Bromacil Market to Reach $177.6 Million, Globally, by 2033 at 2.8% CAGR: Allied Market Research
Wilmington, Delaware , Sept. 19, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Bromacil Market by Type (Bromacil 40 herbicide, Bromacil 80 herbicide and Others), and Application (Non-crop areas and Crop areas): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the bromacil market was valued at $135.3 million in 2023, and is estimated to reach $177.6 million by 2033, growing at a CAGR of 2.8% from 2024 to 2033.
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Prime determinants of growth
The bromacil market is expected to witness growth to rise in crop areas and increased agricultural productivity requirements that call for efficient weed control methods. In addition, technological developments in herbicide formulations and applications also contribute to the growth of the market by improving efficacy and minimizing environmental effects. Moreover, regulatory variables are important as they shape the creation and use of products through changing standards and rules. Furthermore, growing concern about environmentally friendly farming methods promotes integrated pest control methods, which could influence the usage of bromacil. Additionally, market dynamics are further influenced by economic factors, such as crop pricing and agricultural investment. Thus, these factors work together to influence the bromacil supply and demand situation, propelling its expansion across various regions.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $135.3 million |
| Market Size in 2033 | $177.6 million |
| CAGR | 2.8% |
| No. of Pages in Report | 250 |
| Segments Covered | Type, Application and Region |
| Drivers | Agricultural Expansion |
| Technological Advancements | |
| Demand for High-Yield Crops | |
| Opportunities | Sustainable Practices |
| Product Innovation | |
| Restraints | Regulatory Challenges |
| Environmental Concerns |
Segment Highlights
By type, the bromacil 40 herbicide segment dominated the market with the highest market share in 2023. Bromacil 40 is a herbicide formulation that has an active component content of 40%. This pesticide is used in both crop and non-crop areas to manage a broad spectrum of weeds and grasses. It works by preventing photosynthesis, which effectively stops the targeted flora from growing. In both industrial and non-crop areas, as well as in crops including sugarcane, pineapples, and citrus fruits, bromacil 40 is frequently used in agriculture. The formulation's high concentration guarantees both extended residual activity and efficient weed control. Its use is controlled to reduce its negative effects on the environment, and application regulations are designed to prevent runoff and reduce the possibility of damaging nearby ecosystems.
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By application, the non-crop areas segment dominated the market with the highest market share in 2023. Bromacil is used for its efficient weed and vegetation management in non-crop areas. Roadsides, utility rights-of-way, industrial sites, and railroads are some of the locations where controlling exotic vegetation is essential for maintaining infrastructure and ensuring safety. Bromacil inhibits the growth of weeds that could interfere with operations or lead to maintenance problems. Since it has long-lasting effects, it can be used in situations where it is not possible to use the product frequently. The herbicide is also employed in landscaping and municipal areas to keep invasive species under control and preserve aesthetically pleasing and functional landscapes. Despite its advantages, bromacil use in non-crop areas is regulated due to health and environmental concerns. This has led to continuous improvements in formulation and application technology.
Regional Outlook
The growing regulatory scrutiny in the U.S. encourages more sustainable options and stringent usage standards. In addition, the usage of bromacil is being driven by growing agricultural demands in China, but new regulations attempt to restrict the use of pesticides. Moreover, the Asia-Pacific region is growing significantly; yet, there are legislative requirements to promote eco-friendly solutions and increased environmental awareness due to rising agricultural activity. Furthermore, the demand for and use of bromacil is shaped by regional laws, technological developments, and agricultural practices. Thus, companies negotiate these regional variations to successfully meet the demands of the local market and handle environmental and regulatory issues.
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Players: -
- Adama Agricultural Solutions
- Corteva Agriscience
- FMC Corporation
- Syngenta Group
- Alligare LLC
- AMVAC Chemical Corporation
- Chem China Ltd.
- Nufarm Limited
- UPL Limited
- Wilbur-Ellis Company
- DuPont
- Bayer CropScience
The report provides a detailed analysis of these key players in the global bromacil market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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