Increasing Demand from Sports and Recreational Centers Drives Market for Algaecide

The global algaecide market is expected to demonstrate stupendous growth in the forthcoming years, states the report published by TMR Research. The report titled “Algaecide Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 – 2029” highlights that the algaecide market will witness increasing demand owing to a wide range of application of algaecides. Some of the key applications of algaecides are surface water treatment, sports and recreational centers, agriculture, aquaculture, and others.

The latest TMR Research report on the global algaecide market offers detailed analysis of key elements supporting the market growth during forecast period of 2019–2029. It covers reliable data on revenues, volume, and shares of key players in the market for algaecide. Besides, the report focuses on diverse strategies executed by important vendors. In short, the report works as a perfect guide for all entities involved in the global algaecide market.

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Growing Application Areas Boost Demand for Algaecides

The global algaecide market is witnessing stupendous growth avenues on the back of increasing demand from various sectors. Of them, the algaecide market is expected to gather remarkable revenues from sports and recreational centers. In recent years, the disposable income of the worldwide population is increased significantly. This has allowed them to spend on recreational activities. As a result, the number of recreational centers, water parks, and swimming pools are expected to increase in the upcoming period. This situation will support the growth of the global algaecide market in the upcoming years.

One of the key uses of algaecides is in the prevention of algae in swimming pools, water parks, and other recreational centers. Generally, chlorine is used to prevent the growth of algae present in the water. Thus, growing demand from recreational centers and others will drive the growth of algaecide market during forecast period.

The competitive landscape of the global algaecide market is fairly fragmented owing to presence of well-established global and local players. The presence of many players signifies the intense level of competition in the market for algaecide. Many enterprises are chasing various strategies to strengthen their market position. Some of the popular strategies used by vendors are partnerships, collaborations, and mergers and acquisitions.

Besides, several companies are growing their investments on research activities. Main motive of this move is to offer superior quality products. Another strategy that will remain on the top of the list is new product launches. Thus, all these moves are supporting to drive the growth of the global algaecide market.

UPL Limited, BASF SE, Biosafe systems, Oreq Corporation, waterco Limited, Dow chemical company, Se Pro Group, Nufarm Limited, and Lonza Group are some of the key players in the global algaecide market.

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COVID-19 Epidemic to Hamper Market Growth in North America and Europe

According to the report by TMR Research, the global algaecide market is spread across six key regions, namely, Europe, North America, East Asia, Latin America, MEA, and South Asia and Oceania. Of them, North America was one of the dominant regions in the last few years. Key reason for this dominance was increased disposable income of the major population in the region. Presence of significant number of swimming pools in the U.S. has pushed the demand for algaecides. Besides, growing understanding about algaecides and their application has helped in stimulating the growth of the algaecide market in North America.

Europe was the second-largest consumer of algaecides in recent years. However, the algaecide market is projected to experience setback for some time in North America and Europe owing to COVID-19 epidemic.

Author: Rohit Bhisey

As Head of Marketing at TMR Research, Rohit brings to the table over a decade of experience in market research and Internet marketing. His dedication, perseverance, and passion for perfection have enabled him to achieve immense success in his field. Rohit is an expert at formulating new business plans and strategies to help boost web traffic. His interests lie in writing news articles on technology,healthcare and business.

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