Biocides Market Projected Worth of $13.6 Billion by 2027, at a CAGR of 4.3%
The global biocides market will grow to USD 13.6 billion by 2027, at a CAGR of 4.3% from USD 11.0 billion in 2022 Biocides are substances used to kill or inhibit all harmful life forms when introduced in sufficient concentration and duration. They are primarily used to kill harmful organisms and control bacterial or fungal growth.
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The key market players profiled in the report include LANXESS AG (Germany), Veolia Group (France), Arxada AG (Switzerland), Ecolab Inc. (US), Nouryon (Netherlands), General Electric Company (US), Evonik Industries AG (Germany), Solvay SA (Belgium), and Clariant AG (Switzerland) and others.
LANXESS AG is a leading specialty chemical company with the primary expertise in producing, developing, and marketing chemical intermediates, additives, specialty chemicals, and plastics. The company operates its business into five segments, namely advanced intermediates, specialty additives, engineering materials, consumer protection and reconciliation. The company offer biocides through consumer protection segment. The company has 65 production sites and 32 Health, Safety, & Environment (HSE) checks at production facilities in 19 countries in the regions of Europe, Middle East & Africa, North America, Asia Pacific, and South America.
- In July 2022, LANXESS AG has acquired the microbial control business unit of a US based group named International Flavors & Fragrances Inc. (IFF Inc.). This acquisition will help LANXESS AG to strengthen their biocidal active substances portfolio and microbial control business.
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Arxada AG is a rebranded company of the former company named Lonza Specialty Ingredients (LSI). The company offers biocides through the microbial control solutions division and its acquired company Troy Corporation. The company provides a wide portfolio of differentiated products targeted at a range of end markets. The company has 3,800 employees working in 26 manufacturing sites and 17 research and development centers globally in the regions of Europe, Middle East & Africa, North America, South America, and Asia Pacific.
- In March 2021, Arxada AG signed a distribution agreement for the distribution of healthcare disinfectants with LifeClean International. This agreement covers the commercialization of healthcare disinfectants in Europe.
During the forecast period, North America is expected to witness the highest growth rate in the biocides market. The region’s rapid expansion can be attributed to rising demand for antimicrobial solutions across various industries, driven by advancements in technology and growing awareness regarding hygiene and disease prevention.
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