Global Algaecides Market - 2023-2030

Market Overview

The global algaecides market reached US$ XX million in 2022 and is projected to witness lucrative growth by reaching up to US$ XX million by 2030. The market is growing at a CAGR of 7.2% during the forecast period (2023-2030).

Algae or cyanobacteria are killed by algaecide, which is also used to stop their growth. There are two different kinds of algaecides, natural and synthetic. They are typically employed to prevent planktonic, branched, and filamentous algae. Algaecide effectiveness is influenced by a number of variables, including product formulation, water chemistry, and application amounts. In addition to killing phytoplankton, it is also used to stop or scale back large blooms. It comes in a variety of forms, including liquid, granular, and pallets. Surface waters are injected with it or sprayed with it.

Market Dynamics

Increasing concern and awareness about protecting the environment and ecosystem

Growing consumer awareness of the negative effects of algae formation encourages the use of algaecides. Algae have a negative impact on both human and marine health. Many governmental organizations and businesses are concentrating on raising consumer awareness of algaecides in order to prevent or stop the growth of algae. Thus, the market expands as people's concerns and awareness about protecting the environment and ecosystem grow.

The rising demand for algaecides across a range of end uses

Aquaculture and surface water treatment both make extensive use of algaecides. To stop the growth of algae and aid in the effective operation of aquaculture and surface water treatment, many businesses and manufacturers offer algaecides. The market is expanding due to the increasing demand for algaecides in numerous end-use industries like aquaculture and surface water treatment. For instance, the U.S. aquaculture industry claims that all stages of marine bivalve molluscs (clams, oysters, and scallops), the larval stages of some marine gastropods (abalone, conch), larvae of several marine fish species, penaeid shrimp, and zooplankton depend on micro-algae as a food source.

COVID-19 Impact Analysis

The COVID-19 analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with pricing dynamics (including pricing change during and post-pandemic comparing it with pre-COVID scenarios), demand-supply spectrum (shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), government initiatives (initiatives to revive market, sector or industry by government bodies) and manufacturers strategic initiatives (what manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global algaecides market is segmented based on type, form, mode of action, application and region.

The chelated copper segment holds a significant market share in the global algaecides market

The chelated copper segment accounted for the largest share due to the rise in consumer preference towards copper compounds in order to treat a larger range of algae species. An algaecide, which frequently makes use of copper sulfate or chelated copper, is essentially just a substance that can kill or reduce algae. As it attaches to the pond's algae and blocks photosynthesis, copper is effective at killing algae. One of the best remedies for treating algae problems in ponds and lakes is copper algaecide when used properly. They have a number of other copper algaecides besides Captain that can get rid of algae, which results in lucrative sales in the segment.

Geographical Analysis

North America holds the highest share in the global algaecides market

The algaecides market in the U.S. is booming. Algaecides are being used largely by the thriving agriculture sector to protect high-quality crops and address algae-related problems. The presence of a wide network of water bodies including lakes, rivers, and reservoirs in the country has also contributed to increasing demand for algaecides as a strategy to increase water quality and preserve both water conservation and public health. The demand for algaecides is also growing as more people participate in water-based activities. The rising middle class in the U.S. is driving the rise of these activities, and algaecides serve a critical role in providing high-quality water and minimizing algae-related concerns.

On the other hand, Asia-Pacific is the fastest-growing region in the world. The market for algaecides in China is expanding quickly, and a number of factors make it a desirable location for market participants. The emphasis on water conservation in China is one of the main factors influencing algaecides sales.

Competitive Landscape

The major global players in the market include: BASF SE, Dow, Nufarm Limited, Lonza Group AG, UPL Limited, SePRO Corporation, Waterco Limited, BioSafe Systems, LLC, Airmax, Inc., and Oreq Corporation among others.

Why Purchase the Report?

• To visualize the global algaecides market segmentation based on type, form, mode of action, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of algaecides market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global algaecides market report would provide approximately 53 tables, 54 figures and 195 pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Emerging Companies