Chlorpropham Market

Chlorpropham Market Growth Outlook (2023-2033)

The global chlorpropham market is estimated to be valued at US$ 94.6 million in 2023 and it is anticipated to grow at a CAGR of 4.1% to reach US$ 141.4 million by the end of 2033.

Chlorpropham or CIPC is an herbicide and a plant growth regulator. CIPC is used as a sprout or offshoot suppressant. Further, chlorpropham in tobacco functions as sucker control and is also utilized to hinder potato sprouting, especially during storage. It is available in both liquid formulations and emulsifiable concentrate.

Report Attributes	Details
Market Size (2022A)	US$ 90.9 Million
Estimated Market Value (2023E)	US$ 94.6 Million
Forecasted Market Value (2033F)	US$ 141.4 Million
Global Market Growth Rate (2023-2033)	~4.1%
North America Market Share (2023)	~12.5%
East Asia Market Growth Rate (2023-2033)	~4.4%
Key Companies Profiled	Aceto NATIONAL ANALYTICAL CORPORATION Capot Chemical Co., Ltd.

Historic and Future Pathway Analysis for the Chlorpropham Market

Growing agricultural activities across the globe, especially in India and China, spur the market's growth outlook as there are minimal guidelines over the use of herbicides or chemicals, and also farmers utilize chemicals or herbicides to enhance production and gain high-profit margins. Further, India and China are lucrative markets for potato consumption and production. Hence, in order to prevent the potato from sprouting during storage, the use of chlorpropham is anticipated to increase.

Chlorpropham has approval only for potatoes in the United States for use as an herbicide and plant regulator.

• Short Term (2023-2026): Burgeoning agriculture sector especially across emerging economies to create a plethora of opportunities for the chlorpropham market.
• Medium Term (2026-2029): Growing potato and packed food consumption across the globe to supplement the chlorpropham market’s growth as it is used to prevent potatoes from sprouting during storage before use.
• Long Term (2029-2033): Initiatives taken by market players to enhance the chlorpropham sales in the potential market coupled with efforts lead to improve supplier and distributors network is anticipated to create ample opportunities for the chlorpropham market to grow in a long run.

Over the 2018-2022 historical period, the global chlorpropham market registered a CAGR of 3.3%, according to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 4.1% CAGR between 2023 and 2033.

Market share analysis of chlorpropham based on application and region is provided in a nutshell in the above image. Under the application segment, the terrestrial food crops sub-segment dominates with a 56.5% market share in 2023.

“Growing Agrochemical Industry to Augment Growth”

The growing agrochemical sector creates a plethora of opportunities for the chlorpropham market to grow.

• For instance, the global agrochemical market to account for a valuation of US$ 232.3 billion in 2022, growing at a CAGR of 2.6%, and reaching a valuation of US$ 292.0 billion in 2030.

Further, government initiatives and schemes create lucrative opportunities for the agrochemical market.

• For instance, the government has created a 2034 vision for the chemicals and petrochemicals industry to look into ways to increase domestic production, decrease imports, and draw in investment.
• In order to build an ecosystem for end-to-end manufacturing, the government intends to execute a production-link incentive strategy with 10–20% output incentives for the agrochemical industry.
• For the benefit of farmers, the government urged agrochemical industry participants to come out with new molecules of global standards. Further, CropLife India, the industry body, argued for stable regulatory and policy frameworks to support the sector's growth.

The aforementioned factors drive the agrochemical market growth, hence, chlorpropham is anticipated to witness growth on the back of the mushrooming agrochemical industry.

“Fluctuation of Raw Material Prices May Hamper Market Growth”

The growing demand for organic food restrains market growth in both developed as well as developing nations. With the consumer demand for better health and increased awareness about the negative effects of synthetic ingredients, the demand for organic ingredients has increased over the past few years.

Further, owing to the use of synthetic chemicals in plants and animals, such as pesticides, herbicides, and antibiotics, enter the food chain and cause a negative impact on health. On the back of this, the demand for organic food is prevailing, which, in turn, hamper the growth of the chlorpropham market.

Chlorpropham is banned due to its negative health impact in numerous European nations and also approved only to use on potatoes to prevent sprouting during the storage period.

Country-wise Insights

How Potato Products Boost the Demand for Chlorpropham in the US?

In the US, the consumption and production of potatoes are high. Among the world's top producers of potatoes, the United States comes in fifth place.

• With an estimated 129 million cwt of potatoes produced annually in the United States in 2021, Idaho topped the list of top potato-producing states.
• The next two biggest producers in that year were Wisconsin and Washington, with total production accounting for approximately 29 million cwt and 93.3 million cwt, respectively.
• In the United States, about 59 million cwt of potatoes were used to make chips and shoestring fries in 2020. Since 2010, the amount of fresh sweet potatoes consumed per person has been rising for the past few years.

With the growing demand for potatoes across the US, production increases and to preserve potatoes for a long the demand for chlorpropham is also increasing. As chlorpropham is used as a plant regulator and herbicide for potatoes and prevents potato sprouting during storage.

Why is the China Chlorpropham Market Expected to Be Highly Lucrative?

China is a nation with abundant agricultural resources and a sizable rural population, in addition to a long history of farming and practice of intensive cultivation, which makes China is leading country in agriculture and creates lucrative opportunities for the sales growth of Chlorpropham.

Further, the advancement of agriculture has always been a top priority for the Chinese government. Since 1978, China has implemented a policy of gradual reform and opening up, hastening the development and reform of agriculture.

The government has adhered to a policy of giving priority to work in agriculture, rural areas, and farmers, especially in recent years. With less than 10% of the world's arable land, China has managed to feed one-fifth of the world's population and produce one-fourth of the world's grain, which is a significant accomplishment in the quest for food and nutrition security not only in China but also globally.

Hence, with the flourishing agricultural sector China also witnesses weed issues, and in order to overcome that use of Chlorpropham is increasing. Additionally, the presence of major market players in China offers immense growth opportunities to the market.

Category-wise Insights

Which Form of Chlorpropham dominates the market?

Concentrate chlorpropham to account for the major market share of 56.5% in 2023. The growth is attributed to the ease of handling concentrated chlorpropham as compared to liquid. It also doesn’t lose its property in temperature change in concentrate form. It is easy to store for a long-time frame. Owing to such factors concentrate chlorpropham is gaining traction.

The market is anticipated to be valued at US$ 53.4 million in 2023 and grow with a CAGR of 3.9% during the forecast period.

Will Market Growth Be Led by the Terrestrial Food Crops?

Terrestrial food crops are anticipated to account for the major market share of 45.4% in 2023, with a valuation of US$ 42.9 million. It is estimated to grow at a CAGR of 4.1% during the forecast period from 2023-2033 and reach a valuation of US$ 64.2 million by the end of 2033.

Competitive Landscape

Prominent chlorpropham manufacturers are Aceto, NATIONAL ANALYTICAL CORPORATION, and Capot Chemical Co., Ltd., among others.

Manufacturers are adopting various ground-breaking strategies to have a huge network of loyal customers enabling them to gain high-profit margins. Further, the long-term trade relationship with the supplier and distributors enables market players to survive in an unfavorable trade situation.

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

Segmentation of Chlorpropham Industry Research

• By Form :

  • Concentrate
  • Liquid

• By Application :

  • Terrestrial Food Crops
  • Nonfood Crops
  • Ornamentals Crops

• By Region :

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