Summary - A new market study, titled “Global Dicamba Herbicide Market - Upcoming Trends, Growth Drivers and Challenges – Forecast to 2026” has been featured on WiseGuyReports.
Global Dicamba Herbicide Market - Overview:
Dicamba is a benzoic acid compound that is used as selective herbicide in wide range of weed management practices across the globe. Since its first registration as herbicide in 1967, dicamba herbicides have been extensively in use in agricultural practices for controlling the growth of perennial weeds in cotton, soy, wheat and other crops. It is used as an active ingredient in various weed control products intended for killing weeds in crop lands, lawns, and roads. The global dicamba herbicide market valued USD XX billion in 2018 and is estimated to reach USD XX billion by 2026, at a CAGR of XX% during the forecast period.
Global Dicamba Herbicide Market - Dynamics:
The development of dicamba-tolerant crops is the major driver for the growth of the market. In 2017, Monsanto launched Roundup Ready Xtend, a decamba-resistant GM soy variant and the company now under Bayer AG is planning to launch XtendFlex soybean technology that is tolerant to dicamba, glyphosate, and glufosinate. The need for crop protection has been rising with growing demand for food and declining arable land. This is forcing the farmers towards effective weed management and use of herbicides. Dicamba based herbicides evolved as a solution owing to their potential to control the growth of weeds in wide array of crops, thereby resulting in increased yield and quality of produce. Furthermore, the bans imposed on glyphosate based herbicides and development of glyphosate-tolerant weeds is supporting the growth of the market in Europe region.
However, the toxic effect of dicamba herbicides, particularly acid formulations on farmers and environment is hindering the growth of global dicamba herbicide market. The tendency of dicamba herbicides to drift to surrounding fields results in widespread damage to non dicamba-tolerant crops. According to EPA estimates, over 3.6 million acres of soybean were damaged by dicambia in U.S. alone in 2017.
Global Dicamba Herbicide Market –Market Segmentation:
The global dicamba herbicide market has been segmented by form into liquid and granular. Liquid dicamba herbicides evolved as the largest segment of the market owing to ease of application benefit of liquid formulations over their dry counterparts. The rising practice of foliar application is driving the growth of liquid dicamba herbicide market across the globe. The advantages offered by direct fertilization of herbicides such as easy absorption into plant parts and almost instant functioning is motivating the use of liquid formulations. These products are applied by the means of hose sprayers, aerosol sprays, and other foliar techniques.
By geography, global dicamba herbicide market is segmented into North America, South America, Europe, Asia Pacific, Middle East and Africa. North America evolved as the largest market for dicamba herbicide market owing to large demand for selective herbicides in the region. The use of dicamba herbicides was first registered in U.S. and since then the market has been witnessing significant growth. However, the growing demand for high-performance herbicides in China, India, and other Asian countries owing to rise of precision farming practices made Asia Pacific as the fastest growing market for dicamba herbicides.
The global dicamba herbicide market is consolidated with global agrochemical companies such as Syngenta, Monsanto, BASF, Nufarm, and Adama. Other key players in the market are Gharda Chemicals Ltd., Alligare, LLC, SinoHarvest, Royal Fertichem Pvt. Ltd., and Shanghai Profirst Co., Ltd.
The potential of dicamba in restricting the spread of weeds such as pigweed has motivating the use of this herbicide. However, the adverse effect of dicamba on vegetation and ecosystem resulted in heated argument among farming communities and environmentalists. This has resulted in imposition of several restrictions and even bans on the use of dicamba. For instance,
- In December 2017, Arkansas imposed ban on use of dicamba in crop protection activities and the ban was effective during April to October of 2018. However, after expiration of the ban, on October 31, 2018 the United States Environmental Protection Agency (EPA) approved the use of this weed killer for the next two years in the state. The state also restricted the use of dicamba earlier in July 2017
- In July 2017, the Missouri Department of Agriculture (MDA) banned the sale and use of dicamba products in Missouri
The bans and approvals on the use of dicamba in Arkansas and Missouri is growing misconceptions among farmers in several states of the country and across the globe. Manufacturers are focussing towards effective labelling of the product and development of high performance dicamba that do not drift to other crops and vegetation. This would result in a significant growth opportunity for major agrochemical companies to increase their share in the market.
Other key developments in the global decamba herbicide market are
- In April 2019, Syngenta announced that its dicamba herbicide Tavium Plus VaporGrip has been registered by U.S. EPA and the product will available for farmers in 2019 growing season
- In April 2018, Monsanto launched a product that deactivates decamba present inside the spraying equipment. This product, first of its kind helps farmers in preventing unintended application of decamba traces on crops
- The complexities associated with use of dicamba has increased the need for better labelling and use case assistance. In 2018, Monsanto and BASF individually launched web-based applications that help farmers and applicators about suitable spraying conditions
- The agreement made by EPA with major dicamba manufacturers BASF, DuPont, and Monsanto is another key development in the dicamba herbicides market. The agreement is made in October 2017 to minimize the drift potential of dicamba products that are used for controlling weeds in cotton and soybean
- In March 2017, BASF expanded the capacity of its herbicide dicamba production plant in Texas. Dicamba is used as active ingredient in Engenia, the high efficient herbicide of the company
Why Purchase the Report?
- Visualize the composition of the global dicamba herbicide market across each indication, in terms of type, nutrient, and crop type highlighting the key commercial assets and major players.
- Identify commercial opportunities in global dicamba herbicide market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of the global dicamba herbicide market - level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key products of all major market players
- Agrochemical Manufacturers
- Farming and growing communities
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
Wise Guy Reports is part of the Wise Guy Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe.
Ph: +162-825-80070 (US)
Ph: +44 2035002763 (UK)