Tebuconazole Market size is estimated to reach $ 925 Million by 2025, growing at a CAGR of 4.7% during the forecast period 2020-2025. Tebuconazole is a triazole fungicide that is used to treat the pathogenic fungi in the plants. Tebuconazole is also used as a raw material in the seed coating. Tebuconazole helps in a wide variety of farming activities for the treatment and protection of the crops. An increase in the global population and an increase in demand for fruits, vegetables and cereals are increasing the usage of the tebuconazole in agriculture for getting high yield to reach the need for crops is driving the market during the forecast period 2020-2025.
Tebuconazole Market Segment Analysis – By Application
The Application segment of Tebuconazole Market has a Crop fungicide, Seed treatment, Wood preservatives, and others. The Crop fungicide segment registers for the highest market share growing at CAGR of 4.3 % in 2019 and is set to continue for the forecast period 2020-2025. Increase demand for food crops, cereals and vegetables and usage of fungicides for the development of crops is driving the usage of tebuconazole in crop pesticide segments during the forecast period. Increasing usage of fungicides in ornamental plants and turf is fueling the market growth. Seed treatment is also set to grow during the forecast period owing to the increased agricultural practices.
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Tebuconazole Market Segment Analysis – By Geography
Based on Geography the global Tebuconazole Market is segmented into North America, Europe, Asia-Pacific and Rest of the World. Asia-Pacific dominant share with 34% in the year 2019 owing to the increased production on tebuconazole, and China is the largest supplier of pesticides globally. North America is set to have the fastest growth during the forecast period 2020-2025, owing to the increase in demand of fungicides. Increasing in the economy of developing countries and increased demand for cereals, fruits and vegetables globally is driving the usage of tebuconazole in agriculture and increasing the demand of the tebuconazole market during the forecast period.
Tebuconazole Market Drivers
The demand for Cereal Ingredients is driving forward owing to the increase in the consumption of healthy eating habits among the consumers. Cereals are major health and energy source with a lot of proteins and carbohydrates that are acting as drivers for supporting the growth of the Tebuconazole Market.
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Tebuconazole Market Challenges
Stringent regulation by government
The stringent regulations by the government in the manufacturing of fungicides and pesticides are challenging the market. Developments being made for better alternatives are challenging the market during the forecast period 2020-2025.
Tebuconazole Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Tebuconazole Market. Key companies of this market are DuPont Crop Protection, Shanghai Shengnong Pesticide Co., Ltd., Bayer CropScience, Kao Corporation, P&G Chemicals, Shangyu Nutrichem Co., Ltd., Sumitomo Chemical Corporation, Henkel AG & Co. KGAA, Nantong Pest Agrochemical Co., Ltd., Lion Corporation, Stephan Company, and others.
Geographically, Asia-Pacific Tebuconazole Market accounted for the highest revenue share in 2019 and accounts to 34% of the global market share during the forecast period 2020-2025 owing to the high demand for tebuconazole as a pesticide in this region.
Increased demand for new formulation and recent developments made by the key players in a different region of the world are driving the market.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the tebuconazole Market report.
Increased food security in different regions and increased usage of tebuconazole in fungicides, seed treatment are driving the market during the forecast period 2020-2025.
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