Global Opportunity Analysis and Industry Forecast for the Dicamba Market 2019-2027

Dicamba Market

 Dicamba Market

Organochloride and a benzoic acid derivative make up the chemical compound dicamba. It is a herbicide used to manage perennial weed development in agricultural areas. It doesn't pose any unusual handling risks, but when inhaled or consumed by people, it can be somewhat poisonous. It can be used for many different types of crops, including grains and cereals, pulses and oil seeds, pastures, and fodder seeds.

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).

Due to the rising need for safe food and expanding public knowledge of crop protection, the market for dicamba herbicides has dramatically increased in the agricultural industry. The desire for dicamba to boost maximum agricultural yields along with significant tax breaks on exports has also been sparked by the expansion in world population. Additionally, the herbicide dicamba has been thought of as a substitute for glyphosate, which is anticipated to drive the market throughout the projection period. Due to the increased use of hose sprayers, air sprayers, and aerosol sprays in agricultural processes, liquid dicamba herbicide formulations have seen the highest demand in recent years. The growth of the market has been hampered by strict regulations and the volatility of dicamba herbicides. R&D and modern farming methods, however, are anticipated to increase the anticipated market demand for dicamba.

Recent years have been a modest increase in the dicamba market worldwide. Although dicamba is one of the more established contemporary herbicides, the Environmental Protection Agency (EPA) in the United States has recently begun to investigate it. Dicabam placed towards the bottom of a list of frequently used pesticides compiled by the EPA in 2012, primarily due to its propensity to wander onto nearby farms. Additionally, the EPA and major dicamba producers recently reached a settlement to reduce the likelihood that dicamba formulations may drift and harm nearby crops. The dicamba market is dominated by North America, followed by Europe. The market in Asia-Pacific is anticipated to be driven by the global demand for dicamba herbicides used in agricultural applications along with its export, particularly from China.

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