Mancozeb Market Size to be Worth USD 2651.97 Million by 2032
24 June 2024, New Delhi: The Mancozeb market is showing sustained growth globally, driven mainly by the strong demand for this fungicide in agriculture. Its widespread use in combating fungal diseases across a variety of crops plays a key role in enhancing crop yield and quality. Moreover, its application in horticulture and gardening is crucial for preventing diseases in fruit trees, vegetables, and ornamental plants.
The global Mancozeb market was valued at USD 1784.52 million in 2023 and is projected to reach USD 2651.97 million by 2032. The market is anticipated to grow at a compound annual growth rate (CAGR) of 4.50% during the forecast period.
Extensive research findings indicate that the Asia Pacific region is anticipated to exert a significant influence over the worldwide Mancozeb market. This dominance can be attributed to the heightened requirement for fungicides in the agricultural domain, widespread cultivation of crops, and the substantial presence of key industry participants in nations such as China and India. Moreover, the escalating uptake of innovative farming methods and the growing emphasis on crop safeguarding are contributing significantly to the progression of this region.
Integrated Pest Management and Mancozeb
The increasing adoption of integrated pest management techniques and growing awareness of sustainable farming practices are also contributing to the rising demand for Mancozeb. Given its efficacy in disease management and cost-effectiveness, the Mancozeb market holds significant importance in the worldwide agricultural sector.
Mancozeb, a fungicide extensively utilized in agriculture to combat fungal diseases, comprises a blend of two primary active components, ethylene bisdithiocarbamate (EBDC) and manganese (Mn) ethylene bisdithiocarbamate. This intricate formulation offers comprehensive protection against a diverse array of fungal pathogens such as blights, rots, and mildews. Mancozeb exerts its effects through various mechanisms, impeding essential enzymes crucial for fungal metabolic processes. Renowned for its preventive and remedial attributes, Mancozeb serves as an efficient asset in disease control tactics. Application techniques encompass spraying, dusting, or treating seeds, with strict adherence to prescribed dosages, safety measures, and operational instructions being paramount.
Mancozeb Dry Form to Lead the Market
Extensive research on the global Mancozeb market indicates that the dry form is poised to lead the market. This preference for the dry form stems from its superior storage stability, ease of handling and transportation, and greater convenience in application. Farmers and manufacturers favor the dry form due to these practical benefits, making it the primary choice in the market and projecting it to dominate the global Mancozeb sector.
Among the different modes of application, Foliar Spray is anticipated to hold the highest market share in the global Mancozeb industry. This method is widely utilized for administering Mancozeb to combat fungal diseases in various crops such as fruits, vegetables, and cereals. Foliar spray is preferred for its ease of use, extensive coverage of plant surfaces, and enhanced absorption of the fungicide into plant tissues, ensuring effective disease control. Consequently, Foliar Spray is expected to emerge as the predominant application mode in the global Mancozeb market.
Mancozeb & Acquisitions
The fruits & vegetables is forecasted to exhibit dominance in the global Mancozeb market. This projection is due to the widespread cultivation and consumption of fruits and vegetables globally, necessitating regular pest management practices to ensure high-quality crop yields. Mancozeb is a key element in safeguarding fruits and vegetables against diseases such as downy mildew, leaf spot, and blight, given its broad-spectrum efficacy and cost-effectiveness. Moreover, the rising demand for organic fruits and vegetables, which often rely on organic fungicides like Mancozeb for protection, further bolsters the prominence of the fruits & vegetables in the global Mancozeb market.
- In June 2020, Corteva Agriscience acquired the Mancozeb fungicide business from ADAMA Agricultural Solutions, bolstering its market position and broadening its crop protection portfolio.
- In January 2021, Syngenta introduced a new fungicide formulation named MIRAVIS Top, designed to effectively control various crop diseases and promote resistance management.
- In March 2021, UPL Limited entered into an agreement with Nihon Nohyaku Co. to acquire a 51.2% stake in Nihon Nohyaku India Pvt. Ltd., the Mancozeb manufacturing facility, aiming to fortify its presence in the Mancozeb market and improve its manufacturing capabilities.
Prominent figures within the worldwide Mancozeb industry are instrumental in overseeing the manufacturing, supply, and marketing of agricultural products containing Mancozeb renowned for its fungicidal attributes.
Companies Dominating Mancozeb Market
The Mancozeb Market is dominated by a group of elite companies including Bayer CropScience, Indofil, UPL Limited, Sumitomo Chemical Co., Ltd., Limin Chemical Co. Ltd., Certis USA LLC, Nufarm Limited, Syngenta AG, Adama Agricultural Solutions Ltd, Coromandel International Limited, and United Phosphorus Limited. These industry leaders are prominently involved in the manufacturing, supply, and marketing of Mancozeb, a widely utilized fungicide. Renowned for their specialized knowledge and robust market presence, these firms are recognized for delivering efficient agricultural protection products to farmers and cultivators globally.
The article is part of a report on Mancozeb by Adroit Market Research.
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