The global water treatment biocides market was valued at US$ 3,723. 67 million in 2019 and is projected to reach US$ 5,754. 43 million by 2027; it is expected to grow at a CAGR of 5. 7% from 2020 to 2027.
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Water treatment biocides are chemical agents used in water treatment processes.They are synthesized to eliminate microorganisms of all life stages and sizes.
They are formulated to control the microbial growth in potable water, process water, open cooling systems, and down water services.The water treatment biocides are mainly utilized for municipal water treatment, oil & gas, power plants, pulp & paper, mining, and swimming pools.
The oil and gas industry is fueling the growth of the global water treatment biocides market to a greater extent.The oil and gas segment is expected to lead the market over the forecast period.
Moreover, rising oil & gas exploration activities in countries, including Canada and the US, are fueling the demand for water treatment biocides in the oil & gas industry. Municipal water treatment, mining, and swimming pools are some of the niche applications where the water treatment biocides market has witnessed astonishing growth over the past few years. Increasing use of non-oxidizing biocides in pulp & paper industry and power plants is expected to create lucrative opportunities for the market players.
Based on application, the water treatment biocides market is segmented into municipal water treatment, Oil & Gas, power plants, pulp & paper, mining, swimming pools, and others.The oil & gas segment held the largest share in the global water treatment biocides market in 2019.
Biocides are used in all stages of oilfield development, from the initial drilling of the wells and the day to day production of Oil & Gas, to all aspects of the maintenance of the field.They play an important role in the life of an oilfield.
Also, they are a valuable tool in ensuring that Oil & Gas are produced safely and reliably. There are different kinds of biocides that are used in Oil & Gas industry.
In terms of product type, the global water treatment biocides market is segmented into oxidizing biocides and nonoxidizing biocides.Nonoxidizing biocides chemicals work through various exterminating processes, such as interfering with reproduction, stopping respiration, or lysing the cell walls.
Nonoxidizing biocides can be fed continuously to achieve a high enough concentration for a long enough period of time to kill the bacteria.
The water treatment biocides market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.Asia Pacific is estimated to register the fastest CAGR in the market during the forecast period.
An increase in disposable per capita income leads to higher demand for better lifestyle and pure drinking water, which further boosts the market for water treatment biocides in this region.