Global Polycide Market Highlights over 2022 – 2031
The global polycide market is estimated to grow at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031. Polycide is a disinfectant and cleanser, generally used in the food and beverages industry to safely clean the surfaces. The growth of the market can be attributed to the growing demand for disinfecting cleansers across the various industry verticals. The market is primarily growing on the back of the increased demand for polycide in cleaning applications in the food and beverages industry, as it has biocidal properties. Biocidal properties refer to the ability of the solution to kill living microorganism, such as, fungi, bacteria, and others. Various food processing industries, including, bakery, breweries, and confectioneries deploy intensive use of yeast and abiotic bacteria, and hence, proper disinfection of surfaces and utensils is necessary. This application of polycide is anticipated to boost the market growth. Further, the growth in the food and beverages industry is also projected to encourage the market growth. For instance, the global functional foods and beverage industry generated a revenue of approximately USD 280 billion in 2021. Moreover, the increased health awareness amongst people, post the COVID-19 pandemic, is estimated to boost the market growth.
The market is bifurcated by form into liquid and solid, out of which, the liquid segment is anticipated to hold a substantial share in the global polycide market over the forecast period on account of high demand for liquid form of polycide, as it is easier to use for cleaning applications. CLICK TO DOWNLOAD SAMPLE REPORT
Major Macro-Economic Indicators Impacting the Market Growth
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favourable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
Global Polycide Market Regional Synopsis
On the basis of geographical analysis, the global polycide market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of growth in the chemical manufacturing industry, combined with the rising food and beverages industry in the region.
On the other hand, the market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the growing food and beverages industry in the region, backed by the changing lifestyles of people, along with rising disposable income. As per the report by National Health and Nutrition Examination Survey, 36% to 40% people consume fast food on any given day in the U.S.
The global polycide market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global polycide market includes the following segments:
Top Featured Companies Dominating the Market
FREQUENTLY ASKED QUESTIONS
Increasing demand for cleansers and disinfectants to boost the market growth.
The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022 – 2031.
The major players in the market are J.M. Huber Corporation, DynaChem Inc., Purestreak Chemicals, Oleon NV, Lascaray S.A., Chemol Company Inc, Shanghai Jiangqing International, Weifang Maochen Chemical, Valtris Specialty Chemicals ltd., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by form, application, and by region.
The liquid segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
High initial investment is estimated to hamper the market growth.
The Asia Pacific region is anticipated to provide more business opportunities over the forecast period owing to the growing food and beverages industry in the region.
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