Report : Water Treatment Biocides Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product Type (Oxidizing Biocides and Non-Oxidizing Biocides) and Application (Municipal Water Treatment, Oil & Gas, Power Plants, Pulp and Paper, Mining, Swimming Pools, and Others) and Geography
Rising Demand from Numerous End-User Applications to Escalate Market Growth
According to our latest market study on "Water Treatment Biocides Market to 2027 – COVID-19 Impact and Global Analysis by Product Type (Oxidizing Biocides and Non-Oxidizing Biocides); and Application (Municipal Water Treatment, Oil & gas, Power Plants, Pulp and Paper, Mining, Swimming Pools and Others), and Geography," the market accounted for US$ 3,723.67 million in 2019 and is expected to grow at a CAGR of 5.7% during 2020–2027 to reach US$ 5,754.43 million by 2027. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Water treatment biocides are used to control the microbial growth in water bodies. Water treatment biocides have been gaining increasing importance across the globe owing to their wide range of applications, ranging from swimming pools and municipality water treatment to water treatment in various industries, such as oil & gas, power plants, mining, and pulp and paper. Uncontrolled microbial growth can lead to several complications, such as breakdown of chemicals, health hazards, heat transfer losses, development of biofilms, and under-deposit corrosion.
Water treatment biocides are chemical agents used in water treatment processes. They are synthesized to eliminate microorganisms of all life stages and sizes. They are formulated to control the microbial growth in potable water, process water, open cooling systems, and down water services. The oil & gas industry is fueling the growth of the global water treatment biocides market to a greater extent. The oil & gas segment is expected to lead the market over the forecast period. Moreover, rising oil & gas exploration activities in countries, including Canada and the US, are fueling the demand for water treatment biocides in the oil & gas industry. Municipal water treatment, mining, and swimming pools are some of the niche applications where the water treatment biocides market has witnessed astonishing growth over the past few years. Increasing use of non-oxidizing biocides in pulp & paper industry and power plants is expected to create lucrative opportunities for the market players.
The global water treatment biocides market is concentrated with a few well-established players; these players are Albemarle Corporation; Dupont de Nemours, Inc.; Solenis, Ecolab Inc.; Innovative Water Care LLC.; Kemira OYJ; Nouryon; Suez; Veolia; and Italmatch Chemicals SpA, among others.
The report segments the global water treatment biocides market as follows:
By Product Type