Global Dicamba Herbicides Market: Overview
Dicamba, a type of benzoic acid herbicide, is highly soluble in water. It is an important weed management herbicide, which has been in usage since 40 years. Dicamba herbicides are used to minimize crop loss and maximize crop yield in order to meet the rapid growth in demand for food. Hence, dicamba herbicide offers lucrative opportunities to players manufacturing agricultural herbicide products. Increase in herbicide resistant weeds and introduction of dicamba-resistant soybean (Xtend) is expected to boost the usage of dicamba in corn and soybean crops. Dicamba was first invented in 1950s and registered for usage in 1962. It is sold under the names “Xtendimax” by Monsanto, “Engenia” manufactured and sold by BASF, and Fexapan manufactured and sold by Dow DuPont.
Global Dicamba Herbicides Market: Key Segments
Rise in demand for food, increase in crop loss due to different types of weeds in farms, and changes in farming practices (from traditional to conventional) are factors driving the dicamba herbicides market. The global dicamba herbicides market can be segmented based on form, application, and end-use crop. In terms of form, the dicamba herbicides market can be bifurcated into liquid and dry powder. Dicamba herbicides are not sold as pure liquid chemicals. They are formulated along with emulsifiers, solvents, and other additives to improve the storage life and performance. Liquid is expected to be the leading segment of the dicamba herbicides market during the forecast period. The segment is anticipated to expand at a significant pace during the forecast period. Based on application, the dicamba herbicides market can be divided into pre emergence and post emergence. The end-use crop segment can be segregated into cereals & grains, fruits & vegetables, oilseeds & pulses and others. The cereals & grains segment held major share of the market in 2017. Rise in demand for cereals and grains coupled with high crop loss in many countries due to hazardous herbs and weeds is boosting the demand for dicamba herbicides. Oilseeds & pulses is anticipated to be a rapidly growing segment during the forecast period.
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Global Dicamba Herbicides Market: Drivers & Restraints
The dicamba herbicides market is largely driven by significant usage of these in cereals & grain crops for weed management and increase in adoption of precision farming and protected agriculture. However, rise in environmental concerns and growth in complaints about the volatile nature of dicamba are negatively affecting the dicamba herbicides market. In 2018 for in plant growing seasons, Dicamba products will be classified as restricted use by EPA, which means they can only be applied by a certified applicator with special training. Furthermore, dicamba spraying need to be stopped when winds are less than 16 km/hour, restricting spraying to certain times of the day, and requiring farmers to keep records of dicamba use. These kinds of stringent restrictions to use dicamba hecricides are anticipated to hamper the dicamba herbicides market during the forecast period.
Global Dicamba Herbicides Market: Regional Outlook
Based on region, the global dicamba herbicides market can be classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America accounted for major share of the dicamba herbicides market in 2017 owing to the increase in demand for dicamba herbicides in several crops such as soya bean, cotton, and corn in the region. Europe is also a key region of the dicamba herbicides market. It is followed by Europe. The dicamba herbicides market in Asia Pacific is expanding at a rapid pace due to the adoption of better farming practices. The dicamba herbicides market in Latin America and Middle East & Africa is anticipated to expand at a substantial pace during the forecast period due to the high demand for dicamba herbicides in emerging economies such as Brazil, Mexico, and GCC countries in these regions.
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Global Dicamba Herbicides Market: Key Players
Key players operating in the global dicamba herbicides market include BASF SE, Dow DuPont, Mosanto Co., Bayer AG, Syngenta AG, and Nufarm Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
Companies in the Dicamba Herbicides market have increasingly shifted gears with wide application of digital technology across the continuum, from raw material sourcing to manufacturing to generation of final output, to warehousing to final distribution operations. Among the various affects, the market is witnessing new growth economics due to thinning of line between specialty and commodity businesses that are associated with the larger ecosystem. At the same time, new growth parameters are being vigorously being debated as industry stakeholders put greater emphasis on the circular economy processes.
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