Key Drivers and Restraints of Tebuconazole Market
- Demand for fruits and vegetables has been increasing. Fungicide are used to prevent infections in fruits and vegetables. This is boosting the tebuconazole market. Advancements in technologies in agricultural and pest management industries is also boosting the market.
- There is a significant loss of crops after the harvesting period. Large numbers of crops are damaged after harvesting due to fungal and bacterial infections. Tebuconazole is spread in the form of spray over fruits and vegetables to prevent the loss.
- Lack of awareness among farmers about fungicides is a major factor restraining the global market. Also, excess usage of fungicides leads to toxicity of the soil. This is likely to adversely affect human bodies, as it can cause irritation to skin and eyes. Inhalation of dust from these pesticides may cause throat irritation, sneezing, and coughing. This is anticipated to hamper the global tebuconazole market.
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Key Manufacturers Operating in Tebuconazole Market
- Shanghai Shengnong Pesticide Co., Ltd.
- Dupont Crop Protection
- Henkel Ag Co. Kgaa
- Huntsman Corporation
- Kao Corporation
- Sumitomo Chemical Corporation.
- Lion Corporation
- PG Chemicals
- Stephan Company
Tebuconazole Market: Application Segment
- In terms of application, the global market can be segmented into crop fungicide and seed treatment
- The crop fungicide segment is expected to expand at a rapid pace in the market due to the rise in demand for vegetables, food crops, and cereals across the globe. Increase in usage of crop fungicides in ornamental plants and turfs is also boosting the segment.
- Additionally, agricultural techniques are developing at a rapid pace. Therefore, the usage of seed treatments is rising rapidly in the agriculture industry.
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Asia Pacific to Hold Leading Share of Tebuconazole Market
- In terms of region, the global tebuconazole market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East Africa
- Asia Pacific accounts for large share of the global market, as tebuconazole and other fungicides are manufactured on a large scale in China, which is the world's largest producer
- Asia Pacific is projected to be the fastest growing region of the global tebuconazole market during the forecast period. India, Japan, and China are estimated to create major opportunities for manufacturers operating in the tebuconazole market.
Tebuconazole: Research Scope
Tebuconazole Market, by Application
- Crop Fungicide
- Seed Treatment
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COVID-19 Impact on Tebuconazole Market
- The COVID-19 pandemic has impacted a large number of countries across the globe. Various measures introduced to deal with the pandemic such as lockdowns, decrease in trade activities, and closure of various factories and workplaces in several countries could help save lives. However, they carry wide-ranging economic effects that could induce an economic contagion.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic.
- Lockdowns across the globe disrupted the supply chain, posing challenges for manufacturers operating in the tebuconazole market. Intense competition, pricing issues, and shifting consumer preferences is likely to continue to lead to downward pressure on vendors’ profit margins.
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