The new report by Expert Market Research titled, ‘Global Dicamba Herbicide Market Analysis, Share, Size, Price, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the Global Dicamba Herbicide Market, assessing the market based on its segments like physical form, formulation, crop type, and regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2020): USD 454.4 Million
• Forecast CAGR (2023-2028): 7.1%
• Forecast Market Size (2026): USD 685.7 Million
Dicamba herbicides have a large market in North America. This may be due to advancements in farming methods and technological advancement. Glyphosate has long been a popular herbicide in North America, but with the rise of glyphosate-resistant weeds, farmers are increasingly turning to dicamba, bolstering the herbicide’s market growth.
The Asia Pacific area is predicted to develop at a healthy rate throughout the forecast period due to rising demand for dicamba herbicides in the region. The availability of cheaper resources in the region is also working in the market’s favour. China is emerging as a key centre for dicamba pesticide export due to high tax rebates ranging from 9% to 13%. This has resulted in an influx of dicamba herbicide manufacturers. Because of a rise in producers as well as tax rebates, dicamba is now available at competitive costs, supporting the sector.
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Dicamba Herbicide Industry Definition and Major Segments
Dicamba Herbicide (3,6-dichloro-2-methoxybenzoic acid) is a weed control herbicide used on agricultural grains and turf areas. Dicamba is a herbicide that is used to control broadleaf weeds once they have emerged in maize, soybeans, and a range of other food and feed crops. It can also be used to control bracken and brush in pastures, as well as cacti and legumes.
On the basis of physical forms, the market is segmented into:
On the basis of formulation, the market is divided into:
On the basis of crop type, the market is categorized as:
• Cereals and Grains
• Oilseeds and Pulses
• Pastures and Forage Crops
On the basis of region, the market is segmented into:
• North America
• Latin America
• Middle East and Africa
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Dicamba Herbicide Market Trends
With the world’s population growing, so is the demand for food, making it critical to limit food waste. The use of dicamba increases crop yield while decreasing crop loss. The growing need for food security and safety, as well as increased crop protection awareness, are helping the global market for dicamba herbicide.
The area under crop production is shrinking as agricultural land is converted to development land. Farmers are employing more crop protection chemicals, especially herbicides, to enhance crop output per hectare to fulfil the food needs of a rising population while also conserving land. Organic farming is also gaining popularity in the agricultural industry.
Key Market Players
The major players in the market are Bayer Cropscience AG, Syngenta AG, Nufarm Limited, BASF SE Helena Agri-Enterprises, LLC, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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