Albany, NY -- (SBWIRE) -- 08/29/2018 -- A recent report, issued by Transparency Market Research (TMR), studies the behavior of global biocides market, which was valued US$6.99 billion in 2011. It is likely to reach a market value of US$9.62 billion by 2018, increasing at 4.7% CAGR from 2012 to 2018. The research report is titled "Biocides Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018".
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The research report evaluates the biocides market on the basis of the product type, application, and the geography and presents an in-depth analysis of past performance, current trends, and future prospects of this market.
By product type, the global biocides market is segmented into halogen compounds, metal compounds, nitrogen, organic acids, organosulfurs, phenolic compounds, and other compound.
Halogen compounds dominated the global biocides market accounting for 28.4% of the total market share in 2011. Intense rise in global demand for water supply has driven the growth of halogen based biocides market. However, the toxic nature of bromine and chlorine compounds is the major concern among developed countries in accordance with its usage as biocides. Metal compounds held around 19% of the total biocides market shares in 2011. Phenolic compounds segment is likely to be the fastest developing biocides market at an expected 6.8% CAGR during 2012 to 2018, owing to the rise in demand for homecare and healthcare products.
Based on application, the biocides market is classified into water treatment, personal care, paints and coatings, wood preservation, food and beverage, and others.
Water treatment dominated the global biocides market by application and held around 22% of the total market share in 2011. It is likely to be the fastest developing biocides market in application segment with an expected CAGR of 5.9% from 2012 to 2018, due to rising demand of treated water from different sectors such as commercial, industrial, and households. Other main end-user applications of biocides such as personal care, paints, and coatings are likely to show moderate development in near future, owing to growing hygiene concern globally. Rest of the applications consisting of wood preservation, food and beverages, and others accounted for more than 50% of the global biocides market in 2011 collectively.
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Geographically, North America, Europe, Asia Pacific, and Rest of the World are the main segments of global biocides market. North America held around 43.0% of the biocides market share, and dominated the market 2011. Emerging North American markets such as food processing, plastics, personal care, and paper and pulp are likely to drive the growth of biocides in near future. Asia Pacific is estimated to be the fastest developing market at around 5.8% CAGR from 2012 to 2018. Europe followed Asia Pacific and is expected to experience growth at a slower pace compared to the other regions.
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