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CHEMICALS AND ADVANCED MATERIALS

Thifluzamide Market Segmentation by Type (24% SC, 95% TC, 98% TC, and Other); by Application (Seed Treatment, and Fungicide); by Crop (Wheat, Maize, Rice, Turf, Cotton, and Others); and by Distribution Channel (Compost Seed Stores, Retail Shops, Online, and Others) – Global Demand Analysis & Opportunity Outlook 2031

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IN THE NEWS

  • June 11, 2018: The government of Zimbabwe to rescue the cotton sector by launching a new type of cotton seeds. The cotton sector was poorly influenced by the high production cost in Zimbabwe.

  • June 6, 2018: Chinese fertilizer industry faces significant issues along with new development opportunities and other serious problems such as oversupply and cutting excess capacity of the fertilizers, and to solve this issue, a new ammonia synthesis technology has been launched by the overseas companies in China.

Global Thifluzamide Market Highlights Over 2022 – 2031

The global thifluzamide market is estimated to garner notable revenue by growing at a modest CAGR over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the rising demand in the agricultural sector, to prevent crops from severe diseases, such as sheath blight disease. According to the data provided by Food and Agriculture Organization, it is represented that 20 to 40% of crops are lost due to diseases each year globally meanwhile crop diseases are projected to impact the global economy by USD 220 billion annually. Furthermore, the demand for food is increasing exponentially owing to the significant growth in the global population over the recent decades generating a noteworthy prevalence of hunger. Moreover, the UN published a report demonstrating the data that in 2020, 720 to 811 million people encountered hunger, while 660 million people are anticipated to face hunger in 2030. Hence, the need for food production on a larger scale requires massive cultivation, and this process leads the high utilization of thifluzamide resulting in the noteworthy growth of the market over the forecast period.

Thifluzamide Market

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The market is bifurcated by application into seed treatment, and fungicide, out of which, the fungicide segment is anticipated to hold the notable share in the global thifluzamide market during the forecast period, on account of the growing cases of fungal diseases in crops. These diseases reduces both quality and quantity of the crop and it has become the prime necessity for the agriculture sector to provide requisite methods to farmers to prevent crops from diseases. It is observed that about 80% of diseases in plants are caused by fungi.

Major Macro-Economic Indicators Impacting the Market Growth

Chemicals (% of Value Added in Manufacturing) – 2016-2018

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, the Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in the future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, which accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. The easy availability of low-cost raw materials & labor, as well as government subsidies and relaxed environmental norms, have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for investment in businesses in Asia Pacific countries in the upcoming years.

Global Thifluzamide Market Regional Synopsis

Regionally, the global thifluzamide market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing population and higher annual food consumption. In the Asia Pacific region, China and India are the leading countries producing the rice. In 2019, china alone produced approximately 200 million tons of rise. The Asia Pacific region is projected to be the largest grain cultivator amongst other respective regions, which is estimated to add to the market growth over the forecast period.

Furthermore, the global thifluzamide market is projected to grow in North America region during the forecast period owing to the availability of the largest farms for cultivation. In a report published by United States Department of Agriculture in 2019, the 2,023,400 farms were located in the US, meanwhile, the total size of farms in acres was evaluated to be 897,400,000. These parameters are anticipated to influence the global thifluzamide market positively over the forecast period.

Thifluzamide Market Share

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The global thifluzamide market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook

  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook

  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global thifluzamide market includes the following segments:

By Type

  • 24% SC
  • 95% TC
  • 98% TC
  • Others

By Application

  • Seed Treatment
  • Fungicide

By Crop

  • Wheat
  • Maize
  • Rice
  • Turf
  • Cotton
  • Others

By Distribution Channel

  • Compost Seed Stores
  • Retail Shops
  • Online
  • Others

Growth Drivers

  • Rising Need to Improve Crop Production and Quality
  • Higher Utilization in Seed and Foliar Treatment
  • Growing Population with Higher Food Demand

Challenges

  • Rising Awareness Towards Bio-Based Agrochemicals Owing to Increasing Environmental Concern

Top Featured Companies Dominating the Market

  • Shenzhen Horizon Industry Co., Ltd
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • Nissan Chemical Corporation
  • Jiangxi Tiansheng New Materials Co., Ltd
  • Shanghai Xinglu Chemical Technology Co., Ltd
  • Wingfield Chemical Industry Co., LTD
  • Advance Agro Chemicals Shanghai Limited
  • Super Bio Tech Marketing Company
  • OAT Agrio Co., Ltd.
  • Nihon Nohyaku Co., Ltd
  • Agrowallied Ventures Pvt. Ltd.

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