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Part
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Biocides Market Size - US and Canada
Our research team estimated the size of the United States & Canada biocides market to be $3.52 billion.
OVERVIEW
- In the last decade, the growth in the United States biocide market has been driven by the energy sector; however, the biocide market growth is expected to decelerate owing to a slowdown in oil & gas drilling.
- The food & beverages, toiletries, and cosmetics market will drive the consumption of biocides as consumer preferences tilt towards "clean label" goods in the United States.
- The global biocide market growth is driven primarily by the increase in construction activity in developing countries and the rising need for water treatment.
- The growth in infrastructure, developments in municipal water treatment, and healthcare will also contribute to the growth of the market in US & Canada.
- Lonza Group Ltd. (Switzerland), Dow Chemical Company (U.S.), and Troy Corporation (U.S.) are some key companies that operate in the North American biocide market.
FINDINGS
- The size of the United States biocide market is $3.25 billion.
- The size of Canada's biocide market is $271 million.
- The collective size of US & Canada's biocide market is $3.52 billion
- The size of North America's biocide market is $3.71 billion.
RESEARCH STRATEGY
In order to fulfill this request, we browsed through research reports published by agencies such as Adroit Market Research, Gos Reports, Data Bridge, and IHS Markit; industry portals such as Chemical Watch, International Association for Soaps,
Detergents and Maintenance Products, and American Chemistry, and websites of biocide manufacturing companies like Ecolab, Hexion, Troy Corporation, Dow Chemical Company, and ChemTreat. While we were able to find the global and North America market sizes, we did not find anything specific to the United States and Canada. On expanding the research time frame beyond two years, we found relevant data for the United States; however, the required information was not found for Canada. Given this limitation, we triangulated an estimate using the data points we had gathered.
The size of the North America biocides market:
According to Gos, the North American biocides market was expected to grow at 4.8% CAGR. This would put the 2017 market size at $3.83 billion (calculated using Omni Calculator).
Estimates for the size of the global biocides market:
Estimates for North America's market share:
Using the above data, we determined a range for the size of the North American biocides market.
Lower limit of range = ReportsnReports global market size (the lowest global estimate) * IHS Markit's estimated market share for North America (the lowest market share estimate) = 8.61 billion * 39% = $3.36 billion
Upper limit of range = $3.83 billion
All the data we came across sources suggest that the value of North America's biocides market is worth between $3.36 billion and $3.83 billion. This is a reasonably narrow range. We have stuck to the Adroit Research ($3.71 billion) figure for further triangulation as it is only recent precompiled estimate we found and it concurs with data derived from other sources.
The North American market comprises three countries: United States, Canada, and Mexico. Assuming that the size of the biocides market of each country is in the proportion of their GDPs, US' share of the North American biocides market will be 87.48% and Canada's share will be 7.30%. Calculations for the same have been shown in the attached spreadsheet.
Therefore, the size of the United States biocide market = 87.48%* $3.71 billion = $3.25 billion
And, the size of Canada's biocide market = 7.30% *$3.71 billion = $271 million
Collectively, the size of the US & Canada market = $3.52 billion
Freedonia estimates the value of the United States biocides market to be $3.4 billion (2016). This is close to the estimated value, giving credence to the triangulation method.