Dicamba Herbicide Market Size, Share, Opportunities, And Trends By Form (Liquid, Dry), By Application (Cereals & Seeds, Oil Seeds & Pulses, Pastures & Forage Crops), And By Geography - Forecasts From 2023 To 2028
- Published : May 2023
- Report Code : KSI061615399
- Pages : 140
Dicamba herbicide is a broad-spectrum selective herbicide known for its effectiveness in controlling broadleaf weeds in crops such as soybeans, corn, cotton, and cereals. It is a member of the auxin family of herbicides, which means that it works by increasing the growth of plants. It is important to understand that dicamba is a volatile herbicide, which means it can easily evaporate and drift away from its intended target. Commercial applications of dicamba herbicide include weed control in turf areas and food crops. It is also used to manage cacti, legumes, and bracken in pastures. Dicamba can be used for weed management on non-agriculture lands such as fence rows and highways.
Factors such as the rising need for effective weed management solutions, increasing adoption of genetically modified herbicide-tolerant crops, and the expansion of agriculture and horticulture sectors globally are driving the growth of the dicamba herbicide market during the projection period. Moreover, the rising use of modern farming practices such as precision farming and sustainable agriculture will increase the use of herbicides globally.
Dicamba has been the subject of regulatory scrutiny in recent years, due to concerns about its potential to drift off-target and damage crops that are not tolerant to the herbicide. In an effort to reduce the danger of off-target movement, the U.S. Environmental Protection Agency set new restrictions on the use of dicamba in 2020. These limitations have increased the cost and difficulty of using dicamba for farmers and have created some market uncertainty. Global market growth is also constrained by factors such as herbicide resistance and negative public perceptions.
During the anticipation period, the growing demand for effective weed management solutions will support the growth of the global dicamba herbicide market.
Significant population growth has led to a huge demand for high-yielding, nutritive food crops and grains to fulfill the growing food demand. This has led to a growing demand for chemically treated seeds to protect them from any pest attacks as a huge number of crops are lost due to pest attacks. According to FAO estimates published in 2019 shows that, between 20 and 40 percent of the world's crop yield is lost each year to pests. Dicamba herbicide has shown resistance towards various insects, pests, and weeds leading to lower crop loss due to pest attacks.
Weeds significantly threaten crop productivity by competing for resources and reducing yields. Dicamba herbicides offer broad-spectrum control of various troublesome broadleaf weeds, making them an attractive option for farmers seeking effective weed management solutions. The demand for dicamba herbicides is driven by the need to maintain weed-free fields and maximize crop yields. Studies conducted by the Indian Agriculture Statistics Research Institute shows that the weed decreases the crop yield by 45 percent.
Ongoing research and development efforts have resulted in advancements in dicamba herbicide formulations, such as improved stability, reduced volatility, and enhanced efficacy. These advancements have addressed concerns regarding off-target movement and potential crop damage, leading to increased confidence and the adoption of dicamba herbicides by farmers.
During the forecast period, North America is anticipated to hold a significant share of the global dicamba herbicide market.
North American region will experience rapid expansion throughout the projection period due to the high quality and better yielding crops. This region's market is also expanding as a result of the growing demand for effective weed management solutions. According to the US Geological Survey, the use of dicamba in United States agriculture rose to 14 million kgs in 2019. Moreover, the presence of a well-established agriculture industry and increasing investment are also spurring regional demand for dicamba herbicide. In addition, the prevalence of key market players such as BASF SE, Bayer CropScience AG, Monsanto Company, and others also spur the growth of dicamba herbicide in this region.
Market Key Developments
- In January 2023, American agriculture company Albaugh announced that the U.S. Environmental Protection Agency has authorized their herbicides Dicamba HD 5 and Dicamba DMA Salt 5. Both products are concentrated water-soluble herbicide formulations for use in crop and non-crop applications to control and suppress a wide range of weed management issues.
- In May 2023, two new herbicides, Facet and Duvelon, were introduced by BASF to help Indian rice and tea growers protect their crops against weeds. The formulation of Duvelon is optimized for use in tea plantations, whereas Facet is designed for rice fields. These recent developments give Indian farmers a dependable weed control option.
- By Form
- By Application
- Cereals & Seeds
- Oil Seeds & Pulses
- Pastures & Forage Crops
- By Geography
- North America
- United States
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. DICAMBA HERBICIDE MARKET, BY FORM
6. DICAMBA HERBICIDE MARKET, BY APPLICATION
6.2. Cereals & Seeds
6.3. Oil Seeds & Pulses
6.4. Pastures & Forage Crops
7. DICAMBA HERBICIDE MARKET, BY GEOGRAPHY
7.2. North America
7.2.1. United States
7.3. South America
7.4.1. United Kingdom
7.5. The Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.4. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. Bayer AG (The Monsanto Company)
9.2. Nufarm Ltd
9.3. Albaugh LLC
9.4. Alligare, LLC
9.5. ADAMA Ltd
9.6. Drexel Chemical Co.
9.7. Gharda Chemicals Ltd.
9.8. Sinochem Group Co, Ltd
Bayer AG (The Monsanto Company)
Drexel Chemical Co.
Gharda Chemicals Ltd.
Sinochem Group Co, Ltd
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