According to the research report titled ‘Global Biocides Market Size study, by Product (Halogen Compounds, Quaternary Ammonium Compounds, Metallic Compounds, Organosulfur, Organic Acids, Phenolic, Nitrogen and Glutaraldehyde), by Application (Paints & Coatings, Water Treatment, Boilers, Plastics, Oil & Gas, Fuels, Personal Care, Fuels and Others), and Regional Forecasts 2021-2027’, available with Market Study Report, global biocides market was valued at USD 7.83 billion in 2020 and is expected to record a CAGR of 3.75% over 2021-2027, subsequently reaching USD 10.14 billion by the end of the assessment period.
 

Rising awareness regarding hygienic practices and surging demand from end-use industries are fueling global biocides market growth.
 

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For the unversed, a biocide is a chemical substance used to kill, prevent, or decrease the harmfulness of any damaging organism (bacteria, fungus, or viruses) using chemicals. They are available in various forms, including antiseptics, disinfectants, and preservatives and have a wide range of applications in several industries.
 

Biocides are added to water to prevent bacteria, fungi, and algae from growing in the system. Chlorine is a common biocide used in wastewater treatment systems. They are also used as antiseptics to treat infections on damaged skin, as disinfectants and food preservatives in the food industry, to limit the growth of microorganisms on inanimate objects, and to inhibit fungal and bacterial development in paints and coatings.
 

Speaking of recent developments, the outbreak of COVID-19 pandemic increased awareness about the use of disinfectants and antiseptics, further adding to the industry progression.
 

Moving on to challenges, acute and chronic effects due to usage of biocides are likely to hamper the renumeration scope of the industry.
 

Considering regional landscape, Latin America, North America, Asia Pacific, and Europe are the leading contributors to the overall market development. Of these, North America currently leads global biocides market share, owing to rising per capita income and surging demand from end-use industries such as paints & coatings and food processing.
 

On the other hand, Asia Pacific industry is expected to accrue strong revenues through 2027, creditable to rising cognizance regarding hygienic practices, rising disposable income, and mounting demand from waste-water treatment plants, packaged food sector, etc.
 

Key players in global biocides marketplace are Lonza Group, Akcros Chemicals Inc., Melzer Chemicals Pvt. Ltd., Lanxess AG, Dow, Thor Industries Inc., Solvay S.A., BASF SE, The Lubrizol Corporation, and Albemarle Corporation.