Biocides refer to microorganisms or chemical substances that intend to deter, render harmless, destroy, or exert a controlling effect on any harmful organism by biological or chemical means. These compounds can act as pesticides, disinfectants, or preservatives for several end-use applications. As the excessive usage of this chemical can be harmful to humans, the biocidal products are regulated under the Biocidal Products Directive of the European Union (EU). Under the 98/8/EC directive of the EU, such products are classified into 22 types, based on their applications.
Owing to the disinfectant property of biocides, these are widely used to treat water and are also applied in the production, storage, and transportation of water. These compounds can act as disinfectants and anti-fouling agents for impeding the growth of harmful organisms like protozoans, viruses, and bacteria. Thus, biocidal products are being increasingly used in Indonesia, China, the U.S., and India, to meet the high requirement for portable water. Therefore, the market for biocides will grow at 4.4% CAGR during 2019–2024, to reach 1,376.6 kilotons by 2024 from 1,062.3 kilotons in 2018.
Across the globe, the biocides market will exhibit the fastest growth in the Asia-Pacific (APAC) region in the upcoming years, as per the estimates of P&S Intelligence, a market research firm based in India. The main factor fueling the demand for biocides in the region is the burgeoning requirement of treated water in industrial and residential applications in India, China, and various other Southeast Asian nations. In addition to this, the rising industrial capacity of these nations will further boost the usage of biocidal products in the region in the coming years.
Thus, the burgeoning consumption of consumer goods and the escalating requirement for portable water will propel the adoption of biocides in several end-use industries.
Read More: https://www.psmarketresearch.com/market-analysis/biocides-market
