A
new research report by Transparency Market Research offers a
comprehensive evaluation of the global Propargite
Market. The
study, titled “Propargite
Market - Global Industry Analysis, Size, Share, Growth, Trends and
Forecast 2016 - 2024”,
is available for sale on the firm’s website.
Propargite
Market: Overview
Propargite
is a pesticide used to kill mites. It is an acaricide – a class of
pesticides that kill members of the arachnid subclass Acari, which
includes ticks and mites. Acaricides are used both in medicine and
agriculture, although the desired selective toxicity differs between
the two fields. Propargite is also named as
2-(4-tert-butylphenoxy)cyclohexyl prop-2-yne-1-sulfonate. Its trade
names are Omite and Comite.
Continuous
increase in the global pesticide consumption, alteration in pesticide
usage and environmental issues has had a great impact on the
propargite market demand. The pesticide market is mainly segmented
into herbicides, insecticides, and fungicides.
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Propargite
Market: Key Drivers and Restraints
The
global herbicide market has rapidly grown over the last decade as
compared to the other segments. However, due to some post effects
such as formation of residuals in soil run-offs, high carbon
emissions, and decreased food quality, the demand for herbicides has
shown a decline in the past couple of years. Furthermore, consumers
are attracted towards insecticides that show better performance. This
shift in the pesticide usage pattern is considered to drive the
propargite market demand.
Propargite
exhibits properties such as low residual limits, less toxicity and
improved food quality. It degrades in soil within two weeks of
application and has low potential to volatize in atmosphere.
Propargite is sprayed directly on plants or injected in them. Hence,
it is considered as one of the most suitable pesticides for rice,
maize, fruits, garden plants, lawns and rangelands. Owing to these
versatile uses of propargite, it is said to be compatible with the
Integrated Pest Management Program (IPM).
In
spite of various drivers driving the market growth, severe
environmental regulations related propargite are likely to hinder the
market growth. Symptoms of exposure and poisoning to propargite are
eye and skin irritation. In addition to this, propargite also causes
sensitization. It is highly toxic to amphibians, fish, and
zooplankton. Propargite causes potential carcinogenity. Propargite is
considered as hazardous and poisonous pollutant, which, if released
in the atmosphere may ultimately result in death of all the living
organisms. This safety issue can be considered as a restraint for the
overall propargite market demand. The use of biopesticides can be
deemed as a potential substitute in near future.
Propargite
Market: Region-wise Insight
In
terms of global demand, Asia Pacific is expected to attain the
leading position in the propargite market over the forecast period.
Currently, China stands as the largest importer of propargite.
Moreover, with an increase in production of propargite in the past
few years, China is likely to be the leader in the propargite market
in the near future, followed by India and Japan owing to a fast paced
demand.
The
U.S. and Germany are the leading propargite producing countries in
North America and Europe respectively. They are expected to show
similar trend over the forecast period. The U.S. is considered as a
mature market for propargite imports. However, the export markets are
estimated to show a slow growing demand in next few years. Europe is
anticipated to decline in domestic as well as the global propargite
market. Other European countries such as France and Italy are likely
to become the largest consumers. Rest of the world region, especially
Africa is estimated to show potential markets over the coming years.
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Propargite
Market: Key Players
At
present, manufacturers such as Bayer Crop Science AG, Drexel Chemical
Company, Gujarat Pesticides Private Limited and Kenvos Biotech
Company Limited dominate the propargite market.
The
report offers a comprehensive evaluation of the market. It does so
via in-depth insights, understanding market evolution by tracking
historical developments, and analyzing the present scenario and
future projections based on optimistic and likely scenarios. Each
research report serves as a repository of analysis and information
for every facet of the market, including but not limited to: Regional
markets, technology developments, types, applications, and the
competitive landscape.
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