2,4-D MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

2,4-Dichlorophenoxyacetic acid (2,4-D) is used as a herbicide for killing weeds such as bull thistle, cocklebur, dandelions, clover, plantain, morning glory, and chickweed among others. 2,4-D kills broadleaf weeds by causing disorganized and uncontrolled plant growth, which results in death of weeds. 

Market Dynamics:-

2,4-D is used as herbicide in agriculture for protecting crop quality, increasing food yield, and in land management by managing poisonous and invasive weeds on roadways, parks, forests, and grasslands. It is also used in lawn and turf management for safeguarding grasses from weeds and promoting soft turf. Such wide range of applications of 2,4-D is expected to drive growth of the 2,4-D market globally. 

Rising good agricultural practices across the globe along with growing demand for food due to growing population is fueling demand for efficient herbicides such as 2,4-D globally. For instance, according to the Food and Agricultural Organization (FAO) report, in 2017, agriculture activities utilized 37% of the global land area. Moreover, according to FAO forecast, the world crop production is expected to increase by 55% from 1999 to 2030. This in turn is expected to drive the global 2,4-D market growth over the forecast period.

2,4-D is widely used as a herbicide in cereals crops such as wheat, rice, oats, and corn among others. Growing cereal production is expected to drive growth of the global 2,4-D market. For instance, according to the FAO, world cereal production in 2015-16 was 2590.1 million tons, which increased to 2,703.6 million tons in 2017-18.

However, health hazards related to 2,4-D such as cancer, endocrine disruption, reproductive toxicity, neurotoxicity, liver damage, and kidney damage as well as its toxicity to animals such as dogs, fish, birds, and earthworms among others are the major factors that are expected to restrain growth of the 2,4-D market over the forecast period.

Market Outlook:-

• Asia Pacific held major market share in 2018 in the global 2,4-D market. This is attributed to growing agricultural activities in this region. For instance, according to the FAO, agriculture sector utilized over 50% land in Asia in 2017.
• In North America, the U.S. held highest market share in 2018 in the North America 2,4-D market. This is attributed to rising demand of pesticides such as herbicides in this region. For instance, according to the Pesticide Action Network North America, in 2012, 564 million pounds of herbicides was used in the U.S. Moreover, top 5 pesticide in 2012 in the U.S. were glyphosate, atrazine, metolachlor-S, dichloropropene, and 2,4-D, according to the Pesticide Action Network North America.

Key Players:-

• Key players operating in the global 2,4-D market include Aero Agro Chemical Industries Limited, Corteva, Inc., BASF SE, Nufarm Ltd. ADAMA Ltd., Cayman Chemical Company, Albaugh, LLC, Syngenta AG, Sikko Industries Limited, and Monsanto Company.

Market Taxonomy:-

On the basis of crop type, the global 2,4-D market is segmented into:

• Cereals & Grains
• Fruits & Vegetables
• Oilseeds
• Turf & Lawns
• Others

On the basis of formulation, the global 2,4-D market is segmented into:

• Amine
• Ester
• Others

On the basis of form, the global 2,4-D market is segmented into:

• Liquid
• Granules
• Others

On the basis of region, the global 2,4-D market is segmented into:

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • Italy
  • France
  • Russia
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • ASEAN
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East
  • GCC
  • Israel
  • Rest of Middle East
• Africa
  • North Africa
  • Central Africa
  • South Africa