Pune, India, December 6, 2021 (GLOBE NEWSWIRE) – The world biocides Marlet The size is expected to reach USD 9,914.2 million by 2028, with a CAGR of 4.2% between 2021 and 2028. The increasing adoption of innovative solutions in the medical industry will positively contribute to the growth of the market over the course of forecast period, says Fortune Business Insights, in a report titled “Biocides market, 2021-2028 Â» The market size was USD 7,195.1 million in 2020.
Production in various sectors has been halted due to the economic crisis. This has resulted in declining sales volume and supply chain disruptions and stopping shipments of paints and coatings, severely constraining this market. However, companies are putting strategies in place to cope with the current situation, which in turn will drive the development of the global market in the years to come.
The report lists the key companies in this market:
- Vink Chemicals GmbH & Co. KG (Germany)
- Clariant (Switzerland)
- Kemira Oyj (Finland)
- Troy Corporation (United States)
- Thor Group Limited (UK)
- Lanxess AG (Germany)
- Solvay SA (Belgium)
- Neogen Corporation (UK)
- Finoric LLC (United States)
- Shanghai Zhongxin Yuxiang Chemical Co., Ltd (China)
- Shandong IRO Biocide Chemicals Co., Ltd. (China)
- Albemarle Corporation (United States)
- Lonza Group SA (Switzerland)
- Wuxi Honor Shine Chemical Co. Ltd. (China)
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Acquisition of INTACE by LANXESS to drive growth
LANXESS, a specialty chemicals company, has purchased INTACE SAS, a French company, to increase its market share as one of the world’s leading producers of biocides and antimicrobials. The biocide company, located in Paris, manufactures specialized fungicides for the packaging industry. On January 14, 2021, LANXESS and the seller signed a memorandum of understanding to this effect. The parties have agreed to keep the purchase price secret. The acquisition is expected to be finalized in the first quarter of 2021, according to LANXESS. The purchase will increase the market share of biocides as INTACE anticipated revenues in an upper half paid range by 2020. Paper, cardboard, soap wrappers, labels and banknotes are just a few. one of the applications of its products. The products of this business unit are used in a wide variety of applications around the world. The business unit provides customer specific solutions for various industries with its wide variety of antibacterial agents and active preservatives.
Increased demand for products in medical applications to open up new possibilities
The medical business is growing due to increased consumer awareness of health and cleanliness, which creates market opportunities. This, combined with economic growth, encourages companies to use new technologies to develop medical solutions. Biocides are chemicals that are added to disinfectants and cleaners used in hospitals and clinics to keep them clean and sterilized. Surgical equipment, tools, surfaces and accessories are all cleaned with them. The increase in demand can be attributed to the product’s ability to suppress microbial growth. In addition, the product is used in the food and beverage industry and the leather industry. Thus, the growing demand for these products will allow a rapid expansion of the market.
Paints and coatings to get the lion’s share
On the basis of type, the market is segmented into halogen compounds, quaternary ammonium compounds, metal compounds, phenolic acids, organic, organosulfur, and others.
On the basis of Applications, the market is categorized into Water Treatment, Food & Personal Care, Cleaning Products, Furniture & Furnishings, Apparel & Textiles, Leather & Suede, paints and coatings, fuel preservatives and others. Paints and coatings are expected to account for the largest share during the forecast period. The growth is attributed to its high use in the construction and automotive industries.
Geographically, the market is divided into North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
Increased consumption of Biocides to stimulate the market in Asia-Pacific
- Growing demand for industrial and consumer applications will drive the market in Asia-Pacific
- North America is expected to experience radical expansion during the forecast period due to the increasing application of biocides in wood preservation.
- The increasing production of cars will uplift the market in Europe during the forecast period.
- Strong demand and supply of products from the furniture, automotive and construction industries will drive opportunities in Latin America, the Middle East and Africa.
Browse the detailed summary of the research report with the table of contents:
Thor Group Limited to account for a high share
Thor Group Limited manufactures products for a wide range of industrial and consumer uses. To gain a competitive advantage in the biocides market, leading manufacturers are using techniques such as improving brand awareness, growing regional presence, and launching new product offerings. Companies are also investing in technological advances in order to broaden their product offering.
Assessment of the key players in this research:
- The report offers a detailed analysis of the major companies in the market across the globe.
- It provides details of the major vendors involved in this market
- A complete overview of each company including company profile, revenue generated, commodity prices, and manufactured products is incorporated into the report.
- The facts and figures regarding the market competitors along with the views of the major market players are presented in the report.
- Recent developments, mergers and acquisitions related to the mentioned key players are provided in the market report.
Main Table of Contents:
- Scope of research
- Market segmentation
- Research methodology
- Definitions and assumptions
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- Key ideas
- Main emerging trends – for the main countries
- Key developments: Mergers, Acquisitions, Partnerships, etc.
- Latest technological advances
- Overview of the regulatory scenario
- Porters Five Forces Analysis
- Qualitative analyzes – Impact of COVID-19 on the global biocides market
- Supply chain challenges
- Measures taken by government / companies to overcome this impact
- Potential opportunities due to the COVID-19 epidemic
- Global Biocides Market Analysis, Outlook and Forecast, by Type, 2017-2028
- Main conclusions / summary
- Market size estimates and forecasts
- By type (volume / value)
- Halogen compounds
- Ammonium compounds from the Quertnaire
- Metallic compounds
- Organic acids
COT Continued …!
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