Algaecides Market Worth 2.79 Billion USD by 2022

Monday 21 November 2016, Amsterdam

The report, now available on ASDReports, "Algaecides Market by Type (Copper Sulfate, Chelated Copper, QAC, Peroxyacetic Acid & Hydrogen Dioxide), Application (Surface Water Treatment, Aquaculture, Sports & Recreational Centers, Agriculture), Form, and Region - Global Forecast to 2022", The algaecides market is projected to reach a value of USD 2.79 Billion by 2022, at a CAGR of 6.52% from 2016 to 2022.

The market has been gaining importance due to the need to avert the extensive pollution and environment degradation caused by the growing industrialization activities. Innovative algaecide formulations, being highly efficient and are easy to use, are projected to serve as a major factor to drive the growth of the algaecides market.

The application of algaecides in aquaculture segment was the largest in 2015.
The aquaculture segment accounted for the largest share in algaecides market due to its significant growth as an organized sector in the global market. The adverse effect of environmental pollution on farm fishes through water-borne diseases can reduce the export value of the products; this has resulted in extensive application of algaecides.

Peroxyacetic acid & hydrogen dioxide is projected to be the fastest growing algaecide type for next six years
On the basis of type, the peroxyacetic acid & hydrogen dioxide segment is projected to grow at the highest growth rate from 2016 to 2022. The lethal effect of copper-based products on aquatic life has been a significant concern for government authorities and environmentalists, which has given rise to eco-friendly alternatives such as peroxyacetic acid & hydrogen dioxide and endothall salts. Therefore, the peroxyacetic acid & hydrogen dioxide segment is projected to be the fastest-growing segment.

North America dominated the algaecides market in 2015
The North American region accounted for the largest market share in the algaecides market in 2015. Nutrient pollution is one of the critical, costly, and challenging environmental problems which is widespread in North America. The strong emphasis on controlling environmental pollution in North America, supported by regulatory framework, especially in the U.S., has led to an increased demand for algaecides in the region.