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Jan 16, 2020 3:59 AM ET

Chlorothalonil Market is Forecast to Reach $281.05 Million by 2025, After Growing at CAGR of 4.61% During 2020-2025


Chlorothalonil Market is Forecast to Reach $281.05 Million by 2025, After Growing at CAGR of 4.61% During 2020-2025

iCrowd Newswire - Jan 16, 2020

Chlorothalonil Market is forecast to reach $281.05 Million by 2025, after growing at a CAGR of 4.61% during 2020-2025.Due to extensive applications in the agricultural sector to protect crops from various classes of fungi or fungi spores, the global chlorothalonil market is expected to gain traction during the forecast period. Chlorothalonil is a non-systemic protect ant fungicide which prevents foliar diseases on vegetables, fields, and ornamental crops.
 
Key Takeaways
  • Chlorothalonil, was the most used pesticide in the U.K., where it was is applied to millions of hectares of fields. The farmers called the ban overly precautionary as the loss of chlorothalonil will come as a huge blow to farmers. 
  • In the U.S., Chlorothalonil is widely used in vegetables and fruits where its consumption is 48%, followed by 9% in orchards and grapes, 5% in corn, and 38% was consumed by other crops.
  • Rise in the number of resistant pests, increasing food demand, and need for increased agricultural productivity is expected to have a positive impact on the growth of chlorothalonil market. 
By Type- Segment Analysis
Based on type chlorothalonil is divided into 98% chlorothalonil, 96% chlorothalonil, and 90% chlorothalonil. 98% chlorothalonil segment held significant share in the chlorothalonil market in 2019. According to AgroNews, among all the exported chlorothalonil products containing TC and formulations, chlorothalonil 98.5% TC ranked first, accounting for 54.29% of the total. U.S. Environmental Protection Agency classified chlorothalonil as a general use pesticide (GUP). Chlorothalonil interferes with the enzymatic reactions in cells, resulting in insect death. It is also commonly used as a preservative agent in paints, resins, coatings, and emulsions on golf courses, lawns, and turfs.
 
By Product – Segment Analysis
 
Wettable powder held significant share in the chlorothalonil market in 2019. Chlorothalonil is a white, odorless, combustibleand crystalline solid. Commercial products may be formulated as wettable powder, water-dispersible granules, and dust. The three main formulations of chlorothalonil used in agriculture are wettable powder containing 75% chlorothalonil, a water dispersible granule and 500 g chlorothalonil/litre. 
 
By Crop Type – Segment Analysis
 
Cereals and grains held significant share in the chlorothalonil market in 2019.The growth of chlorothalonil for crop protection chemicals is mainly driven by the growing need to protect cereals and grains such as rice, maize and wheat, from pests.Without the use of plant protection products like chlorothalonil, yields will be significantly reduced, depending on crop. According to EPRS, the yield gain by use of fungicides is between 19% for wheat to 42% for potato; while rice, maize and soybean have comparable yield gains by active ingredients, around 30%.As chlorothalonil is the most effective of the multi-sites available, it has become the backbone of fungicide programmes like foliar application in both wheat and barley.
 
Geography- Segment Analysis
 
Asia- Pacific is accounted for significant share of more than 49% in market, as it is one of the major producers of key crops like rice, corn and cotton. Synthetic pesticides have been widely used in India to reduce approximately 45% gross crop loss owing to the pest and disease infestation. Variation in the climatic condition in Asia-Pacific enables the production of wide variety of crops which is expected to have a positive impact on the agricultural sector over the forecast period.Around 90% of the world’s rice region is concentrated in Asia, with 28% in India and 20% in China, mostly grown under paddy circumstances and therefore very dependent on the annual monsoon season.
 
Drivers –Chlorothalonil Market 
  • Rapid rise in population leading to high demand for quality food 
The increase in food demand due to increase in population is the major growth factor for chlorothalonil market. Increasing population leading to need for higher agriculture output, reduction in arable land due to increasing urbanization are the factors driving this market. With construction increasing on agricultural lands, the area under crop cultivation is declining. The decrease in arable land is expected to be met by increasing crop yield and production. To satisfy the food needs of the growing population, farmers are using various pesticides like chlorothalonil, to increase corresponding crop yields per hectare.
 
Challenges – Chlorothalonil Market
  • Increasing regulations to ban use of harmful fungicides which effect environment as well as human and animal health
Regulatory organizations such as the World Health Organization (WHO) and the U.S. Environment Protection Agency (EPA) have implemented stringent regulations to reduce the use of pesticides, in a bid to alleviate environmental harm. These organizations also work towards increasing customer awareness of the use of synthetic pesticides. This is negatively affecting growth of several fungicides like chlorothalonil. In March 2019, chlorothalonil was banned in the European Union after the European Standing Committee on Plants, Animals, Food and Feed reported human health and environmental concerns.
 
Market Landscape
 
Technology launches,acquisitions and R&D activities are key strategies adopted by players in the insulated wall panels market. In 2019, the market of chlorothalonil has been consolidated by the top five players accounting for xx% of the share. Major players in the chlorothalonil market are ABI Chemicals, AK Scientific, AMVAC Chemical Corporation, Bayer CropScience, Dacheng Pesticide, Gfs Chemical, Rallis India Limited, Sd Biotech, Sipcam Oxon, Suli Chemical and Syngenta AG among others. 
 
Acquisition
  • In June 2017, AMVAC Chemical Corporation completed an acquisition of certain herbicides, fungicides and insecticides assets relating to the abamectin, chlorothalonil and paraquat product lines from a group of companies, including Adama Agricultural Solutions, Ltd

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