The global miticide market is expected to grow at a moderate rate during the forecast period 2019-2025. Miticides are the chemical agents that are utilized to control or kill the harmful mites. Azobenzene, dicofol, ovex, and tetradifon are the most commonly used miticides. Changing environmental conditions, an increase in agriculture productivity and advancement in agriculture and farming technology are some of the major factors that drive the growth of the market across the globe. The deteriorating environment leads to an increase in temperature and somehow increases the level of humidity which in turn increases the presence of miticides in plants and trees. This increases the demand for miticides to control mites and hence contributes to the miticides market growth.
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Growth in agriculture productivity is anticipated to spur the growth of the market. Agriculture productivity is increasing at a considerable level in various emerging economies across the globe including India and China. Additionally, developed economies of the globe are augmenting the demand for miticides due to higher adoption of advanced farming and agriculture practices. Countries including the US and China are the major producers of various fertilizers, insecticides, and pesticides, thus, providing the momentum to the global miticide market. Moreover, the market is estimated to grow with a considerable rate owing to rising demand from residential and commercial domains.
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The major market player of the miticide market is actively adopting growth strategies such as mergers and acquisitions, partnerships, collaboration and agreements to improve their dominance among competitors. Technological advanced new product launching that leads to cost efficiency is the core strength of key market players in the miticide market. Companies are constantly focusing on potential regions across the globe to increase their revenue stream. For instance, in June 2018, United Phosphorous, Inc. launched one miticide in the Indian market to enhance the company’s footprints in the potential markets of India. In 2017, FMP Corp. had acquired DuPont’s business segment that deals with crop protection. The acquisition intends to enhance the product portfolio of the company for advanced farming practices.
Current Market trend covered in the market report:
- Asia-Pacific to register the highest market growth during the forecast period.
- North America holds a major market share in the global market.
- Ban on various miticides by the government of various countries to hamper the growth of the miticide market.
- Increasing gardening activities in the developing nations owing to advanced farming equipment is a major opportunity for the growth of the market.
- Key players of the market are focusing on new product development to remain competitive in the global market.
Global Miticide Market Segmentation
By Source
- Chemical
- Biological
By Form
- Dry
- Liquid
Global Miticide Market – Segment by Region
North America
- US
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Adama Agricultural Solutions
- AGRO SPRAY TECHNIC
- American Vanguard Corp.
- Arysta LifeScience Corp.
- BASF SE
- Bayer AG
- Certis USA, LLC
- Dhanuka Agritech, Ltd.
- FMC Corp.
- Gowan Co.
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