Fenpropimorph Market Industry Analysis, Forthcoming Growth, Industry Prospects and Forecast to 2027
Research Nester released a report titled "Fenpropimorph Market: Global Demand Analysis & Opportunity Outlook 2027" which delivers detailed overview of the global fenpropimorph market in terms of market segmentation by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
Pesticides are a form of chemical compounds used to kill insects, weeds, fungi which are responsible for damaging the crops grown for human use. Based on their function, pesticides are classified into fungicides, insecticides, herbicides, rodenticides, bactericides and larvicides. Fenpropimorph is a type of systemic fungicide, which have the ability to be absorbed by the plant and spread. The market for fenpropimorph observed a CAGR of over 2% during the historical period, i.e., 2008-2012. Moreover, the global fenpropimorph market in 2012 exhibited a value of USD 178.2 million.
The global fenpropimorph market is segmented by regions into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa. The market in North America witnessed significant growth on account of presence of an industrialized society in the region. This led to the development of highly advanced agricultural practices and techniques in the past years. In the United States, around 2% of the population consists of farmers. The use of advanced tools and techniques by farmers resulted in larger agricultural production, especially in countries such as the U.S. and Canada.
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Rising Government Initiatives for Use of Agricultural Products Resulted in Market Growth
The various initiatives by governments of countries, mainly those in the Asia Pacific region, were a major growth driving factor for the market during the historical period. These initiatives taken for bringing the population above the poverty line involve a greater demand for agricultural products. The requirement for high yield of crops along with that for prevention of pathogenic attacks resulted in the growing demand for fertilizers and pesticides. These factors played a major role in the market growth over the past years. However, the high toxicity of pesticides for other living beings such as humans is a major growth restricting factor for the market as farmers prefer non-toxic substances as pesticides instead of harmful chemical components.
This report also provides the existing competitive scenario of some of the key players of the global fenpropimorph market which includes company profiling of BASF SE (ETR: BAS), Bayer AG (ETR: BAYN), Corteva, Inc. (NYSE: CTVA), Nufarm Limited (ASX: NUF), Syngenta AG, Arysta Lifescience, BioWorks Inc., Sumitomo Chemical (TYO: 4005), Adama Agricultural Solutions and DHM Agrochemicals Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global fenpropimorph market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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