Algaecides help in killing and preventing the growth of algae. Increasing population and growing demand for food have led to high agricultural productivity which is driving the growth of the algaecides market. Moreover, limited availability of cultivable land is boosting the demand for algaecides to increase farm productivity.
Major factors such as water, temperature, rain, sunlight, pH, and mineral content are driving the growth of algaecides market. Moreover, increasing demand for fish among the population is supporting the growth of algaecides among the farm fishes. However, stringent regulations on the use of algaecides may hamper the growth of Algaecides Market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 3.9% of algaecides market during the forecast period 2017-2023.
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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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.
On the basis of application, algaecides market is segmented into agriculture, surface water treatment, aquaculture, & others. Among all, the aquaculture segment is projected to be dominating the market with a potential growth over the estimated period.
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.
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.)
- Biosafe Systems, LLC (U.S.)
The 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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Asia Pacific is observed to be the emerging market for algaecides. India and China are the major contributors to the growth of algaecides market in this region. Increasing awareness for algaecides among the population along with the implementation of modern farming techniques is boosting the growth of algaecides market in this region. For rest of the world, Latin America is projected to witness high growth over the estimated period.