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The Surge In Chemical Fungicides Market Fueled By Escalating Crop Diseases: Strengthening the Growth Trajectory of the Chemical Fungicides Market
Chemical Fungicides Market
What Is the Expected CAGR for the Chemical Fungicides Market Through 2025?
In the past few years, the market size of chemical fungicides has seen significant growth. Estimated to expand from $24.14 billion in 2024 to $25.79 billion in 2025, the market is expected to have a compound annual growth rate (CAGR) of 6.9%. The factors behind the robust growth during the historic period include crop yield improvement, disease resistance management, agricultural expansion, progress in chemical formulations, public health concerns, and the globalization of agriculture.
What's the Projected Size of the Global Chemical Fungicides Market by 2029?
In the coming years, the market size of chemical fungicides is projected to experience significant expansion. It is anticipated to reach a value of $33.65 billion in 2029, with a compound annual growth rate (CAGR) of 6.9%. The expected growth during the estimated period can be associated with market globalization and shifting trade dynamics, the move towards integrated pest management (IMP), effects of climate change on diseases, the growth of precision agriculture, regulatory reform, and a concentrate on sustainability. The forecast period is set to witness trends such as adoption of biological fungicides, precision application technologies, concerns related to residue management, integrated disease control, and creation of resistance management strategies.
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Top Growth Drivers in the Chemical Fungicides Industry: What's Accelerating the Market?
The growing prevalence of crop illnesses is projected to stimulate the expansion of the chemical fungicide market. Crop illnesses include diseases caused by various pathogens like fungi, bacteria, mycoplasma, virus, viroid, nematode, or parasitic flowering plants. Chemical fungicides are designed to annihilate or inhibit the growth of fungi and their sporulation and are effective against many destructive plant fungi such as rust and mildew. Therefore, the growing prevalence of crop diseases escalates the demand for the chemical fungicide market. For instance, the Crop Protection Network (CPN), a research organization based in the US, reported in 2023 that the extent of maize disease in Zambia had doubled, surging from 500 hectares in 2022 to nearly 1,000 hectares. Also, in Ethiopia, a study reported a 35.3% surge in the incidence of disease affecting coffee crops, causing a significant influence on the country's exports and income streams, thereby underlining the critical need for efficient crop protection strategies. Hence, the increasing prevalence of crop diseases is driving the chemical fungicide market.
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What Trends Will Shape the Chemical Fungicides Market Through 2029 and Beyond?
The chemical fungicide market is seeing a notable trend towards technological advancement. Major players in the market are investing in product innovation to solidify their market position. An example of this is the Switzerland-based agrichemical company, Syngenta's introduction of TYMIRIUM technology in August 2022, which has been officially approved by Argentina. This technology offers wide-ranging protection against nematodes and significant fungal diseases. Additionally, it allows farmers to enhance food quality and increase crop yields by safeguarding soil biodiversity and fostering soil health.
What Are the Main Segments in the Chemical Fungicides Market?
The chemical fungicides market covered in this report is segmented -
1) By Product Type: Bio Based Fungicide, Synthetic Fungicide
2) By Form: Liquid, Dry
3) By Active Ingredients: Dithiocarbamates, Benzimidazoles, Chloronitriles, Triazoles, Phenylamides, Strobilurins, Other Active Ingredients
4) By Action: Contact, Systemic
5) By Application: Seed Treatment, Soil Treatment, Foliar Spray, Chemigation, Post-Harvest
Subsegments:
1) By Bio-Based Fungicide: Microbial Fungicides, Plant Extract Fungicides, Bio-Control Agents
2) By Synthetic Fungicide: Azoles, Strobilurins, Chloronitriles, Dicarboximides
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Which Top Companies are Driving Growth in the Chemical Fungicides Market?
Major companies operating in the chemical fungicides market include BASF SE, Bayer AG, Corteva Inc, Syngenta AG, FMC Corporation, UPL Ltd., Sumitomo Chemical Co. Ltd., Nippon Soda Co. Ltd., Isagro S.p.A, Nufarm, ADAMA, Nissan Chemical Corporation, Marrone Bio Innovations Inc., Koppert Biological Systems, Bioworks Inc., STK Bio-ag Technologies, Verdesian Life Sciences, Seipasa S A, Ishihara Sangyo Kaisha Ltd., Nutrichem Co. Ltd., Certis LLC, Valent BioSciences LLC, Stockton Group, Lallemand Plant Care, Albaugh LLC, Rotam CropSciences Ltd., Sipcam Agro USA Inc., Kumiai Chemical Industry Co. Ltd., Arysta LifeScience Corporation, Heranba Industries Ltd.
Which Regions Will Dominate the Chemical Fungicides Market Through 2029?
Asia-Pacific was the largest region in the chemical fungicides market in 2024. The regions covered in the chemical fungicides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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