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Acaricides Market: Global Industry Analysis And Opportunity Valuation And Forecast To 2019
Chemicals that are used to kill ticks and mites are known as acaricides. They help in increasing the productivity by keeping animals and crops healthy and disease-free. Acaricides help crops grow healthy and also increase their productivity. Cattle, when treated with acaricides are less susceptible to tick-borne diseases and there is an increase in the milk and other product yield.
Factors that act as driving forces for this market are the increase in productivity, development in the crop protection industry, and the growing demand of crops and animal products across the world. The high cost of raw materials and the strict regulatory norms by the government pose as hindrances for Acaricides Market.
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To capitalize on the growth trend in this market, several leading companies are taking to new product launches as a growth strategy. The growing demand for acaricides market is compelling global players to focus more on research & development and offer innovative products in the market. The leading players of this industry have also been profiled with their recent developments and other strategic industry activities. These include BASF SE (Germany), Dow The Chemical Company (U.S.), Bayer AG (Germany), Merck &Co. Ltd (U.S.), and Syngenta (Japan).
The global acaricides market is estimated to be valued at $275.1 million by 2019, at a projected CAGR of 5.2% from 2014.
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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