The Europe acaricides market was valued at USD 79.45 million in 2023 and is anticipated to reach at USD 83.90 million by 2024 from USD 129.74 million by 2032, growING at a CAGR of 5.6% from 2024 to 2032.
Acaricides are a type of insecticides that form a mandatory part of the crop protection drug industry. These are created and used to regulate different kinds of arthropod pests that massively occur in plant and animal bodies.
The rising incidence of tick- and mite-borne illnesses in the European agricultural sector in the recent past has paved the way for the high market growth of acaricides in Europe. There are various types of acaricides available, differing in concentration, like- phosphorus, tin, zinc, and chlorine.
The rise in the requirement for high productivity in both agricultural and animal-based sectors and the rising demand for crop and animal-based products are the major driving factors for the market in Europe. Major factors restraining the future growth of the market are growing concern over environmental safety and stringent regulations.
Europe holds the second-highest share of the global market. Europe is quite developed market and still expected to grow at a higher CAGR than North America.
The major key players operating in this market are BASF SE, Bayer AG, FMC Corporation, DuPont, and Nissan Chemical Industries. Ltd., Syngenta, Merck & Co., Inc., The Dow Chemical Company, Chemtura Corporation, Arysta Life Science Limited.
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