Algaecides Market to Grow with a CAGR of 6.50% through 2028
According to TechSci Research report, “Algaecides
Market – Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Algaecides Market stood at USD 2.65
billion in 2022 and is anticipated to grow with a CAGR of 6.50% in the forecast
period, 2024-2028. The awareness among individuals regarding Algaecides has led
to favorable market conditions for the global Algaecides market. Several
factors contribute to the growth of various Algaecides products.
The growth of the algaecides market is the rising
demand for water treatment solutions. As water bodies face increasing pollution
and eutrophication issues, the need for effective algaecides to control and
prevent algal blooms becomes crucial. Municipalities, industrial facilities,
and agricultural operations are increasingly adopting algaecides to maintain
the quality of water resources for consumption, recreation, and ecological
balance.
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The growth of the global aquaculture industry is
driving the demand for algaecides. Algal overgrowth in aquaculture systems can
negatively impact fish and shrimp farming by reducing oxygen levels, clogging
filters, and affecting the overall health of aquatic organisms. Algaecides are
used to prevent and control algae in aquaculture ponds, ensuring optimal
conditions for the growth and well-being of aquatic species. The expanding
aquaculture sector, driven by the growing global demand for seafood, contributes
significantly to the increased use of algaecides.
In October 2023, SePRO Corporation announces the
launch of its new SePRO Clarity™ water treatment system. The SePRO Clarity
system is a revolutionary new technology that uses a combination of advanced
oxidation and filtration to remove a wide range of contaminants from water.
Algaecides find applications in agriculture to control
algae in irrigation systems, canals, and water reservoirs. Algal growth in
these systems can interfere with water flow, reduce irrigation efficiency, and
negatively impact crop yields. As global agriculture strives to increase
productivity to meet the demands of a growing population, the use of algaecides
becomes essential to maintain the efficiency of irrigation infrastructure. This
agricultural need propels the demand for algaecides as a tool to manage
algal-related issues in water resources used for farming.
In today's fast-paced world, algaecides are crucial
for municipal water treatment. They combat algal growth in water sources,
ensuring a safe and reliable supply of clean water for expanding urban
populations. Algaecides contribute to the maintenance of water quality in
recreational areas, supporting the fast-growing demand for leisure activities
and promoting a healthy environment. Algaecides are integral to modern
agricultural practices, where efficiency and productivity are paramount. They
help optimize irrigation systems by preventing algal interference, ensuring a
steady and reliable water supply for crops in the fast-evolving agricultural
landscape. In a world with a burgeoning population, algaecides support the
agricultural sector in meeting the escalating global demand for food by
protecting crops from algal competition and preserving water quality. The
expanding aquaculture industry relies on algaecides to mitigate the impact of
algal blooms, ensuring sustainable and efficient seafood production to meet the
fast-growing global demand. Algaecides contribute to maintaining the health of
aquatic ecosystems in aquaculture settings, supporting the industry's rapid
growth and development.
Industries that rely on cooling water systems, such as power plants and
manufacturing facilities, face challenges related to algal fouling. Algae can
accumulate in cooling towers, pipes, and heat exchangers, leading to reduced
heat transfer efficiency and increased operational costs. Algaecides are
employed to control algae growth in these industrial settings, ensuring the
smooth and efficient operation of cooling systems. As industrial activities
continue to expand globally, the demand for algaecides in industrial water
treatment applications is expected to grow.
In recent times, Algaecides play a crucial role in
controlling and preventing algae growth in water bodies. In a fast-paced world
where demand for clean water is escalating, algaecides help maintain water
quality for consumption, recreation, and ecological balance. With rapid
urbanization, municipal water treatment plants rely on algaecides to combat
algae-related issues, ensuring a safe and reliable water supply for growing
populations. In agriculture, algaecides are employed to maintain the efficiency
of irrigation systems by controlling algae growth. This is particularly vital
in a world striving for increased agricultural productivity to meet the demands
of a growing population. Algae control is essential for protecting crops from
nutrient competition and maintaining optimal water quality, contributing to
sustainable and high-yield agricultural practices. In the expanding aquaculture
sector, algaecides are instrumental in preventing algal blooms that can
adversely affect fish and shrimp farming. This is crucial for meeting the
rising global demand for seafood in a world where aquaculture plays a
significant role in food production. Algaecides contribute to the overall
health of aquatic organisms by creating favorable conditions in aquaculture
ponds, supporting efficient and sustainable fish and shrimp production.
