Global Bromacil Market: Snapshot
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. In June 2018, AMVAC Chemical made an announcement about the acquisition of Bayer Crop Science’s bromacil herbicide business assets in the U.S. and Canada. The financial terms and conditions of this acquisition are not disclosed yet. This transaction does not find relation with Monsanto’s acquisition by Bayer.
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.
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.
Fact.MR has published a new report on the global bromacil market. In-depth analysis on the global trends that hold significant influence over the market growth during the forecast period of 2018 – 2027 is included in the report. Global agricultural outlook, demand for higher productivity, dearth of farm labor, and environmental toxicity associated with the use of bramocil are few of the important factors impacting future demand for the herbicides including bromacil.
Bromacil Market Outlook
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.
This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on
- Market Dynamics
- Market Size
- Market Segments
- Demand & Supply Trends
- Current Issues and Challenges
- Companies and Competitor Landscape
- Value Chain
Regional Segments Analyzed Include
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, N. Africa)
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.
Highlights from the Report
- Elaborated scenario of the parent market
- Transformations in the market dynamics
- Detailed segmentation of the target market
- Historical, current and forecast market size based on value and volume
- Latest industry developments and trends
- Competition landscape
- Strategies adopted by the market players and product developments made
- Potential and niche segments, along with their regional analysis
- Unbiased analysis on performance of the market
- Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness
Benefits of Becoming a Fact.MR Client
- Access to our global market coverage
- Periodic updates on your sector
- Exclusive discounts and offers
- Greater flexibility for customization
- Quick-research assistance for ad-hoc needs
- Access to credible insights Fact.MR analyst interactions
- Access to Fact.MR tools and research to fuel strategy development