LONDON--(BUSINESS WIRE)--The specialty biocides market size is expected to post a CAGR of over 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
There is a high need for wastewater recycling due to the growth of the population and rapid urbanization. The growing need for wastewater treatment is likely to increase the demand for specialty biocides. Although several water purification techniques are available, specialty biocides are generally preferred for water treatment due to their superior resistance to contaminants and high antimicrobial activity. They are widely used for water and wastewater treatment applications in the food and beverage, pharmaceutical, and chemical and petrochemical industries. Thus, the rising need for water and wastewater treatment chemicals is expected to drive the growth of the global specialty biocides market during the forecast period.
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As per Technavio, the increasing use of silver-based biocides will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Specialty biocides Market: Increasing Use of Silver-Based Biocides
In recent years, silver has become the most preferred choice of metallic compound-based specialty biocides. It is primarily used to inhibit the growth of many types of microbes because of its low toxicity for humans and animals. It also prevents deteriorating effects such as discoloration, physical damage, corrosion, and foul odor. Currently, silver-based biocides are increasingly being used in medical and healthcare fields, including therapies, because of their antimicrobial properties. For instance, medical implants are coated with various forms of silver to prevent infections. Thus, the increasing adoption of silver-based specialty biocides for various applications such as healthcare, plastic, and paints and coatings is expected to drive the growth of the market during the forecast period.
“The rising demand for specialty biocides for use on construction materials is another factor that is boosting the expansion of the market. Specialty biocides are used to protect these materials from spoilage and microbial contamination. Moreover, increasing use of specialty biocides in the healthcare industry will also have a positive impact on the specialty biocides market growth,” says a senior analyst at Technavio.
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Specialty Biocides Market: Segmentation Analysis
This market research report segments the specialty biocides market by product (halogen compounds, inorganics, organic acid, metallic compounds, nitrogen-based, organosulfur, other products), by application (water treatment wood preservation, hygiene and disinfectants, paints and coatings, food and beverage, personal care, antifouling, oil and gas, agriculture, and other applications) and geographic regions (North America, Europe, APAC, South America, and MEA).
The North American region led the specialty biocides market in 2018, followed by Europe, APAC, South America, and MEA respectively. The growth of the specialty biocides market share in North America can be attributed to the rising demand for specialty biocides for applications such as water treatment, wood preservations, paints and coatings, oil and gas, agriculture, and antifouling.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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