The metal biocide market is expected to register a CAGR of over 4% during the forecast period. One of the main factors driving the market is the growing demand for metal biocides from paints and coatings. However, government regulations for the production and consumption of metal biocides are expected to hinder the growth of the market studied.
- The growing demand for metal biocides from the medical industry is likely to act as an opportunity for the market studied in the coming years.
- By application, metal biocide from paints and coatings is expected to dominate the market over the forecast period.
- The Asia-Pacific region is expected to dominate the market, with the largest consumption from countries, such as China and India.
Key Market Trends
Growing Demand for Metal Biocide from Paints and Coatings
- Metal biocide is a substance intended to destroy, deter, render harmless, and suppress harmful organisms that can cause damage to natural or manufactured materials.
- Additionally, metal miocides are used in formulations to keep bacteria from spoiling paint during storage, or to keep fungi, algae, and other micro-organisms from growing on the applied paint.
- Biocide is effective to inhibit the growth of algae and fungi in household paint, varnishes, marine antifouling paint, and industrial paint.
- The market for paints and coatings is expected to grow significantly, due to rapidly increasing housing construction activities and modern advances in paint technology.
- Hence, owing to the above-mentioned factors, the application of metal biocide from paints and coatings is likely to dominate during the forecast period.
The Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the market for metal biocide during the forecast period. The rising demand of metal biocide from paints and coatings, with growing population and construction activities in developing countries, like China and India, is expected to drive the demand for metal biocide in this region.
- The largest producers of metal biocide are located in the Asia-Pacific region. Some of the leading companies in the production of metal biocide are BASF SE, Clariant, DOW, Milliken Chemical Company, and Lonza.
- The Indian government initiatives, such as Housing for All, and the government’s flagship scheme PMAY, aim to build 20 million urban homes and 30 million rural houses by 2022, Smart Cities are fueling the growth of the urban infrastructure and construction development.
- In April 2019, the Government of China invested around USD 73 billion for constructing key transportation projects, which include railways, highways, waterways, airports, and urban rail.
- Owing to the above-mentioned factors, the market for metal biocide in the Asia-Pacific region is projected to grow significantly during the study period.
The metal biocide market is partially fragmented in nature with only a few major players dominating the market. Some of the major companies are BASF SE, Clariant, Dow, Milliken Chemical Company, and Lonza.
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