Tricyclazole Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
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.
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The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.
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