Market Analysis
Acaricides help in improving agricultural productivity by restricting the growth of arachnids such as ticks and mites. Additionally, increased demand for acaricides for adequate disease control support and increased crop productivity has uplifted the global acaricides market. Moreover, high acceptance of modern farming techniques among the crop cultivators is adding fuel to the growth of acaricides market. Additionally, rising demand for agricultural products such as fruits, vegetables, cereals, and pulses is projected to drive the growth of the global acaricides market over the forecast period.
Acaricides are a class of pesticides, which are used in the agricultural sector to restrict the attack of arachnid on the agricultural produce. Apart from the agriculture, acaricides are increasingly used in the animal husbandry. Growing demand for food grains coupled with the shrinking farmland is expected to drive the demand for acaricides. Most commonly used acaricides include organochlorine, organophosphorus, natural acaricides, and others.
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Key manufacturers are emphasizing on the new product development in order to enhance the customer base. Apart from that, the key players are promoting their products through advertisements in television and social media, which, in turn, escalates the acaricides demand. The global acaricides market is expected to grow at a CAGR of 5.4% during the forecast period 2017-2024.
Leading Key Players
Some of the key players profiled in the Global Acaricides Market are The Dow Chemical Company (U.S.), Bayer Aktiengesellschaft (Germany), BASF SE (Germany), E. I. du Pont de Nemours and Company (U.S.), Chemtura USA Corp. (U.S.), FMC Corporation (U.S.), Arysta LifeScience Corporation (Japan), Nissan Chemical Industries, Ltd. (Japan), Syngenta AG (Switzerland) and Merck & Co., Inc. (U.S.)
Segment
Global Acaricides Market is segmented into type and application. On the basis of the type, it is segmented into organophosphorus, organochlorine, natural, and others. Among all, the organophosphorus acaricides segment is dominating the market followed by organochlorine. Ease of availability and economical price of the product is driving the growth of this segment.
On the basis of the application, it is segmented into Animal Husbandry, Agriculture and others. Among all, the agriculture segment is dominating the market. Increase in the demand for agricultural products is driving the growth of this segment during the forecast period.
Regional Analysis
Acaricides Market is segmented into Europe, North America, Asia Pacific, and rest of the world (RoW). The Asia Pacific region is leading the global acaricides market followed by Europe. India and China are the major contributors to the growth of acaricides market in this region. Furthermore, high demand for agricultural products from the farmers is considered to be the key driving factor in the Asia Pacific market. Additionally, regulatory approval for the use of acaricides on agricultural products for crop protection is projected to raise the growth of the acaricides market.
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However, the European region is expected to witness a significant growth during the forecast period. European countries like France, Germany and the U.K, is projected to boost the growth of the acaricides market during the review period. However, stringent environmental regulations in the developed economies of North America and Europe region are expected to restrain the market growth in these regions.
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