Algaecides Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Algaecides Markett is Segmented By Type (Chelated Copper, Quaternary Ammonium Compounds, Chelated Copper, Peroxyacetic Acid & Hydrogen Dioxide, Dyes & Colorants​​​​​​​, Others), By Form (Liquid, Dry), By Mode of Action (Selective, Non-Selective), By Application (Surface Water Treatment, Aquaculture​​​​​​​, Sports & Recreational Centers​​​​​​​, Agriculture, Others), By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Algaecides Market Overview

The global algaecides market reached USD million in 2022 and is projected to witness lucrative growth by reaching up to USD million by 2030. The market is growing at a CAGR of 7.8% during the forecast period (2023-2030). Algae or cyanobacteria are controlled by the use of algaecide.

Algaecide effectiveness is influenced by a number of variables, including application rates, the chemistry of the water, and product formulation. The demand for food and water is rising, people are becoming more aware of the advantages of using algaecides, and people are becoming more concerned about the environmental damage that chemical-based algaecides are causing. These factors contribute to the growth of the global algaecides market. The growth of this market during the forecast period, however, may be constrained by strict government regulations regarding the use of synthetic chemicals in agriculture. The synthetic algicides and natural algicides categories make up the global algaecides market. Due to its superior ability to control algae growth when compared to natural algicide products, the synthetic segment is anticipated to dominate the global algaecide market during the forecast period.

Algaecides Market Scope

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Algaecides Market Dynamics

The increase in consumers’ disposable income

The market for algaecides is expected to grow as a result of rising disposable income, which enables people to live better lifestyles. Global consumers' rising disposable income increased their purchasing power and raised their standard of living, providing the global algaecides market with excellent growth prospects. For instance, on June 17, 2022, Stephan launched algaecides for swimming pool water treatment. Every pool water treatment program starts and ends with sanitization. Chlorine or bromine is the most widely used sanitizer, which consists of algaecide properties. The U.S. Environmental Protection Agency (EPA) has granted permission for biguanide sanitizers to be used in swimming pools. However, a lot of regional regulations only permit their use in private pools, not public ones. Chlorine/bromine and biguanides are two different types of sanitizers that are added to swimming pool water to sanitize the water and protect swimmers by eliminating dangerous algae.

However, various organizations, including the EPA and the EU, have implemented regulations or guidelines for the use, application, and transportation of algaecides. Certain silver compounds will not be permitted for use in biocidal (such as antimicrobial) products, according to the EU Commission. This could have effects both inside and outside of the European Union, including the U.S. and other markets where various ‘silver-treated’ goods are produced for global distribution. Therefore, it is anticipated that strict government guidelines and regulations regarding the use and direct application of algaecides that may be harmful to any living thing, including humans and animals, will limit the growth of the algaecides market.

Algaecides Market Segment Analysis

The global algaecides market is segmented based on type, form, mode of action, application and region.

Liquid segment holds the highest share in the global algaecides market

Liquid algaecide is a potent algae depressant that is used to keep pool water sparkling and to stop algae growth. The main reason for ‘off’  colors in the swimming pool water is algae growth. Prevention is crucial, and the controlled application of liquid algaecide will keep the water clear and glossy. Liquid algaecides are patented formulations that not only function as preventative measures but also as pool clarifiers that stop the growth of all kinds of algae. Liquid algaecide serves as insurance against the occurrence of algae and the pricey remedies that go along with it when used as part of a regular pool maintenance program. Pool water stays clear and wallets are stuffed with liquid algaecides. 

Source: DataM Intelligence Analysis (2023)

Algaecides Market Geographical Share

Asia-Pacific holds the highest share in the global algaecides market

In 2022, the Asia Pacific region held a share of more than  of the global market in terms of revenue. Due to rising water pollution from sewage sludge and industrial effluents, the area is predicted to experience significant growth. Over the forecast period, increasing consumer awareness about environmental protection combined with strict regulations intended to reduce water pollution are likely to drive product demand. 

The existence of a large number of small-scale manufacturers in countries like China, India, Japan, South Korea, and Taiwan has led to a highly fragmented industry. These countries have a well-established aquaculture industry that makes a significant contribution to economic growth and rural employment. This makes it one of the most lucrative markets for foreign investors seeking high returns on their investments with little risk compared to other industries operating within economies like Brazil or Argentina. The market for algaecide is anticipated to grow in the future due to rising industrialization and the resulting pollution levels. Algaecides are useful in the prevention of these pollutants, which are a result of industrialization and environmental degradation. India, for instance, has the potential to develop into a major manufacturing hub, contributing more than US$ 500 billion annually to the global economy by 2030, according to the India Brand Equity Foundation, a government export promotion organization based in India.

On the other hand, the second-largest market for algaecides is in North America. For instance, on March 8, 2020, PERpose PlusTM, a broad-spectrum algaecide and fungicide for equipment and hard surfaces, as well as for post-harvest and storage applications, was introduced by BioWorks, a U.S.-based biotechnology company active in the algaecides market. This innovative formulation uses a special combination of stabilizers and buffers to fight phytotoxicity.

Source: DataM Intelligence Analysis (2023)

Algaecides Market Companies

The major global players in the market include BASF SE, Dow, Nufarm Limited, Lonza Group AG, UPL Limited, SePRO Corporation, Waterco Limited, BioSafe Systems, LLC, Airmax, Inc., and Oreq Corporation among others.

Key Developments

• On October 18, 2020, a deal was made to purchase Applied Biochemists for an undisclosed sum by SePRO Corporation, a life sciences company with a research-focused U.S.-base. Through this acquisition, Applied Biochemists will be able to offer new technologies and professional services for the preservation, defence, and restoration of surface water resources, to SePro.
• On September 9, 2021, Best Agrolife Ltd., an India-based company, acquired Best Crop Science Private Limited for an undisclosed amount. Through this acquisition, Best expands its manufacturing capacity, broadens its product line, and strengthens its R&D and synthesis capabilities for the production of active ingredients for herbicides, insecticides, and fungicides. 
• In March 2020, BioWorks launched a broad-spectrum algaecide and fungicide called PERpose PlusTM. It is used for post-harvest and storage applications as well as for the prevention, suppression, and control of fungus and algae on machinery and hard surfaces. This special mixture of stabilizers and buffers fights phytotoxicity.

Why Purchase the Report?

• To visualize the global algaecides market segmentation based on type, form, mode of action, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of algaecides market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global algaecides market report would provide approximately 53 tables, 54 figures and 195 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies