Fungicides are specific types of pesticide that are used to control fungi development in crops. Amongst the different types of fungicides, globally, the use of triazole is the highest as it contributes to nearly 17% of the total market share in terms of value. Market demand for bio-based fungicides is also increasing, owing to it being environmentally-friendly/owing to its eco friendly attribute. Bayer AG, Cheminova A/S, Syngenta AG, BASF FMC Corporation, Adama Agricultural Solutions Ltd, Monsanto, DOW Agriscience LLC, and Nufarm Ltd are some of the key market players operating in this market. Companies are focusing on new product launch to enhance their market share, For instance, in 2014, Cheminova Inc. launched a fungicide under the brand name ‘Equation’.
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The global fungicides market is segmented on the basis of type, crop and geography. The type segment is categorized into synthetic fungicide (dithiocarbamates, benzimidazoles, chloronitriles, triazoles, phenylamides, strobilurins and others) and bio based fungicides. Among synthetic fungicides, Triazoles holds a substantial market share within the global fungicides market in terms of value. Bio-fungicide is gaining market popularity as it plays a vital role in enhancing the soil quality of arable lands by balancing mineral contents of the soil. Geographically, the global fungicide market is segmented into North America, Europe, Asia-Pacific and LAMEA. Europe dominates the global market, both in terms of value and volume. The global fungicide market is further divided by crop type, categorized into, cereals and grains, oilseeds & pulses, fruits & vegetables and others. The use of fungicides is highest in fruits and vegetables
Companies profiled in the report include Monsanto, E.I Du Pont de Numerous and Company, Nufarm Ltd., Adama Agricultural Solutions Ltd., FMC Corporation, Cheminova A/S, Syngenta AG, Bayer AG, BASF SE and DOW Agroscience LLC.
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