Press Release

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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