Biocides Market Size, Share & Industry Analysis, By Type (Halogen Compounds, Quaternary Ammonium Compounds, Metallic Compounds, Phenolic, Organic Acids, Organosulfur, and Others), By Application (Water Treatment, Food and Personal Care Products, Cleaning Products, Furniture and Furnishings, Clothing and Textiles, Leather and Suede, Paints and Coatings, Fuel Preservatives, and Others), and Regional Forecast, 2024-2032

The global biocides market size was USD 7.99 billion in 2023 and is projected to grow from USD 8.34 billion in 2024 to USD 11.70 billion by 2032 at a CAGR of 4.2% during the forecast period. Asia Pacific dominated the biocides market with a market share of 32.92% in 2023. Moreover, the biocides market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 2.56 billion by 2032, driven by the rising use of water-based paints over oil-based paints, as a result surges the product adoption.

Biocides are chemical substances that are used to disinfect, destroy, and prevent microorganisms such as fungi, bacteria, and viruses. This product is usually combined with other products for various applications in consumer goods, paints & coatings, and water treatment industries. They can be categorized into natural biocide & synthetic biocide based on their source of raw material.  Rising consumer awareness regarding cleanliness and self-hygiene is a factor increasing the product demand. Moreover, the sensitivity of people to allergies and dust is also creating biocides market opportunities. The growth in the market can also be attributed to investments of manufacturers from developed and developing nations such as China, India, Brazil, and the US in research & development, product expansion, enhancing performance for application increase. Moreover, several industries' adoption of this product type due to effective properties and comparatively low costs has surged the demand.

However, the global outbreak of coronavirus has impacted various end-users across the market, including paints & coatings, food & beverages, textiles, and wood. The product has major applications in paints & coatings, which further is used for construction, and automotive industries. The global lockdown has led to a shutdown in the manufacturing of the above sectors. This has caused a decline in demand for the product and disruption in the supply chain, and stoppage in exports of paints and automobile sales, thus severely affecting the biocides market growth.

Biocides Market Trends

Growing Product Demand in Medical Industry to Create Growth Opportunities

The growth in the medical industry as a response to rising consumer awareness for health and hygiene is generating opportunities in the market. This, along with economic development, is supporting manufacturers to adopt advanced technologies in creating solutions for the medical industry. Biocides are chemicals added to disinfectants and cleaners used in hospitals and clinics to maintain hygiene and sterilization. They are used for cleaning surgical instruments, tools, surfaces, and fixtures. The rise in demand can be attributed to the effective properties of this product to prevent microorganism growth. Moreover, the product also finds applications in the food & beverage, leather, and wood industries as preservatives. Rising demand for these products is further driving this market.

Biocides Market Growth Factors

Increasing Demand from Paints & Coatings Industry to Aid Market Growth

Growth in the paints & coatings industry is a prominent factor driving the market. In this industry, the product is used to shield the surface painted on from microbial contamination such as fungal or bacterial growth due to air pollution and exposure to the outer environment. The surfaces include walls of building & infrastructure, the exterior of automobiles, and consumer goods. Furthermore, the rising use of water-based paints over oil-based paints has increased demand for these products. This product is added to the set with a formulator over the painted surface once the paint is dried off. Moreover, rising applications in the automotive industry to protect the exterior and interior parts of automobiles such as body, handles, brakes, and auto parts are further driving the market growth.

Rising Biocides Demand in Water Treatment Owing to Its Properties to Boost Market Growth

In water treatment, biocides are crucial agents employed to control microbial growth and ensure water quality and safety. Biocides, such as chlorine, ozone, and UV radiation, are utilized in various concentrations to eliminate or inhibit the growth of bacteria, viruses, algae, and other microorganisms present in water sources. Their effectiveness is influenced by several growth factors, including temperature, pH, nutrient levels, and organic matter concentration, which can affect microbial populations and their susceptibility to biocidal treatments. Such growth factors are essential for optimizing biocide usage and designing efficient water treatment processes. Also, by carefully managing biocide concentrations in response to fluctuating growth factor conditions, water treatment facilities can maintain effective microbial control while minimizing potential adverse effects on water quality and the environment.

RESTRAINING FACTORS

Rising Raw Material Prices to Affect Market

Biocides are made up of various chemicals such as ammonium compounds, halogens, iodine, and phenols. The rising prices of these chemicals are creating challenges for market growth. Moreover, restrictions over the import and export of certain chemicals from governments of several countries is expected to reduce production, thus restricting the market growth. These regulations are taken to curb the harmful effect of these chemicals on the human body and health and also to protect and prevent the spread of water pollution as these chemicals are released into water bodies. For example, Labeling and Packaging Regulation, REACH, Classification, and the Biocidal Product Regulation were introduced for ensuring the utmost level of protection possible to the environment and human health.

Biocides Market Segmentation Analysis

By Type Analysis

Halogen Compounds Segment is Expected to Have Highest Growth

Based on type, the market is segmented into halogen compounds, quaternary ammonium compounds, metallic compounds, phenolic, organic acids, organosulfur, and others.

Halogen compounds include chemicals such as chlorine and iodine, used for application areas like in water treatments for swimming pools, water treatment plants, and usable household water. Moreover, chlorine based chemical compounds such as sodium hypochlorite are used for preservation in the food & beverage industry. The rising adoption of halogen compounds in various industrial applications is giving an affirmative outlook for market growth.

