Global Fungicides Market – Growth, Trends And Forecasts (2015 – 2020)
Pesticides constitute the largest category within the market for crop protection chemicals, with Biopesticides accounting for a comparatively minute share. Global market of synthetic fungicides are projected to reach USD 19036.77 million by 2020 from USD XX million in 2015, growing at CAGR of 5.57% during 2015-2020. Fungicide utilization has grown substantially in a variety of crops, with corn being a primary consumer. This has been necessitated due to a variety of factors, such as increase in the market price of corn, growth in foliar diseases and availability of new fungicides for use on field crops, to name a few. Factors driving the markets for fungicides include decreasing arable land, increasing population and the requirement of improving crop yields. On the other hand, regulatory authorities such as EPA (Environment Protection Agency) frequently come up with stringent laws related to curbing pesticide use for alleviating environmental damage and increasing consumer awareness about pesticide consumption, which is expected to be instrumental in slowing down growth in demand for fungicides. The report also analyzes the global market for fungicides by application area, including Crop-Based Applications (Grains & Cereals, Oilseeds and Fruits & Vegetables) and Non-Crop-Based Applications (Turf & Ornamental Grass and Other Applications). By application area, crop-based end-uses of insecticides are likely to maintain the fastest growth in terms of volume consumed and value demand during the similar period, and retain the leading raking in terms of largest application area. The use of Fungicides in terms of volume witnessed sharp increases in cereal crops for major regions due to extended winter months, with Asia-Pacific leading the way in terms of fastest growth.The protracted winter season in North America has also played its part in boosting sales of Fungicides in the region. Though North America would remain the largest market for Synthetic Fungicides, with a projected global share of 34.4%, Asia-Pacificï¿½s demand is expected to surpass other regions by posting a 2015-2020 CAGR of 7.3%. Major companies covered in the report include American Vanguard, Arysta LifeScience, BASF SE, Bayer CropScience, BioWorks, Cheminova, Chemtura Corp, Chr Hansen, Dow AgroSciences, DuPont, FMC Corp, Isagro SpA, Ishihara Sangyo Kaisha, Makhteshim Agan, Marrone Bio Innovations, Monsanto, Natural Industries, Novozymes A/S, Nufarm Ltd, Sumitomo Chemical, Syngenta AG and Valent Biosciences. The key strategies used by companies in this market are new product registrations, acquisitions to enter new markets. The focus in this industry should be on integrated pest management techniques and sustainable practices for an improved yield without harming the environment.