are estimated to boost paints and coating industry, and in turn is expected to drive Asia Pacific biocide market.
Key players operating in the global biocides market include AkzoNobel N.V., Troy Corporation, Akcros Chemicals Ltd., Melzer Chemicals Pvt. Ltd., The Dow Chemical Company, BASF SE, Thor Group Limited, Clariant Corporation, Lanxess AG, and Lonza Group Ltd.