Algaecides Global Market Report 2024

Algaecides, also known as algicides, are biocidal substances designed to eliminate the growth of algae. They are employed to prevent the development of macrophytes and disrupt photosynthesis, ultimately hindering the formation of algal blooms.

The main types of algaecides include copper sulfate, chelated copper, quaternary ammonium compounds, peroxyacetic acid, hydrogen dioxide, and other variations. Chelated copper is specifically used for algae blooms, gradually releasing copper over time as its protective coating dissolves in water. Algaecides are available in various forms such as granular crystal, liquid, and pellets. They find applications in surface water treatment, aquaculture, sports and recreational centers, agriculture, and various other uses.

The algaecides market research report is one of a series of new reports that provides algaecides market statistics, including algaecides industry global market size, regional shares, competitors with an market share, detailed algaecides market segments, market trends and opportunities, and any further data you may need to thrive in the algaecides industry. This algaecides market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The algaecides market size has grown rapidly in recent years. It will grow from $3.54 billion in 2023 to $3.93 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth observed in the historical period can be attributed to factors such as the increase in water pollution, the expansion of agricultural practices, the growth of the aquaculture industry, heightened concern and awareness regarding environmental conservation, and the overall growth of industrialization.

The algaecides market size is expected to see rapid growth in the next few years. It will grow to $6.01 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The anticipated growth in the forecast period can be attributed to factors such as economic growth, the expansion of the tourism industry, increasing urbanization, growing demand for clean water, and rising government support. Key trends expected in this forecast period include the development of sustainable algaecides, the exploration of non-chemical algaecide solutions, the provision of customized solutions, the formulation of innovative algaecide products, and an emphasis on collaboration and partnerships within the industry.

The algaecides market is poised for growth due to the increasing levels of industrialization and the pollution it generates. Industrialization involves the transformation of economies from primarily agricultural to manufacturing-oriented, which often results in environmental degradation, particularly through industrial pollution. Algaecides play a vital role in mitigating the impact of pollutants. For instance, India has the potential to become a global manufacturing hub, with the capability to contribute over USD 500 billion annually to the global economy by 2030. As industrialization progresses, the demand for algaecides continues to rise, driven by the need to combat pollution and maintain environmental balance.

The rise of aquaculture is anticipated to be a significant driver of the algaecides market. Aquaculture involves the cultivation, breeding, and harvesting of aquatic organisms, including fish, algae, shellfish, plants, and other aquatic life, within various water environments. Algae are used in aquaculture for diverse purposes, such as providing nutrition to aquatic creatures, serving as a food additive in aquafeed, and aiding in wastewater treatment. In 2022, according to the Food Outlook Biannual Report from the Food and Agriculture Organization of the United Nations, global fisheries and aquaculture production is projected to increase by 1.2%, with aquaculture production expected to rise by 2.6%. This expansion of the aquaculture industry fuels the demand for algaecides.

A key trend in the algaecides market is product innovation. Prominent companies in the industry are actively developing new products to strengthen their market position. For example, in January 2023, ARQUIMEA, a Spanish agricultural technology company, introduced BIO100, a biological and biodegradable algaecide. BIO100 is crafted from natural, chemical-free materials and combines the capabilities of a biological algaecide with those of sunscreen. This innovative product is designed to cater to agricultural soils, the environment, and their surroundings. The market is witnessing advancements and novel solutions, reflecting a commitment to sustainability and environmental protection.

Major companies in the algaecides market are actively engaging in strategic partnerships to bolster their market presence and cultivate long-term growth strategies. These collaborations are instrumental in leveraging the unique strengths and capabilities of each partner, leading to the development of new products and an expanded market footprint. An illustration of this approach is observed in the May 2022 collaboration between ALSA Ventures, a UK-based biotech investment firm, and Lonza, a Switzerland-based manufacturing partner serving the pharmaceutical, biotech, and nutrition industries. Lonza's services will encompass de-risking, early-stage development, and manufacturing for firms within ALSA Ventures' portfolio. This partnership signifies a strategic move to enhance capabilities and leverage synergies in a competitive market.

In September 2021, Best Agrolife Ltd., an India-based agrochemical company, completed the acquisition of Best Crop Science Private Limited for $12.194 million. This acquisition marks an advancement for the company, offering increased manufacturing capacity, a broader product portfolio, and strengthened research and development expertise. Best Crop Science Private Limited, also an Indian agrochemical company, complements Best Agrolife's strategic goals by reinforcing its abilities to produce active ingredients for herbicides, insecticides, and fungicides. This acquisition aims to fortify the company's market position and accelerate its product development capabilities in the agrochemical sector.

Major companies operating in the algaecides market include BASF SE, N. Jonas & Company Inc., Sanco Industries Inc., Lonza Group AG, UPL Aquatics, SePRO Corporation, Nouryon, Kemira Oyj, Adama Agricultural Solutions, BioSafe Systems, Waterco Limited, Lake Restoration Inc., BioGuard, Oreq Corporation, Olin Corporation, Valagro SpA, Diquat Dibromide, Arch Chemicals, Acuro Organics Limited, Boxer Adjuvant, Control Solutions Inc., Blue Lagoon Products Ltd., Sinofi Ingredients, ACUINOVA - ACTIVIDADES PISCICOLAS S A, Lancer Orthodontics Inc., Mycogen Seeds, Precision Laboratories LLC, Wilbur-Ellis Company, Chautauqua Chemicals Co Inc., Atlantic Laboratories Corporation Ltd.

North America was the largest region in the algaecides market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in algaecides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the algaecides market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The algaecides market consists of sales of polyquats and metallic algaecides. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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