Algaecides Market Analysis, By Type (Copper Sulfate, Quaternary Ammonium Compounds, Chelated Copper, and Others), By Form (Granular and Liquid), By Application (Surface Water Treatment, Aquaculture, Agriculture, and Sports & Recreational Centers), and Regional Forecast, 2024-2032

Algaecides are primarily used in the inhibition of algae and the production of cyanobacteria in water storage facilities at various industries. They contain active ingredients, such as copper sulfate, sodium carbonate peroxyhydrate, or ammonia, and thus slow down the algae growth in the water storage facility. The type of algaecides used vary from species to species. However, when overused, certain copper-based products can adversely affect aquaculture as it minimizes the oxygen content in ponds, making the water toxic for fishes.

Algaecides are considered a quick and effective tool for destroying the aggressive growth of the algae, favoring market growth. Over the last few years, factors such as the increased product usage in farming and the rising growth of aquaculture and agriculture industry are set to propel algaecides market growth. Numerous aspects, such as surging environment concerns and the increased use of cleaning the algae formation in air conditioning systems, pave lucrative opportunities for the market to prosper in the coming years.

Moreover, easy availability of raw materials, high market penetration rate in developing countries, and  growing awareness about the product benefits are expected to drive the overall algaecides market share. However, governmental stringency and the disruptions in the supply chain during the COVID-19 pandemic act as restraints and are responsible for obstructing the market growth.

Impact of COVID-19 on the Algaecides Market

The COVID-19 pandemic led to sudden nationwide lockdown to restrict the spread of viral infection. Such restrictions have directly affected the agricultural business in terms of production, demand, and supply chain.  

The shutting of industries and a severe halt in the trade supply chain negatively hampered the overall agri-business. Moreover, the closure of public premises, such as playgrounds or swimming pools, hampered the usage of algaecides.

In addition, poor research & development activities and financial crisis resulted in the reduction of market sales. However, the demand for agricultural algaecides is expected to increase in the upcoming years, given the significant fall in COVID-19 cases in 2022 and the relaxation of lockdown restrictions.

Key Insights

The report will cover the following key insights:

• Drivers, restraints, and opportunities


• Key trends


• Overview of the overall market


• Key industry players


• Impact of COVID-19 on the algaecides market

Analysis by Application

Based on application, the global market is segmented into surface water treatment, aquaculture, agriculture, sports & recreational services, and others. The use of algaecides is extensively helpful in aquaculture to provide favorable conditions for the growth of farm fishes. In addition, algaecides are used in order to protect species from the harmful effects, which can further affect the overall production of aquaculture.

Analysis by Form

Based on form, the global algaecides market is distributed into granular and liquid. The granular segment is projected to hold the largest market share in the market due to its higher penetration capabilities in the algae cells, further promoting the product's effectiveness. The use of granular crystals is more commonly used in aquaculture, swimming pools, or athletic centers, as it is easily accessible and affordable, as well as convenient to use and store.

Regional Analysis

North America accounts for the largest market share in the global algaecides market size. Factors such as the increased rate of industrialization and the continuous practice of aquaculture in the countries of North America, such as the U.S. and Canada, contribute to the algaecides market growth.

Europe and Asia Pacific are expected to depict substantial growth in the forthcoming years. This is due to the preventive measures for environmental pollution and the adverse effects linked to the unmanageable growth of the algae.

Key Players

The report includes the profiles of key players such as BASF SE (Germany), Sepro Corporation (U.S.), BioSafe Systems LLC (U.S.), Airmax Inc., (U.S.), UPL Limited (India), Oreq Corporation (U.S.), Waterco Limited (Australia), Phoenix Products Co. (India), N. Jonas & Company, Inc. (U.S.), and Lonza Group AG (Switzerland).

Segmentation

Key Industrial Developments 

• May 2022 - Lonza entered into a mutual collaboration with ALSA Ventures to develop and produce biologics. The company will help strengthen the portfolio of ALSA Ventures, which will further help in business expansion.

• July 2020 - The Tel Aviv Company, Blue Water Technologies introduced its tested product, Lake Guard Blue, for the first time on Ohio's Chippewa Lake based in the U.S. The product is used effectively to clear the algal blooms in the lake.