CHICAGO, Oct. 23, 2019 /PRNewswire/ -- According to the new market research report "Water Treatment Biocides Market by Product Type (Oxidizing Biocides, Non-Oxidizing Biocides), Application (Oil & Gas, Municipal Water Treatment, Power Plants, Mining, Pulp & Paper, Swimming Pools), and Region - Global Forecast to 2024", published by MarketsandMarkets™, the Water Treatment Biocides Market size is projected to reach USD 4.7 billion by 2024, at a CAGR of 6.2% during the forecast period.
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The growing scarcity of water and the presence of stringent regulations regarding the use of biocidal products are expected to drive the water treatment biocides market. In addition, the growing population, and increasing urbanization are driving the demand for potable water, which in turn is estimated to boost the water treatment biocides industry.
The non-oxidizing biocides segment led the water treatment biocides market, by product type, in 2018.
Non-oxidizing biocides led the product type segment of water treatment biocides industry, in 2018, in terms of value. The growing demand for non-oxidizing biocides, such as glutaraldehyde, isothiazolinones, and quaternary ammonium compounds in applications, such as oil & gas, pulp & paper, and power plants are driving the market in this segment.
Oil & gas was the largest application of water treatment biocides in 2018.
Oil & gas was the largest application of water treatment biocides, in terms of value, in 2018. Oil & gas is a water-intensive industry, and the need for microbial control for operational efficiency is driving the demand for water treatment biocides in this industry. In addition, increasing oil & gas production in North America and the Middle East is another factor driving the market in this application segment.
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Europe led the water treatment biocides market in 2018.
Europe was the largest market for water treatment biocides in terms of value in 2018. This is owing to the higher price of water treatment biocides backed by stringent regulations by Biocidal Products Regulations (BPR). In addition, the presence of major manufacturers in the region, such as SUEZ (France), BWA Water Additives (UK), Kemira Oyj (Finland), Veolia (France), Nouryon (Netherlands), and LANXESS Group (Germany), is another factor driving the demand for water treatment biocides in the region.
The key Water Treatment Biocides Market players profiled in the report include DuPont (US), Solenis (US), Ecolab Inc. (US), SUEZ (France), BWA Water Additives (UK), Kemira Oyj (Finland), Veolia (France), Innovative Water Care (US), Nouryon (Netherlands), LANXESS Group (Germany), Albemarle Corporation (US), and ICL Group (Israel), among others.
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