According to the report published by Mordor Intelligence, the Global SDHI Fungicide Market was valued at USD 2153.9 million in 2017 and is expected to reach a value of USD 6481.3 million, registering a CAGR of 20.1% during the forecast period, 2018-2023.
The report contains a detailed analysis on various parameters of the global SDHI fungicide market. The market has been segmented, based on the mode of application and geography. For understanding the competitiveness of the business environment, Porter’s five forces analysis is also conducted.
Segmentation by application is done for both crop based and non-crop based categories. The crop-based category is broadly segmented into cereals, oilseeds, fruits, and vegetables, while the non-crop based category includes turf and ornamental grass and others, in the segment. On geographical basis, global SDHI fungicide market is segmented into: North America, Europe, Asia-Pacific, South America, and Africa.
The crop based application of SDHI fungicides occupy a market share of 77%, while the non-crop-based application occupies a share of 23%. Under crop-based category, oilseeds segment is expected to witness the fastest growth in the forecast period. The turf and ornamental grass segment occupying a major share of around 76%, under the non-crop based category, is expected to be the fastest growing segment during the forecast period. SDHI fungicides play a prominent role in controlling turf grass diseases. Major products that find extensive use in the turf grass and ornamentals are from BASF, Bayer, and Syngenta.
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Europe is the largest SDHI fungicide market, accounting for 37% share of the global market in 2016 and is expected to witness the fastest growth during the forecast period. However, by country, the US is one of the largest SDHI fungicide markets in the world, with a 41% share in the total North American market. In the US, SDHI fungicides are widely used against ‘monilinia fructicola’ fungus, which degrades the productivity of cherries, peaches, apricots, nectarines, plum, almonds, and strawberries. There is a growing demand for crop-protection products, such as, fungicides that include SDHI fungicides for seed treatment and crop protection from emerging economies of Asia-Pacific and South America as well.
SDHI Fungicide Market Dynamics
Increasing demand for food, mainly grains, increased adoption of new and advanced farming practices, and evolving R&D activities are the major forces driving the market. However, high production cost and wastages, decreasing arable land, and increasing regulatory concerns are the likely factors constraining the market.
According to Mordor Intelligence research and analysis, in the recent years, Syngenta, Bayer Cropscience, Certis USA, DuPont, Monsanto, and BASF SE are some of the major players operating in the global SDHI fungicide market. The top three players BASF, Syngenta, and Bayer hold more than 76% of the overall market share. New product launches, partnerships, and innovations are the major strategies adopted by leading companies in the SDHI fungicide industry globally.