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Acaricides Market Competitive Landscape And Market Growth Factors 2019
The global acaricides market is estimated to be valued at $275.1 million by 2019, at a projected CAGR of 5.2% from 2014.
Acaricides are chemicals that are manufactured and used for controlling the spread of arthropod pests. These pests, if allowed to spread, cause huge losses to agriculture and also infect various animals in the animal husbandry industry. There are numbers of acaricides available, which have different concentrations of various chemicals like chlorine, phosphorus, zinc, and tin. Acaricides have toxic effects too, due to which natural products like neem, clove, and spoiled corns, are also being used for the production of acaricides. These natural acaricides tend to be less toxic.
The Asia-Pacific region is estimated to be the largest consumer of acaricides in the world, followed by Europe. China is estimated as the largest market in the Asia-Pacific, having captured around 44% of the total market in the region, in 2013.
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Source: MarketsandMarkets Analysis
The total market for acaricides was worth $195.8 million in 2013 and is projected to be valued at $275.1 million by 2019, growing at a CAGR of 5.2% from 2014. This market is growing steadily due to an increase in the usage of crop protection chemicals to control the spread of ticks and mite-borne diseases. The demand-driving factors of this market are developments in the crop protection industry and the rise in demand for meat and dairy products. The restraining factors are the regulatory restrictions in some countries and the rising cost of acaricides.
Key participants in the acaricides market are BASF SE (Germany), Arysta LifeScience (Japan), Bayer AG (Germany), DuPont (U.S.), and FMC Corporation (U.S.). The acaricides market is witnessing rapid development in the areas of new product launches, with a focus on increasing the availability of various acaricides in the market and also on increasing their global market share.
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