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Bromacil Market

Bromacil Market Analysis Report By Product Type (Bromacil 40 Herbicide, Bromacil 80 Herbicide), By Application (Weeding, Pest), By Region - Global Insights 2022-2032

Analysis of Bromacil market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Global Bromacil Market Outlook

The global bromacil market is estimated at USD 15.3 Billion in 2022 and is forecast to surpass USD 23.4 Billion by 2032, growing at a CAGR of 4.3% from 2022 to 2032.

Report Attributes

Details

Base Year Value (2021A)

USD 14.7 Billion

Estimated Year Value (2022E)

USD 15.3 Billion

Projected Year Value (2032F)

USD 23.4 Billion

Global Growth Rate (2022-2032)

 CAGR 4.3%

North America Market Share in 2021

~36%

North America Growth Rate (2022-2032)

CAGR ~4.6%

Collective Value Share (US, China, India) 2022: Top 3 Countries

~39%

Top 5 Companies Market Share in 2021

~23%

Key Companies Profiled

  • AMVAC C.V.
  • DuPont
  • Alligare
  • Bayer AG
  • Arysta LifeScience
  • Xian wenyuan
  • Yifan Biotechnology Group Co. Ltd.
  • Jiangsu Sword
  • Other Market Players

The global bromacil market is likely to create an absolute dollar opportunity of USD 8.1 Billion by the end of 2032. The global bromacil market holds ~43% of the global herbicides market.

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2017-2021 Global Bromacil Market Outlook in Comparison to 2022-2032 Growth Forecast

The growing concern about the increasing global population and the availability of natural resources have been giving rise the evolution of agricultural technology with increasing focus on non-agricultural industrial vegetation control. The recent upsurge in the demand for bromacil is mainly attributed to the need for curbing the growth of unnecessary weeds on farmlands.

Bromacil is widely used specifically to control a wide variety of annual and perinneal weeds mainly in non-crop areas and fruit, and works interfering with the photosynthesis process of the weeds. The growing need for herbicides for the demand for a larger crop yield is expected to fuel the growth of the bromacil market. However, the ban of synthetic inorganic compounds as herbicides, to reduce their negative impact on the environment could cause a negative impact on the evolution and growth of the bromacil market.

Nevertheless, the ongoing developments in the traditional farming methods and a rise in adoption of herbicides and pesticides, the demand for bromacil is likely to reach new heights in the coming years. The use of organic and environment friendly herbicides and pesticides is a growing trend in agriculture, as farmers are aiming to adopt sustainable farming techniques. Despite this, bromacil is expected to remain popular as an effective and efficient herbicide used in long-established weed control practices during the forecast period from 2022 to 2032.

Fact.MR projects the bromacil market is expected to witness exhibiting growth at 4.3% CAGR during 2022 and 2032 in comparison to a CAGR of 2.8% with which it grew from 2017 and 2021.

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Market Players Adopting Key Strategies to Strengthen Their Position in the Market

The global bromacil market is anticipated to find manufacturers focusing on merger and acquisition as a leading business tactic to strengthen their position in the industry. By entering into partnership with other companies, players could obtain a position of strength in the global bromacil market. American Vanguard’s chief executive and chair, Eric Wintemute said that the deal with Bayer will open the door for his company to expand its participation in the industrial vegetation management business. Moreover, the deal will place the company in a strong position to serve several niche crop markets. On the other hand, the acquisition will widen the domestic herbicide portfolio of the company along with other initiatives that are being pursued, continued Wintemute.

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Advantages Offered by Bromacil to Support Market Growth

Growing popularity of bromacil herbicides as long-established and valued weed control tools is expected to augur well for the market. Bromacil is also used to control the growth of non-agricultural industrial vegetation. Initially registered as a pesticide in 1961, bramocil is now commercially available as herbicide compounds. Majorly applied to control range of grass and broadleaf weed species, bromacil is used to control weeds in the fields of pineapple, citrus, asparagus, and agave.

Commercially available as granule, soluble concentrate or wettable powder, bromacil is sprayed on the soil surface using sprayers that are hand-held, knapsack, compressed air, tank-type or power operated. From the soil, bromacil is absorbed through roots and spread throughout the plant. Mode of action involves interference in the process of photosynthesis by inhibiting transport of photosynthetic electrons.

