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Triazole Fungicides Market to Significant Growth Foreseen by 2020

Triazole Fungicides Market to Significant Growth Foreseen

The growth of the crop can be affected by fungal infection. Fungicides are chemical compound used to kill fungi or fungal spores. Triazole is most widely used fungicides due to their different uses and efficacy against a number of fungal diseases. Triazole is highly effective against many different fungal diseases include rusts, leaf-spotting fungi and powdery mildews. Triazole is used on field crops, fruit trees and vegetables. Repeated use of triazole can be avoided, especially under high disease pressure or against rapid cycling diseases such as rust to avoid fungicide resistance. Ever-increasing population, changing consumer preferences for food, results in the high production of food. These factors motivate farmers to utilize optimum-quality fungicides for crop protection in order to ensure higher yields. Triazole prevents and cures diseases that can have ill effects on crop yield and quality. The triazole fungicides market can be segmented on the basis of crop type: cereals and grains, fruits and vegetables and others.

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North America and Europe are the largest market for triazole fungicides. North American and European market have witnessed a slow growth rate due to various restrictions imposed on use of fungicides and a shift of farmers towards organic farming. Asia Pacific is expected to be the fastest growing market for triazole fungicides. China and India hold the key for future market trends in triazole fungicides market due to changes in farming practices, rapid growth in agriculture sector and increasing acceptance of modern farming and protected agriculture in these regions.

Some of the major drivers contributing the overall market growth of triazole fungicides include limited availability of cultivable land, change in farming practices and technology, increasing acceptance of modern farming and protected agriculture and growing horticulture & floriculture Industries. Growing concern towards environment and genetically modified crops are some of the major restraints for triazole fungicides market.

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Some of the major companies operating in the triazole fungicides market include BASF, Chemtura Corporation, E.I. Dupont De Nemours & Company, Cheminova As, Bayer Cropscience AG, Nippon Soda Co. Ltd, Syngenta AG and Dow Chemical Company.

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