Biocides Industry Size, Share, Demand & Growth by 2033
The biocides industry is anticipated to thrive at an average CAGR of 3.4% between 2023 and 2033. The market is anticipated to surpass US$ 12.5 Billion by 2033, while it holds a revenue of US$ 8.9 Billion in 2023.
A wider range of applications as a preservative and
germ-controlling agent is propelling the growth of the biocides market.
Furthermore, advanced pharmaceutical companies are implementing biocides to
shelf their medicines for longer usage.
In expanding packaged food industry, look for an
affordable preservation option provided through biocides. Restoration of the
FMCG sector has also ended up thriving the growth of the biocides market.
Emerging economies such as India and China are
building their medical and pharmaceutical industry. Even India has been
recognized as the “pharmacy of the world” as it fuels the manufacturing and
production of drugs, flourishing the sales of biocides solutions.
The use of phenolics biocides in different surgical
procedures has also been highlighted recently and is likely to thrive the
demand for biocides.
Its use in botanical experiments to eliminate
microorganisms and plants helps research and development programs. Thus, the
future of the biocides market looks promising.
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Higher food exports between nations and the
restoration of sea trade post-pandemic demand for a sustainable preservation
solution. The biocides solution fits right in the picture, preventing the food
items from getting exposed to microorganisms.
Key Pointers:
- The
Chinese market is the biggest and fastest market for preservation
technology and is anticipated to cross a value of US$ 3.0 Billion by 2033.
The regional market is expected to thrive at an average CAGR of 4.4%
between 2023 and 2033.
- The
US market thrives at the highest CAGR of 2.9% during the forecast period.
The market is likely to reach a value of US$ 2.5 Billion by 2033.
- The
halogen compound segment is expected to thrive in the product category due
to its wider application including the water treatment sector and the
paint industry. It is expected to thrive at a CAGR of 3.4% during the
forecast period.
- Industrial
grade tops the grade type segments with a CAGR of 3.3% between 2023 and
2033 while it thrived at a lower CAGR of 2.3% during the previous forecast
period.
Competitive Landscape:
The focus of key competitors try to deliver the
application-specific biocides solution. Furthermore, advanced pharmaceutical
companies have extended their research verticals as their in-house biocides
production. Key players in the market are Clariant AG, Lonza Group, ICL
Group, BASF SE, DOW, Veolia, Troy Corporation, Nouryon, Kemira Oyj, Ecolab USA
Inc, Albemarle Corporation, Solvay SA, Lanxess AG, and Buckman Laboratories
International.
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