Carbendazim Market - Global Industry Analysis, Size, Share, Trends and Forecast 2017 - 2025
The global carbendazim market is driven primarily by its consistent use in fruit production. As fungi are one of the main threats to fruit plantations, fungicides such as carbendazim have witnessed a steady growth in demand.
The global carbendazim market is currently dominated by North America and Europe, but the rising production of fruits in emerging regions such as Asia Pacific and Latin America could enable rapid growth of the regional carbendazim markets. Local production of carbendazim is on the rise in both regions. The presence of leading fruit producers such as India, China, Brazil, and Mexico, in addition to Pakistan, Bangladesh, Argentina, Thailand, etc. has ensured steady growth of the carbendazim market in developing economies.
The carbendazim market has also benefited from the consistent efforts by emerging economies to maximize their agricultural output. While the rising population of Asia Pacific and Latin America has played its part in raising local production, the demands placed by the globalized fruit trade have resulted in solid investment in technological development of the agricultural sector in emerging economies and the rising prevalence of industrialized agricultural practices. The rising demand in developed regions for fruits grown in fruit producing countries is also likely to have a significant positive impact on the global carbendazim market in the coming years, as carbendazim is also used as an antifungal preservative in packaged fruits.
Fungicides refer to the biocidal chemical compounds used to hinder the growth of fungi and their spores, which are readily used to control the damage caused due to blights, rusts, molds, and mildews. In the fruit and agricultural crops industry, carbendazim is among the most commonly used fungicides to prevent the growth of fungi. It also finds application in the production of several citrus fruits such as pomelo, orange, citron, etc. besides several other crops and fruit trees. The necessity of carbendazim is driven by the significant curtailment of the crop that can be caused due to fungal growth. Additionally, fungal growth on fruits also affects the quality aspects, and makes them inappropriate for consumption. Carbendazim is also used to control a broad spectrum of diseases that affect fruits, vegetables, oilseeds, and oilseeds.
Carbendazim is applied to plants through drip irrigation method to the soil either in form of solution or suspension. This restricts the present and future growth of fungi through soil. Considering the impact of fungi on agricultural produce, the demand for carbendazim is expected to grow, thus propelling the carbendazim market. Due to these factors, the need to control fungi for the proper yield of crops and fruits is almost imperative, and hence the demand in the global market for carbendazim is escalating, and is projected for a healthy CAGR during the forecast period of 2017 to 2025. The report is a comprehensive analysis of the market, which is meant to serve as an asset to the existing and new players in this market.
The constant striving by the developed countries to maximize the agricultural output from the available arable land is urging several players to invest in the development of effective products. This is the primary factor driving the growth rate in the market. Since carbendazim is also used to protect the stored food, the increase in the effectiveness of fungicides is paramount. Carbendazim is commonly sold along with other fungicides such as triazoles and dithiocarbamates. Conversely, the unforeseen effects of carbendazim on human beings are anticipated to affect the demand to a certain extent.
The report finds that Europe and North America currently contribute to the maximum demand for carbendazim, although with the surge in agricultural output across the globe and intensifying environmental regulations in developed regions, the demand for carbendazim is expected to significantly increase from the region of Asia Pacific during the forecast period. The primary reason of escalating demand for fungicides in the Asia Pacific countries of China, India, and the region of Latin America is a reflection of constantly increasing population in these parts, which is necessitating a better yield to fulfill the increasing food demand.
The major manufacturers in the global carbendazim market include Syngenta AG, BASF SE, Troy Corporation, The Dow Chemical Company, Adama Agricultural Solutions Ltd., Bayer Cropscience AG, E. I. duPont de Nemours and Company and FMC Corporation.
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