Comprehensive Report on Global Algaecides industry by Knowledge Sourcing Intelligence
Market Overview
Global algaecides market was valued
at US$1.770 billion in 2017 and is projected to expand at a CAGR of 5.94% over
the forecast period to reach US$2.502 billion by 2023. Algaecides are chemical
compounds whose active ingredients kill algae and prevent it from growing in
the pool. They are extensively used in agriculture, aquaculture, and surface
water treatment. In gardening, they are commonly used to prevent the growth of
algae while killing any such parasite that can hinder plant growth and affect
crop production.
These compounds are gaining
traction due to the need to avert the extensive pollution and environmental
degradation caused by the growing industrialization activities. The market is
expected to grow at a fast pace owing to the rising environmental awareness
among the people and increasing problem of nutrient pollution in various
regions. Furthermore, increasing travel and tourism industry in developing
countries will further boost the market for algaecides. However, presence of
substitute such as ultrasonic algae control systems and harmful effects caused
by the algaecides can restrain the growth of the market.
 |
Sample view of global algaecides market share
Global Algaecides Market by Type
By type, the global
algaecides market is segmented as copper-based, quaternary ammonia, and others.
Copper-based segment holds a significant market share of global algaecides
market owing to its increased use for the treatment of HABS and cyanobacteria.
Copper-based algaecides have also been proven to be effective against invasive
species. The market for quaternary ammonia algaecides will witness a CAGR of
XX.XX% between 2017 and 2023. This is due to the rising construction
of swimming pools across the globe. Copper algaecides cannot be used in a
swimming pool as they leave stains on the surface of the swimming pool if not
used properly. Quaternary ammonia-based algaecides are safer than copper-based
which positively impacts the market.
 |
Sample view of global algaecides market share by type
|
Copper-based algaecides market is
projected to reach a market size of US$XX.XX billion in 2023 from US$XX.XX
billion in 2017, at a CAGR of XX.XX% during the forecast period.
Several derivatives of copper including copper sulfate have been used to
control undesirable algae growth in ponds, lakes, and swimming pools.
Copper-based algaecides represent a significant share of global algaecides
market as these are very good and effective for a vast array of algae types
while providing algae prevention for up to 90 days. However, some algae do
build up that are resistant to copper with time which is a restraining factor
for the growth of copper-based algaecides market.
This leads to users then
looking out for non-copper alternatives such as peroxide and oxiranes which
eliminate the need to use heavy concentrations of chlorine when treating algae.
Moreover, copper-based algaecides are effective in killing the algae only for
short duration while their negative impacts are long-term. When a copper-based
algaecide is used, it kills the algae. But as the copper concentration starts
to drop, algae and bacteria start to grow again. This requires regular and
quicker application of copper-based algaecides which are not
environmental-friendly. Moreover, copper-based algaecides kill beneficial
bacteria as well that filter algae from the water column thus further favoring
their use.
Global Algaecides Market by Application
On the basis of application, the
global algaecides market has been segmented as agriculture,
aquaculture, surface water treatment, and others. Surface water treatment is
expected to hold a major market share due to the rising concerns regarding the
water purification measures which otherwise may lead to water borne diseases.
Agriculture is projected to grow at
a CAGR of XX.XX% during the forecast period, reaching a market size of US$XX.XX
billion in 2017 to US$XX.XX billion in 2023. Algaecides are used for slowing
the growth of algae and/ or preventing algal growth. The term “cide”
originates from a Latin word which means “to
kill”. Algaecides are mostly used in the non-production sites like
watersheds and landscaped areas which are used for agricultural purposes. This
does not cover the home and institutional areas. The algaecide application
is therefore not directly related to the crop production instead these help in
contributing towards agricultural production which includes weed and pest
control outside the farm buildings, greenhouses, nurseries, and other growing
operations.
Also, algaecides cover the
treatment of agricultural farm equipment such as sprinklers, drip irrigation
system and tube wells among others, located in the fields to control algal
growth. These promote the agricultural crop production and thus
contributing towards the algaecides market growth as well.Growing
demand for increased crop cultivation owing to the rising population will
require the use of algaecides for algae control and will in the long-run impact
significantly towards the growth of global algaecides market during
the forecast period and beyond.
Request Free Sample or Download the report:
For our Chemicals and Materials coverage:
Comments
Post a Comment