Dicamba is a type of herbicide that is used to kill broad-leafed weeds and is used along with other herbicides, especially glyphosate. Commercially it is available under the name of diablo, vanquish, and oracle and all them can be used for both agricultural and residential landscape applications such as home lawns. The dicamba is basically use to kill the broad -leaves plants growing on plants such as wheat and corn. Dicamba can be produced by using raw materials such as 3,5-Dichlorobenzoic acid, potassium hydroxide, carbon dioxide, hydrochloric acid, chlorobenzyl alcohol, and sodium hydroxide.
The global dicamba market was estimated to be valued more than US$ 350 million in terms of revenue in 2018 and is predicted to grow at a CAGR of 7.8% during the forecast period (2019 to 2027)
Growing awareness regarding crop protection among farmers is expected to augment the market growth of dicamba in the near future. Arable land is reducing day by day due to adverse climatic factors, uneven distribution of land between regions and countries, and ongoing urbanization. According to the Coherent Market insights, over the last 30 years, the U.S. has lost 140 million hectares of agricultural land as a result of soil degradation and conversion for urban use.
A growing number of companies entering into distribution agreements for dicamba for increasing market presence and opportunity will favor the market growth. For instance, in July 2016, U.S. seed and agrochemicals companies Monsanto Co and DuPont have signed a multi-year supply agreement for the weed killer dicamba in the United States and Canada. Therefore, the rising adoption of such the growth strategy will foster the market growth of dicamba.
Side-effects associated with the exposure of dicamba since it is toxic in nature is expected to hamper the market growth over the forecast timeframe. Symptoms of poisoning with dicamba include vomiting, slowed heart rate, muscle weakness, loss of appetite, shortness of breath, incontinence, central nervous system effects, cyanosis, and exhaustion. Aforementioned side-effects associated with the exposure of dicamba is projected to hinder the market growth over the forecast timeframe.
Among application, agriculture segment dominated the global dicamba market in 2018 with around 85% of market share in terms of revenue, followed by lawn & turf and others, respectively.
Growing focus of manufactures to launch drift reduction agent for dicamba in order to reduce damages of non-targeted crops is augmenting the market growth of dicamba. For instance, in May 2018, Precision Laboratories launches drift reduction agent for dicamba. Intact Advanced is a new drift reduction agent (DRA) for use with XtendiMax with Vaporgrip Technology and Engenia herbicides. This technology use plant-based polymer technology to deliver more droplets on-target and to condition hard water without using AMS.
Increasing relaxation on the use of dicamba across few regions where its use has been restricted is estimated to influence the market growth over the forecast period. For instance, in July 2019, Texas Agriculture Commissioner Sid Miller has announced that the federal Environmental Protection Agency (EPA) has eased the restrictions on the use of the herbicide dicamba by Texas cotton farmers. This is a direct result of a cooperative push by the Texas Department of Agriculture, Texas A&M Agrilife Research and Extension Services and Texas cotton farmers.
Key players active in the global dicamba market are BASF SE, Monsanto Company, E I du Pont de Nemours & Company, Bayer AG, The Dow Chemical Company, Syngenta AG, and Nufarm Limited
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