Quaternary ammonium compounds such as benzalkonium chloride and benzethonium chloride are combined with surfactants in surface cleaners, disinfectants, shampoo, personal care products, detergents & fabric softeners. These chemicals have properties to inhibit microbial growth without being harmful to the human body. This, along with rising demand for consumer goods, is supporting the segment growth.

Organosulfur are chlorine-free compounds making them ideal for non-corrosive application. These compounds are used for application in automobiles, household goods, air-conditioning, and engineered goods. High demand from these applications is a key factor driving the market.

By Application Analysis

Paints & Coatings Segment is Expected to Have a Significant CAGR

Based on applications, the market is categorized into water treatment, food and personal care products, cleaning products, furniture and furnishings, clothing and textiles, leather and suede, paints and coatings, fuel preservatives, and others.

Paints & coatings accounted for the largest biocides market share in 2023, which can be attributed to high demand from the construction industry. Biocide chemicals are added to water-based paints during the manufacturing process to inhibit the growth of airborne microbes and fungal development on the surface applied. This helps in the prevention of diseases and infection through air or touch. The growing consumer lifestyle and awareness regarding oneself is resulting in high consumption of products.

The water treatment segment is anticipated to have substantial market growth which can be attributed to its usage in drinking water purification, and in the pulp & paper industry. The product prevents algae formation, bacterial and fungal growth in swimming pools and cooling systems. Moreover, segments such as food & personal care and cleaning products are also expected to have rapid growth which can be associated with the high consumption of packaged food, improved hygiene, and health awareness. The busy work lifestyle of consumers has led to a shift towards packaged food while also maintaining good health.

REGIONAL INSIGHTS

The market size in Asia Pacific stood at USD 2.63 billion in 2023. Asia Pacific is expected to generate the highest value in the global market during the forecast period. This growth can be attributed to the rising construction activities due to demand from the ever-growing population in the region. Developing economies such as China, Japan, and India are further adopting advanced technologies for better product development in the paints & coatings industry. Moreover, water treatment and cleaning products are expected to have increased consumption due to demand for industrial and consumer applications. China is the major consumer for all the products as it has a large population to feed and house while also maintaining the environment clean for people.

North America is expected to show gradual growth during the estimated period. Rapid technological advancement and innovation due to development in the economy of countries in the region is driving the market. The U.S. is the major market for this product and has high demand for paints & coatings along with wood preservation. Wood is used for the construction, furniture, and household utensils sector, thus creating opportunities for product consumption. Moreover, the shift towards bio-based and natural biocides is further expected to contribute to market growth.

Europe is a leading region producing and exporting automobiles responsible for economic growth in the region. The growing production of automobiles is in turn, leading to high consumption of the product. Furthermore, a growth in HVAC and textile industries is also a major driver that will boost the market in the region.

In Latin America, Brazil and Mexico are key countries supporting the market growth. The growth can be associated with high demand for the product from the furniture, automotive, and construction industries. The compounds are used in wood preservation and paints & coatings manufacturing to provide longer shelf life without any microbial development.

The Middle East & Africa are major petroleum and crude oil-producing region. The countries within the region have a high economic growth rate. The product is used for fuel preservation and coating of surfaces. The increasing demand from industrial and construction applications results in product consumption in the region, which will favor the growth in the forthcoming years.

List of Key Companies in Biocides Market

Extensive Product Portfolio of Major Companies to Strengthen Their Positions

The key players in the market are Vink Chemicals GmbH & Co. KG and Thor Group Limited. Vink Chemicals GmbH & Co. KG is one of the leading producers of economically friendly biocides and offers a wide product portfolio that includes chemical compounds for the paint & coatings industry. Moreover, on the other hand, Thor Group Limited provides products for many industrial and consumer goods applications. The key manufacturers in the market are using strategies such as improving brand reputation, expanding regional presence, and introducing new product offerings to create a competitive advantage in the market. Companies are also investing in technological advancement to enhance their product portfolio.

LIST OF KEY COMPANIES PROFILED

• Vink Chemicals GmbH & Co. KG (Germany)


• Clariant (Switzerland)


• Kemira Oyj (Finland)


• Troy Corporation (U.S.)


• Thor Group Limited (UK)


• Lanxess AG (Germany)


• Solvay SA (Belgium)


• Neogen Corporation (UK)


• Finoric LLC (U.S.)


• Shanghai Zhongxin Yuxiang Chemical Co., Ltd (China)


• Shandong IRO Biocide Chemicals Co., Ltd. (China)


• Albemarle Corporation (U.S.)


• Lonza Group Ltd (Switzerland)


• Wuxi Honor Shine Chemical Co. Ltd. (China)

KEY INDUSTRY DEVELOPMENTS

• December 2019 – LANXESS acquired a Brazilian biocide manufacturer, Itibanyl Produtos Especiais Ltda. (IPEL). The acquisition is helping the company in the material protection products business unit and reinforcing global presence while also serving South American consumers from a domestic production facility.

REPORT COVERAGE

The global biocides market report provides a detailed analysis of the market and focuses on crucial aspects such as leading companies, applications, and types. Also, the report offers insights into market trends and highlights vital industry developments. In addition to the factors mentioned above, the report encompasses various factors that have contributed to the growth of the market over recent years.

Report Scope & Segmentation