Press release
Dithianon Market to observe high growth by 2024
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Based on disease, the dithianon market has been segmented into the following categories: scab, mildew, fruit rot, and others. Fruit rot accounts for a significant share in the global dithianon market due to rising prevalence of gloeosporium and penicillium expansum. The scab segment is expected to experience a high growth rate, led by the growth in bacteria such as venturia inaequalis and venturia pirina. Growing demand for apples and peers farming is predicted to boost the need for dithianon during the forecast period.
Geographically, the global market has been distributed over Asia Pacific, North America, Europe, Middle East & Africa, and Latin America. Asia Pacific was a major market for dithianon in 2015. The market for fungicides in this region is estimated to expand due to the ever-increasing requirement for agriculture and farming. Scab held a large share in the dithianon market in Asia Pacific in 2015. There has been a surge in diseases caused by plants’ increased exposure to different types of bacteria. Rising disposable incomes in North America and Europe are projected to propel the dithianon market in these regions, especially in the U.S. and U.K., apart from new product launches. The product is anticipated to garner high demand in Europe, Asia Pacific, and Australia due to the widespread fruits market in this region. Developing economies in Asia Pacific, namely China and India, are also projected to register a high growth rate in the dithianon market due to the rising incomes of consumers. Promotional measures taken by the government to push the agricultural sector are also likely to fuel the demand for dithianon in developing countries, besides research and development advancements and innovation in terms of new products.
Global demand for fungicides is anticipated to rise significantly in the near future, thereby offering high growth opportunities for the dithianon market. The rapid rise in demand from end-use applications, competitive manufacturing costs, and high economic growth rates are propelling the market in Asia Pacific. These factors are attracting companies to adopt the strategies of expansion and R&D in the region. Market players are focusing on Asia Pacific to gain larger market shares. The high agricultural growing in Asia Pacific region is expected to boost the demand for dithianon market for the forecast period. Producers of dithianon have been compelled to adopt acquisition strategies to meet the global needs. Several of them are shifting their plants to countries such as China and India due to the high demand and low raw material & labor costs there. This trends are expected to continue in the near future propelling high demand for dithianon market.
Key players operating in the global dithianon market are AgChemAccess Limited, SIMAGCHEM, Haihang Industry Co., Ltd., Parchem fine & specialty chemicals, Krishi Rasayan Group, Sigma-Aldrich Co. LLC., and BASF ES.
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