Market Trends of north america fungicide Industry
Increasing economic losses due to fungal diseases are increasing the need for fungicides
- Fungal diseases can cause substantial crop losses by damaging plants and reducing their productivity. They can negatively impact crop quality, making the crops unsuitable for sale or consumption. In North America, Mexico is the largest consumer of fungicides, with 1,400.0 g of fungicides consumed in 2022. Mexico's climate varies from arid to tropical, providing favorable conditions for the development and spread of fungal diseases in crops.
- Between 2016 and 2019, the average economic loss resulting from decreased corn yields due to fungal diseases in the United States and Canada was estimated at USD 138.13 per hectare. The significant economic losses caused by reduced crop yields from diseases can increase the usage of chemical fungicides as farmers seek to protect their crops and mitigate the financial impact. This can lead to a higher demand for fungicides to manage and control disease outbreaks, contributing to increased chemical inputs in agriculture.
- Diseases like tar spots in maize, bollworm rots in cotton, and sudden death syndrome in soybeans caused significant losses in North America in 2022, leading to higher requirements for chemical fungicide application per hectare of agricultural land. The repeated and extensive use of fungicides also resulted in the development of resistant strains, increasing the need for the development of innovative chemical molecules.
- Owing to factors like the increased incidence of fungal disease due to changing climatic conditions in the region, the need for reduced yield losses, and higher crop productivity per hectare, the demand for chemical fungicides in North America is anticipated to grow over the coming years.
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The increasing demand for fungicides to protect the crops from disease may drive the prices of fungicides due to the increasing raw material prices
- Mancozeb is a broad-spectrum contact fungicide that is labeled for application on numerous fruits, vegetables, nuts, and field crops in the United States. It protects against a wide spectrum of fungal diseases, including potato blight, leaf spot, scab, and rust. It fulfills the role of seed treatment for crops like potatoes, corn, sorghum, tomatoes, and cereal grains. Its market price for 2022 achieved a value of USD 7.8 thousand per metric ton.
- Propineb, classified as a contact fungicide, accounted for a market price of USD 3.5 thousand per metric ton in 2022. Its utilization encompasses the control of various diseases such as scab, early and late blight, dieback, buckeye rot, downy mildew, and fruit spots, as well as brown and narrow-leaf spot diseases, impacting crops like apple, potato, chili, and tomato.
- Ziram, a fungicide categorized within the dimethyldithiocarbamate group, is registered to control fungal diseases that affect an extensive array of crops, including stone fruits, pome fruits, nuts, vegetables, and ornamental plants cultivated for commercial purposes. Its uses encompass addressing issues such as apple and pear scabs, peach leaf curls, anthracnose, and early blight in tomatoes. Its application serves the dual purpose of shielding crops from harm while growing and preserving the quality of the harvested fruits during storage or transport. The price for 2022 stood at USD 3.3 thousand per metric ton.
- Mancozeb, Propineb, and Ziram are the most commonly used fungicide ingredients. In 2021, the United States imported most of its fungicides from India, Belgium, and Germany, and it is the third-largest importer of fungicides worldwide.
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