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Algaecides Market Research Report - Global Forecast till 2027

Algaecides Market Research Report: Information by Type (Copper-Based, Quaternary Ammonia and others), Form (Solid and Liquid), Mode of Action (Selective and Non-selective), Application (Agriculture, Aquaculture, Surface Water Treatment and others) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2027

ID: MRFR/AGR/3903-HCR | December 2022 | Region: Global | 90 Pages         

Algaecides Market

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

Segmentation

By Type Copper-Based Quaternary Ammonia others
By Form Solid Liquid
By Mode of Action Selective Non-selective
By Application Agriculture Aquaculture Surface Water Treatment others
By Region North America Europe Asia-Pacific Rest of the World

Key Players

  • BASF SE (Germany)
  • Dow (US)
  • Nufarm Limited (Australia)
  • Lonza Group AG (Switzerland)
  • UPL Limited (India)
  • SePRO Corporation (US)
  • Waterco Limited (Australia)
  • BioSafe Systems
  • LLC (US)
  • Airmax Inc (US)
  • Oreq Corporation (US)
  • N. Jonas & Company Inc. (US)
  • SANCO INDUSTRIES INC. (US)
  • Airmax (US)

Drivers

  • Growing demand for food
  • Increasing population

Algaecides Market Scenario


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 3 billion by 2024, with a CAGR of 6.1% during the forecast period from 2019 to 2024. Growth of aquaculture, industrialization, and agriculture are the significant determinants fueling the market growth of algaecides across the globe, as algaecides are majorly used in these application sectors. Algicides are highly efficient and are easy to use to kill or prevent the growth of algae during the treatment of surface water, which in turn is also catalyzing the demand of such biocides in various applications. However, the main constraints hampering the market growth of algaecides are the implementation of stringent norms regarding the use of algaecides and continuous requirement of aquatic pesticide monitoring. Though the market is lucrative for the vendors of algaecides, they are also experiencing challenges in their growth due to the non-selective nature of algaecides. To gain a higher edge in the competitive market, suppliers of algaecide chemicals are penetrating the Asia-Pacific market and addressing the emerging environmental concerns, such as the rising water crisis across the region.


Segmentation


The market has been segmented based on type, form, mode of action, application, and region.


By type, the market has been classified as copper-based, quaternary ammonia, and others.


Based on form, the market has been classified as solid and liquid.


By mode of action, the global algaecides market is segregated into selective and non-selective.


The market has also been segregated, based on application, into agriculture, aquaculture, surface water treatment, and others.


The global market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.


The North American market has further been segmented into the US, Canada, and Mexico. The European algaecides industry has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The market in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The market in the rest of the world has been segmented into South America, the Middle East, and Africa.


Key Players



  • BASF SE (Germany)

  • Dow (US)

  • Nufarm Limited (Australia)

  • Lonza Group AG (Switzerland)

  • UPL Limited (India)

  • SePRO Corporation (US)

  • Waterco Limited (Australia)

  • BioSafe Systems, LLC (US)

  • Airmax, Inc. (US)

  • Oreq Corporation (US)

  • N. Jonas & Company, Inc. (US)

  • SANCO INDUSTRIES, INC. (US)

  • Airmax (US)


Regional Market Summary


Global Algaecides Market Share (%), by Region, 2018  Algaecides Market


Source: Secondary Sources and MRFR Analysis


North America held the largest revenue share of the global algaecides market in 2018 and is expected to maintain its dominance throughout the forecast period. The region's dominance can be attributed to the growth of aquaculture, industrialization, and agriculture in the region. However, regulatory constraints regarding the use of certain chemical ingredients to control algae growth, especially for public water treatment is creating hurdles in the growth of the regional market. The Asia-Pacific market is expected to register the highest CAGR during the forecast period owing to rising urbanization, increasing requirement for clean water, hike in the number of surface water treatment plants, and growth of agriculture & allied sectors.


Global Algaecides Market, by Type



  • Copper-Based

  • Quaternary Ammonia

  • Others


Global Algaecides Market, by Form



  • Solid

  • Liquid


Global Algaecides Market, by Mode of Action



  • Selective

  • Non-Selective


By Application



  • Agriculture

  • Aquaculture

  • Surface Water Treatment

  • Others


By Region



  • North America

    • US

    • Canada

    • Mexico





  • Europe

    • Germany

    • France

    • Italy

    • Spain

    • UK

    • Rest of Europe





  • Asia-Pacific

    • Japan

    • China

    • India

    • Australia and New Zealand

    • Rest of Asia-Pacific





  • Rest of the World (RoW)

    • South America

    • Middle East

    • Africa




Intended Audience



  • Chemical manufacturers and suppliers

  • Chemical traders, suppliers, and distributors

  • Raw material suppliers

  • Government authorities and agencies related to public health, environment, and agriculture

  • Traders, importers, and exporters



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Frequently Asked Questions (FAQ) :

Algaecides market is projected to grow at a 6.1% CAGR between 2019-2024.

North America is expected to dominate the algaecides market.

The algaecides market is predicted to touch USD 3 billion by 2024.

Some major applications of algaecides include surface water treatment, aquaculture, agriculture, and others.

Non-selective nature may limit the algaecides market growth.