Specialty Biocides Market by Product, Application and Geography - Global Forecast and Analysis 2019-2023
Global Specialty Biocides Market: About this market
Specialty biocides are chemical compounds that possess the ability to inhibit or kill unwanted pathogens, microorganisms, and other harmful organisms. Technavio’s specialty biocides market analysis considers sales from products including halogen compounds, nitrogen-based, inorganics, organosulfur, organic acid, phenolics, metallic compounds, and other products. Our analysis also considers the sales of specialty biocides in APAC, Europe, North America, South America, and MEA. In 2018, the halogen compounds segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the high reactivity of halogen compounds due to their strong oxidation properties will play a significant role in the halogen compounds segment to maintain its market position. Also, our global specialty biocides market report looks at factors such as the importance of wastewater recycling and water reuse, rising need for oil and gas extraction and refining, and significant growth of antimicrobial paints and coatings industry. However, side-effects associated with specialty biocides, increasing adoption of biocide-free antifouling coatings, and presence of stringent regulations may hamper the growth of the specialty biocides industry over the forecast period.
Global Specialty Biocides Market: Overview
Importance of wastewater recycling and water reuse
With the growing need for water and wastewater treatment, the adoption of specialty biocides to purify water is increasing. Specialty biocides purification technique has superior resistance to contaminants and high antimicrobial activity. This boosts its preference over other techniques including vacuum evaporation, UV disinfection, and others. Increase in wastewater recycling will lead to the expansion of the global specialty biocides market at a CAGR of over 5% during the forecast period.
Increasing use of silver-based biocides
Silver-based biocides has several benefits such as it prevents corrosion and discoloration in products by inhibiting the growth of several types of microbes. It is used as a biocidal agent in the healthcare industry due to its antimicrobial properties. It is also used in plastics and paints and coatings industries. The growing use of silver-based biocides in these industries is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global specialty biocides market during the forecast period 2019-2023, click here.
With the presence of several major players, the global specialty biocides market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading specialty biocides manufacturers, that include BASF SE, Clariant International Ltd., Lonza Group Ltd., Nouryon Chemicals Holding BV, and Thor Group Ltd.
Also, the specialty biocides market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.