Market Trends of Biocides Industry
The Water Treatment Segment is Expected to Dominate the Market
- Biocides are extensively used in various water treatment applications, including municipal water treatment, industrial water treatment, swimming pool sanitation, cooling, water treatment, and wastewater treatment. The wide range of applications within the water treatment segment contributes to the significant market share held by biocides.
- The growing global population, urbanization, industrialization, and increasing water scarcity drive the demand for water treatment solutions, including biocides. As the demand for clean and safe water continues to rise, the water treatment segment is expected to remain a dominant market for biocides.
- As per a UNICEF report released on July 2023, in 2022, 5.82 billion people consumed drinking water from an improved source that was accessible on-premises and free from fecal and chemical contamination. Moreover, 1.5 billion people consumed water from primary sources.
- According to the data published by UNICEF, almost 76 % of people consumed safe drinking water in 2022, and more than 99% of people consumed safe drinking water in Germany, France, Sweden, and Spain.
- The United Nations (UN) estimates that approximately 1.8 billion people will be residing in regions with complete water scarcity by 2050, with Sub-Saharan Africa having the most significant number of water-stressed countries. The United Nations is urging countries to develop water treatment technologies.
- Thus, the demand for biocides is increasing as water treatment applications become increasingly important.
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North America is Expected to Dominate the Market
- North America is expected to dominate the market. The United States is the region's largest economy in terms of GDP. With the increasing number of end-user industries such as water treatment, paint, coatings, food and beverages, and others, the United States, which is one of the largest markets for biocides, is expected to witness growth over the forecast period.
- The US Environmental Protection Agency (USEPA) is emphasizing improvements to water and sewage services, particularly local wastewater treatment facilities. The organization awarded over USD 336 million to the state of New York to support cleaner water across the state, according to the data released by the US Environmental Protection Agency (EPA) on October 2023.
- The demand for treatment plants is increasing in North America. For instance, according to the data released by the US Census Bureau, public construction spending in the United States on sewage and waste disposal projects increased from USD 23.52 billion in 2018 to USD 31.95 billion in 2022.
- Thus, the country is investing heavily in the construction of water treatment plants.
- In Mexico, the production value in the purification and bottling of water sector increased from MEX 2,704.81 million (USD 160.99 million) in January 2023 to MEX 2,793,07 million (USD 166.24 million) in October 2023, according to the data published by INEGI.
- Thus, the above-mentioned factors are expected to increase the use of biocides for the treatment of wastewater in North America.
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