Dicamba Market by Application and Geography - Forecast and Analysis 2022-2026

The dicamba herbicide market share is expected to increase by USD 210.66 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.74%.

This dicamba herbicide market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the dicamba herbicide market segmentation by application (agriculture, lawn and turf, and others) and geography (Europe, APAC, North America, South America, and the Middle East and Africa). The dicamba herbicide market report also offers information on several market vendors, including Aero Agro Chemical Industries Ltd., Albaugh LLC, BASF SE, Bayer AG, Drexel Chemical Co., DuPont de Nemours Inc, Gharda Chemicals Ltd., Jiangsu Changqing Agrochemical Co. Ltd., Marubeni Corp., Nufarm Ltd., PBI Gordon Co. Inc., Shanghai Bosman Industrial Co. Ltd., Sharda Cropchem Ltd., Sinochem Group Co. Ltd., Syngenta Crop Protection AG, Tagros Chemicals India Pvt. Ltd., The Andersons Inc., and UPL Ltd. among others.

What will the Dicamba Herbicide Market Size be During the Forecast Period?

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Dicamba Herbicide Market: Key Drivers, Trends, and Challenges

The increasing use of dicamba to control the growth of weed is notably driving the dicamba herbicide market growth, although factors such as the imposition of a ban on dicamba in the US may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the dicamba herbicide market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Dicamba Herbicide Market Driver

The increasing use of dicamba to control the growth of weeds is one of the key factors driving the growth of the global dicamba herbicide market. Weeds are unwanted plants as they grow in the wrong places. Weed growth is a serious problem in agricultural lands as they cause problems such as weeds competing with crops for space, light, water, and nutrients, adversely affecting crop yield. Weeds can lead to the blockage of drainage pipes. Therefore, it becomes important for farmers to undertake practices for eliminating weeds, which can be done using various methods, such as plowing, minimum tillage, mulching, crop rotation and intercropping, and using chemicals (herbicides). Weed killers like herbicides exhibit long-term effects; once applied, they do not allow the weed to grow in the long term. Dicamba is a prominent herbicide used for controlling weed growth. The increasing issues pertaining to weed growth will drive the demand for dicamba, promoting the market growth.

Key Dicamba Herbicide Market Trend

The incentives and rewards offered to farmers for using dicamba will fuel the global dicamba herbicide market's growth. The key vendors in the global dicamba herbicide market have developed benefit programs for farmers owing to the ban imposed on the use of dicamba and the stringent regulations due to the adverse effects of dicamba on crops. Moreover, Monsanto offers products like XtendiMax with VaporGrip, which can be used by farmers in the US for their soybean crops. The company supports its product by ensuring the safety of XtendiMax when used methodically. XtendiMax costs approximately $11 per acre, and with Monsanto's cashback offer, on using XtendiMax with other approved chemicals, farmers were likely to receive $11.50 per acre during the subsequent year. Another key vendor in the global dicamba market, BASF, initiated the all-new BASF Grow Smart Rewards program in 2018, with the help of which BASF invited investments in its herbicides and fungicides. The program is designed for the benefit of proactive farmers working closely with retailers, consultants, and BASF representatives.

Key Dicamba Herbicide Market Challenge

The imposition of a ban on the use of dicamba in the US is a major challenge for the global dicamba herbicide market growth. In 2016, the US EPA registered new dicamba formulations for controlling weeds in cotton and soybean plants; these plants were genetically engineered to resist dicamba. The use of these new formulations on growing plants was approved. In 2017, the US EPA reached an agreement with manufacturers to take preventive measures to curb the risk of damage to neighboring crops (modified cotton and soybeans) while using dicamba formulations to control weeds. According to farmers and weed experts, the crops withered and drifted away from the sowing area after being sprayed with dicamba. Moreover, as per the University of Missouri's data, US farmers planted 90 million acres of soybean in 2017, out of which 4% showed damage caused by the use of dicamba. As per leading vendor sources, Missouri has imposed a ban on the use of XtendiMax (Monsanto Company's dicamba product) and FeXapan (DowDuPont's dicamba product) across ten states after June 1, 2018, and all states after July 15, 2018, based on the complaints registered.

