The market for biocides is expanding due to the rising need for clean, potable water. There is a need for water because of the growing global population and the scarcity of freshwater resources. Moreover, it is anticipated that rising rates of waterborne illness will encourage the market expansion for biocides due to rising water contamination from industrial waste. In order to remove the bacteria from the water and make it safe to drink, biocides are used in the wastewater treatment process. Market expansion is being driven by rising demand for biocides from the oil and gas sector. Again, it is anticipated that rising oil and gas industry investment will fuel market expansion, together with rising offshore and onshore exploration activity.
The global Biocides Market is estimated to be valued at US$10,654 million in 2021 and is expected to exhibit a CAGR of 4.1 % over the forecast period (2021-2028).
Prominent Companies in the Biocides Industry:
1. AkzoNobel N.V.
Akzo Nobel N.V. engages in the production and sale of paints and coatings worldwide. Akzo Nobel N.V. was founded in 1646 and is headquartered in Amsterdam, the Netherlands. In July, AkzoNobel has completed the acquisition of the wheel liquid coatings business of Lankwitzer Lackfabrik GmbH, a deal which strengthens the company’s performance coatings portfolio.
2. Albemarle Corporation
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Albemarle Corporation was founded in 1887 and is headquartered in Charlotte, North Carolina. In February, 2022 Albemarle Corporation announced that it has signed definitive agreements with Mineral Resources Limited to restructure the parties' MARBL lithium joint venture in Australia ("MARBL") and separately for MinRes to invest in Albemarle conversion assets in China.
3. BASF SE
Founded in 1865 and based in Germany, BASF is the world's largest chemical company, with products spanning the full spectrum of commodities to specialties. In addition, the company is a strong player in agricultural crop protection chemicals and emissions control catalysts for cars and trucks.
4. Ashland Inc.
Ashland Inc. provides additives and specialty ingredients worldwide. Ashland Inc. was founded in 1924 and is headquartered in Wilmington, Delaware.
5. Clariant AG
Clariant AG operates as a specialty chemical company worldwide. It operates through three segments: Care Chemicals, Catalysis, Natural Resources. Clariant AG was founded in 1886 and is headquartered in Muttenz, Switzerland. In October, 2022 Clariant acquired BASF’s U.S. Attapulgite business assets for USD 60 million in cash
- Lanxess
LANXESS Aktiengesellschaft, a specialty chemicals company, develops, manufactures, and markets chemical intermediates, additives, specialty chemicals, and plastics worldwide. The company was founded in 1863 and is headquartered in Cologne, Germany.
- Lubrizol
The Lubrizol Corporation, a Berkshire Hathaway company, leverages its unmatched science and innovation to solve complex challenges for customers, drive sustainable and measurable results and help millions of people, communities and businesses around the world move cleaner, create smarter and live better every day. Founded in 1928, Lubrizol owns and operates more than 100 manufacturing facilities. It has headquarters situated in Ohio, USA.
- The Dow Chemical Company
Dow Inc. provides various materials science solutions for packaging, infrastructure, mobility, and consumer applications. Dow Inc. was incorporated in 2018 and is headquartered in Midland, Michigan. In January, 2023 Dow and partner Jaguar TCS Racing are gearing up for an exciting weekend at the upcoming Mexico City E-Prix to kick-off Season 9 of the ABB FIA Formula E World Championship.
*Definition- Chemicals known as biocides are employed to either eradicate or prevent the development of bacteria and fungi. In the oil and gas sector, biocides are also used to manage bacteria that break down sulfates and bacteria that produce slime.
