The global water treatment biocides market size is projected to reach USD 4.7 billion by 2024 from the estimated USD 3.5 billion in 2019, at a CAGR of 6.2% between 2019 and 2024. Water treatment biocides are active substances or chemicals used to destroy or prevent the growth of any microorganisms, such as bacteria and fungi.
They are used in water-intensive applications, where the growth of microorganisms can create problems, such as microbially influenced corrosion (MIC) and anti-fouling, among others. The growing water scarcity and depletion of freshwater and groundwater resources have led to the increasing use of water treatment biocides.
Based on product type, the water treatment biocides market is segmented into oxidizing biocides and non-oxidizing biocides. The non-oxidizing biocides led the water treatment biocides, in terms of value, in 2018. The growing demand for non-oxidizing agents in applications such as oil & gas, power plants, and pulp & paper, among others is driving this segment of the market.
Based on application, the water treatment biocides market is segmented into municipal water treatment, oil & gas, power plants, mining, pulp & paper, swimming pools, and others. The others segment comprises reverse osmosis membranes, poultry, and food & beverage.
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The oil & gas application accounted for the largest share of the market in 2018, in terms of value. This is because of the growing oil & gas exploration, globally where water treatment biocides are used for proper control of bacteria and other microorganisms in various applications, such as hydraulic fracturing and produced water systems, among others.
North America is estimated to be the largest water treatment biocides market by 2024, in terms of value. This is due to the presence of the major manufacturers of water treatment biocides in the region, including DuPont (US), Ecolab Inc. (US), Solenis (US), Innovative Water Care (US), and Albemarle Corporation (US), among others.
In addition, the increasing awareness regarding the need to recycle and reuse water are the other factors driving the demand for water treatment biocides in the region.
DuPont (US), Ecolab Inc. (US), Solenis (US), SUEZ (France), Innovative Water Care (US), BWA Water Additives (UK), Kemira Oyj (Finland), Veolia (France), Nouryon (Netherlands), Albemarle Corporation (US), LANXESS Group (Germany), and ICL Group (Israel), among others are the leading manufacturers within the global water treatment biocides market.
These players are focusing on the strategy of new product launch to cater to the specific demands of the end users. They have also adopted the strategy of contract & agreement and expansion to increase their market reach, enhance their product portfolio, and strengthen their market position.
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