NEW YORK, Jan. 9, 2017 /PRNewswire/ -- "Global fungicides market projected to grow at a CAGR of 4.78%"
The global fungicides market is projected to reach a value of USD 19.17 billion by 2022, growing at a CAGR of 4.78% from 2016. The market is driven by factors such as growth in the crop production, ease of application, increase in need for food security for the increasing population, and rise in preference for fungicides. The change in farming practices (from traditional to conventional), clubbed with advanced technologies and promotion by the governments of many countries across the world also drives the demand for fungicides in the agricultural sector. However, factors such as lack of education and awareness among the farmers and rise in instances of environmental toxicology, are restraining the growth of the fungicides market.
"Triazoles segment accounted for the largest market share in 2015 among the types of fungicides"
On the basis of type, fungicides have been segmented into benzimidazoles, dithiocarbamates, phenylamides, chloronitriles, strobilurins, and triazoles. Among these, triazoles accounted for the largest market share in 2015, followed by strobilurins and chloronitriles, respectively. Triazole fungicides have gained a renewed interest, particularly in the U.S. under the threat of Asian soybean rust, a fungal pathogen introduced via South America.
"Foliar spray segment led the market with the largest share in 2015"
On the basis of mode of application, the fungicides market has been segmented into foliar spray, seed treatment, soil treatment, and post-harvest. The market was led by foliar spray followed by soil treatment. Foliar is largely used by farmers because of its high efficiency and ease of use.
"Europe dominated the market with the largest share"
Europe formed the largest market for fungicides in 2015, whereas Asia-Pacific accounted for the second-largest market share in 2015. The global fungicides market is segmented region-wise, with a detailed analysis of each region by studying the key markets. These regions include North America, Europe, Asia-Pacific, Latin America, and the Rest of the World (RoW).
Breakdown of profile of primary participants is as follows:
- By Company Type: Tier 1 – 30 %, Tier 2 – 45%, and Tier 3 – 25%
- By Designation: Directors – 22%, C level – 28%, and Manager level – 50%
- By Region: North America – 35%, Europe – 23%, Asia-Pacific – 32%, and RoW – 10%
The fungicides market is dominated by BASF SE (Germany), Dow AgroSciences LLC (U.S.), Sumitomo Chemical Co., Ltd (Japan), and Bayer CropScience AG (Germany). Other players include Syngenta AG (Switzerland) Nippon Soda Co. Ltd. (Japan) and Nufarm Ltd. (Australia).
- This study estimates the global market of fungicides, in terms of dollar value, till 2022, segmented on the basis of type, crop type, form, and mode of application
- It offers a detailed qualitative and quantitative analysis of this market with reference to the competitive landscape, and the preferred development strategies such as agreements, expansions, mergers, and acquisitions to gain a larger share in the market
- It provides a comprehensive review of major market drivers, restraints, opportunities, challenges, winning imperatives, and key issues of the market
- It covers various important aspects of the market. These include analysis of the value chain, competitive landscape, market dynamics, market estimates in terms of value, and future trends in the fungicides market
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the fungicides market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on fungicides offered by the top players in the global fungicides market
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the fungicides market
- Market Development: Comprehensive information about lucrative emerging markets—the report analyzes the markets for fungicides across various regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global fungicides market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global fungicides market
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