Slimicides Market Trends

Growth Drivers

• Boom in Online Shopping with Increasing Internet Penetration – The escalation of online shopping has prompted the production of paper for packaging which in turn is estimated to foster the demand for slimicides. According to recent estimates, in 2021, over two billion people bought goods and services online. Further, in 2020, e-retail sales surpassed 4.2 trillion U.S. dollars worldwide.

• Growth in the Production of Packaging Paper with Rising Adoption of Ec0-Friendly Products – The adoption of paper packaging across various industries such as food & beverages, bakery, confectionery, personal care & cosmetics, and others, are expected to boost the demand for papers and slimicides. It was estimated that the global packaging paper and board production value was 256,130 metric tons in 2018, up from 235,500 metric tons in 2016.

• Expansion of the Oil Industry with Increasing Consumption in Many Industries as a Fuel Source – To prevent gas souring, pipeline clogging, and microbial-induced corrosion of equipment and transportation pipes from microbial growth, slimicides are used in the oil industry. Thus, the rising consumption of oil worldwide is anticipated to fuel the demand for the slimicides market. The global oil consumption in 2021 was calculated to be 4.25 billion metric tons, a rise from 4 billion in 2020. Furthermore, it was estimated that the total revenues generated from the oil and gas drilling sector in 2021, were approximately USD 2.1 trillion.

• High Expenditure on Chemical Industry with Rising Use in Textiles and Painting Sector – The capital expenditure on the global chemical industry is projected to be USD 239 billion in 2023. This is a significant rise from USD 220 billion in 2020.

Challenges

• Growing Environmental Concerns Due to the High Production of Water Waste
• Huge Amount of Tree Cutting
• Side effects Imposed by Chemicals - The increasing side effects of chemicals on the health of humans, animals, and marine life is estimated to hamper the market growth in the coming years. The slimicides are made of chemicals such as organic sulfur, Bromium, ammonium compounds, and aldehydes which are harmful when released into the environment.