Algaecide Market Analysis by Segments, Size and Forecast | 2024

Algaecides are used to prevent the growth of algae in water bodies. Their rising use in aquaculture, agriculture, and water surface treatments is expected to create lucrative growth prospects for the global algaecide market. In a report, titled “Algaecide Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024,” Transparency Market Research (TMR) studies various trends prevalent in the market. It is intended to help key players gauge investment feasibility in the global algaecide market. It covers various segments within the market exhibiting promising growth opportunities besides growth drivers and restrains influencing its trajectory between 2016 and 2024.

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Over the last few years, the use of algaecides has considerably increased. Experts attribute this positive rise to the growing focus towards aqua life and plant health. Due to their compositions, algaecides are used in water surface treatment, aquaculture, and agriculture to prevent algae growth. In response to the continuously rising population, the demand for improved agricultural yield has scaled higher. Improving plant health is imperative to boost agricultural produce, which is a chief driver of the global algaecide market.

Algaecides are an important inclusion in modern farming practices. Therefore, the rising acceptance of advanced technologies and agricultural practices for a protected agriculture will offer attractive growth opportunities to the global algaecide market. Furthermore, the market is likely to gain from rapid industrialization and urbanization witnessed worldwide. These phenomenon often cause growth of algae, which in turn necessitates the use of algaecides. In addition to this, the increasing use of algaecides in recreational and sports centers is likely to boost the global market. On the downside, several health and environmental hazards are related to the use of algaecides. This is a key challenge faced by the global algaecide market.

For an in-depth analysis, the global algaecide market can be segmented into aerosols, liquid, solid, powder, and other categories in terms of physical state of algaecides. On the basis of grade, the market can be classified into analytical grade, technical grade, reagent grade, bio-tech grade, and other. Based on product, chelated copper formulations, copper sulfate, sodium carbonate peroxyhydrate formulations, endothall, peroxyacetic acid & hydrogen dioxide, and QAC are among the key segments in the market. Application-wise, the global algaecide market can be segmented into sports and recreational centers, aqua farming, surface water treatment, and others.

As per TMR regionally, North America constituted the leading share in the global algaecide market in 2015. Nutrient pollution is a critical, expensive, and widespread concern in North America. Given the scenario, the region’s regulatory framework lays strong emphasis on mitigating this concern. Such regulations create a favorable environment for the market’s growth in North America.

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Some of the leading companies operating in the global algaecide market are The Dow Chemical Company, UPL Limited, Nufarm Limited, BASF SE, Waterco Limited, SePRO Corporation, Airmax, Inc., Lonza Group AG, BioSafe Systems LLC, and Oreq Corporation.

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