In the algae treatment market, North America is poised to maintain its lead,
projected to claim 26.5% of the global market share by 2034. This
dominance stems from rising demand for chemicals in the
agricultural sector, driven by a shift towards sustainability among
farmers and agribusinesses. Additionally, algae cleaners are
gaining traction for controlling algae blooms in irrigation
systems, thereby enhancing water efficiency and crop vitality.
These factors collectively underscore North America's pivotal role in shaping the
future landscape of algae treatment solutions.
NEWARK, Del., May 8, 2024 /PRNewswire/ -- According to Future
Market Insights (FMI), the algae treatment chemical market
value is forecast to increase from USD 3,238.8 million in 2024
to USD 5,724.0
million in 2034. Over the assessment period, global demand
for the algae treatment chemical market is projected to surge at a
CAGR of 5.5%.
With growing worries about water contamination and the negative
impacts of algae blooms on ecosystems, the algae treatment market
is expected to surge. As leading companies seek sustainable
practices and regulatory compliance, the demand for algae treatment
chemicals grows, making it an essential component in maintaining
clean water supplies and maximizing operational
efficiency.
Strict regulatory frameworks and environmental standards require
key companies to invest in algae treatment chemicals to assure
compliance and reduce environmental effects.
Algae-based solutions, like algaecides derived from natural
sources, are gaining attention due to their biodegradability and
lower environmental impact.
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The algae treatment chemical market is undergoing consolidation
through mergers, acquisitions, and strategic partnerships, enabling
companies to expand product portfolios, enhance market presence,
and capitalize on emerging opportunities. Furthermore, advancements
in biotechnology and nanotechnology are paving the way for the
creation of innovative, eco-friendly algae treatment chemicals,
fueling the market growth.
Key Takeaways from the Report
- The global algae treatment chemical market was valued
at US$ 3,070.0
million in 2023.
- The algae treatment chemical market value is set to
reach US$ 3,238.8
million in 2024.
- Global algae treatment chemical market demand is anticipated to
rise at 5.5% CAGR.
- The global algae treatment chemical market size is set to
reach US$ 5,724.0
million by 2034.
- India is expected to rise
at 5.6% CAGR through 2034.
- Based on product type, the algaecide segment is projected to
surge at 4.5% through 2034.
"Algae monitoring, identification, and treatment are
increasingly utilizing new technologies like artificial
intelligence, machine learning, and the Internet of Things (IoT).
Algae treatment companies are becoming more effective and efficient
because of digitalization, which is spurring innovation and market
expansion." - Says Nikhil Kaitwade, Associate
Vice President at Future Market Insights (FMI).
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Competitive Landscape
The algae treatment chemical market is consolidated, with
leading players accounting for 40% to 45% share.
Applied Biochemists, BioSafe Systems LLC, LG Sonic, Ocean Harvest
Technology, SePRO Corporation, and BASF SE are the leading
manufacturers and suppliers of the algae treatment chemical market
listed in the report.
Key global algae treatment chemicals companies are investing in
continuous research to produce new products and increase their
production capacity to meet end-user demand. To strengthen their
global footprint, they are directed toward adopting growth
strategies, including acquisitions, partnerships, mergers, and
facility expansions.
Recent Developments –
- December 2021: Arxada AG,
a global leader in specialty chemicals, acquired Enviro Tech
Chemical Services, Inc., a category-leading manufacturer of
proprietary and high-efficiency antimicrobial and biocidal
products.
October 2023: Solenis
acquired Cedarchem, enhancing water and wastewater treatment
capabilities in the southeastern United States.
Key Companies Profiled
- Applied Biochemists
- BioSafe Systems LLC
- LG Sonic
- Ocean Harvest Technology
- SePRO Corporation
- BASF SE
- Nalco Water (an Ecolab Company)
- Kemira Oyj
- Solenis LLC
- Corteva Agriscience
- USA Water Services
Corporation
- BioPetroClean
- Algaecytes Ltd.
- Accepta
- Evoqua Water Technologies
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More Insights into the Algae Treatment Chemical Market
Report
In its latest report, Future Market Insights (FMI) offers an
unbiased analysis of the algae treatment chemical market, providing
historical data from 2019 to 2023 and forecast statistics for the
period 2024 to 2034.
