Dicamba Herbicide Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Dicamba Herbicide Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Dicamba Herbicide market is witnessing a CAGR of 1.95% during the forecast period (2020-2025).

Key Highlights

• The shrinkage in arable land, changes in climatic conditions and an increase in prominence for pre-emergence herbicides are the major factors driving the global Dicamba Herbicide market.
• The tendency of herbicide drift and increase in resistance of weeds towards herbicides are some of the major factors restraining the growth of the market studied.
• Bayer AG (The Monsanto Company), The dow chemical company, Basf SE and The dow chemical company are some of the major players who are operating in this market.

Key Market TrendsShrinkage in Arable Land and Increase in Food Demand

The global population is increasing at an exponential rate which is around 75 million annually or 1.1% per year. According to the U.S Census Bureau, the world population is projected to reach 9 billion by 2044, an increase of 50% over the next 45 years. The critical area of concern is to meet the food demand for these burgeoning populations while farmland continues to shrink. Additionally, the growth of various pests across crops is further declining crop productivity. Hence there is a demand for crop protection chemicals including herbicides to meet this global food security. There is a significant increase in the application of dicamba herbicides across the globe as a pre-emergence herbicide in agriculture owing to its ability to control the growth of perennial weeds in cropland.

North America is Leading the market

North America is projected to reach the largest market for Dicamba herbicides during the forecast period (2019-2024). In North America, glyphosate is extensively used as a herbicide. However, the emergence of glyphosate-resistant weeds has propelled the farmers to adopt dicamba as an alternative herbicide. In addition, glyphosate has been identified with carcinogenic characteristics by the International Agency for Research For Cancer. This, in turn, has created the demand for dicamba herbicide in the region and the demand is projected to increase further during the forecast period.

Competitive Landscape

Bayer AG (The Monsanto Company), The dow chemical company, Basf SE and The dow chemical company are some of the major players who are operating in this market. These players are entering into expansion and partnership as their key market strategies to expand their presence across the globe. In Apr 2016, companies such as Monsanto Company invested USD 975 million to expand its manufacturing facility at its Luling plant in the United States. The expansion is to deliver strong Dicamba Herbicides formulations to growers and strengthen its position in critical weed management in the region.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Bayer AG (The Monsanto Company)
Basf SE
Corteva Agriscience
Nufarm Ltd
Marubeni Corporation
Albaugh LLC
Alligare, LLC
ADAMA Ltd

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