About the Azoxystrobin Market
Fungicides are chemicals that are formulated to kill fungi. Triazoles, strobilurins, dithiocarbamates, phthalimides, and benzimidazoles are commonly used fungicides. Azoxystrobin is a systemic fungicide that belongs to the class of the strobilurin fungicides. Azoxystrobin helps in protecting crops against prevalent fungal diseases including Septoria leaf blotch, rye leafrust (Puccinia triticina), stripe rust, powdery mildew, wheat leaf rust (Puccinia recondita), and downy mildew. The specified concentration of azoxystrobin is 25-400 grams of active ingredient per hectare. The chemical is a preferred fungicide for crops such as wheat, rice, grapevine, banana, and pepper.
Technavio’s analysts forecast the global azoxystrobin market to grow at a CAGR of 6.12% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global azoxystrobin market for 2016-2020. To calculate the market size, the report considers revenue generated from the sales of azoxystrobin.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Azoxystrobin Market 2016-2020
Technavio recognizes the following companies as the key players in the global azoxystrobin market: FMC, Hangzhou Tianlong Biotechnology, Syngenta, and Yancheng Limin Chemical.
Other Prominent Vendors in the market are: CHEMOS, Jinan Glyline Chemical, Shanghai MIO Chemical, Yangzhou Jeffrey International, and Zhejiang Rayfull Chemicals.
Commenting on the report, an analyst from Technavio’s team said: “A trend influencing market growth is the growing adoption of soil fertility management practices. These practices have gained prominence primarily because the loss of arable land and an increase in the demand for food, which mandates crop yield efficiency. Soil fertility management involves practices such as conservation tillage, crop rotation, and the optimal use of fungicides and fertilizers. Soil management practices help improve the quality and quantity of the produce. Soybean, maize, barley, and sugarcane crops account for the major crops where soil fertility management practices are being adopted.”
According to the report, a key growth driver is the increased demand for food grain. Providing the growing population with a sustainable, secure supply of safe, nutritious, and affordable high-quality food using less land, with lower inputs has become a prime concern globally. The consumption of food has increased gradually, and the per capita consumption was 332 kilograms per person per year in 2015; it is expected to reach 344 kilograms by the end of 2030. The global food grain production in 2015 was approximately 2.8 billion metric tons in comparison to 2.5 billion metric tons in 2014. This estimate includes overall consumption of food grains by humans, livestock, and producers of biofuels.
Further, the report states that a key growth driver is the growing fungicide resistance. Fungicide resistance poses a threat to control the spread of fungal diseases because the strains that have acquired resistant are the only ones that thrive, producing descendants that have inherited the resistance.
FMC, Hangzhou Tianlong Biotechnology, Syngenta, Yancheng Limin Chemical, CHEMOS, Jinan Glyline Chemical, Shanghai MIO Chemical, Yangzhou Jeffrey International, Zhejiang Rayfull Chemicals.
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