Yahoo Finance Agricultural Algaecides Market Global Market Report 2022: Ukraine-Russia War Impact
Major players in the agricultural algaecides market are Badische Anilin und Soda Fabrik SE, Dow Inc, Nufarm Agriculture Inc. , Bioguard Organics Ltd. , Bayer AG, Lonza Group, Pinch A Penny Inc. , UPL Limited, Oreq Corporation, Waterco Limited, Pool Corporation, Syngenta Group Co.
New York, Dec. 05, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Agricultural Algaecides Market Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06370312/?utm_source=GNW
Ltd, BioSafe Systems LLC, and Airmax Inc.
The global agricultural algaecides market is expected to grow from $ 2.92 billion in 2021 to $ 3.20 billion in 2022 at a compound annual growth rate (CAGR) of 9.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The agricultural algaecides market is expected to grow to $ 4.07 billion in 2026 at a CAGR of 6.2%.
The agricultural algaecides market consists of sales of agricultural algaecides by entities (organizations, sole traders, and partnerships) that are useful in controlling slime molds, algae, and cyanobacteria. Algaecides are natural or synthetic substances used to kill and prevent the growth of algae and any such parasites that can hinder plant growth and affect crop production.
The main types of agricultural algaecides sold on the market are copper sulfate, chelated copper, peroxyacetic acid, hydrogen dioxide, dyes and colorants, and others.In both agricultural and non-agricultural environments, copper sulfate is used in fungicides, algaecides, root killers, and herbicides.
Copper sulfate is a chemical compound denoted as CuSO4 and also called blue vitriol, the vitriol of copper, and bluestone.The different modes of action include selective and non-selective.
The several categories include synthetic and natural algaecides that are available in both solid and liquid forms.
North America was the largest region in the agricultural algaecides market in 2021. The regions covered in the agricultural algaecides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The expansion of the agricultural sector is propelling the growth of the agricultural algaecides market.The agriculture sector includes businesses whose main activities are the production of crops, the breeding of livestock, and the collection of fish and other animals from farms, ranches, or their natural habitats.
The application of algaecides aids in agricultural output by aiding in weed and insect control outside farm buildings, nurseries, greenhouses, and other growing operations.The growth of agriculture directly ensures more and more use of algaecides to improve production and crop quality.
For instance, according to the U.S. Department of Agriculture (USDA), in 2020, $ 1.05 trillion, or 5.0% of the U.S. GDP, came from agriculture, food, and associated businesses. Also, an estimated 0.6% of GDP, or $ 134.7 billion, came from the produce of American farmers. Therefore, the expansion of the agricultural sector is driving the growth of the agricultural algaecides market.
The continuous development of innovative and novel algaecide formulations is a key trend gaining popularity in the agricultural algaecide market.Major market players and researchers are constantly looking to launch innovative formulations to suit various kinds of algae and molds, which offer customers more options to choose from.
For instance, in March 2020, BioWorks, a US-based biotechnology firm, launched its unique broad-spectrum algaecide and fungicide formulation, PERpose Plus. It is useful for the suppression and control of fungus and algae on equipment and hard surfaces in all stages of crop production and post-harvest usage.
In July 2019, Excellere Partners, a US-based private equity investment firm, acquired SePRO Corporation for an undisclosed amount.Through this acquisition, Excellere hopes to grow SePRO through a mix of infrastructure investments, increased market penetration of its current products into both existing and new industries, and the commercialization of new technologies.
SePRO Corporation is a US-based manufacturer of herbicides, insecticides, and algaecides.
The countries covered in the agricultural algaecides market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The agricultural algaecides market research report is one of a series of new reports that provides agricultural algaecides market statistics, including global market size, regional shares, competitors with agricultural algaecides market share, detailed agricultural algaecides market segments, market trends, and opportunities, and any further data you may need to thrive in the agricultural algaecides industry. This agricultural algaecide market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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