RadiantInsights.com includes new market research report on "Global Biocides Market Size, Share And Trends Report Up To 2022 : Radiant Insights" to its huge collection of research reports.
San Francisco, Nov. 17, 2015 (GLOBE NEWSWIRE) -- Global Biocides Market size is likely to be valued at USD 11.9 billion by 2022; as per a new research report by Radiant Insights, Inc. Growth in water treatment process units particularly in China, Japan and India is likely to drive demand. Increasing health concerns arising from pathogens and bacterial growth is likely to favor market growth. Increase in paints & coatings demand owing to growing infrastructure spending is anticipated to drive growth. Stringent compliance regulations from EPA and REACH regarding product composition and its use may challenge market participants.
Halogen compounds dominated the product segment with revenue generation estimated close to USD 2.2 billion in 2014. They are anticipated to witness sluggish growth rates owing to halogen emission restriction by regulatory bodies. Phenolic biocides are likely to witness highest gains with an estimated CAGR of 7.0% from 2015 to 2022.
Global biocides market size was valued at USD 7.99 billion in 2014 and may be worth USD 11.9 billion by 2022 growing with an estimated CAGR of 5.2% from 2015 to 2022.
Water treatment dominated the application segment and accounted for 23.2% of the total revenue in 2014 and is likely to witness highest gains. Factors such as treatment of scaling, microbial activity, disposal and corrosion are likely to support demand. Oil & gas applications are anticipated to witness significant growth rates of 5.8% from 2015 to 2022.
North America biocides market accounted for over 40% of the global revenue in 2014. Presence of water treatment plants and increasing consumer awareness towards health is likely to drive regional demand.
U.S. accounted for approximately 80% of North America demand in 2014. Mexico is anticipated to witness highest gains in the region with an estimated CAGR of 5.7% from 2015 to 2022.
Asia Pacific is expected to witness highest gains, at an estimated CAGR of 6.4% from 2015 to 2022.
Global biocide market share is moderately consolidated with top four companies covering 58% of the demand.
Key companies include Arch Chemicals, Troy, Ashland, Thor Specialities and Dow. Other prominent companies include Albemarle, AkzoNobel and BASF.
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