However, the Environmental Concerns and Regulatory Scrutiny may hinder market
growth. Moreover, challenges related to Resistance development in targeted
algal species and public perception and acceptance may pose obstacles to the Algaecides
market in the near future.
The Global Algaecides Market is segmented into type,
mode of action, application, form, distribution channel, regional distribution,
and company.
Based on its type, the copper sulfate segment has
emerged as the predominant market leader, Copper sulfate is effective against a
wide range of algae species, including both filamentous and planktonic algae.
Copper sulfate is a relatively inexpensive algaecide, making it an attractive
option for many users. Copper sulfate can remain effective in water for several
weeks, reducing the need for frequent applications. The demand for algae
control is growing due to the increasing awareness of the environmental and
health risks associated with algae blooms. Copper sulfate is becoming
increasingly popular due to its low cost, broad-spectrum activity, and
long-lasting effect. Copper sulfate is being used in an expanding range of
applications, such as agriculture, aquaculture, and industrial water treatment.
These factors are expected to drive the growth of this segment.
Based on region, Asia-Pacific segment is expected to
grow during the forecast period. The Asia Pacific region, with the
world's fastest-growing population, is witnessing an escalating demand for
clean water and wastewater treatment, driving an increased need for algaecides.
The rapid pace of industrialization in the region is generating higher volumes
of industrial wastewater, containing algae that can compromise water sources
and harm aquatic life, consequently fueling the demand for algaecides for
industrial wastewater treatment. Additionally, the growing awareness of the
environmental risks associated with algae blooms in the Asia Pacific region is
contributing to a surge in demand for algaecides, emphasizing the importance of
preventing and controlling these bloom.
The Europe market is poised to be the fastest-growing
market, offering lucrative growth opportunities for Algaecides players during
the forecast period. Factors such as Europe, with a rich historical usage of
algaecides for managing algae growth in surface water bodies, agriculture, and
aquaculture, anticipates a sustained increase in demand. This growth is
attributed to the rising need for clean water, stringent environmental
regulations, and a heightened awareness of the health risks associated with algae
blooms.
Major
companies operating in Global Algaecides Market are:
- BASF SE
- Lonza AG
- SePRO Corporation
- BioSafe Systems, LLC
- N. Jonas & Company, Inc.
- UPL Ltd.
- Phoenix Products Co.
- Weifang Maochen Chemical Co., Ltd.
- Airmax Corp
- Oreq Corp
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“The increasing global population growth and
urbanization and increasing water pollution and eutrophication concerns are key
drivers of the Algaecides market. In recent years, the Escalating levels of
water pollution due to industrial discharges, agricultural runoff, and
untreated sewage contribute to the risk of eutrophication. This phenomenon,
characterized by excessive nutrient influx leading to algal blooms, underscores
the need for algaecides. Moreover, the growing consumer emphasis on
preventative products has enhanced production and marketing efforts. To meet
the demands of the market, manufacturers are increasingly incorporating
cutting-edge technologies with high production efficiency. Rising consumer
acceptance and continuous product innovation will further ensure the growth of
the Algaecides market in the coming years.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Algaecides Market – Global Industry Size,
Share, Trends, Opportunity, & Forecast 2018-2028 Segmented By Type (Copper
Sulfate, Quaternary Ammonium Compounds, Chelated Copper, Peroxyacetic Acid
& Hydrogen Dioxide, Dyes & Colorants, Others), By Mode of Action
(Non-Selective, Selective), By Application (Surface Water Treatment,
Aquaculture, Sport & Recreational Centers, Agriculture, Others), By Form
(Liquid, Dry), By Distribution Channel (Direct, Indirect), By Region,
Competition”, has evaluated the future growth potential of Global Algaecides Market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Algaecides Market.
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