Chemical Fungicides Industry to Achieve $32.69 Billion Growth by 2029

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How Will the Chemical Fungicides Market Grow by 2025 in Terms of Size and Growth?
The market size of chemical fungicides has seen significant expansion in the previous years. It is projected to rise from $24.14 billion in 2024 to $25.45 billion in 2025, with a compound annual growth rate (CAGR) of 5.4%. Factors such as improvement in crop production, management of disease resistance, agricultural expansion, progress in chemical formulation, public health worries, and the globalization of agriculture contributed to this growth during the historic period.

What Are the Estimated Growth Rates for the Chemical Fungicides Industry Through 2029?
Prospects for the chemical fungicides market are looking positive, with significant expansion anticipated in the coming years. The market is projected to reach a value of $32.69 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 6.5%. Factors contributing to this predicted growth include market globalization and evolving trade dynamics, a shift towards integrated pest management (IMP), the influence of climate change on diseases, advancements in precision agriculture, regulatory transformations, and a heightened emphasis on sustainability. The forecast period may also see the rise of several new trends such as the increased use of biological fungicides, the advent of precision application technologies, concerns around residue management, integrated disease control measures, and the evolution of resistance management strategies.

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What Are the Strategic Drivers Boosting Chemical Fungicides Market Performance?
The upward trend in crop diseases is predicted to spur the expansion of the chemical fungicide market. Diseases affecting crops are attributed to a range of pathogenic organisms such as fungi, bacteria, mycoplasma, viruses, viroids, nematodes, or parasite-bearing flowering plants. Chemical fungicides are utilized to eliminate or hinder the growth of fungi and their spores, effectively combatting damaging plant fungi like rust and mildew. Consequently, the increasing prevalence of crop diseases amplifies the need for chemical fungicides. For example, in 2023 as per the Crop Protection Network (CPN), a US-based research entity, the surge of a maize disease in Zambia has seen a twofold increase, jumping from 500 hectares in 2022 to almost 1,000 hectares. Additionally, a 35.3% increase in disease incidence impacting coffee crops was reported in Ethiopia, which significantly affects the country's export and revenue channels, underlining the critical necessity for efficient crop protection measures. Hence, the escalating instances of crop diseases are fueling the chemical fungicide market.

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What Are the 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

What Are the Key Adoption Trends in the Chemical Fungicides Market?
The rise in technological advancements has become a significant trend in the chemical fungicide industry. In an attempt to fortify their standing in the market, prominent companies are focusing on product innovation. For instance, in August 2022, Syngenta, a Swiss agrichemical company invested in chemical fungicides, introduced its TYMIRIUM technology with Argentina's official sanction. This groundbreaking technology offers a wide-range defense against nematodes and prevalent fungal infections, enabling farmers to enhance food quality and increase crop production, while simultaneously maintaining soil biodiversity and ameliorating soil health.

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Which Companies Lead the Competitive Landscape of the Chemical Fungicides Industry?
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.

Where Are the Key Chemical Fungicides Market Opportunities by Region?
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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This release was published on openPR.