The global market for biocides was estimated to be USD 7,308.0 million in 2012, and is expected to grow at a CAGR of 5% from 2014 to 2020.
San Francisco, California (PRWEB) May 28, 2014
The global market for biocides is expected to reach USD 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% 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% from 2014 to 2020.
The report “Biocides Market Analysis And Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/biocides-industry.
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Further Key findings from the study suggest:
- The global market for biocides was estimated to be USD 7,308.0 million in 2012, and is expected to grow at a CAGR of 5% from 2014 to 2020.
- North America is expected to continue its dominance in the global market and is expected to account for over 40% 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% from 2014 to 2020.
- Water treatment applications are expected to continue to dominate biocide demand, and are estimated to account for over 24% of global revenue by 2020. Regulatory framework for enforcing industrial water treatment standards is expected to have a positive impact on the market. Water treatment is also expected to be the fastest growing application market for biocides at an estimated CAGR of 6.2% from 2014 to 2020.
- The global market for biocides is moderately concentrated with top four participants, including Arch Chemical, ISP, Dow Microbial Control and Troy Corporation, accounting for over 55% of the total demand in 2013. Some of the other significant market participants for biocides include Thor Specialties, DuPont, Lanxess, Akzo Nobel and BASF.
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For the purpose of this study, Grand View Research has segmented the global biocide market on the basis of product, application and region:
- Biocides Product Outlook (Revenue, USD Million, 2012 - 2020)
• Halogen Compound
• Metallic Compounds
• Organic acids
- Biocides Application Outlook (Revenue, USD Million, 2012 - 2020)
• Water Treatment
• Food and Beverage
• Personal Care
• Wood Preservation
• Paints and Coatings
- Biocides Regional Outlook (Revenue, USD Million, 2012 - 2020)
• North America
• Asia Pacific
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About Grand View Research
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