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Algaecides Market Size, Share, Trends, Growth, Industry Analysis And Forecast 2023-2032
Algaecides Market Report
The Business Research Company's Algaecides Global Market Report 2023 identifies increasing industrialization and the resultant pollution levels as the major driver for the algaecides market's growth in the forecast period. 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.
The global algaecides market size grew from $3.14 billion in 2022 to $3.44 billion in 2023 at a compound annual growth rate (CAGR) of 9.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The algaecides market size is expected to grow to $4.89 billion in 2027 at a CAGR of 9.2%.
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Major competitors in the algaecides market are BASF SE, N. Jonas & Company Inc., Sanco Industries Inc., Lonza Group AG, UPL Aquatics.
A key trend in the algaecides market includes Product innovations. Major companies operating in the market are developing new products to strengthen their position in the market. For instance, in March 2020, BioWorks, a US-based biotechnology company operating in the market, launched PERpose PlusTM, a broad-spectrum algaecide and fungicide for fungus and algae prevention, suppression, and control on equipment and hard surfaces, as well as post-harvest and storage applications. To combat phytotoxicity, this unique formulation contains a proprietary blend of stabilizers and buffers.
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The algaecides market is segmented -
•By Type: Copper sulfate, Chelated copper, Quaternary ammonium compounds, Peroxyacetic acid and hydrogen dioxide, Other Type
•By Form: Granular crystal, Liquid, Pellet
•By Application: Surface Water Treatment, Aquaculture, Sports and Recreational centres, Agriculture, Other Application
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the algaecides market.
The Business Research Company's "Global Algaecides Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Algaecides Market Include:
1. Executive Summary
2. Algaecides Market Characteristics
3. Algaecides Market Trends And Strategies
4. Algaecides Market - Macro Economic Scenario
5. Algaecides Market Size And Growth
……
26. Africa Algaecides Market
27. Algaecides Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Algaecides Market
29. Algaecides Market Future Outlook and Potential Analysis
30. Appendix
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