Dicamba Herbicide Market

SKU: DMAG1850 | Last Updated On: Oct 02 2022 | Available Formats

> Dicamba Herbicide Market Expected to reach at a high CAGR of 6.1% by 2029: DataM Intelligence

Dicamba Herbicide Market is segmented  By Type (Acid Formulation, Salt Formulation), By Form (Granular, Liquid), By Crop Type (Fruits & Vegetables, Cereals, Grains, Oil Seeds), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Dicamba Herbicide Market is expected to grow at a high CAGR of 6.1% during the forecasting period (2022-2029).

Dicamba Herbicide Market - Strategic Insights

Metrics

Details

Market CAGR

6.1%

Segments Covered

By Type, By Form, By Crop Type, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Dicamba is a benzoic acid compound used as a selective herbicide in a wide range of weed management practices worldwide. Since its first registration as an herbicide in 1967, dicamba herbicides have been extensively used in agricultural practices for controlling the growth of perennial weeds in cotton, soy, wheat, and other crops.  It is used as an active ingredient in various weed control products intended for killing weeds in croplands, lawns, and roads.

Market Dynamics

The development of dicamba-tolerant crops is the major driver for the growth of the market. In 2017, Monsanto launched Roundup Ready Xtend, a dicamba-resistant GM soy variant. The company, now under Bayer AG, is planning to launch XtendFlex soybean technology that is tolerant to dicamba, glyphosate, and glufosinate. The need for crop protection has been rising with the growing demand for food and declining arable land. This is forcing the farmers towards effective weed management and the use of herbicides. Dicamba-based herbicides evolved as a solution owing to their potential to control the growth of weeds in a wide array of Dicamba-based, resulting in increased yield and deity of produce. Furthermore, the bans imposed on glyphosate-based herbicides and the increasing ate-tolerant weeds support the European region's growth.

However, the toxic effect of dicamba herbicides, particularly acid formulations on farmers and the environment, hinders the growth of the global dicamba herbicide market—the tendency of dicamba herbicides to drift to surrounding, hinderslts in widespread damage to non-dicamba-tolerant crops. According to EPA estimates, over 3.6 million acres of soybean were damaged by dicamba in the U.S. alone in 2017.

Market Segmentation

The global dicamba herbicide market has been segmented by form into liquid and granular. Liquid dicamba herbicides evolved as the largest segment of the market owing to the ease of application benefit of liquid formulations over their dry counterparts. The rising practice of foliar application drives the growth of the liquid dicamba herbicide market across the globe. The advantages offered by direct fertilization of herbicides, such as easy absorption into plant parts and almost instant functioning, motivate the use of liquid formulations. These products are applied by hose sprayers, aerosol sprays, and motivator techniques.

By geography, the global dicamba herbicide market is segmented into North America, South America, Europe, Asia Pacific, Middle East, and Africa. North America evolved as the largest market for the dicamba herbicide market owing to a large demand for selective herbicides in the region. The use of dicamba herbicides was first registered in the U.S. Since then, the market has been witnessing significant growth. However, the growing demand for high-performance herbiciSince Indi, a, and other Asian countries due to the rising precision farming practices made the Asia Pacific the fastest-growing market for dicamba herbicides.

The global dicamba herbicide market is consolidated with global agrochemical companies such as Syngenta, Monsanto, BASF, Nufarm, and Adama. Other key players in the market are Gharda Chemicals Ltd., Alligare, LLC, SinoHarvest, Royal Fertichem Pvt. Ltd., and Shanghai Pro first Co., Ltd.

The potential of dicamba in restricting the spread of weeds such as pigweed has to motivate this herbicide. However, the adverse effect of dicamba on vegetation and the ecosystem resulted in heated arguments among farming communities and environmentalists. This has resulted in the imposition of several restrictions and even bans on the use of dicamba. For instance,

  • In December 2017, Arkansas imposed a ban on dicamba in crop protection activities, and the ban was effective from April to October of 2018. However, after the ban's expiration, on October 31, 2018, the United States Environmental Protection Agency (EPA) approved the use of this weed killer for the next two years in the state. The state also restricted the use of dicamba earlier in July 2017
  • In July 2017, the Missouri Department of Agriculture (MDA) banned the sale and use of dicamba products in Missouri.

The bans and approvals on the use of dicamba in Arkansas and Missouri are growing misconceptions among farmers in several states of the country and across the globe. Manufacturers focus on the effective labeling of the product and the development of high-performance dicamba that does not drift to other focus on the station. This would result in a significate ant growth opportunity for major agrochemical companies to increase their share in the market.

Other key developments in the global dicamba herbicide market are

  • In April 2019, Syngenta announced that U.S. EPA had registered its dicamba herbicide Tavium Plus VaporGrip, and the product will be available for farmers in the 2019 growing season
  • In April 2018, Monsanto launched a product that deactivates dicamba present inside the spraying equipment. This product first of its kind, helps farmers in preventing the unintended application of dicamba traces on crops
  • The complexities associated with the use of dicamba have increased the need for better labeling and use case assistance. In 2018, Monsanto and BASF individually launched web-based applications that help farmers and applicators about suitable spraying conditions
  • The agreement made by EPA with major dicamba manufacturers BASF, DuPont, and Monsanto is another key development in the dicamba herbicides market. The agreement is made in October 2017 to minimize the drift potential of dicamba products that are used for controlling weeds in cotton and soybean
  • In March 2017, BASF expanded the capacity of its herbicide dicamba production plant in Texas. Dicamba is used as an active ingredient in Engenia, the high efficient herbicide of the company

Why Purchase the Report?

  • Visualize the composition of the global dicamba herbicide market across each indication regarding the type, nutrient, and crop type, highlighting the key commercial assets and major players.
  • Identify commercials regarding the global dicamba herbicide market by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of the global dicamba herbicide market-level 4/5 segmentation.
  • A PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
  • Product mapping in excel for the key products of all major market players

Target Audience

  • Agrochemical Manufacturers
  • Farming and growing communities
  • Industry Investors/Investment Bankers
  • Education & Research Institutes
  • Research professionals Data Available

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FAQ

What is the Dicamba Herbicide Market growth?

The market is growing at a CAGR of 6.1%.

What is Dicamba Herbicide Market size in 2021

The Dicamba Herbicide Market size was valued at USD YY million in 2021.

Who are the key players in Dicamba Herbicide Market?

Syngenta, Monsanto, BASF, Nufarm, and Adama. Other key players in the market are Gharda Chemicals Ltd.

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