New York, NY -- (SBWire) -- 02/25/2016 --Persistence Market Research has published a new research report on the global dicamba market. As per the report, the North America dicamba market led the global dicamba market in 2014 and is predicted to expand at a 6.50% CAGR from 2015 to 2021.
The global dicamba market is segmented on the basis of application and geography. By geography, the global dicamba market is classified into Europe, North America, the Middle East and Africa, Latin America, and Asia Pacific. In 2014, in terms of market volume, the global dicamba market was dominated by the North America region, with a 23.7% market share. In terms of value, the Europe dicamba market is predicted to account for a major chunk of the global market throughout the forecast period. The Europe dicamba market is positioned to account for a 28.8% market share by the end of 2015 and expand further through the forecast period. Some of the prominent players in the global dicamba market are BASF SE, Monsanto Company, EI du Pont de Nemours & Company, Bayer AG, The Dow Chemical Company, Syngenta AG, and Nufarm Limited.
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Dicamba, a benzoic acid herbicide, is commonly applied to plants, soil, or leaves. Dicamba is commonly used to control woody plants and broadleaf weeds. Based on application, the global dicamba market is divided into lawn and turf, agriculture, and others. In 2014, the global dicamba market was dominated by the agriculture sector, demand from which is expected to grow at a rapid rate during the forecast period. Increasing preference for dicamba to control growth of weeds is predicted to generate demand for the dicamba market in this sector. In terms of value, the agriculture sector is predicted to expand at an 8.10% CAGR till 2021. The lawn and turf application sector of the global dicamba market is predicted to register a growth of 7% during the period from 2015 to 2021.
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The volatility of dicamba and pending regulatory approvals are expected to be two of the major restraints on the global dicamba market during the forecast period. Factors that are responsible for the growth of the global dicamba market are increasing exports of dicamba from China and increasing awareness about crop protection. Dicamba is being used as a replacement for glyphosate. Nowadays, though, dicamba is also combined with glyphosate and is used for many agricultural applications. It kills the broadleaf weeds before as well as after they sprout. Dicamba duplicates the plant hormone auxin, which kills plants due to its uncontrolled growth. It is a brown to white crystalline solid in nature and has a wide variety of acid and salt formulations. Dicamba is also used in many non-commercial and domestic applications as a post-emergence and pre-emergence herbicide. Dicamba is commercially available in the market in the form of powders, liquids, granules, and liquid concentrates.
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Global Dicamba Market: North America Market to Expand at 6.50% CAGR from 2015-2021
Dicamba is an herbicide used for controlling broadleaf weeds in farmland and other domestic and non-commercial applications. Dicamba is taken in by the weeds through the leaf and roots with short soil residual.