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Written by Tory » Updated on: November 19th, 2024
IMARC Group, a leading market research company, has recently released a report titled “Chlorothalonil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” The study provides a detailed analysis of the industry, including the global chlorothalonil market share, size, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Chlorothalonil Market?
The global chlorothalonil market size reached US$ 256.9 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 407.6 Million by 2032, exhibiting a growth rate (CAGR) of 5.26% during 2024-2032.
Factors Affecting the Growth of the Chlorothalonil Industry:
Increasing Demand for Food Security and Agricultural Productivity:
The growing need for food security and enhanced agricultural productivity is one of the major factors boosting the market growth. In line with this, the rising population across the globe, creating pressure on agricultural sectors to produce higher yields is catalyzing the market growth. Along with this, the increasing utilization of chlorothalonil in protecting crops from fungal diseases, thereby improving yield and quality, is fostering the market growth. Besides this, the heightened reliance of farmers on chlorothalonil to safeguard a wide variety of crops, including fruits, vegetables, and grains, from devastating fungal infections is contributing to the market growth.
Rising Awareness and Adoption of Integrated Pest Management (IPM) Practices:
The increasing adoption of integrated pest management (IPM) practices as a holistic approach to pest control that combines biological, cultural, physical, and chemical tools in a way that minimizes economic, health, and environmental risks is positively impacting the market growth. In line with this, the increasing utilization of chlorothalonil as a key chemical tool due to its effectiveness and broad-spectrum activity is fostering the market growth. Besides this, the growing awareness about the benefits of IPM, such as reduced reliance on chemical pesticides and improved sustainability, leading to a higher adoption rate among farmers, is fueling the market growth. Moreover, the increasing role of chlorothalonil in IPM programs to provide a reliable chemical control option that complements other pest management strategies is supporting the market growth.
Imposition of Regulatory Support and Product Innovations:
The imposition of government regulations and policies in many regions that emphasize the importance of using safe and effective crop protection products to ensure food safety and environmental protection is enhancing the market growth. Moreover, the rising popularity of chlorothalonil, as it has received regulatory approvals in numerous countries due to its proven efficacy and safety profile when used according to guidelines, is anticipated to drive the market growth. Additionally, the ongoing research and development (R&D) activities, leading to the innovation of advanced formulations and application techniques that enhance the performance and reduce the environmental impact of chlorothalonil, are bolstering the market growth. For instance, the development of new formulations with better adherence to plant surfaces or reduced application rates that contribute to more efficient use and reduced chemical runoff is favoring the market growth.
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Chlorothalonil Market Report Segmentation:
Breakup by Product Type:
98% chlorothalonil represented the largest segment due to its high efficacy and widespread use in various agricultural applications.
Breakup by Form:
Wettable powder accounted for the largest market share as it offers ease of handling, storage, and effective dispersal in spray solutions.
Breakup by Crop Type:
Cereals and grains represented the largest segment as these crops are highly susceptible to fungal diseases, necessitating extensive use of chlorothalonil.
Breakup By Regional Insights:
Asia Pacific’s dominance in the chlorothalonil market is attributed to its vast agricultural activities and the rising need to enhance crop productivity to meet the food demands of a growing population.
Global Chlorothalonil Market Trends:
The increasing investment in research and development (R&D) that is focused on developing more sustainable and environmentally friendly chlorothalonil, such as nano-formulations and encapsulation technologies that ensure more precise delivery and lower dosages, is fueling the market growth. Additionally, the expanding organic farming sector, which includes judicious use of conventional fungicides like chlorothalonil as it helps farmers manage fungal threats more effectively while still adhering to organic standards, is fueling the market growth. Furthermore, the digitalization of agriculture through precision farming technologies, such as drones and satellite imagery, as it enables farmers to monitor crop health closely and apply fungicides in a targeted manner, is strengthening the market growth.
Leading Companies Operating in the Global Chlorothalonil Industry:
Browse the full report with TOC and list of Figures: https://www.imarcgroup.com/chlorothalonil-market
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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