Market Forecast
Acaricides help in improving agricultural productivity by restricting the growth of arachnids such as ticks and mites. Additionally, increased demand for acaricides for adequate disease control support and increased crop productivity has uplifted the global Acaricides Market Value. Moreover, high acceptance of modern farming techniques among the crop cultivators is adding fuel to the growth of Acaricides Market Value. Additionally, rising demand for agricultural products such as fruits, vegetables, cereals, and pulses is projected to drive the growth of the global Acaricides Market Value over the forecast period.
Key manufacturers are emphasizing on the new product development in order to enhance the customer base. Apart from that, the key players are promoting their products through advertisements in television and social media, which, in turn, escalates the acaricides demand. The global Acaricides Market Value is expected to grow at a CAGR of 5.4% during the forecast period 2021-2027.
Market Overview
Acaricides are a class of pesticides, which are used in the agricultural sector to restrict the attack of arachnid on the agricultural produce. Apart from the agriculture, acaricides are increasingly used in the animal husbandry. Growing demand for food grains coupled with the shrinking farmland is expected to drive the demand for acaricides. Most commonly used acaricides include organochlorine, organophosphorus, natural acaricides, and others.
Downstream analysis
The global Acaricides Market Value 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. Ease of availability and economical price of the product is driving the growth of this segment.
On the basis of the application, it is segmented into agriculture, animal husbandry, and others. Among all, the agriculture segment is dominating the market. Increase in the demand for agricultural products is driving the growth of this segment during the forecast period.
The major players in the Acaricides Market Value
- 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.)
- Merck Co., Inc. (U.S.)
Regional Analysis
The global Acaricides Market Value is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). The Asia Pacific region is leading the global Acaricides Market Value followed by Europe. India and China are the major contributors to the growth of Acaricides Market Value in this region. Furthermore, high demand for agricultural products from the farmers is considered to be the key driving factor in the Asia Pacific market. Additionally, regulatory approval for the use of acaricides on agricultural products for crop protection is projected to raise the growth of the Acaricides Market Value.
However, the European region is expected to witness a significant growth during the forecast period. European countries like Germany, France, and the U.K, is projected to boost the growth of the Acaricides Market Value during the review period. However, stringent environmental regulations in the developed economies of North America and Europe region are expected to restrain the market growth in these regions.
Market Segmentation
Acaricides Market Value is segmented on the basis of type, and application.
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