NEW YORK, Feb. 16, 2017 /PRNewswire/ -- "Global dicamba herbicide market projected to grow at a CAGR of 7.3%"
The global dicamba herbicide market is projected to reach a value of USD 521.2 million by 2022, growing at a CAGR of 7.3% from 2016 to 2022. The market is driven by factors such as rising crop loss due to weed problems, growing need for food security for the increasing population, and herbicide resistance in weeds. The changing farming practices from traditional to conventional clubbed with advanced technologies and promotion of Integrated Pest Management (IPM) by the governments of many countries across the world drives the demand for dicamba herbicides in the agriculture sector. The main barriers in dicamba herbicide market include the drift tendency of dicamba herbicide, rise in weed herbicides resistance, pesticides residue on food crops & increasing awareness about organic food.
"Cereals and grains accounted for the largest market share in 2015 among the crop types of dicamba herbicides"
On the basis of crop type, the dicamba herbicide market is segmented into cereals & grains, oilseeds & pulses, pastures & forage crops, and others which include sugarcane, tea, coffee, fruits, and vegetables. The cereals and grains segment dominated the dicamba herbicide market owing to their large production worldwide. The oilseeds and pulses is projected to grow at the highest CAGR during the forecast period.
"Salt based dicamba herbicides led the market with the largest share in 2015"
Dicamba is classified as either a benzoic acid or chlorophenoxy herbicide. Formulations include acid-based and salt-based dicamba herbicides. The salt-based dicamba herbicide segment dominated the market with largest share in 2015 and the trend is expected to continue. Dimethylamine salt and sodium salt are the most commonly salts used as active ingredients in herbicides.
"North America is projected to grow at highest CAGR"
North America is projected to grow at highest CAGR for 2016–2022. The advancement in the agricultural practices and technology technologies such as GMO crops and herbicide resistance crops and their wider acceptance in the North American region has fueled the demand for dicamba herbicides.
- By Company Type: Tier 1 – 46%, Tier 2 – 26%, and Tier 3 – 28%
- By Designation: C level – 57%, Manager level – 24% and Others – 19%
- By Region: North America – 25%, Europe – 18%, Asia-Pacific – 36%, and RoW – 21%
Key players identified in the dicamba herbicide market include BASF SE (Germany), The Dow Chemical Company (U.S.), E.I. du Pont de Nemours and Company (U.S.), and Syngenta AG (Switzerland). Along with these companies, the other players that have a strong presence in the dicamba herbicide market include Bayer CropScience AG (Germany), Monsanto company (U.S.), and Nufarm Limited (Australia),
This market study covers various segments of the dicamba herbicide market (crop type, time of application, formulation, form, and region) for arriving at the size of the market in the period between 2016 and 2022. The report is segmented into four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
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 dicamba herbicide market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on dicamba herbicides offered by the top players in the global dicamba herbicide market.
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the dicamba herbicide market.
- Market Development: Comprehensive information about lucrative emerging markets—the report analyzes the markets for dicamba herbicides across regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global dicamba herbicide market.
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global dicamba herbicide market.
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