Global Fungicides Market
Fungicides are the chemical compounds, which are used to kill the fungi or fungi spores in crops. Fungal infections are a major cause of crop loss and it is a massive threat for cultivation wheat, maize, rice, soybean, fruits & vegetables, and sugarcane among others. Fungicides help in the crop protection and gives the better quality products with higher yield. Fungicides are classified into either selective to cure specific fungicides or non-selective with the broad spectrum activity and show activity against multiple fungal diseases. Sulfur is the common active ingredient used in the fungicides and the most commonly used fungicides include mancozeb, prochloraz, propiconazole, and chlorothalonil among others.
Market Dynamics: Fungicides Market
Factors anticipated to drive the fungicides market are increase in the demand for crop protection for better yields, increase in global population coupled with increase in the demand for food, and growing use of fungicides due to rise in incidence of fungal infections. Moreover, development in novel farming practices, shrinkage in arable land, and innovation and launching of newer products into market are expected to propel the fungicides market revenue over the forecast period. However, technological advancements in the seeds, use of genetically modified crops, adverse effects associated with the fungicides, and lack of awareness about the fungal infections in farmers might hamper the growth of the fungicides market over the forecast period.
Market Scope: Fungicides Market
Fungicides market is segmented on the basis of product type, crop type, formulation type, and mode of application
Based on the product type, fungicides market is segmented into the following:
Dithiocarbamates
Chloronitriles
Triazoles
Benzimidazoles
Phenylamides
Strobilurins
Based on the crop type, fungicides market is segmented into the following:
Oilseeds and pulses
Cereals and grains
Forage crops and pastures
Others
Based on the formulation type, fungicides market is segmented into the following:
Water-dispersible granules
Liquid
Wettable granules
Based on the mode of application, fungicides market is segmented into the following:
Soil treatment
Seed treatment
Foliar spray
Post-harvest
Market Summary: Fungicides Market
Fungicides market is growing moderate rate over the forecast period due to advancements in the seed technology, which might lag the revenue growth of fungicides market. Farmers are majorly focusing to improve the crop yield due to rise in global population coupled with decrease in arable land. Various agriculture institutes and governments around the globe are taking initiation to create awareness about fungicides usage for crop protection. Moreover, increase in the sale of ornamental plants for outdoor and indoor applications due to increase in the urbanization also expected to fuel the fungicides market. In addition, acquisitions and mergers, collaborations, product approvals, and product launchings are the strategies followed by the companies for increasing their revenue share in fungicides market. For instance, in April 2014, Sumitomo Corporation acquired crop protection fungicide Metominostorbin, a broad-spectrum systemic fungicide from Bayer Crop Science Japan. Furthermore, in September 2015, Dupont received EPA approval for the oxathiapiproline, a fungicide used in fruits and vegetable crops marketed under the trade name of Zorvec.
Regional Analysis: Fungicides Market
Geographically, fungicides market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America fungicides market expected to grow moderately over the forecast period, which is attributed to ban of fungicides by FDA (FDA banned carbendazim due to severe adverse effects such as sterility and cancer in human beings). Rise in R&D for innovation of newer fungicides, frequent product approvals from U.S EPA, and rise in demand for quality food products are anticipated to fuel the fungicides market in North America region. Europe fungicides market occupied significant share in global market due to development in the farming techniques, increase in the focus on quality products with better yield, and high adoption of newer products in the region. Asia Pacific fungicides market exhibiting significant growth due to increase in production and supplying of fungicides from Asia Pacific region majorly from China, increase in demand for food products and decrease in arable land due to increased population, and high dependence on agriculture farming.
ALSO READ :http://www.marketwatch.com/story/global-bio-alcohols-2020-industry-trends-sales-supply-demand-analysis-forecast-to-2026-2021-01-19
