“The North America Acaricides Market poised to reach US$ XX Mn by 2023 with a significant CAGR over seven years forecast period 2019-2025 owing to increase in the prevalence of crop diseases and pests in agriculture farming”
Precision Business Insights (PBI) in its report titled “North America Acaricides Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over six years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The North America acaricides market was valued at US$ XX Mn in 2018 and projected to reach US$ XX Mn by 2025 owing to increase in the agriculture production coupled with rise in awareness about the usage of acaricides in U.S. and Canada. Moreover, rise in R&D expenditure for the launch of newer products, rise in preference towards the organic agriculture farming, and grow in number of livestock industries are anticipated to propel the North America acaricides market. However, stringent regulations for the use of agrochemicals, alternative products available for acaricides, and adverse effects associated with acaricides due to its toxicity are hinder the growth of North America acaricides market over forecast years.
North America acaricides market segmented on the basis of product type, application, mode of application, and country
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Organophosphates accounted for higher revenue share
Based on product type North America acaricides market segmented into Organophosphates, Organochlorines, Carbamates, Pyrethroids, and others. Organophosphates market accounted for larger revenue share in 2018 and projected to dominate over the forecast period owing to high content of phosphorus in the compounds that effectively work against the arachnids. Moreover, Organochlorines projected to grow at a significant growth rate owing to launch of newer products into the market.
U.S. leads the North America Acaricides market
PBI’s North America acaricides market report analyses the market in different countries such as United States and Canada. According to country analysis, U.S. accounted for larger revenue share through 2014-2018 and the same trend is projected to follow over 2019-2025 owing to increase in the agriculture production in the country. Moreover, rise in R&D for the development of newer products, grow in number of livestock industries coupled with grow in demand for healthy meat and other food products are dominate the market over the forecast years.
Innovation of newer products, intellectual property portfolio, and strategic alliances are the key strategies adopted by market players
North America acaricides market further reveals that the key players increasingly adopting strategies such as innovation of newer products and high number of patent filings, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, in March 2014, US EPA proposed to register BASF acaricides based on Otsuka Chemical’s Nealta and Sultan.
Key player’s profiles in the report are BASF SE (Germany), Bayer AG (Germany), Syngenta AG (Switzerland), ADAMA agricultural solution ltd. (Israel), FMC Corporation (U.S.), E.I. DuPont De Nemours & Company (U.S.), The Dow Chemical Company (U.S.), Merck & Co., Inc. (U.S.)
Detailed Segmentation
By Product Type
o Organophosphates
o Organochlorines
o Carbamates
o Pyrethroids
o Others
By Application
o Animal husbandry
o Agriculture
o Industrial
o Others
By Product Type
o Insecticide
o Fungicide
o Herbicide
o Others
By Mode of Application
o Spray
o Dipping Vat
o Hand Dressing
o Others
Geography
o North America
• U.S
• Canada
For more information: https://precisionbusinessinsights.com/market-reports/north-america-acaricides-market/