Scienza e Tecnologia
Metal Biocides Market to Garner $5.87 Billion, Globally, By 2031 at 4.8% CAGR, Says Allied Market Research
Increase in investments in building infrastructure in countries such as the U.S., China , Japan , Mexico , and India , usage of metal biocides in various cosmetic formulations, and rise in awareness about cleanliness and hygiene drive the growth of the global metal biocides market. However, availability of substitutes such as chelating molecules, scavengers, isothiazolinone, phenols, and alcohols restricts the market growth. Moreover, increase in purchasing power of consumers and fast-paced lifestyles have boosted the sales of packed food items in developed and developing economies where metal biocides are widely used in the food industry as disinfectants and food preservatives. This factor presents new opportunities in the coming years.
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Based on type, the silver segment held the highest market share in 2021, accounting for nearly half of the global metal biocides market, and is estimated to maintain its leadership status throughout the forecast period. This is due to the increase in building and construction activities based on a modern theme-based architecture that has surged the popularity of anti-microbial paints where silver-based biocides are used to inhibit the growth of bacteria and algae. However, the copper segment is projected to manifest the highest CAGR of 5.1% from 2022 to 2031. This is attributed to the scarcity of potable water that surged the water treatment activities in both developed and developing economies where copper-based biocides are widely used as disinfectants for maintaining the quality of stored potable water.
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Based on application, the paints and coatings segment accounted for the largest share in 2021, contributing to more than one-third of the global metal biocides market, and is projected to maintain its lead position during the forecast period. This is due to the rise in population that led the building & construction sector in which metal biocides are widely used to resist the growth of bacteria, fungi, algae, and others on the applied paints & coatings. However, the medical segment is expected to portray the largest CAGR of 5.4% from 2022 to 2031. This is attributed to the increase in the incidence of hospital-associated infections (HAIs) caused notably by bacterial pathogens such as methicillin-resistant Staphylococcus aureus (MRSA), which, in turn increased the sales of metal biocides used for sanitization purposes.
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for nearly two-fifths of the global metal biocides market. Moreover, the same region is expected to witness the fastest CAGR of 5.2% from 2022 to 2031. China's paints & coatings manufacturing sector is increasing rapidly, forcing metal biocides manufacturers to produce efficient metal biocides used as disinfectants and food preservatives. Other regions mentioned in the report are North America , Europe , and LAMEA.
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