The Latin America acaricides market size is expected to reach USD 60.54 million in 2024 and reach USD 79.50 million by 2029, growing at a CAGR of 5.6 % from 2024 to 2029.
Acaricides are pesticides that are used to kill ticks and mites and help cattle gain resistance against various infectious illnesses. Acaricides work by meddling with the development of nerves, breath and muscles, of mikes and ticks.
Cattle farmers should use acaricides to eliminate tick infection and injury to cattle. Losses due to tick infections are considerable and ticks cause paralysis and weakens health of animal. Some acaricides may be dangerous to fishes and other wildlife and has to be used carefully to avoid damage to ecosystem.
Some of the factors like the rise in efficiency, advancements in crop protection industry, and rise in demand for meat and dairy products are driving the market. The main restraints of the industry are the regulatory restrictions, alternative acaricide sources and rising cost.
Latin America is a growing market and has a major share of the global market. Brazil holds the highest share in this region.
The major key players operating in this market are BASF SE, Bayer AG, FMC Corporation, DuPont, Nissan Chemical Industries. Ltd., Syngenta, Merck & Co., Inc., The Dow Chemical Company, Chemtura Corporation, Arysta Life Science Limited.
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