The global biocides market is growing, due to the increasing demand for water treatment, growing demand for food and beverages, and large base of end-use industries. Among the various types of biocides, the halogen segment held the largest share in the global Biocides market in 2015, and it is anticipated to retain its dominance during the forecast period. The major factors driving the growth of the halogen biocides market are the easy availability of raw materials, such as iodine, chlorine and bromine and their low cost. Metallic compounds were the second largest biocides consumed across the globe in 2015.
The growing biocides applications in plastics and increasing demand for biocides in the emerging economies of Asia-Pacific such as India and China, and the development of multi-functionality excipients are creating ample revenue generation opportunities for the major biocides manufacturers. The key trend witnessed in the global market is the shift of interest from halogen biocides to others types of biocides in the developed economies of North America and Europe. However, the stringent regulatory requirement for biocides is expected to hinder the growth of the Global biocides market to some extent.
Biocides are the active chemical molecules or compounds used to control or inhibit harmful organisms. According to the Directive 98/8/EC of the European Parliament and Council of the 16 February 1998, biocidal products are defined as active substances and preparations containing one or more active substances, put up in the form in which they are supplied to the user, intended to destroy, render harmless, prevent the action of, or otherwise exert a controlling effect on any harmful organism by chemical or biological means.
News Courtesy: P&S Market Research