TMR Research has recently released a report titled “Captan Fungicide Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019–2029.” According to this report, the global captan fungicide market is projected to witness promising growth avenues in Asia Pacific during forecast period. Growing use of captan fungicide in the form of pesticide will spur the demand. As a result, the global captan fungicide market will experience increased growth avenues in the upcoming years. The report states that the fungicides market will show remarkable growth at a CAGR of approximately 4.9 % by 2030.
The present TMR Research report gives in-depth analysis of key elements of the global captan fungicide market during the forecast period of 2019 to 2029. Besides, the report talks about a range of strategies such as mergers, acquisitions, and joint ventures by key vendors. Using these moves, players are focusing on consolidating their position in the global captan fungicide market. Thus, the report works as a dependable source of data and a guide for all the market entities and helps in making successful business moves.
The main function of captan fungicides is to destroy harmful fungi, which can affect the growth of the crop and eventually reduce the yield. In recent years, the world is witnessing increased cases of drastic changes in climate. Owing to this factor, the need for taking more precautions to protect the crops from various diseases is increased. As a result, agriculture sector has increased demand for captan fungicides. This factor is stimulating the growth of the global captan fungicides market all across the world.
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Players Using Diverse Strategies to Increase Revenues
The global the captan fungicide market shows fragmented nature. Presence of many local and international players in this market makes the competition level intense. Key vendors are chasing diverse strategies to withstand in this highly competitive market scenario. Among all strategies, research and development activates is one of the top strategies in the global captan fungicide market. Many enterprises are increasing their investments in research and development activities. This factor is working as a driver in the market for captan fungicide.
Many enterprises in the global captan fungicide market are engaged in rolling out new superior quality products. Besides, several companies are entering into partnerships to achieve their goal of growing regional presence. As a result, the global captan fungicide market is experiencing stupendous growth avenues. BASF SE, Adama Ltd., FMC Corporation, Bayer AG, Novo Nordisk AG, Corteva Inc., Sumitomo Chemical Company, Nufarm Ltd., Tata Chemicals Ltd., and Syngenta AG are some of the key players in the global captan fungicide market.
Asia Pacific to Maintain Dominance in Market for Captan Fungicide
Growing demand from Asia Pacific owing to increased agricultural activities will stimulate the captan fungicide market growth during forecast period. The region includes numerous countries such as India, Japan, Indonesia, and China. Agriculture sector holds a significant amount of share in the economy of these countries. Governments of many countries in this region always take initiatives to support the development of this sector. Thus, the development of agriculture sector will drive the growth of the captan fungicide market in Asia Pacific.
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Europe is projected to show significant increase in the captan fungicide consumption during upcoming period. In recent times, European farmers are more inclined toward the use of fungicides instead of other products including herbicides and insecticides. One of the key reasons behind this shift is relatively cheaper rates of than the latter agrochemicals. This shift signifies prominent growth avenues for the captan fungicide market in Europe.