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Algaecides Market Growth to be Driven by Emerging Trends | $6.67 Billion by 2029
Algaecides
What is the Projected Market Size of the Algaecides Industry?
The market size of algaecides has seen substantial growth in the past years. Its progress is set to continue, increasing from $3.9 billion in 2024 to reach $4.28 billion in 2025, representing a compound annual growth rate (CAGR) of 9.7%. The significant growth seen in the historical period is mainly due to a rise in water pollution, an increase in agricultural activities, a burgeoning aquaculture industry, growing concern and awareness about environmental conservation, and the expansion of industrialization.
What Will Be the Size of the Algaecides Market by 2029?
The market for algaecides is anticipated to substantially expand in the coming years, reaching a market size of $6.67 billion by 2029, with a compound annual growth rate (CAGR) of 11.7%. Factors such as economic expansion, an increase in the tourism sector, urbanization, elevated demand for pure water, and amplified governmental aid contribute to the growth in this projected period. Key trends over this period are anticipated to include eco-friendly algaecides, algaecide solutions without chemicals, personalized services, novel formulations, and collaborative partnerships.
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What Are the Key Drivers Accelerating Growth in the Algaecides Market?
The escalation in industrial development and corresponding pollution levels are anticipated to boost the algaecides market's expansion in the future. Industrialization is the transition of an economy from being predominately agricultural to one that manufactures goods. This industrialization process contributes to environmental decline through industrial pollution, where algaecides play a crucial role in preventing these pollutants. For example, as per India Brand Equity Foundation, a government agency promoting exports in India, the country has the potential to evolve into a worldwide manufacturing hub. By 2030, it could contribute over USD 500 billion annually to the global economy. Hence, the surge in industrialization and corresponding pollution levels are propelling the algaecides market's growth.
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How Is the Algaecides Market Segmented by Type, Application, and Region?
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 Types
2) By Form: Granular crystal, Liquid, Pellet
3) By Application: Surface Water Treatment, Aquaculture, Sports and Recreational centers, Agriculture, Other Application
Subsegments:
1) By Copper Sulfate: Granular Copper Sulfate, Liquid Copper Sulfate
2) By Chelated Copper: Ethylenediaminetetraacetic Acid (EDTA) Copper Complex, Triethanolamine (TEA) Copper Complex, Other Chelated Copper Forms
3) By Quaternary Ammonium Compounds: Benzalkonium Chloride, Dodecyl Dimethyl Benzyl Ammonium Chloride (DDAC), Other Quaternary Ammonium Compounds
4) By Peroxyacetic Acid and Hydrogen Dioxide: Stabilized Hydrogen Peroxide, Combination Blends
5) By Other Types: Sodium Carbonate Peroxyhydrate, Herbicide-Based Algaecides, Natural Algaecides
What Are the Key Trends Driving Growth in the Algaecides Market?
The rise of product innovations is a prominent trend in the algaecides market. Principally, major companies in the market are introducing new products in order to bolster their market presence. To illustrate, ARQUIMEA, an agricultural technology company based in Spain, unveiled BIO100, an organic and biodegradable algaecide in January 2023. This product, made of natural ingredients without chemicals, fuses the properties of a biological algaecide and a sunscreen, creating a unique offering compared to traditional algaecides. It was designed particularly with a focus on the conservation of agricultural soils, the environment, and surrounding zones.
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Who Are the Leading Companies Driving Growth in the Algaecides Market?
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, Precision Laboratories LLC, Wilbur-Ellis Company, Chautauqua Chemicals Co Inc., Atlantic Laboratories Corporation Ltd.
Which Is the Leading Region in the Global Algaecides Market?
North America was the largest region in the algaecides market in 2024. 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.
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