Silver-based Biocides to Lead Global Metal Biocides Market till 2024
Discovery of new application areas for metal biocides
and growing paints & coatings industry to fuel global metal biocides market
through 2024
According to TechSci
Research report, “Global Metal Biocides Market
By Type, By End-Use Industry, By Region, Competition, Forecast &
Opportunities, 2024”, global
metal biocides market is projected to reach $ 3.5 billion by 2024,
growing at a CAGR of 5% during the forecast period. Key factors expected to drive
the market are expanding paints & coatings industry and discovery of new
application areas for metal biocides. However, existence of substitute products
and regulatory restrictions on certain metal biocides are likely to hinder
market growth during the forecast period.
Based on type, global metal biocides market has been segmented into
silver, copper & alloys, zinc and others. Silver-based metal biocides
segment is expected to register strong growth in the coming years, owing to its
non-toxic, flammable, eco-friendly and sustainable nature. Moreover, silver
biocides have effectiveness, high thermal stability and unsurpassed safety,
owing to which its adoption is growing in textile and medical industries. North
America dominated global metal biocides market in 2018 and is anticipated to continue
its market dominance during the forecast period. Flexible regulations for the
use of silver biocides and discovery of new application areas for metal
biocides are the major factors expected to fuel the region’s metal biocides
market during forecast period.
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“Demand for
metal biocides is the highest in medical segment, owing to the effectiveness of
silver nanoparticles against infections on the surfaces of bone implants. The
silver and copper-based biocides are utilized in various medical applications,
including wound dressings, medical device coatings, medical textiles and
sterilizations. Thus, medical segment would emerge as the largest demand
generating end user in global metal biocides market in coming years”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global
Metal Biocides Market By Type, By End-Use Industry, By Region, Competition,
Forecast & Opportunities, 2024” has evaluated the future
growth potential of global metal biocides market and provides statistics and
information on market structure, size, share and future growth. The report is
intended to provide cutting-edge market intelligence and help decision makers
to take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities present in global metal biocides market.
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TechSci Research
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