Future Market Insights has announced the addition of the “Biocide Market: Latin America Industry Analysis and Opportunity Assessment 2014 - 2020" report to their offering.
Valley Cottage, NY -- (SBWIRE) -- 02/11/2016 -- Biocides are the chemicals or certain metals which are used to kill different categories of micro-organisms at different life stages. Biocides are widely used in drinking and waste water treatment, healthcare and the consumer goods industry. Consumer products include cosmetics, cleaning products, detergents, some toothpastes and general disinfectant products. In addition, biocides are used in food industry at a sub-lethal level to act as preservatives which impart a longer shelf life.
There is an increased demand for bromine and its derivatives from the enduse sectors such as agriculture, oil & gas, textile, electronics, ship & automotive, pharmaceutical and water treatment plants. The biocide market can be segmented by type as metallic compounds, halogen-based derivatives, organic acids, organ sulphurs, and phenol-based compounds. Glutaraldehyde and sodium hydroxide are some other types of biocides. Biocide will finds its highest growth in the wastewater treatment sector (one-fourth of market revenue) followed by the food & beverages industry, the personal care segment and metalworking fluids.
Halogen compounds are the most common type of biocides used in large number of industries followed by organic acids. They account for nearly one-fourth of the total biocide market share. Various enduse industries such as water and wastewater treatment plants, paper and pulp industries, and cooling systems usehalogen-based biocides in their daily operations. Organic acid is the next type of biocide which accounts for thesecond largest share in thebiocidesmarket. It is prominently used in areas related to disinfectant water and wastewater treatment. Metallic compounds are largely used for disinfection of industrial wastewater systems.However, their market potential seems to be dipping primarily due to rising environmental concerns and human side effect risks. Greater concern over public health willdrive the demand for phenol-based biocides at a CAGR of 6.8% (2014-2020) in hospitals, railway stations, retail outlets and other public places.
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Geographically, North America with 40% share in the global biocide market is expected to continue to dominate the marker over the next five years. However, Latin America and the APAC biocide marketsare also anticipated to remain a promising market.The prime reasons behind the North America growth trajectory are advanced technological solutions, concentration on the food & beverages and healthcare industries. Though North America is surely the global leader in the biocide market, itsgrowth will see a stagnant phase due to stringent environmental regulations.
Latin America will be the future market for biocides. With the rise in GDP, technological advancement, and advent of better healthcare facilities, Latin America will offer a lucrative biocides market. Though its market share in terms of value was just 8% of the global market in 2013, itwill witness tremendous growth in next5 years. Brazil is seen as the market with the most potential in Latin America for biocides. The Brazilian government is now boosting its infrastructure and healthcare system. These efforts will act as a catalyst for the development of the biocides market in the country. Also, being an active member of BRICS, Brazil will witness heavy investment in various industry verticals which, in turn, will furtherboost the biocide market in Brazil.
Future demands are likely to come from the emerging economies like India, China, South Africa, Indonesia, and Vietnam, among others.
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The major players of biocides include theLonza Group, the Dow Microbial Control, ISP Chemicals Inc., Ashland Inc., Champion Technologies, BASF SE, Troy Corporation, and Thor Specialties Inc.
Large numbers of government and environmental regulations are imposed at various levels of the value chain in the biocide market right from manufacturers to distributors.Thisacts as potential threat for a new entrant having less knowledge of labelling and safety. Numerous laws exist in different countries regarding labelling and storage of biocide products, and their leftover disposal. Therefore the market of biocides is expected to grow at a moderate CAGR between 2014 and 2020.