Press Release
Press Release
The global dicamba herbicide industry is significantly supported by North America. Dicamba herbicide is used to control weeds for crop grains and turf area. It can also be used to control bush and bracken in pastures and control cacti and legumes formation. With the population increasing at an alarming rate, the demand for food is rising. With a limited amount of agriculture and increasing weed prices and other agricultural commodities, it is required to decrease food waste, here dicamba is useful as it leads to maximization of crop yield and minimization of crop loss. Increasing need for food security and safety, along with growing awareness about crop protection is accelerating the market for dicamba globally. Increasing demand for commercial crops with the change in monsoon leads to a rise in demand for the global herbicides market. Development in agricultural practices, adoption of precision farming and protected agriculture, and technological advancement has accelerated the growth of dicamba herbicide industry. Glyphosate is also used as herbicide, and emergence of glyphosate resistant weeds has encouraged the farmers to use dicamba. Increase in herbicide resistant weeds and introduction of dicamba-resistant soybean is expected to boost the usage of dicamba, especially in corn and soybean crops. Government of different countries are taking initiatives to promote its usage in order to promote the use of dicamba herbicides by giving tax rebates. This leads to an inflow of manufacturers, making it available at competitive prices. People getting aware regarding the adverse effects of pesticides and stringent rules and regulations, fuels the demand for dicamba herbicide.
The rising competition among the key players is also providing impetus to the market growth. In March 2021, Bayer Cropscience AG (OTCMKTS: BAYRY) launched Vynyty Citrus, a biological product to control pest in citrus farms during virtual symposium. It is formulated with pheromones and natural pyrethrum, to control and gradually reduce pest populations on three species namely California red louse, citrus cotonet and South African cotonet. It is a more sustainable option which does not generate resistance or residues in the harvest or in the environment and, moreover, acts 365 days a year.
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The major players in the global dicamba herbicide industry are Bayer Cropscience AG, Syngenta AG, Nufarm Limited, BASF SE, and Helena Agri-Enterprises, LLC, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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