Boston, MA -- (ReleaseWire) -- 07/02/2014 -- Fungicides Market by Type (Benzimidazoles, Dithiocarbamates, Phenylamides, Chloronitriles, Strobilurins, Triazoles,), by CROP Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), & by Geography - Global Trends & Forecasts to 2019
The fungicides market has grown exponentially in the last few years and this growth is expected to continue. Numerous factors such as high cost of seeds, ease of application, modern production practices, new product offerings, increased availability, and increasing threat of fungal infections are the major causes of the increasing demand for fungicides. Fungicides inhibit the growth of pathogens so that plant tissues that provide carbohydrates to the grains are protected from damage. They are applied to the seed, in the furrow or directly onto the leaves and stems, as foliar sprays.
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The best approach to protect these tissues is by applying fungicides to seeds or as soil treatments or sprays during stem elongation. This helps in reducing the growth and reproduction of the fungus. Fungicides are better at protecting diseases than eradicating them. Early treatment given to crops can reduce the amount of airborne pathogens spreading from one crop to another. The European Union as well as the FDA (U.S.) is keeping a strict vigil on chemicals used in fungicides. Due to these restrictions, extensive investigation and progress is undertaken by key players to develop more environment-friendly fungicides as well as utilize biological sources for manufacturing them.
Companies are entering into distribution agreements to gain access to unexplored markets in the Asia-Pacific, Latin American, and the Middle Eastern regions. Reputed companies such as Bayer CropScience (Germany), BASF (Germany), Syngenta (Switzerland), and DuPont (U.S.) are investing in greenfield ventures in emerging economies to reap the benefits of low-cost raw materials and resources.
FUNGICIDES MARKET CAGR (%), BY GEOGRAPHY, BY CROP TYPE, 2014-2019
Source: Expert Interviews and MarketsandMarkets Analysis
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