Sep. 24, 2013
The report ”Global Biocide Market
” shows that the global market for biocide in terms of revenue was estimated to be worth $7.2 billion in 2010 and is expected to reach $9.4 billion by 2016, growing at a CAGR of 4.3% from 2011 to 2016. North America dominated the global biocide market, accounting for 45.0% of the global biocide demand in 2010. Asia-Pacific is expected to be the fastest growing market in the near future owing to the rapid advancement and increasing demand from key countries such as China and India.
Biocides are used to control harmful organisms and control bacterial and fungal growth. Major types of biocide include halogen compounds, metallic compounds, organosulfurs, organic acids and phenolic. They are used for various applications in personal care, water treatment, wood preservation, food and beverage, paints and coatings, and others.
Biocide market is witnessing an increase in demand on account of growing demand of water and entry of environmentally friendly products. However, growth in the market is hindered by rising raw material costs and difficult and expensive registration process.
Market participants are continuously focusing on the Asia-Pacific region to gain market share and improve profitability. Since biocides are specialty chemicals their market is price sensitive. Market participants have thus shifted their focus on product differentiation through innovation. Patents have become common in the market as participants look to capture market share by differentiating on new technologies. The number of patents that have been filed increased due to new product development across the globe. As the consumption level for biocide increased in various applications such as water treatment and wood preservative, the number of patents filings by players also registered an increasing trend.
Key participants in the global biocide market include AkzoNobel N.V. (The Netherlands), Ashland Inc. (U.S.), BASF SE (Germany), Champion Technologies (U.S.), Clariant AG (Switzerland), Cortec Corporation (U.S.), LANXESS AG (Germany), Lonza Group Ltd (Switzerland), Nalco Holding Company (U.S.), Thor Group Limited (U.K.), and Troy Corporation (U.S.).