Biocides Market Market to Exhibit a CAGR of 4.2% from 2024 to 2032 | Intace Comes Into Acquisition With Lanxess With an Aim to Strengthen Its Biocide Technology

The global biocides market size was USD 7.99 billion in 2023. The market 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. The market is anticipated to be fueled by increased r&d activities and rising consumer awareness regarding self-hygiene. Fortune Business Insights stated this in a report titled, “Biocides Market Size Report, 2024-2032.”

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Biocides Industry Segmentation-

Excellent Characteristics of Quaternary Ammonium Compounds Will Favour Product Demand

On the basis of type, the market is classified into quaternary ammonium compounds, metallic compounds, phenolic, organic acids, organosulfur, halogen compounds, and others. The quaternary ammonium compounds segment will rule due to its excellent characteristics to deter the growth of microbes without harming the human body.

Rising Incidence of Air Borne Diseases Surges Demand for Paints and Coatings Segment

In terms of application, the market is divided into cleaning products, furniture and furnishings, clothing and textiles, leather and suede, paints and coatings, fuel preservatives, water treatment, food and personal care products, and others. The paints and coatings segment will gain popularity due to its heavy usage in manufacturing firms to stop fungal or microbial growth either through the air or by touch.

List of the Companies Profiled in the Biocides Market:

• Shandong IRO Biocide Chemicals Co., Ltd. (China)
• Albemarle Corporation (U.S.)
• Lonza Group Ltd (Switzerland)
• Wuxi Honor Shine Chemical Co. Ltd. (China)
• Lanxess AG (Germany)
• Solvay SA (Belgium)
• Neogen Corporation (U.K.)
• Finoric LLC (U.S.)
• Shanghai Zhongxin Yuxiang Chemical Co., Ltd (China)

Biocides Report Coverage

The report provides insights into the regional analysis covering different regions, contributing to the market’s growth. The report includes qualitative and quantitative analysis of several factors, such as the key drivers and restraints that will impact the market. Adopting strategies by major players to introduce partnerships, collaboration, and new products will contribute to the market’s growth.

Drivers and Restraints

Rising Applications In Automotive Industries to Stimulate Product Demand

Due to the growing application of bioplastics in the automotive sector to protect the interior and exterior surface parts from the ambient environment and air pollution will considerably stimulate the product demand. Furthermore, the growing popularity of water-based paints compared to oil based has escalated the demand for the product. Meanwhile, the rising prices of biochemicals could impede the biocides market growth.

Regional Biocides Market Insights

Rising Adoption of Advanced Technologies Nurtures Growth in Asia Pacific

Asia Pacific is expected to generate significant biocides market share in regions such as Japan, India, and China due to the high consumption of cleaning products and rising adoption of advanced technologies in the paints and coatings sector.

North America will likely grow exponentially during the forecast period due to the shifting trend towards natural and bio-based biocides. Furthermore, the rising technological boom across the region is further expected to contribute to market growth.

Europe is expected to showcase impressive growth due to the rise of textile industries and HVAC systems in commercial, residential, and institutional buildings. The high consumption of automobiles across the region is further expected to grow the product demand.

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Competitive Landscape

Soaring investments In Advanced designs Exclate Product Demand

Leading companies will likely invest in R&D activities, technological advancements, and product rollouts to expand their geographical presence. With soaring investments in innovation and advanced design, stakeholders could inject funds into mergers and acquisitions.

Biocides Industry Developments:

October 2020: A Paris-based biocide company, INTACE comes into an acquisition with LANXESS with an aim to strengthen its biocide technology.

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