Global Dicamba Market 2018-2022
Dicamba is a chlorophenoxy group compound containing benzoic acid herbicide. Its main application is in the agricultural industry, where it is used to control the growth of annual and perennial broad-leaved weeds in different crops. Dicamba is available in various formulations having different properties based on crop application.
Technavio’s analysts forecast the global dicamba market to grow at a CAGR of 7.95% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global dicamba market for 2018-2022. To calculate the market size, the report considers the revenue generated from the dicamba.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Dicamba Market 2018-2022
Technavio recognizes the following companies as the key players in the global dicamba market: BASF, Bayer, Helena Chemical, Monsanto, Nufarm, and Syngenta
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is incentives and rewards offered to farmers for using dicamba. The key vendors of the global dicamba market have developed benefit programs for farmers owing to the ban imposed on the use of dicamba and the stringent regulations regarding the adverse effects of dicamba on crops. According to the data collected and produced by the University of Missouri, the plantation of soybean was spread across 90 million acres in 2017 in the US, out of which 4% was damaged due to the use of dicamba.”
According to the report, one of the major drivers for this market is Rising awareness of end-users regrading crop protection. Crop protection is the science and routine of observing plants and crops, and understanding their growth process, ailments, and harmful prospects. Crops can be harmed due to many factors such as the unexpected extreme weather conditions, and growth of weeds, insects, and pests.
Further, the report states that one of the major factors hindering the growth of this market is Imposition of ban on the use of dicamba in the US. In 2016, the EPA had registered new dicamba formulations for controlling weeds in cotton and soybean plants; these plants were genetically engineered to resist dicamba. The use of these new formulations on growing plants was approved. In 2017, the EPA reached an agreement with manufacturers to take preventive measures to curb the risk of damage to the neighboring crops (modified cotton and soybeans) while using dicamba formulations to control weeds.
BASF, Bayer, Helena Chemical, Monsanto, Nufarm, and Syngenta
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