Biocides Market: Oil & Gas Applications is Expected to Surpass USD 1 Billion by 2024
Oct 3, 2019
Halogen compounds-based biocides market may exceed USD 3.3 billion by 2024. They comprise of fluorine, chlorine, iodine, bromine and astatine
Selbyville, United States - October 3, 2019 /MarketersMedia/ —
Biocides market from oil & gas applications may surpass USD 1 billion by 2024. Oil & gas wells and storage zones have certain microorganisms like bacteria that produce hydrogen sulfide which can be explosive and combustible. Strong indicators towards minimizing functional fluids deterioration, corrosion control and growth in oil & gas production rates will boost product demand.
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LUX Assure, the UK based leading specialist in providing chemical monitoring solutions to the oil and gas industry, has taken a giant leap in biocides market. The company has recently launched the world’s first biocide mapping technology, TraxBioTM, which maps biocidal surfactants in oil and gas systems utilizing the chemical’s propensity to form micelles. These micelles are produced due to nanoscale clusters of biocides which are detected with LUX Assure’s latest technology. Furthermore, TraxBio would aid in making better decisions regarding the biocide dosage, which shall, in turn, result in cost savings for end-users of biocide chemicals. Apparently, this breakthrough innovation comes on the heels of the company’s plans to tap the burgeoning biocides industry size across the globe, which commanded a total valuation in excess of USD 8.5 Billion in 2016.
Halogen compounds based biocides market may exceed USD 3.3 billion by 2024. They comprise of fluorine, chlorine, iodine, bromine and astatine. They are effective microbial development control agents and pose less occurrence of resistance. Positive indicators towards drinking water, cooling water systems and surfaces disinfection owing to cost-effective properties over its counterparts will drive biocides market growth.
Phenolic based biocides market may witness growth of over 7% by the end of projected period. They are used to preserve aqueous based metalworking fluids in metalworking industry as they have a broad spectrum of activity against both fungi and bacteria. Increase in demand from food packaging, healthcare industries will propel market demand.
Europe, led by UK, France, Poland, Italy and Germany biocides market may register growth at over 4.5% by the end of foreseeable timeframe. Growth in pharmaceutical, healthcare and food processing industries along with increase in construction spending in residential sector owing to massive movement of migrants to western countries such as the Netherlands and Germany may stimulate regional industry growth.
Speaking of the global biocides market hierarchy, the industry could be termed as highly combative owing to the presence of established companies such as Dow Chemical, BASF SE, Troy Corporation, Lanxess Aktiengesellschaft, Solvay, Albemarle, Akzo Nobel N.V., and Thor Group. The leading biocides market giants are increasingly focusing on mergers and acquisitions to strengthen their production capability and fortify regional presence. Akzo Nobel N.V., for instance, has recently announced to purchase the business of V.Powdertech Co. Ltd., the leading manufacturer of powder coatings, to complement its existing technology portfolio.
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The acquisition is set to positively influence one of the vital applications of biocides, that is paint and automotive coatings, which is forecast to exceed USD 15 Billion by the rising demand from automotive, marine, aviation, and construction sectors. Further mergers and acquisitions, partnerships and collaborations are strongly anticipated in the ensuing years. In terms of commercialization potential, the biocides market is forecast to hit a revenue USD 13 Billion by 2024, according to the recently published research report by Global Market Insights, Inc.
Some Points From Table Of Content: -
Chapter 4 Biocides Market, By Product
4.1 Biocides industry share by product, 2016 & 2024
4.2 Halogen compounds
4.2.1 Market estimates & forecasts, 2013-2024, (USD Million)
4.2.2 Market estimates & forecasts, by region, 2013-2024, (USD Million)
4.3 Metallic compounds
4.3.1 Market estimates & forecasts, 2013-2024, (USD Million)
4.3.2 Market estimates & forecasts, by region, 2013-2024, (USD Million)
4.4 Organosulfurs
4.4.1 Market estimates & forecasts, 2013-2024, (USD Million)
4.4.2 Market estimates & forecasts, by region, 2013-2024, (USD Million)
4.5 Organic acids
4.5.1 Market estimates & forecasts, 2013-2024, (USD Million)
4.5.2 Market estimates & forecasts, by region, 2013-2024, (USD Million)
4.6 Phenolics
4.6.1 Market estimates & forecasts, 2013-2024, (USD Million)
4.6.2 Market estimates & forecasts, by region, 2013-2024, (USD Million)
4.7 Nitrogen
4.7.1 Market estimates & forecasts, 2013-2024, (USD Million)
4.7.2 Market estimates & forecasts, by region, 2013-2024, (USD Million)
4.8 Other
4.8.1 Market estimates & forecasts, 2013-2024, (USD Million)
4.8.2 Market estimates & forecasts, by region, 2013-2024, (USD Million)
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/biocides-market
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Info:
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.
Address: Global Market Insights, Inc., 4 North Main Street,
Phone: 3028467766
Website: https://www.gminsights.com/pressrelease/biocides-market-size
Source: MarketersMedia
Release ID: 88925188
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