International. Considerably reformed by pending regulations, despite persistent eurozone economic uncertainty, the specialty biocides market in Europe is expected to grow by 2.1% over the next five years, according to the latest special published by market analyst Kline.
While several segments in the biocides market in the U.S. could see a 6% increase in the volume of compound annual growth rate, while China and India, although growing on smaller bases, their markets promise.
The European market for special biocidal products covered by the study generated an estimated €569 million in 2012, with market volumes of approximately 112,000 tonnes. By category, halogenated lead the sector with 37% of the total volume.
In Europe, the application of the final version of the European Union's Biocidal Products Regulation is close, so the market will incur changes, such as product restrictions. The regulation will introduce a number of new requirements aimed at minimising the risks posed by products containing biocidal active substances, and will allow the authorisation of the product to the whole EU to streamline certification.
Within the United States, the oil and gas industry is expected to grow substantially over the next five years, driven by the expected shale gas boom. The biocides market would benefit from this given the increased awareness about disinfection within this industry. This would translate into a global CAGR of 6% in volume for biocide applications within this industry. Overall, the United States remains the largest market for specialty biocides, with a total market value of more than $2 billion.
