LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global biocides and disinfectants market to grow at a CAGR of over 5% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global biocides and disinfectants market for 2017-2021. Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The global biocides and disinfectants market will grow at a steady rate during the forecast period. Chemicals are popularly used for the treatment of water and waste water. The high demand for biocides and disinfectants are primarily due to the increasing population and the growing demand for clean and safe water. Declining fresh water resources and the rising level of contamination in water across the globe have led to an increase in the demand for water treatment chemicals.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global biocides and disinfectants market:
- Increasing population and rising demand for clean water
- Rising environmental and health concerns
- Increasing incentives by governments
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Increasing population and rising demand for clean water
Rising population across the globe increases the demand for clean water, which drives the global biocides and disinfectants market. It is estimated that the global population will increase by around 35% during 2015-2050, which will increase the demand for water by more than 50%.
Ajay Adhikari, a lead specialty chemicals research analyst at Technavio, says, “Increasing demand for clean water is primarily due to growing population, climate change, and change in food consumption habits. Water is extensively used in the agricultural sectors around the world. The demand for water in the industrial and energy sectors together accounts for around 20% of the global demand.”
Rising environmental and health concerns
Rising environmental and health concerns have led to a rapid increase in the demand for water treatment chemicals. Environmental pollution, emission of harmful greenhouse gases, and the rapid depletion of natural resources, such as water, adversely affect water availability. The quality of water is deteriorating at a much faster pace than expected.
“Frequent health problems and diseases are caused due to the discharge of untreated waste water. Water-borne diseases caused by pathogens and other microbes present in water adversely affect human health. Around 3.4 million people die annually due to water-related diseases that can be prevented through simple measures,” adds Ajay.
Increasing incentives by governments
Several governments around the globe are adopting measures to minimize water contamination and improve water quality. Governments and regulatory authorities across the world provide funds and incentives and launch awareness programs to encourage households and organizations to use water treatment chemicals.
They also conduct research to develop innovative technologies related to water treatment chemicals. Vendors are offered incentives for introducing innovative and cost-effective chemical technologies for water treatment. Increasing support for water treatment chemicals by the governments drives market growth.
Top vendors:
- Akzo Nobel
- BASF
- Clariant
- Kemira
- The Dow Chemical Company
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