Overview and Scope
Chemical fungicides refer to the pesticides known as fungicides that work to eradicate or stop the development of fungi and their spores. They are effective against rust, mildew and other plant-damaging fungi.
Sizing and Forecast
The chemical fungicides market size has grown strongly in recent years. It will grow from $22.67 billion in 2023 to $24.3 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to crop yield enhancement, disease resistance management, expansion of agriculture, advancements in chemical formulations, public health concerns, globalization of agriculture..
The chemical fungicides market size is expected to see strong growth in the next few years. It will grow to $31.25 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to market globalization and trade dynamics, shift towards integrated pest management (ipm), climate change impact on diseases, expansion of precision agriculture, regulatory changes and sustainability focus.. Major trends in the forecast period include biological fungicides adoption, precision application technologies, residue management concerns, integrated disease management, development of resistance management strategies..
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Segmentation & Regional Insights
The chemical fungicides market covered in this report is segmented –
1) By Product Type: Bio Based Fungicide, Synthetic Fungicide
2) By Form: Liquid, Dry
3) By Active Ingredients: Dithiocarbamates, Benzimidazoles, Chloronitriles, Triazoles, Phenylamides, Strobilurins, Other Active Ingredients
4) By Action: Contact, Systemic
5) By Application: Seed Treatment, Soil Treatment, Foliar Spray, Chemigation, Post-Harvest
Top 5 Major Players:
- BASF SE,
- Bayer AG,
- Corteva Inc.,
- Syngenta AG,
- FMC Corporation,
Asia-Pacific was the largest region in the chemical fungicides market in 2023. The regions covered in the chemical fungicides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising occurrence of crop diseases is expected to propel the growth of the chemical fungicide market going forward. Crop diseases refer to diseases caused by various pathogenic organisms, such as fungi, bacteria, mycoplasma, virus, viroid, nematode, or parasitic flowering plants. Chemical fungicides work to eradicate or stop the development of fungi and their spores and are effective against rust, mildew and other plant-damaging fungi, as a result, the rising occurrence of crop diseases increases the demand for the chemical fungicides market. For instance, in May 2021, according to The Proceedings of the National Academy of Sciences (PNAS), a US-based official journal of the National Academy of Sciences, the increasing food crop pests and diseases caused significant production losses worldwide, with mean losses of potatoes of 17.2% (8.1 to 21%), soybeans of 21.4% (11 to 32.4%), rice of 30.3% (24.6 to 40.9%), maize of 22.6% (19.5 to 41.4%)and wheat of 21.5% (10.1 to 28.1%). Further, The United Nations aims to reduce these losses and strives to increase food production by 60% by 2050 to feed approximately 10 billion people, as a result, chemical fertilizers support food production to meet the estimated goals. Therefore, the rising occurrence of crop diseases drives the chemical fungicide market.
Key Industry Players
Major companies operating in the chemical fungicide market are innovating new products to sustain their position in the market. It involves the development and introduction of novel formulations or active ingredients to enhance effectiveness, safety, and sustainability in crop protection. For instance, in May 2022, BASF SE, a Germany-based chemicals company, launched Priaxor 225 EC. Priaxor 225 EC is a fungicide that is highly effective and consistent in controlling Coffee Berry Disease (CBD) and improving crop quality and yield. Priaxor 225 EC has a dual mode of action for broad-spectrum disease control and integrated resistance management. Priaxor 225 EC is a protectant and systemic fungicide used in winter and spring wheat, durum wheat, winter and spring barley, oats, rye, and triticale. It has systemic and translaminar properties that give a higher level of disease control and reduce crop damage.
The chemical fungicides market report table of contents includes:
1. Executive Summary
2. Chemical Fungicides Market Characteristics
3. Chemical Fungicides Market Trends And Strategies
4. Chemical Fungicides Market – Macro Economic Scenario
5. Global Chemical Fungicides Market Size and Growth
….
31. Global Chemical Fungicides Market Competitive Benchmarking
32. Global Chemical Fungicides Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Chemical Fungicides Market
34. Chemical Fungicides Market Future Outlook and Potential Analysis
35. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Chemical Fungicides Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Chemical Fungicides Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Chemical Fungicides Market, Segmentation By Active Ingredients, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 76: BASF SE Financial Performance
Table 77: Bayer AG Financial Performance
Table 78: Corteva Inc Financial Performance
Table 79: Syngenta AG Financial Performance
Table 80: FMC Corporation Financial Performance
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