Butachlor Market to Witness Comprehensive Growth by 2025
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Butachlor, however, is highly toxic and may prove to be a reason for several health and environmental hazards. The toxicity of butachlor can be reduced using ample quantity of water with it when it is applied, which is a key requirement in paddy fields. Nevertheless, it remains a concern for its users, as most of the countries in Asia Pacific face scarcity of water. Rise in awareness about the harmful effects of butachlor in Asia Pacific is anticipated to hamper the growth of market in the near future. Furthermore, stringent policies and rules for environmental protection are expected to restrain the growth of the butachlor market. Nonetheless, Asia Pacific and the agrarian countries in the region, such as India, Indonesia, and China contribute significantly to the butachlor market. High growth of population of these countries is responsible for propelling the demand of food grains, which in turn drives the growth of the butachlor market in the region.
Based on application, the butachlor market can be segmented into rice crop, wheat crop, barely, and others. The butachlor market at present is dominated by the rice crop segment, especially in Asia Pacific, and is anticipated to retain its position during the forecast period.
In terms of geography, the butachlor market can be divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Asia Pacific is projected to lead the butachlor market during the forecast period, due to high consumption of butachlor in the major agrarian countries such as China, India, Indonesia, Vietnam, etc. North America follows Asia Pacific in the consumption of butachlor. Furthermore, Brazil and some of the countries in South Africa are among the key contributors to the butachlor market. However, stringent government policies in North America and Europe regarding the use of butachlor is expected to restrain the growth of market during the forecast period.
Major players operating in the butachlor market are Shanghai Tenglong Agrochemical Co. Ltd., Monsanto, Shanghai Mingdou Agrochemical Co. Ltd., Syngenta AG, SinoHarvest Corporation, Dow AgroSciences, Bayer CropScience, Zhejiang Rayfull Chemicals, Nantong Jiangshan Agrochemical & Chemicals Co. Ltd., Qingfeng Agro-chemical, Binnong Technology, and Green Land.
The butachlor market is projected to offer lucrative opportunities, especially in Asia Pacific, due to the growth of population in the region, which gives rise to the demand for increased food production. However, the threats posed by the usage of butachlor to human health and environment remain a major concern.
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