Market Size of Biocides Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Biocides Market Analysis
The biocides market is expected to register a CAGR of over 4% during the forecast period.
The bioethanol market was adversely affected by COVID-19 due to a halt in production and disruptions in the supply chain. However, the market recovered in the 2021-22 period owing to rising consumption from various end-user industries such as pharmaceuticals, food and beverages, and others.
- Over the short term, the increasing demand for water treatment plants globally and growing demand from the food and beverage industry are some factors driving the market demand.
- However, the market growth is hindered by environmental issues and health hazards related to the high usage of biocides.
- The increasing global awareness in the agricultural sector is likely to act as an opportunity for the biocides market over the forecast period.
- North America is expected to dominate the market during the forecast period.
