Asia-Pacific shows incredible opportunity for biocides market with the rising health awareness related to bacterial growth in the counties such as Japan, Korea, Australia & New Zealand, Indonesia, Thailand, and Vietnam that is likely to drive the growth of the Asia-Pacific biocides market.
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Increased focus on hygiene and growing concern over spreading of infectious diseases are the driving factors that majorly impact the biocides market. Other factors such as technological innovations and growing demand from paints & coatings, disinfection, and water treatment industry also boost the growth of this market. Stringent regulations regarding food safety and increased adoption of biocides in water disinfection and agriculture applications are also among the key factors driving the biocides market growth in this region.
In terms of volume, paints & coatings application segment is the largest and the fastest-growing segment in the Asia-Pacific biocides market. The increasing demand for paints in new construction and building maintenance applications drives the paints & coatings industry in biocides market.
In terms of both value and volume, Japan is the largest market for biocides in Asia-Pacific. Technological developments in Japan have boosted the growth of biocides market to address the industry’s customization needs, consequently improving the demand for biocides in the country.
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Vietnam is the fastest-growing country, followed by Indonesia and Thailand. Growth of various end-user industries, such as paints & coatings, wood preservation, polymer emulsions, and concrete admixtures, among others, are some of the factors that are driving the growth of the biocides market.
The major players in the biocides market have undertook various development strategies in recent years. New product launches and product developments, agreements & contracts, expansions, joint ventures, and acquisitions are some of the key strategies undertaken by major companies such as The Dow Chemical Company (U.S.), Thor Group Limited (U.K.), Troy Corporation (U.S.), Lonza Group Limited (Switzerland), Clariant AG (Switzerland), Schülke & Mayr GmbH (Germany), Ashland Inc. (U.S.), and others. Each of these player has a strong presence across the globe in order to meet the growing demand from various end-user industries.
