According to Future Market Insights (FMI), the global algae treatment chemical market is projected to grow from USD 3,238.8 million in 2024 to USD 5,724.0 million by 2034, with a compound annual growth rate (CAGR) of 5.5% over the assessment period.
Rising concerns about water contamination and the harmful effects of algae blooms on ecosystems are driving the surge in demand for algae treatment chemicals. As companies prioritize sustainable practices and regulatory compliance, the need for effective algae treatment solutions becomes crucial for maintaining clean water supplies and optimizing operational efficiency.
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Strict regulatory frameworks and environmental standards compel companies to invest in algae treatment chemicals to ensure compliance and mitigate environmental impacts. Algae-based solutions, such as natural algaecides, are gaining attention due to their biodegradability and reduced environmental footprint.
The algae treatment chemical market is experiencing consolidation through mergers, acquisitions, and strategic partnerships, allowing companies to expand their product portfolios, enhance market presence, and seize emerging opportunities. Moreover, advancements in biotechnology and nanotechnology are leading to the development of innovative, eco-friendly algae treatment chemicals, further propelling 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 a lead analyst 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.
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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 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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