Acaricides Market Key Players - E. I. du Pont de Nemours and Company, Chemtura USA Corp., FMC Corporation, Arysta LifeScience Corporation and Bayer Aktiengesellschaft

Market Scenario:

Acaricides are popular pesticide among the farmers which primarily use chemical compounds such as organophosphorus compounds, methyl carbamates, macrocyclic lactones, and phenylpyrazoles. They are used to control arachnid attack on crops which include ticks and mites. Acaricides are widely used in the agricultural segment for the crop protection. Chemical acaricides are the most common among crop cultivators. However, owing to high toxic content, their use may also harm nearby beneficial insects which is a major concern.

Factors such as increased crop production along with food security and crop-damage caused by arachnids have surged the demand for acaricides at the global level. The acaricides market is expected to be driven by various factors such as climate change which has increased the insect lifecycle and is also considered to be one of the significant factors for the rising growth of the acaricides market both in developed and developing economies. Moreover, increasing demand for horticulture in developed countries of Europe and North America is boosting the demand for acaricides.

Furthermore, rising demand for natural acaricides for crop-protection from arachnids is projected to drive the growth of acaricides market over the review period. However, several environmental and health hazards caused due to acaricides is restraining the growth of the market. Additionally, the enhancement of the product coupled with technological advancements is considered to be one of the significant reasons for the increasing growth of the acaricides market during the forecast period 2017-2023.

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Key Players:

Some of the key players profiled in the global acaricides market: E. I. du Pont de Nemours and Company (U.S.), Chemtura USA Corp. (U.S.), FMC Corporation (U.S.), Arysta LifeScience Corporation (Japan), Bayer Aktiengesellschaft (Germany), BASF SE (Germany), Nissan Chemical Industries, Ltd. (Japan), Syngenta AG (Switzerland), The Dow Chemical Company (U.S.), and Merck & Co., Inc. (U.S.)

Key Findings:

The Asia Pacific region is dominating the global acaricides market

Acaricides have a massive opportunity in the pesticide industry

Segments:

The global acaricides market is segmented into type and application:

On the basis of the type, it is segmented into organochlorine, organophosphorus, natural, and others. Among all, the organophosphorus acaricides segment is dominating the market followed by organochlorine. Organophosphorus acaricides are rich in phosphorous content and are also highly effective against arachnids.

On the basis of the application, it is segmented into agriculture, animal husbandry, and others. Among all, the agriculture segment is dominating the market. Growing demand for fruits, vegetables, cereals, and other agricultural products among the rising population is expected to surge the growth of this segment over the review period.

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Regional Analysis:
The global acaricides market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). The Asia Pacific region is expected to retain its dominance over the forecast period of 2017-2023. The growth of the Asia Pacific region is attributed to various factors. India, China, and Japan are witnessed to be the major contributors in this region. Higher arable land coupled with the tropical climate in Asia Pacific countries is considered to be one of the significant factors for the rising growth of acaricides market in the Asia Pacific region.

Europe & North America region is estimated to witness a moderate growth due to the market saturation in this particular region. However, the Middle East & African region is estimated to be slothful during the forecast period due to the lack of awareness among the farmers. Additionally, approval for the use of acaricides on agricultural crops by the regulatory authorities associated with crop protection and high yield is projected to uplift the growth of the acaricides market.

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This release was published on openPR.