Dicamba Market: Europe to Remain Market likely to expand at a CAGR of 15.4% In Between 2016-2020
"The Report Dicamba
Market: Europe to Remain Market Leader Through 2020: Global Industry
Analysis and Opportunity Assessment, 2016-2020 provides information
on pricing, market analysis, shares, forecast, and company profiles
for key industry participants. - MarketResearchReports.biz"
About
Dicamba
Market
Dicamba
is widely used as an herbicide that regulates broadleaf weed in
various domestic, commercial, and non-commercial applications,
including farmland maintenance. Widespread availability of dicamba
and easy usage primarily support the market for decamba across
developed regions. Increasing awareness about efficient crop
protection will provide an impetus to the dicamba market in
developing countries.
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The
global dicamba market is anticipated to exhibit robust growth over
the next few years. During a four-year forecast period 2016-2020, the
market is likely to expand at a CAGR of 15.4%, attaining a value of
over US$ 457 Mn by 2020 end.
Swelling
Awareness about Crop Protection Remains Primary to Drive Demand
Increasing
need for food security and safety, coupled with growing awareness
about crop protection will benefit the market for dicamba globally.
With burgeoning population across the world, the demand for food is
constantly on the rise and the need for minimal food wastage is
repeatedly highlighted. As dicamba supports maximum crop yield with
minimised crop loss, this will continue to be the key driver to
dicamba herbicide market. In addition, attributed to higher tax
rebates, exports from China are consistently increasing, which will
continue to favour the market growth in near future.
Growing
Adoption to Replace or Complement Glyphosate Continues to Drive
Market
Dicamba
herbicide is rapidly replacing glyphosate. In some regions,
agricultural practices involve the usage of dicamba and glyphosate in
combination. This will remain a major factor bolstering the demand
for dicamba herbicide over the forecast period. Moreover, rapid
adoption of IMP (integrated pest management) will spur the demand for
dicamba-based herbicides during the forecast period.
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EPA
Approval for Non-volatile Dicamba Will Spur the Demand and
Application
Recently,
in November 2016, the U.S. Environmental Protection Act (EPA)
approved over-the-top usage of Monsantos non-volatile dicamba-based
herbicide. This will certainly create a wide range of growth
opportunities for established as well as newly entering players in
the global dicamba market. Manufacturers can capitalise on an
opportunity to formulate several types and forms of dicamba to deal
with different types of crops and weeds. Emerging applications of
dicamba in the destruction of multiple weed types to address the
growth of a plethora of crops, will fuel the market over the forecast
period.
Challenges
May Persist despite EPAs Approval to Dicamba-based Herbicide
Volatility
of dicamba has been found to be the key cause for drift damage, which
may continue to be a key restraint to mass adoption of dicamba over
the next few years. Stringent regulatory approvals will also remain a
major factor hampering the growth of dicamba market over the forecast
period. Moreover, dicamba can reportedly cause a variety of illnesses
and allergic reactions in humans if injested, inhaled, or adsorbed.
This may remain a major limiting factor detaining the penetration of
dicamba herbicide in emerging economies.
Agriculture
Remains the Largest Application Segment with over 85% Market Share
Based
on application, the global dicamba market is categorised into three
key segments viz. agriculture, lawn and turf, and others, including
forests, gardens and plants, and other non-commercial applications.
Among the three, agriculture segment is anticipated to continue
dominance in terms of consumption, reaching a value of over US$ 391
Mn in 2020. This growth is primarily attributed to growing preference
for dicamba over conventional herbicides. Agriculture segment is
predicted to account for over 85% by 2020, expanding at a CAGR of
8.1%. Whereas, lawn and turf segment will also witness a promising
CAGR of 7.0% over 2016-2020.
North
America Outpaces Europe by 2020 due to Higher Market Penetration by
Leading Herbicide Manufacturers
The
global market for dicamba is regionally classified as North America,
Latin America, Europe, Asia Pacific, and Middle East and Africa.
Europe is anticipated to continue the leading market position
globally, reaching the revenues worth US$ 120.6 Mn by the end of the
forecast period. North America, owing to rising investments in
dicamba R&D and rapidly advancing agricultural practices, will
remain the second largest market. However, this region is expected to
witness a the highest CAGR of 8.5%, accounting for over 23% market
share by 2020 end, in terms of revenues. Europes Y-o-Y growth in 2017
over 2016 is estimated at 7.7%, whereas that of North America in 2017
over 2016 is projected to be of 9.2%.
Two
of the Market Leaders Sign the Dicamba Supply Agreement for North
America
Some
of the key players operating in the global dicamba market are BASF
SE, Monsanto Co., E I du Pont de Nemours & Company, Bayer AG, The
Dow Chemical Company, Syngenta AG, and Nufarm Limited. Two of the
leading U.S.-based companies manufacturing agrochemicals and
supplying seeds - Monsanto Co. and DuPont, recently announced a
supply agreement that will continue for the next few years,
especially for dicamba sales across the U.S. and Canada.
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Table
Of Content
1.
Dicamba Market- Executive Summary
2.
Research Methodology
3.
Assumptions and Acronyms Used
4.
Dicamba Market Overview
4.1.
Introduction
4.1.1.
Dicamba Market Taxonomy
4.2.
Dicamba Product Overview
4.2.1.
Dicamba Market Factor Analysis
4.3.
Market Dynamics
4.3.1.
Drivers
4.3.2.
Restraints
4.3.3.
Trends
4.4.
Value Chain
5.
Dicamba Market Analysis and Forecast By Application
5.1.
Introduction
5.1.1.
Basis Point Share (BPS) Analysis By Application
5.1.2.
Y-o-Y Growth Projections By Application
5.2.
Market Size and Volume Forecast, By Application
5.2.1.
Agriculture
5.2.2.
Lawn & Turf
5.2.3.
Others ( Forests, gardens & plants, other non-commercial
applications)
5.3.
Market Attractiveness Analysis By Application
6.
Dicamba Market Analysis and Forecast By Region
6.1.
Introduction
6.1.1.
Basis Point Share (BPS) Analysis By Region
6.1.2.
Y-o-Y Growth Projections By Region
6.2.
Market Attractiveness Analysis By Region
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