Industry Insights
Growing purified water supply demand in residential, commercial and industrial process applications to sustain optimum efficiency and to maintain wellness is expected to have a positive impact on the biocides market. Rapid construction growth coupled with industrialization in emerging markets is expected to drive the market. Biocides have very less or almost zero content of volatile organic compounds (VOC) and are preferred over other chemicals with high content VOC possessing relatively hazardous properties. They are used as additives in the paints and coating industry to prevent paints from getting contaminated. Growing health awareness and change in lifestyle is expected to have a positive influence on the personal and health care industry where usage of biocides is at the peak. However, government regulations and environmental norms may hinder the growth rate of the market owing to the fact that biocides cause harm to living organisms. Lengthy registration process and high processing fee to pass through the regulatory norms is expected to be a key challenge for the market over the forecasted years.
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Product Insights
Halogen compounds emerged as the leading biocides product and accounted for over 20% of the global consumption. Growing need for treated water supply in industrial, pulp and paper industry is expected to drive the halogen compound market. Other biocides products include metallic compounds, organic acids, organosulfur, nitrogen, gluateraldehyde, sodium hydroxide and phenolic. Stringent regulatory norms and governmental regulations may hinder the growth rate over the forecasted period. Use of triclosan, phenol compound, is in demand for personal care and health care industry, where it is used in liquid soaps as antimicrobial supplements....