A
new research report by Transparency Market Research offers a
comprehensive evaluation of the global azoxystrobin
market.
The study, titled “Azoxystrobin
Market - Global Industry Analysis, Size, Share, Trends and Forecast
2014 - 2020”,
is available for sale on the firm’s website.
Fungicides are
biocidal chemical compounds which are primarily used to inhibit the
growthof fungi. Fungicides are one of the major chemicals used in
agriculture to counter the fungal infections. Fungicides can be
majorly classified in three classes based on the mode of action as
contact, systemic and translaminar fungicides. Azoxystrobin belongs
to the class of systemic fungicides as it is taken up through the
xylem vessels. Azoxystrobin is typically used in fruits and
vegetables for preventing the fungal infection. The growth in
agriculture industry across the globe is anticipated to drive the
market for azoxystrobin in the next six years. The demand for
azoxystrobin and in general fungicide is expected to remain moderate
in developed regions owing to the several restrictions imposed on the
fungicides. On the other hand, developing economies across Asia
Pacific region such as India and China are expected to have rising
demand for fungicides in the next few years.
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Azoxystrobin belongs
to the chemical family of Strobilurins. They are based on naturally
occurring anti-fungal compounds. Azoxystrobin is one of the most
recognized fungicides as it has a broad spectrum of anti-fungal
properties against diseases including oomycota (infecting grapes),
deuteromycota (infecting rice) and ascomycota (affecting numerous
field crops and vegetables).
Azoxystrobin is
typically sold in the water formulation or as a suspension
concentrate in numerous concentrations. Azoxystrobin in general
applied as a foliar spray as azoxystrobin has an extensive residual
effect. Azoxystrobin acts as a systemic fungicide and has a curative,
translaminar and preventative mode of action. The effective mode of
action of azoxystrobin makes it essential fungicide in field crops,
grapes and banana. Moreover, the toxicity level of azoxystrobin being
moderate for mammals, bees, insects, birds and earthworms as
azoxystrobin is easily broken in sub-components once applied through
soil. Azoxystrobin is widely used in farming, particularly in wheat
farming as it provides strong protection to wheat crops against
several types of diseases such as wheat septoria, septoria leaf spot,
wheat leaf rust, rye leaf rust and powdery mildew. The wide range of
fungicidal properties of azoxystrobin is expected to act as a major
driver for azoxystrobin market in agriculture industry in the next
six years. However, the aquatic toxicity of azoxystrobin is
considerably high, posing a great threat to aquatic animals. This
factor is anticipated to act as a potential restraint to azoxystrobin
market in the next few years.
The developing
economies across Asia Pacific region are anticipated to be the
fastest growing market for azoxystrobin in the next few years. The
main reason for this is the rising demand for fungicides to control
the growth of fungi and related problems associated with spread of
infection through it. Moreover, the demand for azoxystrobin is
expected to remain high in the countries such as China and India due
to growing need for better yield for fulfilling the increasing food
demand from the constantly escalating population. In addition to
developing nations, developed economies are concentrating on
attaining highest agriculture output from the available cultivable
land.
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Presently,
azoxystrobin is approved for use on a wide variety of crops in the
UK, including barley, asparagus, broccoli, onions, carrots,
cauliflowers, cabbages, potatoes, rye, triticale, vining peas and
wheat. Additionally as azoxystrobin is effective against numerous
classes of fungi, makes azoxystrobin an economical solution for
treatment of various types of fungi. All these factors are
creating a positive prospect for the global fungicide industry in
general. This reason is expected to have a positive impact on
azoxystrobin market thus, boosting the demand for azoxystrobin
fungicide across the globe. Some of the major manufacturers of
azoxystrobin fungicide are Syngenta and Cheminova, Inc. USA.
This research
report analyzes this market on the basis of its market segments,
major geographies, and current market trends.
Geographies
analyzed under this research report include
-
North America
-
Asia Pacific
-
Europe
-
Rest of the World
-
Market growth drivers
-
Factors limiting market growth
-
Current market trends
-
Market structure
-
Market projections for upcoming years
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