International. Experts forecast that the global market for biocides will grow to $10.745 billion by 2020, according to the latest study by Grand View Research, Inc.
Population growth coupled with growing concern about industrial wastewater treatment is reportedly expected to drive demand for biocides over the next six years. In addition, the positive outlook in key markets such as paints and coatings in Asia Pacific, Latin America and Eastern Europe would also boost the demand for these products in the period analyzed.
Halogen compounds dominated the biocidal products sector, accounting for more than 27% of global market revenue in 2013. However, environmental issues regarding the disposition and impact of halogen-based compounds are expected to reduce the market penetration of these products in 2020. Phenolic biocides are also expected to be the fastest growing product segment, at an estimated CAGR of 6.9% from 2014 to 2020.
