What is the Historic and Current Scenario of the Chemical Fungicides Market?
The chemical fungicides market has seen considerable growth due to a variety of factors.
• In the past few years, the market size for chemical fungicides has seen substantial growth. The prediction is for it to expand from $24.14 billion in 2024 to $25.79 billion in 2025, with a compound annual growth rate (CAGR) of 6.9%. Factors such as the improvement in crop yield, managing disease resistance, the growing scale of agriculture, evolution in chemical formulations, concerns over public health, and the globalization of agriculture have contributed to the growth during the historic period.
How Does the Forecast Look for the Chemical Fungicides Template Market?
The Chemical Fungicides market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for chemical fungicides is set to witness robust expansion in the upcoming years. The market is predicted to reach a valuation of $33.65 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.9%.
This forecasted upsurge can be linked to factors such as globalization and dynamic trade in the market, the shift towards integrated pest management (IMP), the effect of climate change on diseases, the advancement of precision agriculture, regulatory modifications, and the emphasis on sustainability. Noteworthy trends for the forecast period comprise the acceptance of biological fungicides, the deployment of precision application technologies, worries surrounding residue management, integrated disease containment, and the formation of resistance management tactics.
What Are The Leading Drivers Of Growth In The Chemical Fungicides Market?
The escalation in crop diseases is poised to fuel the expansion of the chemical fungicide market. Crop diseases, caused by various pathogenic entities like fungi, bacteria, mycoplasma, virus, viroid, nematode, and parasitic flowering plants, can be mitigated by chemical fungicides, which are effective against fungi and their spores - including crop-damaging fungi such as rust and mildew. As a result, an increase in crop diseases boosts the chemical fungicide market's demand. The Crop Protection Network (CPN), a US-based research organization, reported in 2023 that a disease affecting maize in Zambia has twice the spread, increasing from 500 hectares in 2022 to about 1,000 hectares. In addition, research based in Ethiopia observed a 35.3% hike in the incidence of disease affecting coffee crops, affecting the country's exports and income sources, thereby underscoring the urgent necessity for efficient crop protection plans. As a consequence, the chemical fungicide market is being driven by the escalating instances of crop diseases.
How Are The Segments Defined Within The Global Chemical Fungicides Market?
The chemical fungicides market covered in this report is segmented –
1) By Product Type: Bio Based Fungicide, Synthetic Fungicide
2) By Form: Liquid, Dry
3) By Active Ingredients: Dithiocarbamates, Benzimidazoles, Chloronitriles, Triazoles, Phenylamides, Strobilurins, Other Active Ingredients
4) By Action: Contact, Systemic
5) By Application: Seed Treatment, Soil Treatment, Foliar Spray, Chemigation, Post-Harvest
Subsegments:
1) By Bio-Based Fungicide: Microbial Fungicides, Plant Extract Fungicides, Bio-Control Agents
2) By Synthetic Fungicide: Azoles, Strobilurins, Chloronitriles, Dicarboximides
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How Are New Trends Expected To Influence The Growth Of The Chemical Fungicides Market?
Enhancements in technology are becoming a growing trend in the chemical fungicide industry. Prominent businesses in the chemical fungicide sector are focusing on product innovation to fortify their market position. In an example from August 2022, Syngenta, a Swiss agrichemical company specialising in chemical fungicides, launched TYMIRIUM technology, with approval from Argentina. This technology offers wide-ranging protection against nematodes and prevalent fungal diseases. In addition, it enables farmers to elevate food quality and crop yield by safeguarding soil biodiversity and endorsing soil health.
Who Are the Key Players In The Chemical Fungicides Market?
Major companies operating in the chemical fungicides market include:
• BASF SE
• Bayer AG
• Corteva Inc
• Syngenta AG
• FMC Corporation
• UPL Ltd.
• Sumitomo Chemical Co. Ltd.
• Nippon Soda Co. Ltd.
• Isagro S.p.A
• Nufarm
• ADAMA
• Nissan Chemical Corporation
• Marrone Bio Innovations Inc.
• Koppert Biological Systems
• Bioworks Inc.
• STK Bio-ag Technologies
• Verdesian Life Sciences
• Seipasa S A
• Ishihara Sangyo Kaisha Ltd.
• Nutrichem Co. Ltd.
• Certis LLC
• Valent BioSciences LLC
• Stockton Group
• Lallemand Plant Care
• Albaugh LLC
• Rotam CropSciences Ltd.
• Sipcam Agro USA Inc.
• Kumiai Chemical Industry Co. Ltd.
• Arysta LifeScience Corporation
• Heranba Industries Ltd.
What Is The Most Dominant Region In The Chemical Fungicides Market?
Asia-Pacific was the largest region in the chemical fungicides market in 2024. The regions covered in the chemical fungicides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
