Global Azoxystrobin Market 2016-2020

Outlook of the global azoxystrobin market

Azoxystrobin is a systemic fungicide used extensively across the agricultural industry. These plant fungicides are formulated to inhibit the growth or to kill fungi that infect crops. Azoxystrobin protects crops against fungal diseases like Septoria leaf blotch. This disease is caused by a fungus belonging to Septoria species that widely affects wheat and other grasses. The rising global demand for food grain has increased the need to enhance crop yield. Therefore, farmers are increasingly using fungicides to prevent losses due to fungal infections. With rising global food grain production, the market for azoxystrobin will have a positive outlook until the end of 2020. Extensive market research carried out by the analysts at Technavio has shown that the global market for azoxystrobin will grow at a moderate CAGR of nearly 6% by 2020.

In this industry research report, analysts have estimated factors like the rise in agricultural sustainability and the growing adoption of soil fertility management practices to impel the prospects for market growth until the end of the forecast period. With the increased use of chemical fungicides and hybrid seeds, the global agricultural industry has undergone significant developments in the past few decades. The increased emphasis on economic, environmental, and social sustainability in the agricultural sector has compelled farmers to depend on organic practices. This recent shift toward the use of bio fungicides is expected to drive the market growth for azoxystrobin during the forecast period.

Geographical segmentation of the azoxystrobin market

• North America
• APAC
• Europe
• Latin America
• MEA

In this market research, the analysts have estimated North America to be the largest market for azoxystrobin during the forecast period. Factors such as the need to increase agricultural productivity will aid in the growth of this market in the region. The market for azoxystrobin in North America will account for a market share of approximately 29% by 2020.

Competitive landscape and key vendors

The global azoxystrobin market is extremely competitive owing to the presence of numerous regional as well as international players. Intense competition among the vendors is leading to the introduction of many innovative and advanced products.

Key vendors in this market are -

• FMC
• Hangzhou Tianlong Biotechnology
• Jiangsu KWIN
• Syngenta
• Yancheng Limin Chemical

Other prominent vendors analyzed in this market research report are CHEMOS, Jinan Glyline Chemical, Shanghai MIO Chemical, Yangzhou Jeffrey International, and Zhejiang Rayfull Chemicals.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global azoxystrobin market?
• What are the key market trends impacting the growth of the global azoxystrobin market?
• What are the challenges to market growth?
• Who are the key vendors in the global azoxystrobin market?
• What are the market opportunities and threats faced by the vendors in the global azoxystrobin market?
• Trending factors influencing the market shares of APAC, Europe, Latin America, MEA, and North America.
• What are the key outcomes of the five forces analysis of the global azoxystrobin market?

Technavio also offers customization on reports based on specific client requirement.

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