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Bifenazate market Is Expected To Boost The Global market At A Cagr Of Around 3.7% : Chemtura Corporation,

Bifenazate Market

Bifenazate is widely used in the agricultural and horticultural sector as a contact, non-systemic, residual, and selective insecticide for the control of mites.

SEATTLE, WA, UNITED STATES , January 13, 2022 / -- Market Overview:

Bifenazate is widely used in the agricultural and horticultural sector as a contact, non-systemic, residual, and selective insecticide for the control of mites. It has a low water solubility, volatile, and would not be expected to leach to groundwater. It is a carboxylic ester obtained by formal condensation of 2-(4-methoxy[1,1'-biphenyl]-3-yl) hydrazine-carboxylic acid with 2-propanol. Bifenazate effectively control pests, such as pecan leaf mites, spider mites, Pacific spider mites, brown almond mite, European red mites, and six-spotted spider mite. Bifenazate offers control over the growth of mites by direct or indirect contact with foliar residues. It can be applied in the form of spray by mixing it with water. Bifenazate is used in a wide range of applications as miticide. It is essential for an Integrated Pest Management (IPM).

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Competitive Landscape:

Major players operating in the global bifenazate market are BASF Corporation, Certis USA L.L.C., Chemtura Corporation, Olympic Horticultural Products, Inc., and The Dow Chemical Company, among others.

Key Market Drivers:

Increasing demand for bifenazate to control mites around the world is expected to augment the growth of the bifenazate market during the forecast period. Mites may cause huge losses to farmers, and thus, farmers require multiple products to tackle mites. For instance, in October 2019, Insecticides (India) Limited launched 'Kunoichi,' a miticide, invented and developed by Japan-based Nissan Chemical Corporation. The molecule is also registered in other parts of the world, such as Japan, South Korea, Colombia, and Ecuador.

Moreover, increasing use of miticide, to treat ornamental crops and tomatoes cultured in shade houses, nurseries, and greenhouse, is expected to aid in the growth of the bifenazate market. For instance, in February 2021, Nufarm Americas announced the EPA registration of Engulf GHN, a new miticide labeled for greenhouse and shade house ornamental crops, greenhouse tomatoes, and Christmas tree and conifer plantations and nurseries.

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COVID-19 Impact Analysis:

The outbreak of COVID-19 has severely affected the growth of almost every sector. As the governments of several countries have imposed stringent lockdowns to curb the spread of the virus. China is a major producer and supplier of raw materials required for the production of pesticides. The pandemic has affected the supply of raw materials. This led to a decline in the production of bifenazate, which in turn is expected to hamper the bifenazate market growth. However, agriculture was the only sector to clock a positive growth during the first wave of the pandemic. This in turn is expected to boost the growth of the market.

Key Takeaways:

The bifenazate market is expected to exhibit a CAGR of 3.7% during the forecast period owing to the stringent regulations and prohibitions on pesticide use in some parts of world. For instance, in its regulatory pesticide residue monitoring program, the U.S. Food and Drug Administration (FDA) tests a broad range of imported and domestic commodities for approximately 700 pesticide residues.

Among regions, Asia Pacific is expected to witness robust growth in the bifenazate market due to the rapid growth of the agriculture industry and increase in demand for insecticide and miticide. According to the India Brand Equity Foundation (IBEF), Agricultural export from India reached US$ 38.54 billion in FY19 and US$ 35.09 billion in FY20, and principal agricultural commodities export from India reached US$ 32.12 billion between April 2020 - January 2021.

North America is expected to witness significant growth in the bifenazate market, owing to the increasing demand for bifenazate to control of mites. For instance, in April 2021, Rotam North America Inc. announced the launch of Abacus V6, an insecticide and miticide to fight against mites and a wide range of other destructive insects.

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Important Features that are under Offering and Key Highlights of the Reports:

– Potential and niche segments/regions exhibiting promising growth.
– Detailed overview of Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application, etc.
– Historical, current, and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Market
– Strategies of key players and product offerings

𝐓𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭'𝐬 𝐬𝐭𝐮𝐝𝐲 𝐨𝐛𝐣𝐞𝐜𝐭𝐢𝐯𝐞𝐬 𝐚𝐫𝐞 𝐚𝐬 𝐟𝐨𝐥𝐥𝐨𝐰𝐬:

✤ SWOT Analysis is used to define, assess, and analyse market competition by focusing on the world's major manufacturers. The market is defined, described, and forecasted by type, application, and region.

✤ Examine the potential and advantages of the global and major regional markets, as well as the opportunities and challenges, as well as the constraints and risks.

✤ Determine whether market growth is being driven or hampered by trends and factors.

✤ Stakeholders will be able to assess market potential by identifying high-growth categories.

✤ Conduct a strategic analysis of each submarket's growth trends and contribution to the market.

✤ Competitive developments in the market include expansions, agreements, new product launches, and acquisitions.

✤ To develop a strategic profile of the major players and conduct a thorough analysis of their growth strategies.

𝐊𝐞𝐲 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐀𝐝𝐝𝐫𝐞𝐬𝐬𝐞𝐝:

✔ In the next seven years, what innovative technology trends should we expect?
✔ Which sub-segment do you believe will grow the fastest over the next few years?
✔ By 2028, which region is predicted to have the largest market share?
✔ What organic and inorganic strategies are businesses employing to gain market share?

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