Global Biocides Market Analysis, Leading Players, Growth and Future Scope

The global biocides market is further projected to advance at a 4.4% CAGR during the forecast period by P&S Intelligence.
By: P&S Intelligence
 
NEW YORK - April 20, 2021 - PRLog -- Biocides refer to microorganisms or chemical substances that intend to deter, render harmless, destroy, or exert a controlling effect on any harmful organism by biological or chemical means. These compounds can act as pesticides, disinfectants, or preservatives for several end-use applications. As the excessive usage of this chemical can be harmful to humans, the biocidal products are regulated under the Biocidal Products Directive of the European Union (EU). Under the 98/8/EC directive of the EU, such products are classified into 22 types, based on their applications.

Owing to the disinfectant property of biocides, these are widely used to treat water and are also applied in the production, storage, and transportation of water. These compounds can act as disinfectants and anti-fouling agents for impeding the growth of harmful organisms like protozoans, viruses, and bacteria. Thus, biocidal products are being increasingly used in Indonesia, China, the U.S., and India, to meet the high requirement for portable water. Therefore, the biocides market will grow at 4.4% CAGR during 2019–2024, to reach 1,376.6 kilotons by 2024 from 1,062.3 kilotons in 2018.

According to P&S Intelligence, the Asia-Pacific biocides market (https://www.psmarketresearch.com/market-analysis/biocides...) will exhibit the fastest growth in the foreseeable future. This can be ascribed to the high-volume application of biocides in water treatment plants of India, China, and other southeast Asian countries. The increasing demand for treated water for industrial and residential applications from these nations will amplify the adoption of the chemical in the coming years. The industrial capacity of these nations is surging at a notable rate, which, in turn, is propelling the utilization of biocidal products in the region.

Thus, the burgeoning consumption of consumer goods and the escalating requirement for portable water will propel the adoption of biocides in several end-use industries.

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