Demand for Higher Crop Productivity to Boost Utilization

By 2050, the global population is expected to reach 9.7 billion. A two-fold rise in the cereal crop production is expected to feed this increased population. This has generated pressure on the agricultural community to deliver higher productivity. However, to increase the productivity, farmers face variety of challenges including protecting plants from diseases, maintaining crop quality, resource constraints, and financial support. To overcome these challenges and achieve higher productivity, farmers are adopting modern farming methods such as use of pesticides, herbicides, and fungicides. Thus, demand for herbicides including bromacil is projected to increase in future owing to increased pressure of productivity.

Increased Demand for Herbicides to Fuel Market Growth

In developing agriculture-driven countries utilization of herbicides is higher due to rising shortage of hand-weeding labor. Research studies have observed that use of weedicides or regular removal of weeds can lead to increased use of fertilizers and further increase the crop yield. Although hand weeding is more economical, increased farm wages due to consistent economic growth has favored adoption of herbicides in agricultural fields. Further, overall economic growth has created non-farm employment opportunities which are, in turn, reducing the available labor, and increasing the adoption of weedicides or herbicides. Benefits of bromacil such as affordability and application flexibility make the herbicide popular in the farmer community.

Bans Regarding Potential Environmental Damage: A Prominent Influencer

Synthetic chemicals used in the agricultural community have been consistently discussed due to their toxic effects on the environment. Fertilizers, herbicides, pesticides and other chemicals might increase the productivity in volumes, however, they present significant threat to environment, farmers, and other animals. Unwise use of herbicides has been a common approach practiced by farmers. Costa Rica, in 2017, issued a ban on the use of bromacil due to its harmful effect on soil as well as human health. Despite EPA’s stringent regulations, traces of bromacil has been reported some drinking water reservoirs. As the scenario of restricted use or complete ban on bromacil prevails, EPA’s changing risk assessment approaches are likely to influence growth of the global bromacil market.

Organic Agriculture Trend to Hamper Market Growth

Organic products have witnessed increased adoption among consumers obsessed with clean labels. Due to higher demand, the organic agriculture sector has witnessed dramatic growth in past decade. According to FiBL, approximately 57.8 million of agricultural land is managed organically and has generated over US$ 90 billion market revenue. In 2016, approximately 2 million organic producers were reported across the globe. Organic farming does not involve use of chemical fertilizers, pesticides and herbicides. As organic products are highly sought after by consumers, market for bromacil is likely to remain under the influence of this trend.

Organic Herbicide: A New Entrant in the Market

Organic product manufacturers have introduced new natural organic herbicides, which are non-selective, non-systematic, and break down quickly leaving no residues behind. Some of the vendors have launched organic weed control solutions in form of spray that kills seeds and provide long-term sustainable results.

In conclusion, the report on the global bromacil market includes in-depth analysis of above-stated factors that influence the market growth. Such thorough analysis has made the report the most comprehensive source of research that can assist financial community in making business decisions.

Competitive Landscape: Top Companies in Bromacil Market

The global bromacil market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.

Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the growth of bromacil.

Fact.MR has provided detailed information about price points of key manufacturers in bromacil market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

For instance:

  • DuPont in 2021 announced the acquisition of Rogers Corporation. This acquisition will expand the leadership position of the company in the advanced materials like 5G telecommunications, advanced driver assistance systems (ADAS), electric vehicles, clean energy etc.
  • Bayer AG in 2021, acquired Vividion Therapeutics, which will strengthen the drug discovery capabilities to generate first-in-class novel compounds in medical need

Global Bromacil Market by Category

  • By Product Type, Global Bromacil Market is segmented as:

    • Bromacil 40 Herbicide
    • Bromacil 80 Herbicide
    • Other Product Types
  • By Application, Global Bromacil Market is segmented as:

    • Weeding
    • Pest
    • Others
  • By Region, Global Bromacil Market is segmented as:

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

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The global value of bromacil market is estimated to be worth over USD 15.3 Billion in 2022.

The demand is anticipated to surpass USD 23.4 Billion by 2032 end.

During 2017-2021, global bromacil market grew at 2.8% CAGR.

Some of the prominent players in bromacil market are AMVAC C.V., DuPont, Alligare, Bayer AG, Arysta LifeScience, etc.

North America tops the global bromacil market accounting for 36.4% of global market share in 2022.

Bromacil 80 herbicide segment under the product type segment contributes 45.6% of market share in global sales of bromacil.

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