Algaecides Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Type (Copper-based, Quaternary Ammonia, Others), By Application (Agriculture, Aquaculture, Surface Water Treatment, Others), And By Geography - Forecasts From 2021 To 2026

Published:  May 2021 Report Code: KSI061610907 Pages: 108

The algaecides market is evaluated at US$2.115 billion for the year 2019 and is projected to grow at a CAGR of 4.33% to reach the market size of US$2.845 billion by the year 2026.

Algaecides refer to chemicals that are used for the eradication of algae growth in lakes, ponds, pools, and other water bodies. Due to the rise in industrial agriculture, there is a rise in levels of nutrients like nitrogen and phosphorus in the water bodies which has led to poor biological conditions of water bodies and has caused a rise in the harmful algae growth, which is anticipated to propel the growth of algaecides during the forecast period. Also, climate change is leading to increasing incidences of harmful algal blooms around the world which are anticipated to surge the demand for algaecides during the forecast period. Furthermore, the rise of aquaculture over the years is anticipated to contribute immensely to the rising demand for algaecides as algaecides are widely used in aquaculture to protect the aquatic organisms from harmful effects for algae and hence improve productivity. Moreover, the rise of swimming pools and the increased awareness of people regarding the harmful effects of swimming in water containing algae is anticipated to elevate the market growth further during the forecast period.

algaecides market

The recent outbreak of the novel coronavirus disease had a negative impact on the algaecides market. Owing to lockdown and trade restrictions around the world, the industries were shut down and the supply chain of the algaecides market was impacted, leading to a decline in the market growth during the year 2020. Also, as part of safety measures to curb the spread of coronavirus, the swimming pools were closed in many parts of the world, which impacted the algaecides market negatively. However, the market is anticipated to recover in 2021 and is expected to continue growing at its normal pace.

Rise in harmful algal blooms with climate change.

One of the key factors supplementing the algaecides market growth is the rise in climate change leading to a rise in the incidences of harmful algal blooms around the world. According to the United States Environmental Protection Agency, climate change is warming the water temperature which provides the harmful algae blooms an ideal environment to grow. The changes in salinity, higher carbon dioxide levels, and changes in rainfall are some other factors that are causing the harmful algal blooms to grow more. The rise in algal blooms has led to a rise in demand for algaecides which is anticipated to further foster the growth of the algaecides market during the forecast period, as climate change is expected to continue affecting for the coming years. Lake Erie in North America witnesses very thick harmful algae bloom every year and scientists have stated that the issue of harmful algal bloom in the lake is becoming worse with climate change.

The situation had become so worse in 2014 that the US governor of that time declared an emergency and residents of surrounding areas were advised not only to avoid drinking the water but also avoid touching it. Similarly, the harmful algal bloom is known as “red tide” occurred in Florida in 2018 and lasted for more than a year. There were more than 300 reported cases of harmful algal bloom across the world in 2018. Harmful Algae Event Database (HAEDAT) reported 516 cases of harmful algal bloom in 2019 in various parts of the world and this number is expected to increase in the future. Although algaecides are not a long-term solution to the problem, they are still used for short-term purposes, and with the rise in occurrences of algal blooms with climate change, the growth of the algaecides market is anticipated to surge during the forecast period.

Aquaculture segment to hold a significant share.

The growth of algae causes harmful impacts on the growth of aquatic organisms and hence algaecides are used in aquaculture. According to FAO, there was a 527% increase in aquaculture production around the world from 1990 to 2018. Also, the total food fish consumption witnesses a rise of 122% from 1990 to 2018. The demand for aquaculture production and fish consumption is still increasing and hence it fosters the need for increased productivity in aquaculture. Owing to this reason, the use of algaecides in aquaculture has increased over the years and hence plays a significant role in aquaculture production, which is the reason why the aquaculture segment in the algaecides market holds a significant market share and is anticipated to continue to dominate the algaecides market during the forecast period.

North America to hold significant market share.

Geographically, the North American region is anticipated to hold a significant share in the algaecides market and is projected to witness substantial growth owing to a well-established aquaculture market in countries like the United States and Canada. The algaecides market is also anticipated to proliferate in North America owing to the rise in concerns regarding algae bloom and the region’s increased focus to curb water pollution.

algaecides market

Competitive Insights.

