Algaecide Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

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Algaecide Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

Status : July, 2020 | Chemical & Materials | PPT format

Report Digest

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:

  • Liquid
  • Granular
  • Crystal
  • Pellet

On the basis of Mode of Action, the global Algaecide market is divided into:

  • Selective
  • Non-Selective
    • Quarternary ammonium
    • Copper Sulphate
    • Others

On the basis of application, the global Algaecide market is divided into:

  • Sports and Recreational Centres
    • Water Parks
    • Swimming Pools
    • Other 
  • Surface Water
  • Aquaculture
  • Agriculture
  • Others

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:

  • Market Segments
  • Market Dynamics
  • Market Size & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain

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:

  • A detailed overview of the parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

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:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

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.