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Azoxystrobin Market Analysis and Forecast Study for 2014 - 2020

Azoxystrobin Market Analysis and Forecast Study for 2014 - 2020

Fungicides are biocidal chemical compounds which are primarily used to inhibit the growthof fungi. Fungicides are one of the major chemicals used in agriculture to counter the fungal infections. Fungicides can be majorly classified in three classes based on the mode of action as contact, systemic and translaminar fungicides. Azoxystrobin belongs to the class of systemic fungicides as it is taken up through the xylem vessels. Azoxystrobin is typically used in fruits and vegetables for preventing the fungal infection. The growth in agriculture industry across the globe is anticipated to drive the market for azoxystrobin in the next six years. The demand for azoxystrobin and in general fungicide is expected to remain moderate in developed regions owing to the several restrictions imposed on the fungicides. On the other hand, developing economies across Asia Pacific region such as India and China are expected to have rising demand for fungicides in the next few years.

Azoxystrobin belongs to the chemical family of Strobilurins. They are based on naturally occurring anti-fungal compounds. Azoxystrobin is one of the most recognized fungicides as it has a broad spectrum of anti-fungal properties against diseases including oomycota (infecting grapes), deuteromycota (infecting rice) and ascomycota (affecting numerous field crops and vegetables).

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Azoxystrobin is typically sold in the water formulation or as a suspension concentrate in numerous concentrations. Azoxystrobin in general applied as a foliar spray as azoxystrobin has an extensive residual effect. Azoxystrobin acts as a systemic fungicide and has a curative, translaminar and preventative mode of action. The effective mode of action of azoxystrobin makes it essential fungicide in field crops, grapes and banana. Moreover, the toxicity level of azoxystrobin being moderate for mammals, bees, insects, birds and earthworms as azoxystrobin is easily broken in sub-components once applied through soil. Azoxystrobin is widely used in farming, particularly in wheat farming as it provides strong protection to wheat crops against several types of diseases such as wheat septoria, septoria leaf spot, wheat leaf rust, rye leaf rust and powdery mildew. The wide range of fungicidal properties of azoxystrobin is expected to act as a major driver for azoxystrobin market in agriculture industry in the next six years. However, the aquatic toxicity of azoxystrobin is considerably high, posing a great threat to aquatic animals. This factor is anticipated to act as a potential restraint to azoxystrobin market in the next few years.

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The developing economies across Asia Pacific region are anticipated to be the fastest growing market for azoxystrobin in the next few years. The main reason for this is the rising demand for fungicides to control the growth of fungi and related problems associated with spread of infection through it. Moreover, the demand for azoxystrobin is expected to remain high in the countries such as China and India due to growing need for better yield for fulfilling the increasing food demand from the constantly escalating population. In addition to developing nations, developed economies are concentrating on attaining highest agriculture output from the available cultivable land. Presently, azoxystrobin is approved for use on a wide variety of crops in the UK, including barley, asparagus, broccoli, onions, carrots, cauliflowers, cabbages, potatoes, rye, triticale, vining peas and wheat. Additionally as azoxystrobin is effective against numerous classes of fungi, makes azoxystrobin an economical solution for treatment of various types of fungi. All these factors are creating a positive prospect for the global fungicide industry in general. This reason is expected to have a positive impact on azoxystrobin market thus, boosting the demand for azoxystrobin fungicide across the globe. Some of the major manufacturers of azoxystrobin fungicide are Syngenta and Cheminova, Inc. USA.

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