- Algaecides are mainly used in aquaculture to promote aquatic life by preventing algae growth which inhibits the growth of other aquatic life.
- Limited availability of cultivable land is boosting demand for algaecides to increase farm productivity.
- Increasing demand for fish by consumers is supporting the algaecide use among fish farms.
An algaecide is a chemical treatment designed to kill and prevent algae growth. There are mainly two types of algaecides: natural algaecides and synthetic algaecides. They are applicable in agriculture, surface water treatment, aquaculture, and others.
Algaecides are mainly used in aquaculture to promote aquatic life by preventing algae growth which inhibits the growth of other aquatic life. Moreover, algaecides are used in agriculture to prevent the degradation of soil quality caused by algae. Increasing pollution has caused an increase in the growth of algae and raised the need for algaecides.
Increasing population and growing demand for food have led to high agricultural productivity which is driving the growth of the algaecides market. Moreover, limited availability of cultivable land is boosting demand for algaecides to increase farm productivity.
Major factors such as water, temperature, rain, sunlight, pH, and mineral content are driving the algaecides market growth. Moreover, increasing demand for fish by consumers is supporting algaecide use among fish farms. However, stringent regulations on the use of algaecides may hamper algaecide market growth. Nevertheless, all these factors are projected to contribute to an estimated CAGR of 3.9% in the algaecides market during the forecast period 2017-2023.
Algaecides market is segmented based on type such as natural algaecides and synthetic algaecides. Among them, the synthetic algaecides segment is seen to be dominating the market and is projected to grow potentially over the forecast period.
Based on the form, the algaecides market is segmented into granular, liquids, and others. The granular segment accounted for the largest market share based on its effectiveness and higher penetration in the algal cells.
Based on application, the algaecides market is segmented into agriculture, surface water treatment, aquaculture, & others. Among all, the aquaculture segment is projected to be dominating the market with a potential growth over the estimated period.
Based on the mode of application, the algaecides market is segmented into selective algaecide and non-selective algaecide. Among them, the non-selective algaecide is dominating the market due to high efficiency and improved control at a range of algal species.
The major players in the algaecides market are The Dow Chemical Company (U.S.), BASF SE (Germany), Lonza Group (Switzerland), Waterco Limited (Australia), Sepro Corporation (U.S.), Oreq Corporation (U.S.), and Biosafe Systems, LLC (U.S.).
The global algaecides market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). North America is dominating the market followed by Europe. In North America, Canada is the major contributor of algaecides, followed by the U.S.