Flutriafol Market - Forecast(2023 - 2028)

Flutriafol Market Overview

Flutriafol market size is estimated to reach a value of US$421.6 million by the end of 2027 after growing at a CAGR of 3.2% during 2022-2027. Flutriafol is a class of triazole fungicide and a member of monofluorobenzenes. It is majorly used as a preventative and curative fungicide. It is considered as one of the most systematic triazole fungicide which translocated quickly into the plant and rapidly taken up by the plant. It is widely utilized for resistance to major fungal diseases. This fungicide acts by blocking the synthesis of ergosterol in sensitive specifies of fungi. It protects plants from rust and powdery mildew. It is moderately soluble in water and stable in aquatic systems. The fungicides such as triadimefon and flutriafol are applied to seed at sowing in cereals and grains in order to develop protection from diseases.

COVID-19 Impact

Many industries across the globe have faced several challenges due to the COVID-19 pandemic. The industries such as textile, agriculture, automotive, construction and furniture including many others have experienced pitfalls. Many projects in such industries have been halted due to an interrupted supply chain and employee shortages due to quarantines. Also, the production and demand in agriculture industry has declined due to an interrupted supply chain and cessation in transportation of agricultural goods and fertilizers. Thus, the global pause in industrial production and distribution, the demand and consumption of flutriafol has hampered to an extent in several industries. According to the U.S. Department of Agriculture (USDA), in early February 2020, the combined value of 8 major crops such as corn, oats, sorghum, barley, upland cotton, rice, wheat and soybeans was estimated at US$ 108.8 billion. However, with WASDE report in June 2020, the combined value of production forecast was revised to US$ 103.7 billion which is reduced by 5%. Thus, the decrease in agricultural production in turn hampered the demand for flutriafol during the COVID-19 pandemic.

Report Coverage

The report: “Flutriafol Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the flutriafol industry.

By Type: Flutriafol 250 g/L SC, Flutriafol 500 g/L SC, Flutriafol 125 g/l SC and Others.
By Purity: Below 95%, 95% and Above 95%.
By Application Method: Foliar and Soil.
By Application: Cereals and Grains (Wheat, Barley, Rice and Others), Oilseeds and Pulses, Fruits and vegetables (Apple, Banana, Pears, Watermelon, Tomato and Others), Others (Cotton, Coffee, Sugar Cane and Others).
By Geography: North America (USA, Canada and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC) and South America (Brazil, Argentina, Colombia, Chile and Rest of South America) and Rest of the World (the Middle East and Africa).

Key Takeaways

• Asia-Pacific is the dominating region in the global flutriafol market. This growth is mainly attributed to the increased demand for flutriafol in cereals & grains and oilseeds & pulses application. 
• The significant growth in global agriculture output and adoption of healthy diet is driving the growth of global flutriafol market. 
• Flutriafol plays an important role in several applications such as fruits, vegetables, cereals and grains and oilseeds & pulses which is expected to provide significant growth opportunity for the global market.

 Figure: Asia Pacific Flutriafol Market Revenue, 2021-2027 (US$ Million)

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Flutriafol Market Segment Analysis – By Type

The flutriafol 250 g/L SC segment held the largest flutriafol market share in 2021 and is projected to grow with a CAGR of 2.9% during the forecast period. Flutriafol is a demethylation inhibitor fungicide that is used for preventative and curative treatment. It inhibits specific enzymes such as fungal cytochrome P450 and C14-demethylase which plays a significant role in sterol production. Flutriafol 250 g/L SC can be used in wide range of plants such as barley, corn, grapes, almond, celery, cotton, pear, soybean, sugar beet, wheat and peanut including many others. It can be applied through drip irrigation or sprinkler irrigation. Flutriafol 250 g/L SC is considered compatible with many other products and can be mixed with other herbicide, fungicides and insecticides. The aforementioned factor is increasing the demand for flutriafol 250 g/L SC.

Flutriafol Market Segment Analysis –By Application 

The cereals and grains segment is expected to grow at a fastest CAGR of 3.7% during the forecast period in the global flutriafol market. Flutriafol is a triazole fungicide utilized to control powdery mildew and rusts on the crops. It mainly prevents sterol biosynthesis in fungi and can be used in range of fruits, vegetables, cereals and grains and cash crops including others. It is suitable to use in range of cereals and grains such as wheat, barley and rice including many others. The increasing consumer inclination towards fresh food diet and healthy packaged food owing to the change in lifestyle, increase in disposable income and surge in population is boosting the demand for cereals and grains. Surge in demand and production of cereals and grains is providing the ample growth opportunities to the industry players in global flutriafol market.

