Discovery of new application areas for metal biocides and growing paints & coatings industry to fuel global metal biocides market through 2024
According to TechSci Research report, “Global Metal Biocides Market By Type, By End-Use Industry, By Region, Competition, Forecast & Opportunities, 2024”, the global metal biocides market is projected to reach $ 4.5 billion by 2024. Key factors expected to drive the market are expanding paints & coatings industry and discovery of new application areas for metal biocides. However, existence of substitute products and regulatory restrictions on certain metal biocides are likely to hinder market growth during the forecast period.
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Based on type, global metal biocides market has been segmented into silver, copper & alloys, zinc and others. Silver-based metal biocides segment is expected to register strong growth in the coming years, owing to its non-toxic, flammable, eco-friendly and sustainable nature. Moreover, silver biocides have effectiveness, high thermal stability and unsurpassed safety, owing to which its adoption is growing in textile and medical industries. Asia-Pacific region dominated global metal biocides market in 2018 and is anticipated to continue its market dominance during the forecast period. Flexible regulations for the use of silver biocides and discovery of new application areas for metal biocides are the major factors expected to fuel the region’s metal biocides market during forecast period.
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“Demand for metal biocides is the highest in pesticides segment, owing to the effectiveness of nanoparticles to combat the undesirable organisms. The silver and copper-based biocides are utilized in various agricultural applications, including high value crops. Thus, pesticides segment would emerge as the largest demand generating end user in global metal biocides market in coming years”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Metal Biocides Market By Type, By End-Use Industry, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global metal biocides market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in global metal biocides market.
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