CAGR 6.20%, Agricultural Algaecides Market Trends And Analysis| Key Players - BASF SE (Germany), Dow (U.S.), Nufarm Canada (Australia)

Global Agricultural Algaecides Market Definition

Algaecide (also known as algicide) is a form of algaecide that is used to prevent and destroy algal and cyanobacteria development. There are two types of algaecide: natural and synthetic algaecides. They're often employed to keep branching, filamentous, and planktonic algae at bay. Algaecide is dependent on a number of parameters, including water chemistry, application, and product composition, to name a few. The agricultural algaecide is the one used and employed across the agricultural sector.

Global agricultural algaecides market was valued at USD 3.21 billion in 2021 and is expected to reach USD 5.19 billion by 2029, registering a CAGR of 6.20% during the forecast period of 2022-2029. "Copper sulphate" dominates the type segment owing to the its ability to serve as an ingredient for non-selective algaecides which are being preferred due to its ability to treat variety of algal species within the above mentioned forecasted period.

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Growing consciousness regarding the usage and benefits of agricultural algaecide, are all the factors which are propelling the market forward. Over the recent years, the various economies within the Asia-Pacific center, such as China, India, and Japan have experienced tremendous market expansion due to the rising awareness regarding the benefits of agricultural algaecide as they are highly efficient and are easy to use for the prevention of the growth of algae in agriculture.  Moreover, the continuous development of innovative and novel algaecide formulations, further assists the expansion of the market.

Agricultural Algaecides Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Increasing Economic Growth Will Lead to Increased Demand

The rise in disposable incomes will bolster the growth of the market in the above mentioned forecasted period. Moreover, the increasing consumer spending, urbanization and economic growth are also projected to cushion the market's growth.

Rise In Awareness Accelerates The Market Growth

In addition to this, the growth determinants such as the rise in awareness of good agricultural practices coupled with the growing consciousness regarding the usage and benefits of algaecide, which are highly efficient and are easy to use for the prevention of the growth of algae is expected to increase which in turn also drives the market's growth.

High Utilization in Agriculture

Furthermore, they kill algae and/or prevent it from growing across various agricultural lands which are also estimated to accelerate the growth of the market. Moreover, the effectiveness and ease of use to treat and prevent algae growth are also carving the growth for the market in the above mentioned forecasted period.

Other Drivers

The growth determinants such as the continuous development of innovative and novel algaecide formulations generate profitable opportunities to the market players in the forecast period of 2022 to 2029. The increasing expansion of the agricultural sector across the different regions is also a significant growth determinant of the market. Moreover, increasing environmental concerns, cost effectiveness, availability of raw materials and increasing market penetration in developing countries are expected to further fuel growth of the market over the above mentioned forecasted period.

Some of the major players operating in the agricultural algaecides market are
BASF SE (Germany),
Dow (U.S.),
Nufarm Canada (Australia),
 BIOGUARD (U.S), 
Bayer AG (Germany),
Lonza (Switzerland),
Pinch A Penny, Inc., (U.S),
 UPL Limited (India),
SePRO Corporation (U.S.),
Waterco (Australia),
Pool Corporation (U.S), 
Syngenta (Switzerland),
BioSafe Systems, LLC (U.S.),
Airmax, Inc. (U.S.),
Oreq (U.S.) 

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Global Agricultural Algaecides Market Scope

The agricultural algaecides market is segmented on the basis of type, mode of action, category and form. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type
Copper Sulfate
Chelated Copper
QAC
Peroxyacetic acid and hydrogen dioxide
Dyes and Colorants
Others

On the basis of type, the agricultural algaecides market has been segmented into copper sulfate, chelated copper, QAC, peroxyacetic acid and hydrogen dioxide, dyes and colorants and others. Copper sulphate segment is estimated to hold the largest market share owing to its ability to serve as an ingredient for non-selective algaecides which are being preferred due to its ability to treat variety of algal species.

Mode of Action
Selective
Non-Selective

On the basis of mode of action, the agricultural algaecides market has been segmented into selective and non-selective.

Category
Synthetic Algicides
Natural Algicides

On the basis of category, the agricultural algaecides market has been segmented into synthetic algicides and natural algicides.

Form
Solid
Liquid

On the basis of form, the agricultural algaecides market is segmented into solid and liquid.

Agricultural Algaecides Market Regional Analysis/Insights

The agricultural algaecides market is analyzed and market size insights and trends are provided by country, type, mode of action, category and form as referenced above.

The countries covered in the agricultural algaecides market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the agricultural algaecides market because of the aid of efficient infrastructure, innovations resulting from research and development along with increasing demand for algaecides in US and Canada in the above mentioned forecasted period. Asia-Pacific, on the other hand, is estimated to register a significant growth owing to the rising urbanization, government initiatives and growth of agriculture and allied sectors within the region in forecasted period from 2021 to 2029.

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