The algaecides are widely used for both aquaculture and surface water treatment. Many companies and manufacturers provide algaecides to prevent algae growth and help efficiently work aquaculture and surface water treatment. Rising demand for algaecides in various end-use applications such as aquaculture and surface water treatment and a spike in demand for air conditioning systems are drivers for the global algaecides market.
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Data Bridge Market Research analyses that the Global Algaecides Market is expected to reach the value of USD 7,127.56 million by the year 2029 from USD 4179.4 million in 2021, at a CAGR of 6.9% during the forecast period. The increasing demand for algaecides will provide potential opportunities for the market growth in the forecast period.
Increasing expansion of the agricultural sector is anticipated to drive the market's growth rate
The high growth of agriculture directly assures more and more use of algaecides to enhance production and crop quality. For instance, as per the U.S. Department of Agriculture (USDA), in 2020, $ 1.05 trillion, or 5.0% of the U.S. GDP, came from agriculture, food, and associated businesses. Furthermore, approximately 0.6% of GDP, or $ 134.7 billion, came from the produce of American farmers. Thus, the wide expanse of the agricultural sector is boosting the growth of the agricultural algaecides market.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Copper Sulfate, Quaternary Ammonium Compounds, Chelated Copper, Peroxyacetic Acid & Hydrogen Dioxide, Dyes & Colorants, Others), Form (Liquid and Dry), Mode of Action (Non-Selective and Selective), Application (Surface Water Treatment, Aquaculture, Sports & Recreational Centers, Agriculture, Others), Distribution Channel (Direct and Indirect)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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BASF SE (Germany), Lonza (Switzerland), SePRO Corporation (U.S.), BioSafe Systems, LLC (U.S.), N. Jonas & Company, Inc. (U.S.), UPL (India), Phoenix Products Co. (U.S.), Weifang Maochen Chemical Co., Ltd. (China), Airmax (U.S.), Oreq (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand
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Segment Analysis:
The global algaecides market is segmented into five notable segments which are based on the type, mode of action, form, application, and distribution channel.
- On the basis of type, the global algaecides market is segmented into copper sulfate, quaternary ammonium compounds, chelated copper, peroxyacetic acid and hydrogen dioxide, dyes and colorants, other (phosphate removers, biologicals, endothall and 2,4-D salts, and glyphosate).
The copper sulfate segment of type segment is anticipated to dominate the algaecides market
The copper sulfate segment is expected to dominate the market growing at the highest CAGR of 7.4% since copper sulfate controls the bacteria and fungus growth on fruits, vegetables, and other types of crops, which increases its demand.
- On the basis of mode of action, the global algaecides market is segmented into non-selective and selective.
The selective segment of action segment is anticipated to dominate the algaecides market
The selective segment is expected to dominate the market growing at the highest CAGR of 7.0% as it works on selective kinds of algae without hampering the beneficial fishes and plants, which is anticipated to increase its demand.
- On the basis of form, the global algaecides market is segmented into liquid and dry. The liquid segment is expected to dominate the market growing at the highest CAGR of 6.9% as liquid algaecides are found to be considerably stronger than dry algaecides.
- On the basis of application, the global algaecides market is segmented into surface water treatment, aquaculture, sports and recreational centers, agriculture, and others. The aquaculture is expected to dominate the market growing at the highest CAGR of 7.2% as algaecides are widely used to kill phytoplankton and are applied to prevent large blooms in aquatic waters, which is expected to increase its demand in the forecast period.
- On the basis of distribution channel, the global algaecides market is segmented into indirect and direct. The direct segment is expected to dominate the market growing at the highest CAGR of 7.0% as the direct channel increases direct customer contact and therefore offers exact product information to the consumers, which is projected to surge its demand.
Major Players
Data Bridge Market Research recognizes the following companies as the major algaecides market players in algaecides market are BASF SE (Germany), Lonza (Switzerland), SePRO Corporation (U.S.), BioSafe Systems, LLC (U.S.), N. Jonas & Company, Inc. (U.S.), UPL (India), Phoenix Products Co. (U.S.), Weifang Maochen Chemical Co., Ltd. (China), Airmax (U.S.), Oreq (U.S.).
Market Development
- In 2022, Lonza and ALSA ventures collaborated to offer development and manufacturing services for biotech firms. Lonza will support ALSA Ventures' portfolio companies with services supporting de-risking, early development, and manufacturing of next-generation modalities; this will assist the company in expanding its businesses
- In 2020, SePRO Corporation signed an agreement to acquire Applied Biochemists and Marine Biochemists, innovators in surface water management, and other select business assets from Innovative Water Care, LLC d/b/a Sigura. This assisted the company in tapping into a new set of resources to increase continued innovation and customer engagement
Regional Analysis
Geographically, the countries covered in the algaecides market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in algaecides market during the forecast period 2022 to 2029
North America dominates the algaecides market due to the increasing concern and growing awareness associated with the conservation of the environment and ecosystem. North America will continue to dominate the algaecides market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period.
Asia-Pacific is estimated to be the fastest-growing region in algaecides market the forecast period 2022 to 2029
Asia-Pacific is expected to grow from 2022 to 2029 due to the increasing activities of water treatment programs. In addition, the increasing presence of major market players is anticipated to boost the market's growth rate in this region.
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