The triazole fungicides market size is expected to see steady growth in the next few years. It will grow to $4.92 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to climate change impact on diseases, expansion of precision agriculture, globalization of agriculture, rising focus on sustainable agriculture, development of new fungicide formulations. Major trends in the forecast period include technological advancements in formulations, management of fungal resistance, globalization of agriculture and trade, focus on disease forecasting and early intervention, integration into integrated pest management (ipm) programs, regulatory support for safe pesticide use, r&d for novel triazole formulations.
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Segmentation & Regional Insights
The triazole fungicides market covered in this report is segmented –
1) By Product Type: Epoxiconazole, Triadimenol, Propiconazole, Prothioconazole, Metconazole, Cyproconazole, Tebuconazole, Flusilazole, Paclobutrazol
2) By Crop Type: Cereals And Grains, Oilseeds And Pulses, Fruits And Vegetables, Other Crop Types
3) By Application: Seed Treatment, Soil Treatment, Foliar Spray, Chemigation, Post-Harvest
North America was the largest region in the triazole fungicide market in 2023. The regions covered in the triazole fungicides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The need for disease management and crop protection is expected to propel the growth of the triazole fungicide market going forward. Crop protection refers to the methods and practices used to safeguard crops from pests, diseases, weeds, and other factors that negatively impact growth and productivity. Disease management involves various techniques and strategies to prevent, control, and mitigate the impact of diseases on plants, animals, and humans. The fungicides offer broad-spectrum activity, systemic and curative action, and effectiveness against resistant pathogens. They protect crop yields and quality, and advancements in formulation and application techniques have further contributed to their adoption. For instance, in June 2021, according to Food and Agriculture Organization, an Italy-based specialized agency of the United Nations, every year, approximately 40% of global crop production is lost due to pest damage. Further, the Food and Agriculture Organization of the United Nations estimates that plant diseases alone incur a cost of around $220 billion to the global economy annually, while invasive insects cause losses amounting to approximately $70 billion. Therefore, the need for disease management and crop protection is driving the growth of the triazole fungicide market.
Key Industry Players
Major companies operating in the triazole fungicides market report are BASF SE, Dow Inc., Mitsubishi Chemical Corporation, Syngenta AG, Bayer CropScience AG, Sumitomo Chemical Co. Ltd., Corteva Agriscience India Private Limited, DuPont de Nemours Inc., LANXESS, FMC Corporation, ADAMA Agricultural Solutions Ltd., UPL Ltd., Nufarm Limited, Nissan Chemical Industries Ltd., Valent U.S.A. LLC, Lier Chemical Co. Ltd., Cheminova AS, Nippon Soda Co Ltd., Limin Chemical Co. Ltd., Jiangsu Flag Chemical Industry Co. Ltd., Isagro S.p.A., Verdesian Life Sciences, Koppert Biological Systems, Marrone Bio Innovations Inc., BioWorks Inc., Nutrichem LLP, Shandong Binnong Technology Co. Ltd., Kyoyu Agri Co Ltd., SEIPASA SA, Sipcam Oxon S.p.A.
The triazole fungicides market report table of contents includes:
1. Executive Summary
2. Triazole Fungicides Market Characteristics
3. Triazole Fungicides Market Trends And Strategies
4. Triazole Fungicides Market – Macro Economic Scenario
5. Global Triazole Fungicides Market Size and Growth
……………………………
32. Global Triazole Fungicides Market Competitive Benchmarking
33. Global Triazole Fungicides Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Triazole Fungicides Market
35. Triazole Fungicides Market Future Outlook and Potential Analysis
36. Appendix
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