Asia-Pacific Fungicides Market was worth USD 3.77 billion in
2016 and is expected to reach USD 5.04 billion by 2021 with a CAGR of 6.0 %.
Fungicides are a type of pesticide used to kill the fungi or
fungi spores. Fungicides has real use in the agricultural sector for crop
protection. It is used to prevent the damage caused by fungi to crops.
Fungicides helps in improving crop yield by eradicating the threat of fungi.
Additionally, it is also used to cure the contagious diseases in animals. The
use of fungicides varies depending on the type of crop.
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Factors such as rising need for food security for the
increasing population, increasing loss of crop due to fungal disease,
increasing investment in research and development, shrinking arable land, change
in farming practices are driving the market. However, factors such as stringent
regulatory conditions differs in countries, increase in environmental pollution
and shift to genetically modified seeds are hampering the growth of the
fungicides market.
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The Asia-Pacific Fungicides Market is segmented based on
Type, Crop Type, Form and Mode of Action. Based on Type, Market is segmented
into synthetic and bio fungicides. The synthetic fungicides are further
segmented into Benzimidazoles, Triazoles, Chloronitriles, Phenylamides,
Strobilurins, Dithiocarbamates and others. Based on Crop type, Market is
segmented into Fruits and vegetables, Oilseeds, Pulses, Cereals and Grains and
others. Based on Form, the market is segmented into Liquid, Wettable powder,
water dispersable powder. Based on mode of application, the market is segmented
into Soil treatment, post-harvest, foliar spray, seed treatment and others.
Cereals and grains has the largest share in the market and is expected to show
highest CAGR during the forecast period.
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Based on Geography, this market is further segmented in to
China, India, Australia, South Korea and Japan. India and China holds the
maximum share in the Asia-Pacific Market because of its large population,
growing agricultural sector.
Major players in the Asia-Pacific fungicides market include
BASF SE, Dow AgroSciences LLC, Sumitomo Chemical Co., Ltd, Bayer CropScience
AG, Syngenta AG, Nippon Soda Co. Ltd, Cheminova A/S, and Nufarm Ltd.
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