Press release
Metolachlor Market Size, Share, Industry, Forecast and Demand 2023-2030
Metolachlor Market-DataM Intelligence
Metolachlor Market Surpasses USD 516.4 Million in 2022, Expected to Reach USD 690.9 Million by 2030 with a CAGR of 3.6%
The global Metolachlor Market, valued at USD 516.4 million in 2022, is poised for substantial growth, projected to reach USD 690.9 million by 2030, at a steady Compound Annual Growth Rate (CAGR) of 3.6% during the forecast period from 2023 to 2030.
Market Dynamics and Growth Factors
The Metolachlor Herbicide, instrumental in overall weed control for agricultural crops, plays a pivotal role in safeguarding plants from damage. The escalating production of row crops such as wheat, rice, maize, and others is a key driver propelling the market growth. According to the International Grains Council, the decline in worldwide wheat production and the absence of modern solutions for crop weed management underscore the need for innovative treatments, creating opportunities for metolachlor product manufacturers.
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Metolachlor Market Scope and Summary
CAGR: 3.6%
Size Available for Years: 2021-2030
Forecast Period: 2023-2030
Data Availability: Value (US$)
Segments Covered: Type, Source, Form, Packaging, Distribution Channel, Crop, Application, and Region
Regions Covered: North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Fastest Growing Region: Asia-Pacific
Largest Region: Asia-Pacific
Insights Covered in the Report
The report provides comprehensive insights into the Metolachlor market, including Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Equipment Type Launches, Growth Strategies, Revenue Analysis, Porter's Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and other key insights.
Market Dynamics and Trends
Increasing Crop Production With Decline in Arable Land
Metolachlor significantly contributes to improving crop yield on limited cultivable land by effectively controlling weeds. The decline in available arable land, as highlighted by the USDA, necessitates innovative solutions to boost agricultural output. The demand for metolachlor is projected to rise, overcoming the challenges posed by reduced arable land, ensuring crops receive sufficient nutrients.
Rising Demand for Fruits and Vegetables
The Asia-Pacific region, anticipated to be the fastest-growing metolachlor market, benefits from the expanding agriculture sector and increased demand for fresh fruits and vegetables. Agricultural methods such as crop rotation and weed resistance impact herbicide usage. The growing demand for fruits and vegetables in countries like China and India further drives the need for metolachlor.
Availability of Substitute Products
While metolachlor enhances crop production, the market faces challenges from substitute products such as mesotrione and terbuthylazine, which offer similar or superior attributes. Regulatory actions, such as ANSES's evaluation on groundwater contamination, could impact market growth.
For more details on this report: https://www.datamintelligence.com/research-report/metolachlor-market
Metolachlor Market Segmentation
The global Metolachlor market is segmented based on type, source, form, packaging, distribution channel, crop, application, and region.
Surging Demand for Horticulture Crops
Metolachlor is a widely used pesticide in horticulture crops, crucial for controlling invasive species and increasing production. The expanding market for fresh produce, as seen in the EU-27, aligns with the rising demand for fruits and vegetables globally, supporting the growth of the metolachlor market.
Global Metolachlor Market Geographical Share
Asia Pacific Dominates the Metolachlor Market
Asia-Pacific emerges as the dominant region in the Metolachlor market, fueled by a significant agricultural industry. The region's contribution to global grain production, especially rice, wheat, and maize, underscores the growing demand for metolachlor.
Competitive Landscape
Major global players in the Metolachlor market include UPL, Monsanto Company, Syngenta, Nufarm, FMC, Nantong Jiangshan Agrochemical & Chemicals Limited Liability Co., Jiangsu Fengshan Group Co., Ltd., Corteva Agriscience, ADAMA, and Tenkoz.
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