This dicamba herbicide market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global dicamba herbicide market as a part of the global fertilizer and agricultural chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the dicamba herbicide market during the forecast period.

Who are the Major Dicamba Herbicide Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• Aero Agro Chemical Industries Ltd.
• Albaugh LLC
• BASF SE
• Bayer AG
• Drexel Chemical Co.
• DuPont de Nemours Inc
• Gharda Chemicals Ltd.
• Jiangsu Changqing Agrochemical Co. Ltd.
• Marubeni Corp.
• Nufarm Ltd.
• PBI Gordon Co. Inc.
• Shanghai Bosman Industrial Co. Ltd.
• Sharda Cropchem Ltd.
• Sinochem Group Co. Ltd.
• Syngenta Crop Protection AG
• Tagros Chemicals India Pvt. Ltd.
• The Andersons Inc.
• UPL Ltd.

 

This statistical study of the dicamba herbicide market encompasses successful business strategies deployed by the key vendors. The dicamba herbicide market is fragmented, and the vendors are deploying growth strategies such as focusing on mergers and acquisitions to compete in the market.

Product Insights and News

• Albaugh LLC- The company offers dicamba herbicides such as Dicamba HD, which is used for many annual, biennial, and perennial broadleaf weeds, as well as woody brush and vines.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The dicamba herbicide market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Dicamba Herbicide Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the dicamba herbicide market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for the Dicamba Herbicide Market?

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36% of the market’s growth will originate from Europe during the forecast period. Belgium, the UK, and Austria are the key markets for the dicamba herbicide market in Europe. Market growth in this region will be faster than the growth of the market in other regions.

The increase in demand for crops because of the rise in population and the limited availability of agricultural lands, and higher crop losses due to weed-related problems will facilitate the dicamba herbicide market's growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID-19 Impact and Recovery Analysis

The demand for dicamba in the region was affected by the COVID-19 pandemic. Russia, the UK, Spain, France, and Italy were some of the most affected countries in the region. For instance, according to the European Centre for Disease Prevention and Control, as of November 29, 2020, the total number of COVID-19 cases in Russia was 2,269,316. The agriculture sector was exempted from lockdown restrictions in the region. During the pandemic, maintaining food security remained one of the European Commission's priorities. In the EU, farmers and other rural development beneficiaries benefit from loans or guarantees to cover their operational costs. Hence, these factors can increase the demand for solutions to control pest attacks and, in turn, influence the market growth in the region during the forecast period. 

What are the Revenue-generating Application Segments in the Dicamba Herbicide Market?

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The dicamba herbicide market share growth in the agriculture segment will be significant during the forecast period. The increasing registrations of various dicamba herbicides are one of the factors that positively impacted the demand for dicamba in agricultural applications.

Besides the above-mentioned factors, the post-COVID-19 impact has brought forth a slowdown in or fast-tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the dicamba herbicide market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Dicamba Herbicide Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 7.74%
Market growth 2022-2026	$210.66 million
Market structure	Fragmented
YoY growth (%)	4.97
Regional analysis	Europe, APAC, North America, South America, and the Middle East and Africa
Performing market contribution	Europe at 36%
Key consumer countries	US, China, Belgium, UK, and Austria
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	Aero Agro Chemical Industries Ltd., Albaugh LLC, BASF SE, Bayer AG, Drexel Chemical Co., DuPont de Nemours Inc, Gharda Chemicals Ltd., Jiangsu Changqing Agrochemical Co. Ltd., Marubeni Corp., Nufarm Ltd., PBI Gordon Co. Inc., Shanghai Bosman Industrial Co. Ltd., Sharda Cropchem Ltd., Sinochem Group Co. Ltd., Syngenta Crop Protection AG, Tagros Chemicals India Pvt. Ltd., The Andersons Inc., and UPL Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Dicamba Herbicide Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive dicamba herbicide market growth during the next five years
• Precise estimation of the dicamba herbicide market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the dicamba herbicide market industry across Europe, APAC, North America, South America, and the Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of dicamba herbicide market vendors

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