Algaecides Market Growth
According to Market Research Future (MRFR), Algaecides, also known as algicides, is a group of biocides used to kill or prevent the growth of algae. The algaecides market is expected to garner a revenue of USD 7127.56 Million by 2030, with a CAGR of 6.12% during the forecast period from 2022 to 2030
Algaecide is an effective chemical treatment that has been designed to prevent and kill algae growth. It is of two types - the cost-effective quaternary ammonia and metallic, including silver and copper. Algaecide Market Research is chosen based on a couple of factors such as water chemistry, the quantity of application, the species to be treated, and the quantity of application. Some of its prominent applications include surface water treatment, sports and recreational sites, aquaculture, and agriculture. Algaecides are extensively used in aquaculture for maintaining a viable condition for farm fishes to grow as well as protect the same against any adverse effects. Though chlorine can help in discouraging algae growth, other factors such as mineral and pH content, sunlight, and water temperature can encourage the growth of algae. Debris, rain, and swimmers too can introduce algae in the pool water. Algaecides will help in keeping the growth of algae at bay.
Growing awareness and concern about conservation of ecosystem and environment, rapid rate of industrialization, emergence of control and preventive measures for controlling the growth of algae due to growing need for preventing extensive pollution and environment degradation, ease of use and high efficiency, and innovative algaecide formulation are the various drivers of the market.
On the flip side, aquatic pesticide operating, and monitoring constraints and regulatory issues are factors that may impede the algaecides market growth over the forecast period.
Key Players
Leading players profiled in the algaecides market report include Airmax (US), SANCO INDUSTRIES, INC. (US), N. Jonas Company, Inc. (US), Oreq Corporation (US), Airmax, Inc. (US), BioSafe Systems, LLC (US), Waterco Limited (Australia), SePRO Corporation (US), UPL Limited (India), Lonza Group AG (Switzerland), Nufarm Limited (Australia), Dow (US), and BASF SE (Germany). Different strategies to create a foothold in the market include product innovations, product launches, research and development activities, partnerships/joint ventures, collaborations, expansions, and others.
Market Segmentation
The MRFR report provides a complete segmental analysis of the algaecides market report based on type, form, application, and mode of action.
Based on type, the algaecides market trends is segmented into synthetic algaecides and natural algaecides. Of these, the synthetic algaecides segment is predicted to have the largest share in the market over the forecast period.
Based on form, the algaecides market is segmented into liquids, granular, and others. Of these, the granular segment will dominate the market over the forecast period owing to its higher penetration and effectiveness in the algae cells.
Based on application, the algaecides market is segmented into aquaculture, surface water treatment, agriculture, and others. Of these, the agriculture segment will lead the market over the forecast period.
Based on mode of action, the algaecides market is segmented into non-selective algaecide and selective algaecide. Of these, the non-selective algaecide will have the maximum share in the market over the forecast period due to improved control on various algal species and high efficiency.
Regional Analysis
By region, the Key Algaecides Market Players report covers the latest trends and growth opportunities across North America, Europe, the Asia Pacific, and Rest-of-the-World (RoW). Of these, North America will dominate the market over the forecast period. Factors aiding growth in the region include government support to control pollution and growing demand for algaecides. The US and Canada are key contributors of this region.
The algaecides market in Europe is predicted to have the second-largest share in the market over the forecast period. This will be followed by the APAC region that is predicted to grow at the fastest pace over the forecast period. Factors aiding growth in the region include implementation of modern farming methods and growing awareness about algaecides in the region. India, as well as China, are the key contributors in the region. The algaecides market in Latin America and the Rest of the World is predicted to have high growth over the forecast period.
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