The report “Dicamba Herbicide Market by Crop Type (Cereals & Grains, Oilseeds & Pulses, and Pastures & Forage Crops), Formulation (Acid and Salt), Physical Form (Dry and Liquid), Time of Application (Pre- and Post-Emergence) – Global Forecast to 2022″, is estimated to be valued at USD 321.5 Million in 2015 and projected to reach USD 521.2 Million by 2022, at a CAGR of 7.3% from 2016 to 2022.
Market Dynamics
Market Drivers
- Rising prices of agricultural commodities
- Increase in the use of herbicides and growth of dicamba-resistant GMO crops
- Advancement in farming practices and technology
Restraints
- Tendency of herbicide drift
- Growth of organic food industry
- Pesticide residue
- Increasing herbicide resistance of weeds
Opportunities
- Growth potential in emerging economies
Challenges
- Adverse effects of pesticides
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The cereals & grains segment is expected to be the fastest-growing market during the forecast period
The main types of crops for which dicamba herbicides are used are cereals & grains, oilseeds & pulses pastures & forage crops and others, which include sugarcane, tea, coffee, fruits, and vegetables. The oilseeds & pulses segment is projected to be the fastest-growing market from 2016 to 2022. The cereals & grains segment dominated the market with maximum shares. Rising demand for cereals & grains and high crop loss mainly due to hazardous herbs and weeds are triggering the market for dicamba herbicides.
Liquid formulation segment market to dominate the dicamba herbicide market in 2016
Herbicides are not sold as pure chemicals and are formulated with various solvents, emulsifiers, and other additives to improve the storage life, ease of application, and handling characteristics of the active ingredient. Liquid formulations are easy to measure, mix, and apply with hose-end sprayers or compressed air sprayers. Aerosol sprays or foams are also available for spot weeding. Hence, the liquid formulation segment is projected to dominate the dicamba herbicide market at the highest CAGR during the forecast period.
Changing farming practices and high investment in R&D key to success in the North American region
The North American region is one of the largest contributors to the global dicamba herbicide market due to the increase in usage of dicamba herbicides through advanced agricultural techniques and rising need for food security. The U.S. constituted the largest country-level markets in the North American region in 2015. High market penetration by the leading herbicide manufacturing companies and growing need of dicamba herbicides for heavy crop loss due to weed problems, as well as the advancement and technology in framing are the main factors influencing the growth of the dicamba herbicide market in North America.
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This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. It includes the profiles of leading companies such as Monsanto Company (U.S.), BASF SE (Germany), Bayer Crop Science (Germany) E.I. du Pont de Nemours and Company (U.S.), The Dow Chemicals Company (U.S.), and Syngenta AG (Switzerland)
