Dicamba Market - Forecast(2023 - 2028)

Overview

Dicamba Market is forecast to reach $609.6 million by 2025, after growing at a CAGR of 7.5% during 2020-2025, due to the increasing need for safe food and growing awareness of crop protection. Furthermore, the global population growth has triggered dicamba demand to increase maximum crop yield coupled with high export tax rebates. In addition, dicamba herbicide is seen as an alternative to glyphosate, which is expected to drive the demand over the forecast period.The report covers Dicamba Market size by crop type and formulation, Dicamba Market share by top 5 companies and also the market share by start-ups during the forecast period. 

Report Coverage

The report: “Dicamba Market– Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Dicamba Market.

Key Takeaways

·         Increasing use of dicamba leads to growing concerns about drift damage caused by blanket spraying and vaporization of dicamba post-treated area.

·         In the coming years, R&D and advanced agricultural technologies are expected to increase competition for the dicamba market.

·         Global demand for dicamba herbicides is expected to drive the Asia-Pacific market in the agricultural application coupled with its export, especially from China.

Physical Form - Segment Analysis

Liquid dicamba herbicide holds the largest share in the global market for dicamba in 2018, due to an increase in spray hoses, air sprayers and aerosol sprays in agricultural processes. Liquid formulations are easy to mix, apply and measure with hose end sprayers or compressed air sprayers.

Crop Type - Segment Analysis

Cereals & grains, oilseeds & pulses pastures & forage crops and others, including sugarcane, tea, coffee, fruits and vegetables, are the main types of crops for which dicamba herbicides are used. The segment of oilseeds & pulses is expected to be the fastest growing industry during the forecast period. The cereals & grains segment holds the largest share in the global dicamba market in 2018. The need for dicamba herbicides is driven by rising demand for cereals & grains and high crop loss due to hazardous herbs and weeds.

Geography - Segment Analysis

North America holds the largest share in the global dicamba market in 2018 up to 29%. Glyphosate is commonly used as an herbicide in North America. However, the emergence of glyphosate-resistant weeds has propelled the farmers to adopt dicamba as an alternative herbicide. In addition, the International Agency for Research on Cancer has identified glyphosate with carcinogenic characteristics. This, in turn, has triggered the demand for dicamba herbicide in the region.

Drivers – Dicamba Market

• Reduction in arable land and an increase in food demand.

With construction increasing on agricultural lands, the area under crop cultivation is declining. The decrease in arable land is expected to be met by increasing crop yield and production. To satisfy the food needs of the growing population, farmers are using more crop protection chemicals including herbicides, to increase corresponding crop yields per hectare. The use of dicamba herbicides globally as a pre-emergence herbicide in agriculture is significantly increased due to its ability to suppress the growth of perennial weeds in cropland.

Challenges – Dicamba Market

·         awaiting regulatory consents

Pending regulatory approvals are slowing market growth for new dicamba formulations. For instance, Monsanto and BASF have developed new dicamba mixtures Mon 1661 and Engenia respectively, which can be used on dicamba resistant soybean and cotton that are awaiting EPA approval.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Dicamba Market. In 2019, the market of Dicamba has been consolidated by the top five players accounting for xx% of the share. Major players in the Dicamba Market are BASF SE, Bayer Crop Science, E.I. Du Pont Nemours Company, Dow Chemicals Company, Syngenta AG, Nufram Limited, Aero Agro Chemicals Industries Ltd, SinoHarvest, Albaugh, LLC, and Shanghai Bosman Industrial Co, Ltd., among others.