The algaecides market was valued at US$2.115 billion in the year 2019 and is expected to grow to a market size worth US$2.845 billion by year-end 2026, growing at a CAGR of 4.33%. Algaecides are chemical components that are used to prevent and destroy the unwanted algal blooms occurring in water bodies. Excess algae growth is one of the major problems faced by the modern agriculture and the aquaculture sector. Tremendous developments in the field of industrialization are one of the major reasons for the increasing number of algae and algal blooms in lakes and water bodies. The excess amount of nitrogen and phosphorus content emitted by industries are increasing the levels of nitrogen content in water bodies.
The increased levels of nitrogen in water bodies are making good conditions for the growth of algal blooms and algae in water bodies. Algaecides are chemical substances or components, which can result in the eradication and removal of algae in water bodies. Sprinkling or mixing algaecide in the water bodies can prevent algal growth to a certain extent. The chemicals used in algaecides are extremely strong that it can completely remove algal growth to a certain extent.
Excess Algal Growth Due to Climate Change
Climate change is the modern problem faced by the food and agriculture sector due to global warming as a result of excess emissions from industries. The increasing temperature rate compared to normal temperature is resulting the algal growth in lakes and water bodies, as rising temperature provides ideal conditions for algal growth in water bodies. The acid rain falls, the increased presence of carbon dioxide and change in salinity levels are also providing good conditions for algal growth. The excess carbon emissions from industries are paving the way for climate change and also result in global warming. According to the reports of IPCC (Intergovernmental Panel on Climate Change) the Canadian glaciers are suffering rapid melting after 2016. The rapid heatwaves developing in North America is also leading to increase in temperature. As a result of heat waves the temperature of Death Valley in California has reached a peak temperature of 54.4 degree Celsius. The red tide incident resulted in Florida is a major effect arisen due to climate change. Red tide is a type of algal bloom that grow excess due to the presence of certain protozoa’s and aquatic microorganisms. The percentage of harmful algal bloom cases reported in coastal waters of the northern Beibu Gulf, China is showing an increasing trend in the last 30 years. Acid rainfalls and nitrogen content rising in water bodies are providing food and good conditions are for the growth of microorganisms The percentage of harmful algal cases reported by HAEDAT (Harmful Algae Event Database) are increasing annually in worldwide. WMO (World Meteorological Organization) forecasts that it’s expected to have a 40% chance in increasing global annual average temperature to above 1.5 degree Celsius in the next 5 years.
Market of Algaecides in Aquaculture
Aquaculture is one of the major sectors, which has shown devastating growth in production on last 20 years. Aquaculture is showing a steady growth in the last 10 to 20 years depending on the reports of FAO (World Food and Agriculture Organization). The increasing growth of microbes and algae is one of the major threats faced aquaculture sector. The algal blooms and red tides caused by microbes and algae are severely affecting the production of aquaculture. The growth of aquaculture is giving potential to the increasing demand of the algaecide market. The demand of algaecide has been widely increased as result of the booming growth of the aquaculture sector. China is stated as the leading country in the field of aquaculture according WAS (World Aquaculture Society). China is also the country facing devastating climate change problems and harmful algal bloom incidents in the coastal regions. The rising industrial emissions of China is the major reason behind harmful algal incidents and climate change in China. The capacity of Algaecides as solution or remedy to the harmful algal blooms is rising the market value of algaecide in the global market. The growth algaecide market is also growing in hand to hand with the growth of global aquaculture sector.
North America Stands as the Growing Market for Algaecides
The regional segmentation of the Algaecide market is parted as North America, Europe, South America, Asia Pacific, Middle East and Africa. Algaecide market is showcasing rising growth in the North America region. The preoccupying harmful algal bloom incidents taking place in the North American regions are resulting for the demand of algaecides in North America market. The aquaculture sectors are well established in countries like Canada and United States. The aquaculture industries in countries like U.S is also showing substantial growth. The developed countries like U.S and Canada are also resulting in higher carbon emission as a result of increased industries in the country, making it vulnerable to harmful algal bloom incidents. The need and demand for algaecides for supporting the aquaculture sector of North America are increasing the value algaecides market in the North America region.
By type, depending on the type of chemical components used for the manufacture of algaecides. Algaecides are segmented into different types like copper sulfate, quaternary Ammonia, chelated Copper, peroxyacetic acid & hydrogen dioxide and Others. The algaecide product like green pondFX is stated as one of the safe and less harmful algaecides in regarding to humans.
By application, algaecide sides are segmented into for the use of agriculture, aquaculture, surface water treatment and others. Algaecide are also employed for commercial purposes like for the maintenance of foundation swimming pool etc.
The analysis report on Algaecide market also discusses about the effects of COVID pandemic on algaecide market. The isolations and lockdowns due to COVID pandemic has resulted in the downfall of the algaecide market. The traffics and blockages in the supply chain sector of algaecide market push to the down fall of algaecides availability in global market. COVID pandemic had resulted in severe downfall on the market of algaecides in international market.