Metal Biocides Market to Grow with a CAGR of 4.82% through 2028
Surge in research and development activities is expected to drive the Global
Metal Biocides Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Metal
Biocides Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Metal Biocides Market stood
at USD3.66 billion in 2022 and is anticipated to grow with a CAGR of 4.82% in
the forecast period, 2023-2028. The initiatives taken by government based on metal
biocides has led to favorable market conditions for the Global Metal Biocides
Market. Several factors contribute to the growth of various metal biocides products.
In the United States, the Environmental Protection Agency (EPA) is taking
proactive measures to streamline the risk assessment and mitigation process
under the Toxic Substances Control Act (TSCA). By implementing a more efficient
regulatory framework, the EPA aims to effectively manage the production and use
of various substances, including metal biocides. These substances, due to their
potential environmental and health impacts, often undergo thorough regulation.
The EPA's initiative will have implications for the metal biocides industry,
influencing their production practices and usage guidelines. This shift in
regulatory approach is aimed at safeguarding both the environment and public
health, while ensuring the continued availability of effective biocidal
solutions.
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Metal Biocides Market”
In the world of
biocides, research, and development (R&D) plays an integral role in driving
innovation and enhancing the efficiency of products. Through ongoing efforts,
scientists and experts strive to develop new biocidal products and continuously
improve existing ones, contributing significantly to the growth of the metal
biocides market. Moreover,
R&D initiatives are crucial in addressing the challenges posed by microbial
resistance, which is a growing concern in the use of biocides. By investing in
research and development, researchers can delve deeper into understanding the
mechanisms of microbial resistance and develop targeted solutions. They can
work towards formulating new and advanced biocidal products that are effective
against emerging resistant strains of microorganisms. Additionally, by
improving the efficacy of existing biocides, researchers can ensure the
continued effectiveness and longevity of metal biocides in various
applications.
The continuous
advancement in R&D efforts not only drives the progress in the metal
biocides industry but also contributes to the overall sustainability and safety
of biocidal products. It enables the development of more environmentally
friendly and efficient solutions, promoting responsible use and minimizing
potential risks to human health and the environment. In summary,
research and development are essential pillars in the world of biocides,
leading to continuous innovation, improved product efficiency, and the ability
to address emerging challenges such as microbial resistance. By investing in
R&D, the metal biocides market can continue to grow and meet the evolving
needs of various industries while ensuring the safety and effectiveness of
biocidal products.
The Global Metal
Biocides Market is segmented into type, end user, regional distribution, and company.
Based on its end user, the paints &
coatings segment held the largest share in the market. Metal Biocides are
commonly used in various formulations to protect paints and coatings from
bacterial contamination, which can lead to spoilage during storage. These
biocides also exhibit effective properties in inhibiting the growth of algae,
fungi, and other microorganisms in household paint, marine antifouling paint,
industrial paint, and varnishes.
The market for paints and coatings is experiencing
significant growth due to advancements in paint technology and increased
housing construction activities. For instance, according to the India Brand
Equity Foundation, the residential building sector is projected to witness a
substantial expansion in 2021. The Indian government has set ambitious targets
of constructing 20 million affordable houses in metropolitan areas across the
country under the Pradhan Mantri Awas Yojana (PMAY) scheme initiated by the Union
Ministry of Housing and Urban Affairs.
As a result, the booming construction activities
necessitate a higher demand for paints and coatings, consequently driving the
growth of the Metal Biocides market. These biocides are increasingly being
utilized in paints and coatings to ensure long-lasting protection and quality
performance in various applications.
Based on region, Asia Pacific segment is expected to
grow during the forecast period.
The increasing requirement for metal biocides in
developing countries such as China, Japan, India, and South Korea can be
attributed to several factors. In China, for example, the growth of the
building and construction industry has played a significant role in driving the
demand for metal biocides. According to the International Trade Administration
(ITA), China holds the title of the world's largest construction market and is
projected to experience an annual average growth rate of 8.6% between 2022 and
2030. This rapid growth presents a lucrative opportunity for the metal biocides
market, as the building and construction industry in China alone is estimated
to reach a staggering US$1.4 trillion by 2025, as reported by Invest India.
These building and construction activities in the
Asia-Pacific (APAC) region, including countries like China, Japan, India, and
South Korea, are expected to drive the demand for metal biocides products in
the forecasted period. As a result, the metal biocides market in this region is
experiencing a significant boost in size. With the increasing focus on
sustainable construction and the need for effective antimicrobial protection,
metal biocides are playing a crucial role in ensuring the longevity and safety
of various construction projects in the APAC region.
Major companies operating in Global Metal Biocides
Market are:
- BASF SE
- Clariant AG
- Dow Inc.
- Milliken Chemical Company
- Lonza Group AG
- Troy Corporation
- SteriTouch Ltd
- Noble Biomaterials Inc.
- Renaissance Chemicals Ltd
- LANXESS AG
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“Growing application of metal biocides in various end
user industries are key drivers of the metal biocides market. Growth in
competitive landscape and presence of well-established companies in the market
who are dedicated to enhance their productivity of metal biocides with every
passing year are anticipated to register an impressive growth to Global Metal
Biocides Market in the forecast period.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Metal Biocides Market By Type (Zinc, Silver,
Copper & Alloys, Others), By End User (Medical, Textile, Wood Preservation,
Paints & Coatings, Food & Beverages, Pesticides, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Metal Biocides Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Metal Biocides Market.
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