The global biocides market has been forecast to increase at a compound annual growth rate (CAGR) of 4.32% through to 2016, driven by the global rise in the consumption of water, and the emergence of eco-friendly biocides.
Biocides are widely employed in water treatment, wood preservation, paints and coatings, food and beverage, and personal care industry. These rapidly growing industrial markets for biocides are expected to boost demand within the market.
Due to rise in global water consumption and the need for clean and potable water for drinking and other household activities, the demand for biocidal chemicals used in the treatment of water has significantly increased.
Biocides are chemical agents like herbicides or pesticides that are capable of destroying living organisms. Biocides are used as additives in polymers to destroy fungi, bacteria, and marine organism.
Use of biocides in rubbers and plastics helps to reduce the cost and cleaning efforts. Biocides are widely used in various industries like water treatment, hospitals, home care, food processing and others.
Eco-friendly biocides are those which break down over time to non-polluting constituents with no potential accumulation in the environment. Strict environmental regulations and the rise in societal awareness about sustainability have led the biocide producers to invest in the R&D of biodegradable, non-toxic, and eco-friendly biocides.
In the future, the emergence of safer, natural, and eco-friendly technologies and breakthroughs in new applications will promote the rapid growth and expansion of the global biocides market.
A major challenge currently facing the market is the stringent environmental regulations in regulated markets, especially in Western Europe and North America.
This regulatory pressure is a major challenge for the global biocides market and has led to a decrease in the availability of many effective biocides due to the banning of certain toxic ingredients in them.
Key players currently dominating the global biocides market include Akzo Nobel N.V., Ashland Inc., BASF SE, Lonza Group AG, and The DOW Chemical Company.
For more information on the global biocides market, see the latest research: Biocides Market Research
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