Dithiocarbamate Market to Reach $1.1 Billion, Globally, by 2032 at 5.0% CAGR: Allied Market Research

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Mar 19, 2024, 13:08 ET

The global dithiocarbamate market is driven by increase in demand from agriculture sector. Dithiocarbamates, particularly mancozeb and ziram, are widely used to control fungal diseases in crops. With the increasing global population, there is a growing need to enhance agricultural productivity to meet food demands. Farmers rely on fungicides to protect crops from diseases, ensuring a stable and high-quality yield. According to a report published by Pres Information Bureau in 2023, the agriculture sector in India is witnessing robust growth with an average annual growth rate of 4.6% from 2017-2023. The adoption of modern agricultural practices, such as precision farming and greenhouse cultivation, further drives the demand for effective fungicides such as dithiocarbamates.

WILMINGTON, Del., March 19, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Dithiocarbamate Market By Carbon Content (Mancozeb, Zineb, Propineb, and Others), and Application (Fruits And Vegetables, Flowers, Crops, and Others): Global Opportunity Analysis And Industry Forecast, 2023-2032". According to the report, the dithiocarbamate market valued for $0.7 billion in 2022 and is estimated to reach $1.1 billion by 2032, exhibiting a CAGR of 5.0% from 2023 to 2032.

Prime determinants of growth

The global dithiocarbamate market is driven by rise in demand from rubber manufacturing sector. The rubber industry, a crucial component of the automotive and manufacturing sectors, heavily influences the demand for dithiocarbamates. According to a report published by Alliance for Automotive Innovation in 2022, the automotive industry in the U.S. accounts for 5% of the American economy. As these industries experience growth, the demand for rubber products, including tires, conveyor belts, and seals, increases, thereby boosting the demand for dithiocarbamate accelerators.

In addition, the dithiocarbamate market is significantly impacted by regulatory frameworks governing the use of these chemicals. Governments globally have established regulations to ensure the safe use of agrochemicals and industrial chemicals, including dithiocarbamates. Stringent regulations regarding product registration, labeling, and maximum residue limits in agricultural products can influence market dynamics. In addition, increasing environmental concerns and the focus on sustainable practices drive the development of eco-friendly alternatives and impact the market's growth trajectory. However, environmental and health issues associated with the use of dithiocarbamate may restrain the growth of the dithiocarbamate market.

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Report coverage & details:

Report Coverage

Details

Forecast Period

2023–2032

Base Year

2022

Market Size In 2022

$0.7 Billion

Market Size In 2032

$1.1 Billion

CAGR

5.0 %

No. Of Pages In Report

509

Segments Covered

Carbon Content, Application, And Region.

Drivers

Increase In Agricultural Production

Escalating Demand From Rubber Manufacturing Sector

Opportunities

Advancements In Mining Activities

Restraints

Environmental And Health Issues Associated With The Use Of Dithiocarbamate

The mancozeb segment to maintain its lead position during the forecast period.

By carbon content, the mancozeb segment accounted for the largest share in 2022, contributing to three-fifth of the global dithiocarbamate market revenue. Mancozeb is widely known for its broad-spectrum fungicidal activity, making it effective against a wide range of plant diseases caused by fungi. This effectiveness in controlling diseases such as blights, rots, and mildews makes it a popular choice among farmers and gardeners. Furthermore, with the increasing prevalence of fungicide resistance in pathogens, there is a growing need for alternative fungicides. Mancozeb's mode of action differs from that of other fungicides, making it useful in resistance management strategies.

The fruits and vegetable segment to maintain its lead position during the forecast period.

By application, the fruits and vegetables segment accounted for the largest share in 2022, contributing to more than half of the global dithiocarbamate market revenue. Dithiocarbamates have broad-spectrum fungicidal properties, making them effective against a wide range of fungal pathogens that affect fruits and vegetables. Diseases such as blights, rots, mildews, and other fungal infections can significantly impact crop yield and quality. Dithiocarbamates provide effective control, reducing losses due to these diseases. Moreover, as agricultural practices expand to meet the growing global demand for fruits and vegetables, there is an increased need for effective disease management strategies. Dithiocarbamates offer farmers a reliable tool to control fungal diseases and ensure healthy crop production.

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Asia-Pacific to maintain its dominance by 2032

Region-wise, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than two-third of the global dithiocarbamate market and is projected to register the highest CAGR of 5.3% during the forecast period. The Asia-Pacific region is experiencing rapid agricultural expansion driven by population growth, urbanization, and changing dietary habits. As more land is brought under cultivation to meet the growing demand for food, there is increased need for effective crop protection products like dithiocarbamates to manage diseases and pests. Also, Asia-Pacific is known for its diverse range of crops, including rice, wheat, fruits, vegetables, and cash crops such as tea and coffee. Many of these crops are susceptible to fungal diseases, and dithiocarbamates offer broad-spectrum fungicidal activity, making them valuable for disease management across different crops.

Leading Market Players: -

AkzoNobel
Arkema
LANXESS
Albemarle Corporation
TCI Chemicals
Thermo Fisher Scientific
Merck
SIDDHARTH CHEMICALS
Nouryon
Jinchangsheng Chemical Technology Co.,Ltd

Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://www.alliedmarketresearch.com/dithiocarbamate-market/purchase-options

The report provides a detailed analysis of these key players in the global dithiocarbamate market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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