Understanding the importance of Algaecides
Algaecides are often called biocide (chemical) which is generally used for killing and preventing the growth of algae. It is difficult task to kill black algae due to its waxy coating; hence most algaecides are designed to remove black algae. Algaecides include chelated copper, copper sulfate, and quaternary ammonia, among others.
Growing environmental awareness of nutrient pollution
Nutrient pollution is one of the most widespread, costly, and challenging environmental problems that the world is facing today and is caused by surplus nitrogen and phosphorous in the water. Rapid Industrialization across the globe is causing nutrient pollution in the water bodies, thus forming algae in them. Nutrient pollution can lead to serious problems such as a low level of oxygen dissolved in the water. Severe algal growth not only blocks the light that is needed for plants such as seagrasses to grow but also when the algae and seagrasses die, they decay. In the process of decay, the oxygen in the water is used up and leads to a low level of dissolved oxygen in the water which in turn can kill fish, crabs, and other aquatic animals. Environmental awareness of nutrient pollution is the key driving factor that is boosting the algaecides market growth. For instance, Environmental Protection Agency (EPA) is working diligently with its partners to combat nutrient pollution and prevent algae formation in the United States water bodies. These agencies are also working on regulatory programs such as reviewing and approving state water quality standards that contain numeric nutrient criteria under the Clean Water Act and publishing strict guidelines for industrial and municipal discharges that may contain nutrient-related limits.
Rising demand for high agricultural productivity
Population pressure is continuing to be the deciding factor against proper land and water management in many developing countries. Agriculture production is critical for any form of suitable future but focusing on the agriculture industry alone without regard for other important factors that influence and increase food production is certainly not the way to tackle the problems of food security. The application of algaecides is not causally related to the production of crops, instead, it helps in contributing towards agricultural production which includes weed and pest control outside the farm buildings, nurseries, greenhouse, and other growing operations. In addition, Growing demand for increased crop cultivation owing to the rising population requires the use of algaecides as it covers the treatment of agricultural farm equipment such as sprinklers, drip irrigation systems, and tube wells among others, located in the fields to control algal growth. With the rise in population growth and limitation to the usage of natural resources, there is an increasing demand for high agricultural productivity. A high level of productivity needs to accompany the growing demand for food and agricultural products which are considered as the driving factor for the growth of the algaecides market.
Regulatory issue
The restriction for using algaecides in the aquatic or water environment is defined on the manufacturer’s product label and may include restrictions for water use after algaecide application. Rules and regulations set by the governing bodies are expected to hinder the market growth during the forecast period. Some states require applicators of algaecides to be licensed and certified and expect to have much understanding about the whole process of algaecides along with the environmental concerns. For instance, algae control approaches within National Pollutant Discharge Elimination System (NPDES) framework have certain guidelines like the discharge of residual algaecides must meet the applicable water quality standards; it must meet basin plan narrative objectives for floating material, suspend material and toxic pollutants among many others. Following the conditions of regulatory authorities and aquatic pesticide monitoring requirements may not be considered as the cost-efficient tool for the manufacturers and vendors before applying algaecides in the water bodies thus is expected to restrain the favourable algaecides market trend in the coming years.
Segment Overview
The algaecides market has been segmented based on type, application, and geography. On the basis of type, the segmentation is done based on copper-based, quaternary ammonia, others. By application, the segmentation is done into agriculture, aquaculture, surface water treatment, others. Geographically, the global algaecides market is segregated into the Americas, Europe Middle East and Africa, and the Asia Pacific. The Americas is projected to hold a noteworthy share in the global algaecides market. As per the data published by the Food and Agriculture Organization (FAO), the U.S. is the third-largest marine capture producer with the total production valued at 4.72 million tons in 2018. Furthermore, the country remained one of the major exporters of fish and fish products globally and witnessed a significant increase in exports in recent years. The rising number of hotels and restaurants in the country coupled with increasing expenditure on amusement and recreation facilities will increase the number of swimming pools, thereby adding to the demand for algaecides in the country. Furthermore, companies are increasing their research and development expenditure to introduce a new product in the market, thereby augmenting the demand for algaecides. In Canada, economic growth and favorable long-term economic outlook of the Canadian economy will continue the trend of increasing aquaculture expenditure. Rising residential construction investment will bolster the number of swimming pools and fountains in the country owing to the improvement in the standard of living and rising disposable income. This will boost the demand for algaecides in Canada over the next five years.
Asia Pacific region is anticipated to witness exponential growth in the coming years and an increasing number of tourists arriving in countries like China and India will boost the expenditure for restaurants and hotels offering luxury amenities such as a swimming pool for tourists and ponds & fountains for providing an aesthetic appeal. The booming number of swimming pools and fountains in hotels coupled with rising construction expenditure in the region will drive the demand for algaecides over the forecast period.
ABOUT THE AUTHOR:
Rajat Sudan is a Market Research Analyst at Knowledge Sourcing Intelligence, working on estimates and global/regional specific reports on multiple industries ranging from healthcare to agriculture, with a special knack for agriculture sector. With the addition of his formal education in Economics, Commerce, and Finance, he is able to provide more light on the macro aspects of the story. To read more articles by him, and for more information regarding multiple global markets, visit www.knowledge-sourcing.com.