To understand the global market potential, growth, and scope,
the market is based on product type (algaecides, coagulants and
flocculants, pH adjusters, oxidizers, biocides, nutrient reduction
chemicals, others), algae type (macroalgae, microalgae), form
(liquid, solid), end-use industry (municipal water treatment,
industrial water treatment, agriculture, healthcare and
pharmaceuticals, food and beverage, others), and region.
About the Chemicals and Materials Division at Future Market
Insights (FMI)
The chemicals and materials division of Future Market
Insights (FMI) offers a distinct and pinpoint analysis of the
chemicals and materials industry. This exhaustive coverage extends
from commodity, bulk, specialty, and petrochemicals to advanced
materials, composites, and nanotechnology in particular, with
special emphasis on 'green alternatives, recycling and renewable
technology developments, and supply-demand-trade assessment. Our
research studies serve as referencing market guidelines for
chemical manufacturers, research institutions, channel partners,
and government bodies for developing – 'The Way
Forward'.
Authored By
Nikhil Kaitwade (Associate Vice President at Future Market
Insights, Inc.) has over a decade of experience in market research
and business consulting. He has successfully delivered 1500+ client
assignments, predominantly in Automotive, Chemicals, Industrial
Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research
methodology, creating a unique analysis framework, statistical data
models for pricing analysis, competition mapping, and market
feasibility analysis. His expertise also extends wide and beyond
analysis, advising clients on identifying growth potential in
established and niche market segments, investment/divestment
decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in
Mechanical Engineering. Nikhil has authored several publications
and quoted in journals like EMS Now, EPR Magazine, and EE
Times.
Have a Look at Related Research Reports of Chemicals
& Materials
The biocides market is anticipated to expand its
boundaries at an average CAGR of 3.4% during the forecast period.
The market holds a share of US$ 8.9
Billion in 2023 while expecting revenue of US$ 12.5 Billion by 2033.
The global flocculant and coagulant market is
forecasted to be valued at US$ 6,738.6
million in 2023. Over the forecast period, flocculant and
coagulant sales are expected to grow at a CAGR of 5.5%, to be
valued at US$ 11,510.5 million.
The global water treatment polymers market is expected
to attain a valuation of US$ 43.32
billion in 2023, and is projected to reach US$ 81 billion by 2033. From 2023 to 2033, the
market is poised to rise at a CAGR of 6.4%.
The water treatment chemical market is predicted to
attain a market valuation of US$ 38.6
billion in 2024, growing at a sluggish compound annual
growth rate (CAGR) of 4.2% from 2024 to 2034.
The global industrial wastewater treatment chemical
market size is estimated to rise from US$ 15.3 billion in 2024 to US$ 26.8 billion by 2034. From 2024 to 2034, the
market is anticipated to climb at a CAGR of 5.8%.
The market is expected to rise at a 3.8% CAGR from 2024 to
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The global cooling water treatment chemicals
market will likely reach a market value of US$ 12,614
Million in 2023 and is expected to accumulate a market value
of US$ 22,589.75 Million by registering a CAGR
of 6% in the forecast period 2023-2033.
The global sludge treatment chemicals market is
estimated to be valued at around US$ 9,561.7
million in 2023 and is further projected to reach
US$ 14,456.8 million by 2033.
Over the forecast period 2024 to 2034, titanium diboride demand
is anticipated to rise at 6.7% CAGR. Total market value is
predicted to increase from US$ 60.0
million in 2024 to US$ 114.3
million by 2034.
The global algaecides market is estimated to be valued
at US$ 3.04 billion in 2023 and is
expected to reach a valuation of US$ 5.09
billion by 2033. The demand for algaecides is estimated to
record a steady 5.3% CAGR.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the
Stevie Award, and a member of the Greater
New York Chamber of Commerce) offers profound insights into
the driving factors that are boosting demand in the market. FMI
stands as the leading global provider of market intelligence,
advisory services, consulting, and events for the Packaging, Food
and Beverage, Consumer Technology, Healthcare, Industrial, and
Chemicals markets. With a vast team of ~400 analysts worldwide, FMI
provides global, regional, and local expertise on diverse domains
and industry trends across more than 110 countries.
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