Asia Pacific Acaricides Market - Growth, Trends and Forecasts (2017 - 2022)
Acaricides are chemical substances that are used to control tick and mite borne diseases. These are widely used in the agricultural and animal husbandry sector to protect crops and cattle from infestation. They are also found in animal products to protect pets such as dogs and cats from ticks and mites. Asia-Pacific is one of the largest markets for acaricides globally, and the region is expected to show the highest growth at a CAGR of 6.5% during 2015-2020.
The market in Asia-Pacific is growing at an impressive rate due to the increasing usage of crop protection chemicals to control the spread of tick and mite-borne diseases. The major growth drivers of this market are, developing crop protection industry and the rise in demand for crop and animal based food products. While the region possesses immense scope of growth, the high cost of raw materials and the strict regulatory norms imposed by some governments could hinder the market growth.
The market is explained on the basis of product type, application category, geographical reach etc. Agriculture and animal husbandry account for more than 55% of the total market share in the region. However, the consumption of acaricides products is expected to grow in a similar fashion across the application segments, including industrial application, during the forecast period.
Asia-Pacific region is the largest consumer in terms of volume. It is also the fastest growing market in terms of value for acaricides in the world. The region, along with Europe, employs more than 50% of the market share globally. Growth is particularly high in developing and agriculturally dominant countries like China, India and Japan. China is estimated to be the largest market in the region, accounting for 44% of the regional market share.
Key participants in the Asia-Pacific acaricides market are BASF SE, Arysta LifeScieneces, Bayer Ag, FMC Corporation etc. Other than the global leaders, there are many small local players active in the region trying to capture a fraction in the growing market. The market here is witnessing rapid growth in terms of product innovation, with a focus on increasing retail availability of various acaricide products. To capture the new and niche markets in the region, global players are adopting collaboration, merger and acquisition strategies.
Market definition for the specified topic along with identification of key drivers and restraints for the market
Analysis for the Asia-Pacific acaricides market, with region specific assessments and competition analysis on a regional scale
Segment-level analysis in terms of application and end-user demand
Forecasts and estimations for the sub-segment level market
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies, which can influence the market on a regional scale
Identification and analysis of the exogenous and endogenous factors such as macro and microeconomic variables that affect the Asia-Pacific acaricides market on a regional scale
Extensively researched competitive landscape section with profiles of key players along with their share of markets
A comprehensive analysis of recent organic and inorganic developments in the market by the major companies, and strategic benchmarking of developments
Scope of the Study:
Comprehensive overview of the acaricides market
Competitive intelligence regarding the major players in this industry and the strategies adopted by them
Insights about the major countries/regions in which this industry is blooming and identification of the regions which are untapped