Press release
Fungicides Market: What are the Short and long-term actions taken by Key Players During Coronavirus Pandemic?
The emergence of COVID-19 pandemic has brought the production processes of various industries to a standstill. Even though there are relaxations in the lockdown measures, certain norms, such as social distancing and reduction of workforce are mandatory to adopt. However, we will soon be able to get back to our normal lives by cooperating with the regulatory bodies. Our reports would aid in finding the best strategy that you can currently follow to gain a competitive edge in the market.
To get to know more about the short-term and long-term impacts of COVID-19 on the market, please visit: https://www.fortunebusinessinsights.com/enquiry/covid19-impact/fungicides-market-103267
Fortune Business Insights™ lists out the names of all the prominent manufacturers operating in the market. They are as follows:
BASF SE - Germany
Bayer AG. – Germany
Corteva Inc. – United States
Syngenta AG – Switzerland
FMC Corporation – United States
UPL Ltd. – India
ADAMA Ltd.– Isarel
Sumitomo Chemical Co., Ltd. – Japan
Nufarm Limited – Australia
Isagro SpA – Italy
This Report Answers the Following Questions:
Which segment is expected to lead the market?
What are the challenges and opportunities in the market?
How will the companies generate more sales of fungicides in the near future?
What are the significant strategies adopted by key players?
What are the growth drivers, hindrances, and market dynamics?
Drivers & Restraints-
High Demand for Fungicides Equipped with Novel Active Ingredients to Boost Growth
The areas under the cultivation of fruits & vegetables is surging rapidly backed by the changes in the food structure worldwide. The persistent changes in cropping patterns are also propelling the demand for fungicides equipped with novel active ingredients. Syngenta, for instance, unveiled its latest fungicides consisting of pydiflumetofen. It is called MIRAVIS Duo. Several manufacturers are nowadays aiming to develop new products to cater to the needs of the masses.
Gain More Insights into the Fungicides Market Research Report:
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However, the present situation of COVID-19 is impacting many countries severely. It is anticipated to affect the price dynamics and availability of all crop protection chemicals. It has also created disruptions in the supply chain. This factor may hamper the fungicides market growth in the near future.
Segment-
Chemicals Segment to Dominate Backed by Their Ability to Show Immediate Effects
In terms of type, the market is bifurcated into biological and chemical. Out of these, the chemical segment procured 88.42% fungicides market share in 2019 and is expected to dominate in the coming years. This growth is attributable to the ability of chemicals to prevent the growth of fungi and kill their spores. Chemical infused fungicides also exhibit immediate effect in controlling damages. They are capable of covering several hectares of land. Some of the most preferred chemicals are chloronitriles, strobilurins, inorganic, triazoles, and dithiocarbamates.
Regional Analysis-
Asia Pacific to Remain at the Forefront Owing to Growing Agriculture Industry
Based on geography, Asia Pacific generated USD 5.25 billion revenue in 2019 and is set to remain in the leading position throughout the forthcoming years. This is likely to occur because of the increasing post-harvest losses, rising rice cultivation, and the expansion of the agriculture industry in this region. Australia, India, and China are the major contributors to the growth of this market in this region. China is considered to be the leading consumer of fungicide, worldwide. Europe, on the other hand, is set to grow considerably stoked by the presence of numerous industry giants, such as Bayer, BASF, and Syngenta in this region.
Competitive Landscape-
Key Players Focus on Launching New Products & Acquiring Other Companies to Surge Sales
The market houses more than 40,000 companies that are frequently engaging in research and development activities to unveil innovative fungicides. Some of them are also considering the mergers and acquisitions strategy to strengthen their position in the market. Below are two of the latest industry developments:
December 2019: FMC announced that its new Rayora fungicide received the Environmental Protection Age (EPA) registration. The new product would help in preventing and curing dollar spots.
February 2019: UPL completed the acquisition of Arysta LifeScience. The total deal was worth USD 4.2 billion. It would help the company to strengthen its position in the market of agricultural solutions.
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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
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