Tricyclazole Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

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Tricyclazole Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

Status : July, 2020 | Chemical & Materials | PPT format

Report Digest


Global Tricyclazole Market: Snapshot

Tricyclazole is a nine-carbon benzothiazole compound that has gained widespread demand as a fungicide. Fungal attacks are among the most devastating pathogenic problems for the agriculture sector, as they can spread quickly and render entire crops valueless. Tricyclazole has become popular for use against blast in paddy, where it inhibits the ability of the fungi to biosynthesize melanin. More than 100 grams of tricyclazole is needed per acre, with commercial formulations often containing 70-80% tricyclazole with a recommended dosage of around 150 g per acre.

The global tricyclazole market is driven primarily by the rising demand for paddy as a staple food crop all over the world. Rice has been a staple in many coastal regions across the world, and has grown in demand with globalization due to its ease of cooking and the wide range of dishes in which it can be used. As a result, it has become a key component of the agriculture industry, which has driven investment in research and development in order to maximize paddy output. This is likely to remain a key driver for the global tricyclazole market in the coming years, as improved product formulations of pesticides are likely to be a key requirement for the agriculture sector. While tricyclazole is toxic to some extent, it is much safer than many commonly used fungicides, which has also boosted its demand.

Regionally, Asia Pacific is likely to remain the leading contributor to the global tricyclazole market in the coming years. The key driver responsible for the dominance of Asia Pacific is the traditional dominance of rise in the cuisine of several Southeast Asian countries, which has allowed them to hold a prominent share in global rice production.

Tricyclazole Market: Overview

Tricyclazole – a chemical known for its use as a fungicide – is a compound that helps inhibit and neutralize fungal growth on agricultural produce. The main application for tricyclazole is as fungicide, where it competes with anti-fungal chemicals such as strobilurin, chloronitriles, benzimidazole, and phenylamides. Tricyclazole has the ability to fend off a number of fungal diseases and protects against blast in paddy across all stages: leaf blast, stem blast, and panicle blast. The demand for tricyclazole is high in the agriculture sector owing to its essential role in protecting crops from various fungal infections, which often weaken and curb the growth of crops.

Tricyclazole Market: Drivers and Restraints

The tricyclazole market is a significant part of the fungicide market and the growth dynamics of the former are related to that of the latter. The key factor boosting the tricyclazole market is the demand for increased food production, riding on the back of soaring global population and evolving dietary preferences.

Paddy accounts for the majority of tricyclazole use and has witnessed high growth in demand thanks to rising population, especially in Sub-Saharan Africa and Asia Pacific. In order to cater to the high demand for food grains, farmers around the globe have been focused increasing yield as well as profitability by adopting innovative methods. One of the most successful methods of doing this is upping the use of tricyclazole.

Although fungicides are extremely important for the healthy growth of a plant, it has certain drawbacks. Tricyclazole is moderately toxic in nature; however, the degree of precaution needed to avoid environmental toxification is yet to be determined. It has been found that the prolonged exposure to this compound can lead to skin irritation. Nevertheless, the toxicity of tricyclazole is lower than most other fungicides and this offers an incentive for the demand growth of the chemical.

Tricyclazole Market: Application Evaluation

One of the major application areas of tricyclazole-based fungicides is rice. Tricyclazole helps prevent blast disease in paddy, which is one of the primary reasons for crop damage. A key non-agricultural application of tricyclazole is its usage in paints. Tricyclazole can also be used against certain mites and insects.

Some of the fungi neutralized by tricyclazole are botrytis, alternaria blight, powdery mildews, anthracnose, needle casts, scabs and curls, downy mildews, snow molds, wood rot fungi, and rust.

Tricyclazole Market: Geographical Assessment

Europe tops the demand for tricyclazole-based fungicides, with North America following suit. However, the market is expected to witness impressive growth in Asia Pacific and Latin America in the near future owing to increased investments in agriculture and a high demand for food crops. Coffee plants are one of the major crop types that require the application of tricyclazole-based fungicides, offering significant opportunity for those interested in the Latin American market, especially in countries such as Brazil.

Although tricyclazole currently holds less than 5.0% of the global fungicide market, it is projected to grow at a faster pace compared to other fungicide types.

Tricyclazole Market: Key Players Mentioned in the Report

Some of the major companies operating in the tricyclazole market are Bayer CropScience, Hangzhou Lochem Industrial Co., Ltd., BASF SE, Dow AgroSciences, Syngenta AG, and Biostadt India.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.