Flutriafol Market Segment Analysis – By Geography

The Asia Pacific held the largest flutriafol market share in 2021 and is projected to grow with a CAGR of 4.0% during the forecast period. This growth is mainly attributed to the increase in demand for flutriafol in several application in this region such fruits, vegetables, cereals and grains and oilseeds and pulses including many others. The presence of numerous developing countries such as China, India, Indonesia and Malaysia among others are the major countries supporting the growth of the market. Increase in population, change in lifestyle and rise in disposable income increases the demand for healthy food items such as fruits and vegetables. Thus, the growth of arable land and agricultural output in this region is boosting the demand for flutriafol. According to Asia Development Outlook 2021, currently, fruits and vegetables account for 32% of production value in agriculture with which India and Indonesia being the top producers of fruits and vegetables. Thus, the growth in production of high value crops is boosting the demand for flutriafol in this region. 

Flutriafol Market Drivers

Surge in demand for fruits owing to adoption of a healthy diet

Currently, agricultural practices are developing across the globe in order to provide diverse food, meet the fast-increasing food demand and provide nutritious food. Rising urbanization, increase in working population and increase in disposable income has shifted consumer food preferences towards fruits and vegetables, meat, dairy, eggs and fish. The change in food preferences demand more resource-intensive production and requires maximum output from the invested resources. Agricultural fertilizers and fungicides help to reduce the loss of food crops by removing the adverse effects from the fungi and other microorganisms in turn increases the demand for fungicide such as flutriafol. According to the National Horticulture Database published by National Horticulture Board, the fruits production of India stood at 99.07 million metric tonnes during 2019-20 and accounted for 6.66 million hectares area under cultivation of fruits. Thus, an increase in the production and consumption of fruits boosts the growth of the global flutriafol market. 

Increase in agricultural output across the globe

Over the years, agriculture industry has evolved with the adoption of developed technologies, green practices and sustainable production across the globe. Agriculture is highly diverse sector comprising of operations from small farms to large multinational holdings. According to United Nations Food and Agriculture Organization (FAO), Agricultural Outlook 2019-2028, the world demand for agricultural products is estimated to grow by 15% over a coming decade. Over this period, the demand for cereals for food is estimated to grow by 150 million tons. Increase in world food demand and rapidly growing technological innovation has fueled the agriculture output. However, changing climatic conditions, spread of crop diseases and new plant-breeding techniques requires effective fertilizer and agricultural chemical solutions, in turn, increasing the demand for Flutriafol. Thus, the growth in agricultural output drives the growth of the global flutriafol market.

Flutriafol Market Challenge

Adverse health impact of flutriafol

Flutriafol is a triazole fungicide which widely used in fruits, vegetables, oilseed and pulses and cereals and grains. However, it is registered to have certain adverse impacts on human health and environments. It is considered a toxic fungicide for aquatic life having long-lasting effects. It is moderately toxic when comes in contact with skin and ingestion. Thus, there are also several regulations related to the use of flutriafol for its labeling and residue level. Thus, the health and environmental impacts of flutriafol is hindering the market growth.

Flutriafol Industry Outlook

The top 10 companies in the Flutriafol industry include -

1. FMC Corporation
2. UPL
3. Genfarm
4. Apparent Ag
5. Syngenta
6. Zenith Crop Sciences
7. Rudong Zhongyi Chemical Co. Ltd.
8. Jiangsu Tuoqiu Agriculture Chemical Co. Ltd.
9. Zhejiang Sega Science and Technology Co. Ltd.
10. Jiangsu Luye Agrochemicals Co. Ltd.

Recent Developments

• In June 2021, FMC Corporation’s fluindapyr, a novel succinate dehydrogenase inhibitor (SDHI) fungicide received U.S. Environmental Protection Agency (EPA) registration.
• In February 2021, FMC Corporation collaborated with Novozymes, a world leader in biological solutions, in order to develop and commercialize biological enzyme-based crop protection solutions.
• In August 2020, FMC Corporation has launched a new fungicide Xyway 3D. It comprises of most systematic triazole fungicide, flutriafol along with unique at-plant flexibility. 

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