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Biocides Market Size in Oil & Gas Applications to Expand $1 Billion By 2024

Author : Ronak Bora | Published Date : 2019-08-06 

Biocides market from oil & gas applications may surpass USD 1 billion by 2024. Oil & gas wells and storage zones have certain microorganisms like bacteria that produce hydrogen sulfide which can be explosive and combustible. Strong indicators towards minimizing functional fluids deterioration, corrosion control and growth in oil & gas production rates will boost product demand.

Personal care applications may exceed USD 1.8 billion by 2024. Biocides are used as preservative in personal care and cosmetics industry as they inhibit the microbiological growth in easily perishable products resulting into enhanced product shelf life and consumer safety.

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Food and beverage applications may surpass USD 2.2 billion by 2024. Biocides control the growth and proliferation of microorganisms to enhance hygiene and safety in food & beverage industries. Growth in food processing industries along with favorable regulations regarding the usage of product in order to limit the spread of diseases through food industry will stimulate biocides market growth.

Phenolic based biocides market may witness growth of over 7% by the end of projected period. They are used to preserve aqueous based metalworking fluids in metalworking industry as they have a broad spectrum of activity against both fungi and bacteria. Increase in demand from food packaging, healthcare industries will propel market demand.

Speaking of the global biocides market hierarchy, the industry could be termed as highly combative owing to the presence of established companies such as Dow Chemical, BASF SE, Troy Corporation, Lanxess Aktiengesellschaft, Solvay, Albemarle, Akzo Nobel N.V., and Thor Group. The leading biocides market giants are increasingly focusing on mergers and acquisitions to strengthen their production capability and fortify regional presence. Akzo Nobel N.V., for instance, has recently announced to purchase the business of V.Powdertech Co. Ltd., the leading manufacturer of powder coatings, to complement its existing technology portfolio. The acquisition is set to positively influence one of the vital applications of biocides, that is paint and automotive coatings, which is forecast to exceed USD 15 Billion by the rising demand from automotive, marine, aviation, and construction sectors. Further mergers and acquisitions, partnerships and collaborations are strongly anticipated in the ensuing years. In terms of commercialization potential, the biocides market is forecast to hit a revenue USD 13 Billion by 2024, according to the recently published research report by Global Market Insights, Inc.

Europe, led by UK, France, Poland, Italy and Germany biocides market may register growth at over 4.5% by the end of foreseeable timeframe. Growth in pharmaceutical, healthcare and food processing industries along with increase in construction spending in residential sector owing to massive movement of migrants to western countries such as the Netherlands and Germany may stimulate regional industry growth.

Asia Pacific, driven by India and China biocides market is poised to exceed USD 4 billion by 2024. Increase in meat and poultry products consumption along with growing industrial and commercial waste water treatment systems may drive product demand.

Glimpse of Table of Content (ToC)

Chapter 3   Biocides Market Insights

3.1   Biocides Market segmentation

3.2   Biocides Market landscape, 2013 - 2024

3.3   Biocides Market ecosystem analysis

3.3.1   Vendor matrix

3.3.2   Distribution channel analysis   Strategic Alliance   Collaboration/partnerships   Distributors

3.4   Regulatory landscape

3.4.1   U.S.

3.4.2   Europe

3.5   Industry impact forces

3.5.1   Growth drivers   Growth in water demand in Asia Pacific   Growth of paints & coating industry in Asia Pacific   Blooming oil & gas industry in Middle East & Africa   Rising demand for food & beverage industry in U.S.

3.5.2   Industry pitfalls & challenges   Strict regulatory framework

3.6   Growth potential analysis

3.6.1   Emerging business model   New product launch

3.7   Porter’s analysis

3.8   Company market share analysis, 2016

3.8.1   Strategic dashboard

3.9   PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/biocides-market

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.


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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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