Algaecide Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
Algaecide Market: An Overview
Algaecides are class of biocides used for terminating growth of algae. They are typically applied in waterbodies by injecting the targeted algaecide into the floating mat of algae. Selective algaecides should be used depending on the species. Incomplete eradication of algae from the water bodies and recurring use of algae increasing the demand of algae in the market. Algaecides are used not only in water bodies but also in sports and recreational centers, surface water treatment, aquaculture, agriculture and other niche applications. Algae prevention in the swimming pools has become one of the biggest challenges across the regions. Chlorine is usually used to terminate the algae present in the water. Thus, increasing the chlorine levels unexceptionally in the water. Selective algaecide application demand has been increased in the past half-decade owing to the algae termination. Quaternary ammonium compounds and copper sulfate compounds are typically used as a non-selective algaecide owing to its less hazardous nature. Moreover, its increasing awareness regarding biocides has increased its application in agriculture. Emerging applications and growing research regarding algaecide portrays a picture of growing algaecide demand across the regions. Demand of Algaecide is set to surge over the forecast period (2020-2030).
Demand Spike for Granular Algaecide is set to Define Algaecide Market
Liquid, granular, crystal and pellet are the four main forms of algaecide available in the market. Of which, granular has found attractive market share in the global algaecide market owing to its higher penetration into the cells of algae and higher dissolution in the water bodies. Followed by granular type, crystal form is being used in water bodies owing to its enhanced surface area for the termination of algae in the water. Liquid form is used when the algae is spread out across the water body owing its higher dispersion and area coverage in the water.
COVID-19 to Shatter the Algaecide Market
COVID-19 or Novel corona virus has not only shattered the movement of the people but also the production and trade of the major products in the market including algaecide. Increased production of essentials and force majeure of inessential products has disrupted the algaecide market. Demand shrink owing to the lockdown across the regions and shattered supply owing to the cease of trade of raw materials required to manufacture of algaecide. The market is set to remain the same till 2022 owing to the inflation across the regions. Reduction in buying power and budget constraints is set to hamper the algaecide market. Pandemic has hit the economy hard in the gut which is set to reflect on the global economy and chemicals market.
Algaecide Market: Segmentation
The global Algaecide market is bifurcated into four major segments: Form, Mode of Action, Application and region.
On the basis of Form, the global Algaecide market is divided into:
On the basis of Mode of Action, the global Algaecide market is divided into:
On the basis of application, the global Algaecide market is divided into:
Algaecide Market: Regional Outlook
The report on the global Algaecide market covers six major regions that include North America, Europe, Latin America, East Asia, South Asia & Oceania, and MEA. North America has driven the demand of algaecide market in the historical period of 2015-2019 owing to the awareness of the algaecide and its applications. Moreover, high per-capita income has integrated the algaecide into their market basket owing to the presence of high number of swimming pools and algaecide application in water bodies in United States. Europe followed by North America lies on the mature side of the PLC curve.
Europe and North America are hard hit regions of COVID-19. Massive lockdown has shrunk the supply of algaecide. Moreover, inflation set to follow post COVID-19 is set to negatively affect the demand till 3rd quarter of 2022
Algaecide Market: Key Players
Key Stakeholders in the global algaecide market are BASF SE, UPL Limited, Oreq Corporation, Biosafe systems, Dow chemical company, waterco Limited, Nufarm Limited,Se Pro Group, Lonza Group and others. The Algaecide market consists of well-diversified global and regional players with global vendors ruling the market.
The research report presents a comprehensive assessment of the algaecide market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The algaecide market report provides analysis and information, according to market segments such as geographies, form, application, and mode of action.
The Algaecide Market Report Covers Exhaustive Analysis On:
The Algaecide report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The Algaecide report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The Algaecide report also maps the qualitative impact of various market factors on market segments and geographies.
The Algaecide Market Report Highlights:
The study presents a granular assessment and quantitative evaluation of:
The region-wise assessment includes market dynamics in:
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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