The Propanil Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Propanil Market is estimated to be USD xx billion in 2018 and predicted to rise to USD xx billion by 2023 with a CAGR of xx%. The market is divided by Product (Propanil Technical Toxicant and Propanil Preparation), by Application (Paddy, Redroot Amaranth, Crab Grass, Barn Grass and Other Applications). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
Propanil market is a part of herbicide market and its growth dynamics are connected to the growth of herbicides market. Herbicides are in high demand in the agriculture sector, as it is essential to save crops from fungal infections, which often stunt and weaken the growth of crops. Application of herbicides of crops ensures higher yield by neutralizing the threat which is posed by growth of weeds. The primary driver of the herbicide market is the demand for higher food production amidst growing global population. The main crop which accounts for the larger part of propanil use is paddy. Rice crop has experienced high demand growth with growing population. In order to meet the high demand, farmers across the world have adopted various methods to increase profitability and yield. Higher use of propanil is one of the many measures which is undertaken to improve food yield and quality. However in some cases it can destroy paddy. Propanil is toxic in nature, however the extent of precaution required to prevent environmental toxification is yet to be ascertained. Prolonged dermal exposure leads to irritation on skin.
The global Propanil market is segmented based on the basis of product into propanil technical toxicant and propanil preparation. By application, the market is categorised into paddy, redroot amaranth, crab grass, barn grass and other applications. Paddy is expected to have the largest share in this segment.
The Global Propanil market is divided based on geography into North America, Latin America, Asia-Pacific, Middle East and Africa and Europe. Asia Pacific has the leading market for Propanil in the world, which is followed by North America and Europe regions. Asia Pacific region is expected to have the fastest growth rate during the forecast period. China is the largest producer and consumer of propanil in the world by country.
Some of the major players in the market are SinoHarvest, Bayer CropScience, Kenvos Biotech Co. Ltd., Willwood USA, and Westrade Guatemala S.A. among many others.
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