Boscalid Market Overview
Boscalid Market size is expected to be valued at US$782 million by the end of the year 2027 and is set to grow at a CAGR of 4.6% during the forecast period from 2022-2027. Boscalid is an anilide fungicide, a substance that is used in destroying fungal pests. Boscalid is a new range of fungicide that contains xenobiotic, a substance that is not naturally found in ecosystem but helps in detoxification of chemical substances. Boscalid also contains pyridinecarboxamide, a type of picolinic acid that helps in providing anti-proliferative effects. Boscalid is widely used in fungicides to control a range of plant pathogens in horticultural and broadacre crops. The increase in the number of agricultural activities across the world is majorly driving the boscalid market.
Amid the Covid-19 pandemic, the boscalid market was hugely affected owing to the various legal and economic restrictions laid by governments across the world. Due to the global pandemic, covid-19, almost all major countries and cities went into total shutdown and many restrictions were imposed. Any movements including movement of people and goods were banned fearing the spread of the corona virus. This hugely impacted the boscalid market, as the sales crashed down due to the exponential decrease in demand. The situation is however set to improve by the year ending 2021.
Boscalid Market Segment Analysis – By Formulations
Wettable granule segment held the largest share in the boscalid market in the year 2021. Wettable granule usually contains active ingredients and a mixture of boscalid and pyraclostrobin. These wettable granules are majorly used on beans, stone fruit, cucurbit vegetables, berries, grapes, bulb vegetables, canola, lettuce, edible peas, carrots, fruiting vegetables, peanuts, pistachios, potatoes, tree nuts, strawberries, Brassica vegetables (subgroups 5A and 5B), mint, certain root vegetables, and sunflower seeds. Application of wettable granule through a broadcast spray at a seasonal rate will help in increasing the efficiency of the yield and production.
Boscalid Market Segment Analysis – By Application
Agricultural segment held the largest share in the boscalid market in the year 2021, with a growing CAGR of 5.9% during the forecast period 2022-2027. Boscalid is an anilide fungicide that is used in treatment against fungus that causes infestation to plants and crops. Fungicides help in killing the growth of the fungus and eradicating the spores of the fungus. Anilide fungicide helps in controlling fungi that damage plants including mildews, blights and rusts. The increase in agricultural activities across the globe is majorly increasing the demand for pesticides such as fungicides, herbicides, bactericides and others, which is further driving the demand for boscalid market.
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Boscalid Market Segment Analysis – By Geography
Asia-Pacific region held the largest share of 37% in the boscalid market in the year 2021. The increase in the population in countries like China, India and Indonesia coupled with the increase in the demand for food is increasing the demand for agricultural activities. According to worldometer, the population of China was highest in the world during the year 2020 at an increase of 0.39% from the previous year 2019. India is the second largest populated country in the year 2020, with an increase of 0.99% from the previous year 2019. The population of Indonesia increased by 1.07%, standing as the fourth largest populated country in the world. According to Indian Brand Equity Foundation, agriculture is the primary source of livelihood for about 58% of India’s livelihood. China implemented The Soil Pollution Prevention and Control Law, which came into force from the year 2019. This is further driving the demand for boscalid market in the region.
Boscalid Market Drivers
Enhanced properties of boscalid
The enhanced properties of boscalid such as low toxicity is majorly driving the boscalid market. The low toxicity of boscalid helps in retaining the vitamins and nutrients of the plant, as much as it helps in eradicating the fungus. Boscalid is an anilide fungicide and is very safe for plants and also covers a very wide range of disease spectrum. Boscalid controls a wide range of fungal pathogens in various range of crops such as specialty crops and other plants such as turf and ornamentals. Boscalid has a low aqueous solubility and is not volatile. Boscalid can be persistent in both aquatic and soil systems, depending on the condition. This is increasing the demand for boscalid market.
Growth in the agricultural industry
The growing agriculture industry across the globe is one of the significant factors driving the demand for boscalid market. According to US department of agriculture, the agriculture and food related industries in USA contributed about 5.2% share of the total GDP during the year 2020. According to National statistics of UK, the production of seeds increased by 17% in the year 2020 and the production of plant protection products increased by 10%. According to the total value of farm production in Japan was US$84,162 million during the year 2019, an increase of 2.63% fromUS$81,999 during the year 2018. This will further increase the demand for boscalid market.
Boscalid Market Challenges
Performance over time
Since boscalis is a combination anilide fungicide, it consists of a combination of components. This mixture sometimes could cause adverse reactions to the crops and soil. This might further affect the health and quality of the crop or plant. Therefore, this can cause side effects to humans consuming the crop. Therefore, it is not a very preferred type of fungicide, and is rarely used in particular type of crops. Therefore, this is restricting the growth of the boscalid market.
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Boscalid Market Industry Outlook
Acquisitions and mergers, production expansion, facility expansion collaborations, partnerships, investments, are some of the key strategies adopted by players in the Boscalid Market. Major players in the Boscalid Market include:
Wuxi City Jia Bao Pharmaceutical
AnHui HaiShun Chemical
Hangzhou Weiyuan Chemical
Junkai (Tianjin) Chemical
Kaimei Taike (Tianjin) Chemical Technology
Asia-Pacific market held the largest share in the boscalid market owing to the increase in demand for anilide fungicide from the agriculture industry owing to the increase in population coupled with the increase in demand for food.
The various advantages provided by boscalid such as low toxicity is also driving the boscalid market.
The growing agricultural industry is also one of the significant factors driving the boscalid market.
Amid the Covid-19 pandemic, the boscalid market was majorly affected in terms of sales and distribution during the global pandemic. The situation is however set to improve by the end of the year 2021.
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