According to the new market research report “Water Treatment Biocides Market by Product Type (Oxidizing Biocides, Non-Oxidizing Biocides), Application (Oil & Gas, Municipal Water Treatment, Power Plants, Mining, Pulp & Paper, Swimming Pools), and Region – Global Forecast to 2024″, size is projected to reach USD 4.7 billion by 2024, at a CAGR of 6.2% during the forecast period.
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The global water treatment biocides market size is projected to reach USD 4.7 billion by 2024 from the estimated USD 3.5 billion in 2019, at a CAGR of 6.2% between 2019 and 2024. Water treatment biocides are active substances or chemicals used to destroy or prevent the growth of any microorganisms, such as bacteria and fungi. They are used in water-intensive applications, where the growth of microorganisms can create problems, such as microbially influenced corrosion (MIC) and anti-fouling, among others. The growing water scarcity and depletion of freshwater and groundwater resources have led to the increasing use of water treatment biocides.
Based on product type, the water treatment biocides market is segmented into oxidizing biocides and non-oxidizing biocides. The non-oxidizing biocides led the water treatment biocides, in terms of value, in 2018. The growing demand for non-oxidizing agents in applications such as oil & gas, power plants, and pulp & paper, among others is driving this segment of the market.
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The global water treatment biocides market size is projected to reach USD 4.7 billion by 2024 from the estimated USD 3.5 billion in 2019, at a CAGR of 6.2% between 2019 and 2024. The presence of a stringent regulatory environment, along with the growing demand for biocides from various applications, are the factors driving the demand for water treatment biocides. However, the lengthy and expensive registration process is restraining the growth of the water treatment biocides industry.
On the other hand, rising population and rapid urbanization in emerging economies are providing opportunities for the players in the water treatment biocides market. The market players are mainly concentrating on expansions, new product launches, contracts & agreements, mergers, acquisitions, and joint ventures to meet the growing demand in various applications.
The growth of the water treatment biocides market has been influenced primarily by expansions, new product launches, and contracts & agreements during 2017 and 2019. The market is fragmented with the dominance of players, such as DuPont (US), Ecolab Inc. (US), Solenis (US), and SUEZ (France) in different application segments. Other players present in the market are Innovative Water Care (US), BWA Water Additives (UK), Kemira Oyj (Finland), Veolia (France), Nouryon (Netherlands), Albemarle Corporation (US), LANXESS Group (Germany), and ICL Group (Israel).
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DuPont (US) is one of the largest manufacturers of water treatment biocides for the oil & gas application. The company focuses on the strategy of new product launch in order to strengthen its product portfolio and position in the water treatment biocides market. For instance, in October 2018, the company launched two new biocides, i.e., AQUCAR TN 250 LT Water Treatment Microbiocide and AQUCAR 7140 LT Water Treatment Microbiocide, to provide microbial control below minus 40°F. In addition, in August 2017, the company launched AQUCAR GA 50 Water Treatment Microbiocide for use in offshore oil & gas operations.
Solenis (US) is another important player in the water treatment biocides market, which focuses on merger, expansion, and acquisition to earn a competitive edge. In January 2019, Solenis and BASF SE (Germany) combined their paper and water chemical businesses to offer cost-effective solutions to the customers in the pulp & paper, oil & gas, mining, biorefining, power, municipal, and other industrial markets. In July 2017, the company acquired Nopco Colombiana S.A. (Colombia). This acquisition helped the company strengthen its portfolio for the water treatment segment and expand its production facilities in the growing Central & South American market.
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