Chlorothalonil, the organic compound is widely used as fungicide. One of the prominent applications of the non-systematic fungicide is in agricultural sector. It is used as pesticide to spray on crops to avoid any diseases and maintain health of crops.
The broad-spectrum aids prevent growth of fungi in trees, agricultural crops, small fruits, vegetables, turf, and ornamentals. Besides, it also controls mold, algae, mildew, bacterial, and fruit rots in cranberry bacteria.
Rapid population growth across the world and rising awareness regarding diseases control are some of the major factors contributing to demand for quality food. This, in turn, is resulting in growth of the global chlorothalonil market.
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Also, the factors are paving enormous business opportunities for the players operating in the market. Moreover, decreasing size of arable land due to urbanization is resulting in the application of effective fungicides.
Applications across Several End-use Industries Promises Demand
Further, chlorothalonil is also used as wood protectant. It helps prevent the wood from decay. Chlorothalonil market is witnessing substantial demand from furniture industry. Growing demand for furniture across the globe has emerged as a prominent driving factor.
Meanwhile, the organic compound has wide application range in paint and leather industry as well. Chlorothalonil is used to protect leather and similar fabric against mildew and mold attacks. Also, it acts as preservative additive in resins, paints, emulsion, and coating. Expansion of coating and paint industry is contributing to growth of the global chlorothalonil market.
Gradual surge in demand for leather products, food, furniture and similar wooden equipment has been resulting in growth of leather, agrochemical, construction, and furniture industry. Owing to expansion of aforementioned end-user industry, the global chlorothalonil market is anticipated to escalate in coming years.
In a recent report published by TMR Research, various factors shaping the global chlorothalonil market, have been focused upon. The report provides detailed insights about key segments, restraining factors, competitive landscape, and general geographical outlook of chlorothalonil market for the forecast period (2019-2029).
Further, growth of agrarian bases economies are likely to propel chlorothalonil market in these regions. To focus towards eliminate loss of agricultural production and enhance the nutritional qualities of food grains are likely to fuel chlorothalonil market in coming years. Moreover, development of nano-pesticides to minimize the effect of pesticide application of environment is predicted to positively impact the chlorothalonil market dynamic.
South Asia and East Asia are exhibiting a considerable demand for pesticide based products. The regional chlorothalonil market is anticipated to witness at substantial rate owing to expansion in agriculture and paint industries in these regions. Furthermore, East Asia is an exporter of chlorothalonil around world. Europe and North America are matured chlorothalonil market. These regional market is likely to grow at a steady rate during the forecast period.
On other hand, outbreak of COVID-19 and lockdown situation across the globe have resulted in disruption in production and supply chain of chlorothalonil market. Owing to disruption, various end-user industries such as furniture, paint, and others have been impacted severely. As a result, the global chlorothalonil market is also witnessing downturn in present time.
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Nevertheless, once the pandemic is over, the market is likely to witness upsurge in demand for chlorothalonil from agriculture sector. This is due to growing demand for nutritious and quality food from the health conscious consumers.
Some of the key players operating in the global chlorothalonil market are ABI Chemicals Germany, AK Scientific Inc., Bayer Crop Science Ltd, Dacheng Pesticide Co Ltd, Gfs Chemical Inc, Rallis India Limited, Syngenta AG and among others.