Pune, India -- (SBWire) -- 02/19/2018 --The report Biocides Market by Products (Organosulfurs, Organic Acids, Phenolic, Nitrogen, Halogen Compound, Metallic Compounds, and Others), Application (Food & Beverage, Personal Care, Wood Preservation, Paints & Coatings, Water Treatment, Boilers, Oil & Gas, Fuels, HVAC, and Others) - Global Industry Analysis, Trends analysis and Forecast up to 2023 studies the world as well as regional markets including North America, Europe, Asia Pacific and RoW (Including Latin America, Middle East and Africa)", The biocides market is expected to reach USD 10.50 Billion by 2023 expanding at a CAGR of 4.5%. Factors driving the growth of this market include increasing use of biocides in agriculture industry as pesticides, growing use biocides in water treatment and increasing demand as preservatives in food & beverages industry.
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Halogen Compound Estimated to Account for the Largest Share of the Market In 2017
By product, the biocides market is classified into organosulfurs, organic acids, phenolic, nitrogen, halogen compound, metallic compounds, and others. The halogen compound segment is expected to lead the global biocides in 2017. Factors driving the growth of this segment include increasing adoption of halogen-based biocides in wood preservation and water treatment application, rising demand for halogen biocides owing to its properties such as preventing microbial growth, disinfecting drinking water and available at lower cost.
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Water Treatment Estimated to Command the Largest Share of the Market during the Forecast Period
Based on application, the biocides market is categorized into food & beverage, personal care, wood preservation, paints & coatings, water treatment, boilers, oil & gas, fuels, HVAC, and others. The water treatment segment is estimated to account for the largest share of the global biocides market during the forecast period. Rising awareness among the consumers regarding clean water as well as increasing demand from various end use industries for industrial and municipal use of treated water are the key factors driving the growth of this end-user segment.
North America Estimated to Command the Largest Share of the Market
Based on region, the biocides market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America is expected to dominate the biocides market in 2018. This is attributed to factors due to presence of various end use industries in the region as well as rising demand for biocides from the application such as food & beverages, paints & coatings and water treatment.
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Company Profiles Mention in this Report:
The report profiles some of the key companies in the biocides market including Akcros Chemicals, Albemarle Corporation, Arch Chemicals Inc, Champion Technologies, Lubrizol, Anpath Group Incorporated, Baker Hughes Incorporated, Ashland Inc., BWA Water Additives, and Sigma-Aldrich.
Global Biocides Market to Reach USD 10.5 Billion by 2023 a Study by Infinium Global Research Predicts
The report Biocides Market by Products (Organosulfurs, Organic Acids, Phenolic, Nitrogen, Halogen Compound, Metallic Compounds, and Others), Application (Food & Beverage, Personal Care, Wood Preservation, Paints & Coatings, Water Treatment, Boilers, Oil & Gas, Fuels, HVAC, and Others)