The global metal biocides market to grow at a CAGR of 4.60% during the period 2017-2021.
The report, Global Metal Biocides Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is establishments of biomedical metal industries globally. Medical device manufacturers are seeking to establish biomedical metal industries globally and are gradually moving offshore. Many medical device innovation centers were dominated by the US as of 2016. They are now more concerned about clinical data, new product registration, and the initial streams of revenue.
According to the report, one of the major drivers for this market is growing demand from emerging economies. The global metal biocides market is witnessing high growth in the emerging economies, such as India, China, Brazil, Russia, and Indonesia. Many OEMs of metal biocides are shifting their manufacturing operations to these countries due to factors such as the availability of land, cheap labor, low transportation costs, and less stringent government norms.
Further, the report states that one of the major factors hindering the growth of this market is high cost of environment-friendly metal biocides. With the growing concerns regarding environmental protection, consumers need to be aware of the environment-friendly products and their consumption. The goal of using environment-friendly metal biocides manufactured using products such as silver lower the emission of VOCs, thereby reducing the concerns regarding global warming.