Algaecides Market 2020 to 2024 | Share, Growth, Business Statistics and Forecast

Research Reports

Jan 22, 2021

Market Insight

Global 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. Algaecides is a chemical treatment designed to kill and prevent algae growth. There are mainly two types of algaecides such as natural algaecides and synthetic algaecides. They are applicable in agriculture, surface water treatment, aquaculture, and others. It is mainly used in aquaculture to promote aquatic life by preventing algae growth which inhibits the growth of the aquatic life. Moreover, it is used in agriculture to prevent the degradation of soil quality caused by algae. Increasing pollution has caused an increase in the growth of algae and raised the need for algaecides.

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Major Key Players

The major players in the Algaecides Market, The Dow Chemical Company (U.S.), BASF SE (Germany), Lonza Group (Switzerland), Waterco Limited (Australia), Sepro Corporation (U.S.), OREQ Corporation (U.S.) and Biosafe Systems, LLC (U.S.)

Downstream Analysis

Algaecides market is segmented on the basis of type such as natural algaecides and synthetic algaecides. Among them, the synthetic algaecides segment is witnessed to be dominating the market and is projected to grow potentially over the forecast period.

Based on the form, Algaecides Market is segmented into granular, liquids, and others. The granular segment accounted for the largest market share based on its effectiveness and higher penetration in the algal cells.

Based on the mode of application, algaecides market is segmented into selective algaecide and non-selective algaecide. Among them, the non-selective algaecide is dominating the market owing to high efficiency and improved control at a range of algal species.

Regional Analysis

Global Algaecides Market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). North America is dominating the market followed by Europe. In North America, Canada is the major contributor of algaecides followed by the U.S.

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