November 30, 2020
According to the research report titled ‘Halogen Biocides Market Size for Water Treatment Applications by Product, By End-Use, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2019 - 2026‘, available with Market Study Report LLC, global halogen biocides market is expected to surpass USD 1.8 billion by 2026.
Rapid industrialization and urbanization, growing concern towards environmental degradation, and increasing awareness regarding consumption of clean water are the major factors driving the growth of global halogen biocides market for water treatment applications.
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For those uninitiated, halogen biocides are widely adopted for water treatment purposes for inhibiting the growth of microorganisms as well as for treating wastewater discharged from various industries. Thus, rise in residential construction due to the growing population is propelling the industry growth. Also, focus towards reducing water borne diseases coupled with consumer inclination towards treating water before releasing is positively impacting the global halogen biocides industry from water treatment applications.
Additionally, increasing government initiatives as well as efforts taken by manufacturers to make strategic expansion including mergers & acquisitions for better efficiency and productivity is projected to accelerate the industry growth during forecast period.
According to the report, chlorine-based halogen biocides market share for oil & gas applications in North America is expected to record a CAGR of 3% through 2026, with U.S. being a major revenue generator. Focus towards being energy independent in the United States coupled with rapid expansion of oil & sector is facilitating the business scenario in North America. Meanwhile, the Asia-Pacific market is poised to witness considerable expansion in the upcoming years.
The competitive landscape of worldwide biocides market for water treatment applications is defined by companies such as Dow Chemical Company, Nouryon (Akzo Nobel), Lonza Group AG, Aditya Birla Chemicals India, Lenntech BV, SUEZ Water Technologies & Solutions, Clariant AG, Solenis (Ashland Water Technologies), Lubrizol Corporation, Albemarle Corporation, CAPCO Water Solutions Pvt. Ltd., Jordan Bromine Company Ltd., Iofina Chemical Inc., Solaris ChemTech Industries Ltd., Thor Group Ltd., Accepta Ltd., and DuPont de Nemours, Inc..