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Global Algaecides Market Research Report 2021, Industry Growth Trends, Competitive Analysis And Forecast 2040 | Lexis Business Insights

Algaecides Market size was valued at USD 2.29 Billion in 2019 and is projected to reach USD 3.67 Billion by 2027, growing at a CAGR of 6.51% from 2020 to 2027.

Due to the growth of industrialization and urbanization, the occurrence of algae growth has increased as favorable conditions are created due to the emission of effluents and waste. Moreover, with the rise in awareness of good agricultural practices, the use of algaecide is expected to increase which further augments the growth of the market. The Global Algaecides Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Algaecides Market Definition
Algaecide, also known as algicide, is a biocide that is used for killing and preventing the growth of cyanobacteria or algae. These compounds are used in treating various species of filamentous, branched, as well as planktonic algae. Algaecide is selected on the basis of factors such as product formulation, quantity of application, water chemistry and the species to be treated. These are widely used in agriculture, aquaculture, recreational & sports sites, and surface water treatment. Algaecides are widely used in aquaculture in order to maintain a viable condition for the growth of farm fishes and to protect them from any adverse effects.
In the report, the market outlook section mainly encompasses the fundamental dynamics of the market which include drivers, restraints, opportunities, and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.

The rise in the level of industrialization has led to the emission of effluents in the water bodies and land which creates a breeding ground for algal growth which further degrades the biology of the surrounding environment. If left untreated for a longer period of time, algal growth can have an adverse impact on the surrounding environment leading to degradation. In order to curb the growth of different species of algae coupled with the stringent environmental regulations norms, the demand for Algaecide to treat these algae species have contributed to the growth of the market.
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Found: 30.11.2022

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