Europe Dicamba Market: Global Industry Analysis and Opportunity Assessment, 2016-2020

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Albany, New York, May 2, 2017: Market Research Reports Search Engine
(MRRSE) has included a new study titled, “Dicamba Market-Global
Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 –
2024”.Dicamba is widely used as an herbicide that regulates
broadleaf weed in various domestic, commercial, and non-commercial
applications, including farmland maintenance. Widespread availability
of dicamba and easy usage primarily support the market for decamba
across developed regions. Increasing awareness about efficient crop
protection will provide an impetus to the dicamba market in developing
countries. ( free-pr-online.com)

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The global dicamba market is anticipated to exhibit robust growth over
the next few years. During a four-year forecast period 2016-2020, the
market is likely to expand at a CAGR of 15.4%, attaining a value of
over US$ 457 Mn by 2020 end.

Swelling Awareness about Crop Protection Remains Primary to Drive
Demand

Increasing need for food security and safety, coupled with growing
awareness about crop protection will benefit the market for dicamba
globally. With burgeoning population across the world, the demand for
food is constantly on the rise and the need for minimal food wastage
is repeatedly highlighted. As dicamba supports maximum crop yield with
minimised crop loss, this will continue to be the key driver to
dicamba herbicide market. In addition, attributed to higher tax
rebates, exports from China are consistently increasing, which will
continue to favour the market growth in near future.

Growing Adoption to Replace or Complement Glyphosate Continues to
Drive Market

Dicamba herbicide is rapidly replacing glyphosate. In some regions,
agricultural practices involve the usage of dicamba and glyphosate in
combination. This will remain a major factor bolstering the demand for
dicamba herbicide over the forecast period. Moreover, rapid adoption
of IMP (integrated pest management) will spur the demand for
dicamba-based herbicides during the forecast period.

EPA Approval for Non-volatile Dicamba Will Spur the Demand and
Application

Recently, in November 2016, the U.S. Environmental Protection Act
(EPA) approved over-the-top usage of Monsanto’s non-volatile
dicamba-based herbicide. This will certainly create a wide range of
growth opportunities for established as well as newly entering players
in the global dicamba market. Manufacturers can capitalise on an
opportunity to formulate several types and forms of dicamba to deal
with different types of crops and weeds. Emerging applications of
dicamba in the destruction of multiple weed types to address the
growth of a plethora of crops, will fuel the market over the forecast
period.

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Challenges May Persist despite EPA’s Approval to Dicamba-based
Herbicide

Volatility of dicamba has been found to be the key cause for drift
damage, which may continue to be a key restraint to mass adoption of
dicamba over the next few years. Stringent regulatory approvals will
also remain a major factor hampering the growth of dicamba market over
the forecast period. Moreover, dicamba can reportedly cause a variety
of illnesses and allergic reactions in humans if injested, inhaled, or
adsorbed. This may remain a major limiting factor detaining the
penetration of dicamba herbicide in emerging economies.

Agriculture Remains the Largest Application Segment with over 85%
Market Share

Based on application, the global dicamba market is categorised into
three key segments viz. agriculture, lawn and turf, and others,
including forests, gardens and plants, and other non-commercial
applications. Among the three, agriculture segment is anticipated to
continue dominance in terms of consumption, reaching a value of over
US$ 391 Mn in 2020. This growth is primarily attributed to growing
preference for dicamba over conventional herbicides. Agriculture
segment is predicted to account for over 85% by 2020, expanding at a
CAGR of 8.1%. Whereas, lawn and turf segment will also witness a
promising CAGR of 7.0% over 2016-2020.

North America Outpaces Europe by 2020 due to Higher Market Penetration
by Leading Herbicide Manufacturers

The global market for dicamba is regionally classified as North
America, Latin America, Europe, Asia Pacific, and Middle East and
Africa. Europe is anticipated to continue the leading market position
globally, reaching the revenues worth US$ 120.6 Mn by the end of the
forecast period. North America, owing to rising investments in dicamba
R&D and rapidly advancing agricultural practices, will remain the
second largest market. However, this region is expected to witness a
the highest CAGR of 8.5%, accounting for over 23% market share by 2020
end, in terms of revenues. Europe’s Y-o-Y growth in 2017 over 2016
is estimated at 7.7%, whereas that of North America in 2017 over 2016
is projected to be of 9.2%.

Two of the Market Leaders Sign the Dicamba Supply Agreement for North
America

Browse Full Report with TOC : http://www.mrrse.com/dicamba-industry

Some of the key players operating in the global dicamba market are
BASF SE, Monsanto Co., E I du Pont de Nemours & Company, Bayer AG, The
Dow Chemical Company, Syngenta AG, and Nufarm Limited. Two of the
leading U.S.-based companies manufacturing agrochemicals and supplying
seeds – Monsanto Co. and DuPont, recently announced a supply agreement
that will continue for the next few years, especially for dicamba
sales across the U.S. and Canada.

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