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DICAMBA MARKET ANALYSIS| Coherent Market Insights

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DICAMBA MARKET ANALYSIS| Coherent Market Insights

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  1. Coherent Market Insight Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ Covid-19 Impact Tracker

  2. DICAMBA MARKET ANALYSIS • Dicamba Market, By Application (Agriculture, Lawn & Turf, Others (Forests, Garden & Plants, Non-commercial applications, etc.)), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027 • The global Dicamba market is projected to surpass US$ 700 million by the end of 2027, in terms of revenue, growing at CAGR of 7.8% during the forecast period (2019 to 2027).

  3. Drivers • Growing usage of dicamba in place of glyphosate due to its various beneficial properties is expected to propel the market growth of Dicamba. Glyphosate is widely used herbicides around the globe however due to rising crop resistance to glyphosate is compelling the farmers to switch to dicamba, thereby restricting the use of Glyphosate and in turn fueling the demand for dicamba. This factor is expected to augment the market growth of dicamba over the forecast period.

  4. Increasing the export of dicamba herbicide from China is expected to foster the market growth of dicamba over the forecast period. According to the AgroNews, in August 2018, China's Dicamba TC exports amounted to 3,315 Tons, valued US$ 44.8 million. All the Dicamba products are exported to four countries. Among them, Dicamba 98% TC ranked first in exports which accounted for 96.7% in total value. Therefore, the growing export of dicamba herbicides from China is propelling market growth.

  5. Figure 1. Global Dicamba Market, Revenue Share(%), By Region, 2018

  6. Market Restraints • A concern associated with the drift damage caused due to vaporization and blanket spray of dicamba is projected to hinder the market growth. Drift damage can cause damage to neighboring farms due to spraying of dicamba which affects non-targeted crops and trees as dicamba is very corrosive and toxic in nature. Therefore, the aforementioned factor is expected to restrict the market growth of dicamba over the forecast period.

  7. Pending regulatory approval for new dicamba formulations such as Mon 1661 from Monsanto and Engenia from BASF that used over dicamba-resistant soybean and cotton are still awaiting EPA approval. According to the Coherent Market Insights, Monsanto has also planned to launch new cotton varieties if EPA approves the new dicamba formulations. These pending regulations are major factor expected to hinder the growth of the dicamba market.

  8. Market Opportunities • Growing regulatory approval from USDA and EPA for production and commercialization of dicamba herbicides is expected to provide immense growth opportunity to the market of dicamba. For instance, in March 2015, Nufarm Limited received EPA approval of the new seven-day preplant used for Spitfire. With this approval, Spitfire herbicide became the only dicamba product with an optional seven-day waiting interval between spraying and planting. Therefore, such rising approval for production of dicamba will favor the market growth

  9. Growing investment in the production of dicamba by major players is projected to propel the market growth over the forecast period. For instance, in June 2015, Monsanto Co’s efforts to expand its agrichemical and plans to invest potentially more than US$ 1 billion in a production facility for an alternative herbicide, the weed-killing agent called dicamba. Therefore, growing such focus of manufacture to increase investment is stimulating market growth. 

  10. Figure 2. Global Dicamba Market – Opportunity Analysis

  11. Market Trends/Key Takeaways • Increasing launch of innovation in dicamba herbicides by the manufacturer in order to meet the rising demand around the globe is expected to accelerate market growth. For instance, in June 2017, BASF SE has announced the launch of a new hormonal herbicide Atectra BV (dicambadiglycolamine salt) in Argentina, which is used to control resistant broadleaf weeds. The formulation of the product offer lowest volatility that is six times smaller than the traditional volatility already exists in the market.

  12. The growing focus of manufacturers to increase production capacity of dicamba herbicide is projected to fuel the market growth over the forecast period. For instance, in March 2017, BASF SE has opened its expanded production facility for dicamba in Beaumont, Texas. The expansion supports the company’s strategy to increase the production volumes of dicamba, ensuring growers have access to the latest technologies for better weed management programs.

  13. Figure 3. Global Dicamba Market, Revenue Share (%), By Derivative, in 2018

  14. Competitive Section • Key players active in the global dicamba market are BASF SE, Monsanto Company, E I du Pont de Nemours & Company, Bayer AG, The Dow Chemical Company, Syngenta AG, and Nufarm Limited • Few Recent Developments • Monsanto Company • In January 2015, the U.S. Department of Agriculture (USDA) approved planting and sale of the company’s genetically-engineered dicamba-tolerant soybeans and cotton • In June 2015, the company announced an investment of over US$ 1 billion in its new dicamba herbicide production site at Louisiana

  15. REQUEST SAMPLE • DOWNLOAD PDF • REQUEST CUSTOMIZATION • TALK TO ANALYST • REFERENCE https://www.coherentmarketinsights.com/market-insight/dicamba-market-3452

  16. About Us: Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

  17. Contact Us: Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com

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