Bifenazate Market Evolving Industry Trends 2020.
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Bifenazate is manufactured industrially using raw materials, namely 4- phenylphenol, diisopropyl azodicarboxylate, and dimethyl sulphate. On account of its reduced toxicity, bifenazate finds widespread application as miticides. It does not much contaminate the soil or water and is neither carried away nor accumulated. Because of such unique perceived benefits, Bifenazate forms a part Integrated Pest Mangement (IPM) program. The global demand for bifenazate market is estimated to show a slow transformation in Asia Pacific and Latin America regions by the end of the forecasted period.
Global Bifenazate Market: Drivers and Restraints
Pressing demand for food worldwide has led to indiscriminate use of pesticides worldwide. Most of the pesticides used contain toxic or poisonous substances and their extensive use not just pollutes the soil and water but also makes the food unhealthy to consume. Repeated and too much use of such pesticides damages non-targeted areas for they usually spread over to the entire area under cultivation. Further, pesticides also get accumulated as residuals in running ground waters, thus bringing down soil fertility. Such negative impacts have made several authorities across the globe ban pesticides or limit their usage.
On account of containing negligible amounts of toxic elements, bifenazate steals a march over such toxic or poisonous pesticides. It poses minimal risk to health of humans, aquatic animals, birds, and non-targeted areas in agricultural areas. Bifenazate exhibits faster degradation in soil along with swift elimination of mites. Yet another advantage of bifenazate is that it has long residual control hence does not get accumulated too much in surface waters, unlike other pesticides. This reduces the negative impact and makes bifenazate a compatible and safe acracide. On account such unique perceived benefits the global market for bifenazate has seen an uptick.
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Additionally, bifenazate floramite helps in eliminating different types of mites and can be used to treat ornamental crops and tomatoes cultured in nurseries, greenhouses, and shadehouses. Bifenazate acramite, again, is suitable for both fruit bearing and non-fruit bearing plants such as grapes, edible gourd, strawberries, dates and figs. Both, acramite and floramite are perfect for IPM program and resistance management strategy.
Global Bifenazate Market: Geographical Segmentation
Geographically, the key segments of the market are Asia Pacific, Europe, North America, and the Rest of the World. Asia Pacific and Latin America in the Rest of the World are attractive markets that are emerging on the global radar on account of the substantial amount of demand they are generating. This is because of a shift in pesticide consumption patterns leading to better crop yields in the countries of China, India, and Brazil, in the recent past due to a rising crop of discerning consumers and thrust on cost-effective agricultural practices.
However, most of these countries import significant amounts of agricultural products from North America and Europe exporting markets and hence their markets are expanding at a not-so-fast pace.
Global Bifenazate Market: Competitive Landscape
To assess the competition prevailing in the global bifenazate market, the report profiles prominent players such as the Dow Chemical Company, Chemtura Corporation, Certis USA L.L.C., Olympic Horticultural Products, Inc., and BASF Corporation.
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