Market Size –
The algaecides market size has grown rapidly in recent years. It will grow from $3.54 billion in 2023 to $3.93 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to rise in water pollution, rise in agricultural practices, expanding aquaculture industry, rise in concern and awareness regarding the conservation of the environment, growth of industrialization .
The algaecides market size is expected to see rapid growth in the next few years. It will grow to $6.01 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to economic growth, rising tourism industry, rising urbanization, rising demand for clean water, rising government support. Major trends in the forecast period include sustainable algaecides, non-chemical algaecide solutions, customized solutions, innovative formulations, collaboration and partnerships.
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Scope Of Algaecides Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Algaecides Market Overview
Market Drivers –
Increasing industrialization and the resultant pollution levels are expected to propel the growth of the algaecides market going forward. Industrialization refers to the process, by which an economy is converted from a primarily agricultural one to one based on the manufacturing of goods. The industrialization has led to environmental degradation in terms of industrial pollution, algaecides are helpful in the prevention of these pollutants. For instance, according to India Brand Equity Foundation, an India-based government export promotion agency, India has the potential to become a global manufacturing hub and by 2030, it can add more than USD 500 billion annually to the global economy. Therefore, increasing industrialization and the resultant pollution levels are driving the algaecides market.
The algaecides market covered in this report is segmented –
1) By Type: Copper sulfate, Chelated copper, Quaternary ammonium compounds, Peroxyacetic acid and hydrogen dioxide, Other Type
2) By Form: Granular crystal, Liquid, Pellet
3) By Application: Surface Water Treatment, Aquaculture, Sports and Recreational centres, Agriculture, Other Application
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Regional Insights –
North America was the largest region in the algaecides market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the algaecides market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the algaecides market include BASF SE, N. Jonas & Company Inc., Sanco Industries Inc., Lonza Group AG, UPL Aquatics, SePRO Corporation, Nouryon, Kemira Oyj, Adama Agricultural Solutions, BioSafe Systems, Waterco Limited, Lake Restoration Inc., BioGuard, Oreq Corporation, Olin Corporation, Valagro SpA, Diquat Dibromide, Arch Chemicals, Acuro Organics Limited, Boxer Adjuvant, Control Solutions Inc., Blue Lagoon Products Ltd., Sinofi Ingredients, ACUINOVA – ACTIVIDADES PISCICOLAS S A, Lancer Orthodontics Inc., Mycogen Seeds, Precision Laboratories LLC, Wilbur-Ellis Company, Chautauqua Chemicals Co Inc., Atlantic Laboratories Corporation Ltd.
Table of Contents
1. Executive Summary
2. Algaecides Market Report Structure
3. Algaecides Market Trends And Strategies
4. Algaecides Market – Macro Economic Scenario
5. Algaecides Market Size And Growth
…..
27. Algaecides Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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