Press release
Global Miticides Market- Industry Trends and Forecast to 2026 | Syngenta, Gowan Company, BASF SE, Bayer AG, Arysta LifeScience Corporation, FMC Corporation, UPL, Mantis Plant Protection LLC
Market Analysis: Global Miticides Market
The Global Miticides Market is expected to grow from an initial estimated value of USD 1.20 billion in 2018 to an estimated value of USD 1.81 billion by 2026, registering a CAGR of 5.3% in the forecast period of 2019-2026. This trend of growth is due to the rising demand of protection for crops from various insects that are rapidly affecting the yield of crops.
Market Definition: Global Miticides Market
Mites are one of the most dangerous insects that target and destroy crops. They are very difficult to control and rapidly multiply during high temperatures, and due to their tiny structure, they are very hard to detect and are mostly identified when irreversible damage has already been done to the crops. Miticide is a type of chemical component that controls and terminates the mites. The main characteristic of miticide is to keep the mites off of the crops.
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Market Drivers:
oIncreasing awareness and constant innovations in the miticides market will act as a driver for the market
oIncreased demand for high yield from crops have raised the demand for their protection, thus increasing the demand for miticides to protect from mites and other insects
Market Restraints:
oStringent regulations regarding the chemicals used is one of the main restraint of the market
oHealth threatening characteristics of miticides for humans, and animals is also one of the major restraint of market
Competitive Analysis: Global Miticides Market
The global miticides market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Miticides market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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Key Market Competitors: Global Miticides Market
Few of the major competitors currently working in the miticides market are Syngenta, Gowan Company, BASF SE, Bayer AG, Arysta LifeScience Corporation, FMC Corporation, UPL, Mantis Plant Protection LLC, and DowDuPont.
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