Global Metal Biocides Market Analysis by Products, Companies and Trend Forecast: 2024
Global Metal Biocides Market is projected to grow from $ 3.4 billion in 2018 to S 4.5 billion by 2024, on account of growing paints & coatings, medical and water treatment industries. Metal biocides prevent microbial activities and their effectiveness varies with the concentration as well as duration of exposure. The metal biocides market find applications in numerous end-use industries including agriculture, wastewater treatment, pharmaceutical and personal care. They are used for the treatment of drinking water and wastewater as antifouling agents and disinfectants in hospitals that prevent molluscs from accumulating in industrial pipes. Furthermore, they find applications in preventing the growth of algae and fungi on applied paints including varnishes and coatings.
Pesticides segment is expected to register the highest CAGR in global metal biocides market during the forecast period, owing to increasing demand for metal biocides in for utilization in agriculture to increase the resistance towards unwanted organisms and also to inhibit the growth of algae and fungi on applied paints.
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Asia-Pacific, North America and Europe have been considered as the main metal biocide markets for the report. Asia-Pacific is the largest market for metal biocides, globally, owing to the presence of key market players such as The Dow Chemical Company (U.S.), Troy Corporation (U.S.), Milliken Chemical Company (U.S.), and Noble Biomaterials Inc. (U.S.) in the region. Intense competition among the major market players led to a price stabilization in the past few years. The growing demand for metal biocides in pesticides is expected to drive the region’s metal biocides market during forecast period.
Global metal biocides market is growing at a moderate rate. Stringent regulations for the production and consumption of metal biocides coupled with the requirement of high capital investments are the key factors restraining market growth. These factors create a huge entry barrier for new entrants in global metal biocides market, which in turn discourages competition and lowers overall market growth.
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Last Update : 21 April 2020
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