Articles

Rising Demand for Treated Water to Shoot Up Global Biocides Market Revenue till 2024

by Manish Kumar Digital Analyst

The worldwide biocides market is predicted to reach 1,376.6 kiloton sales by 2024, from its recorded sales of 1,062.3 kilotons in 2018, registering a CAGR of 4.4% during 2019–2024 (forecast period). This rapid expansionin the market can be attributed to the increasing usage of biocidal products inwater treatment processes andpreservation of petrochemical products, wood, paints, and coatings. One of the key application areas of biocidal products is water treatment, in which they are widely used for maintaining the microbiological quality of water.

 

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The major trend in the global biocides market is the introduction of stringent laws and regulations for biocides and biocide-based products, by various regulatory bodies and government departments across the world. For instance, the European Union (EU) and United States Food and Drug Administration (FDA) have issued regulations and guidelines in order to control the use of biocides and their active ingredients. This has increased the supervision oncertain biocidal products as well as resulted in the imposition of bans on some of these, owing to their cancer-causing nature.

 

In order to keep up with the standards set by the FDA and EU, the regulatory bodies in India, Vietnam, and South Korea have implemented laws, which have outlined strict regulations for a number of biocidal products. For instance, the Ministry of Environment (MoE) ofSouth Korea passed the Consumer Chemical Products and Biocides Safety Act, in January 2019. This act, also known as K-BPR, includes biocidal active substrates, consumer chemical products, biocidal products, and biocide-treated articles, under itsambitof the monitored products.

 

The increasing demand for water disinfection, owing to the rising pollution and water-borne contamination, is projected to drive the tremendous growth of the biocides market during the forecast period. The rising requirement for various biocidal products in various stages of water supply, such as production, transportation, and storage, due to their anti-fouling and pathogen-eliminating characteristics, ensure their heavy usage. Additionally, the usefulness of such products in maintaining the microbiological quality of water at an acceptable level will increase their demand in the coming years.

 

On the basis of type, the biocides market is divided into metallic, organosulfur, organic acid, halogenated, phenolic, nitrogenous, and other products, which include inorganic acids, ozone, alcohols, and aldehydes. Out of these, halogenated biocides, on account of their high demand as disinfectants, for water treatment, held more than 35.0% market share in 2018. The rapidly rising demand for halogenated biocidal products will lead the market to prosperity in the coming years.

 

Depending on application, the biocides market is divided into water treatment, human hygiene, preservation, household, industrial, and institutional (HI&I) cleaning, and others, which include agriculture and aquaculture. Amongst these, the water treatment application, owing to the growing demand for treated water for residential and industrial applications, records the highest usage of biocidal products. As a result of this,the water treatment division held the largest share, of almost 45.0%, in 2018.

 

On a regional basis,the Asia-Pacific (APAC) region is predicted to witness the fastest progressduring the forecast period. The main factor that will contribute toward this is the increasing demand for treated water in India, China, and Southeast Asian countries, for industrial and residential purposes. Due to a surge in the industrial capacities of these countries, as a result of the population boom, the demand for biocidal products is going to shoot up considerably in the region.

 

Therefore, on account of the growing need for treated water for a plethora of applications, in various countries across the world, the market will grow significantly in future.


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About Manish Kumar Freshman   Digital Analyst

19 connections, 0 recommendations, 48 honor points.
Joined APSense since, August 5th, 2019, From Noida, India.

Created on Apr 2nd 2020 02:54. Viewed 204 times.

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