Prominent/major key market players in the algaecides market include BASF Corporation, SePRO Corporation, The Dow Chemical Company, among others. The players in the algaecides market are implementing various growth strategies to gain a competitive advantage over its competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the algaecides market.

Algaecides Market Scope:

Report Metric Details
 Market size value in 2019  US$2.115 billion
 Market size value in 2026  US$2.845 billion
 Growth Rate  CAGR of 4.33% from 2019 to 2026
 Base year  2019
 Forecast period  2021–2026
 Forecast Unit (Value)  USD Billion
 Segments covered  Type, Application, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered  BASF Corporation, SePRO Corporation, The Dow Chemical Company, Waterco,   BioSafe Systems, LLC, Lonza, Airmax Inc., SANCO INDUSTRIES, INC., N. Jonas &   Company, Inc., Lenntech B.V.
 Customization scope  Free report customization with purchase

 

Segmentation

  • By Type

    • Copper Sulfate

    • Quaternary Ammonia

    • Chelated Copper

    • Peroxyacetic Acid & Hydrogen Dioxide

    • Others

  • By Application

    • Agriculture

    • Aquaculture

    • Surface Water Treatment

    • Others

  • By Geography

    • North America

      • USA

      • Canada

      • Mexico

    • South America

      • Brazil

      • Argentina

      • Others

    • Europe

      • Germany

      • France

      • UK

      • Others

    • Middle East and Africa

      • Saudi Arabia

      • UAE

      • Others

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

      • Taiwan

      • Thailand

      • Indonesia

      • Others


Frequently Asked Questions (FAQs)

Q1. What will be the algaecides market size by 2026?
A1. The global algaecides market is projected to reach a market size of US$2.845 billion by 2026.


Q2. What are the growth prospects for the algaecides market?
A2. The algaecides market is projected to expand at a CAGR of 4.33% during the forecast period.


Q3. What is the size of global algaecides market?
A3. Algaecides Market was valued at US$2.115 billion in 2019.


Q4. Which region holds the largest market share in the algaecides market?
A4. Geographically, the North American region is anticipated to hold a significant share in the algaecides market owing to a well-established aquaculture market in countries like the United States and Canada.


Q5. What factors are anticipated to drive the algaecides market growth?
A5. With the rise in industrial agriculture, there is a rise in levels of nutrients like nitrogen and phosphorus in the water bodies which has led to poor biological conditions of water bodies and has caused a rise in the harmful algae growth, which is anticipated to propel the growth of algaecides market.

1. Introduction
1.1. Market Definition
1.2. Market Segmentation


2. Research Methodology
2.1. Research Data
2.2. Assumptions


3. Executive Summary
3.1. Research Highlights


4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis


5. Algaecides Market Analysis, by Type
5.1. Introduction
5.2. Copper Sulfate
5.3. Quaternary Ammonia
5.4. Chelated Copper
5.5. Peroxyacetic Acid & Hydrogen Dioxide
5.6. Others


6. Algaecides Market Analysis, by Application
6.1. Introduction
6.2. Agriculture
6.3. Aquaculture
6.4. Surface Water Treatment
6.5. Others


7. Algaecides Market Analysis, by Geography
7.1. Introduction
7.2. North America
7.2.1. USA
7.2.2. Canada
7.2.3. Mexico
7.3. South America
7.3.1. Brazil
7.3.2. Argentina
7.3.3. Others
7.4. Europe
7.4.1. Germany
7.4.2. France
7.4.3. UK
7.4.4. Others
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.5.2. UAE
7.5.3. Others
7.6. Asia Pacific
7.6.1. China
7.6.2. India
7.6.3. Japan
7.6.4. South Korea
7.6.5. Taiwan
7.6.6. Thailand
7.6.7. Indonesia
7.6.8. Others


8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix


9. Company Profiles 
9.1. BASF Corporation
9.2. SePRO Corporation
9.3. The Dow Chemical Company
9.4. Waterco
9.5. BioSafe Systems, LLC
9.6. Lonza
9.7. Airmax Inc.
9.8. SANCO INDUSTRIES, INC. 
9.9. N. Jonas & Company, Inc.
9.10. Lenntech B.V.

BASF Corporation

SePRO Corporation

The Dow Chemical Company

Waterco

BioSafe Systems, LLC

Lonza

Airmax Inc.

SANCO INDUSTRIES, INC.

N. Jonas & Company, Inc.

Lenntech B.V.

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