Mecoprop Market: Introduction
- Mecoprop is an herbicide, which is also called methylchlorophenoxypropionic acid or MCPP. It is sold under several trade names including Kilprop, Triester-II, Mecopar, Mecomin-D, and Triamine-II. Mecoprop is largely employed as a selective herbicide to restrain the growth of weeds in fruit-bearing trees and cereal crops.
Key Drivers of Global Mecoprop Market
- Rapid growth of the building & construction sector in developing as well as developed countries has led to increase in the installation of turf across the globe. In addition, rising disposable income of people worldwide has led to increase in the purchasing power and changes in the lifestyle of people. This has raised the focus on look, feel, and maintenance of houses. All these factors are projected to drive the global mecoprop market in the next few years, as mecoprop is primarily employed to control the growth of weeds in turf. Mecoprop is also used for providing protection to bituminous membranes, which are primarily used for protection of rooftops from demolishment by plants.
- The global agrochemical industry is extensively growing. Agrochemicals are primarily used to protect crops; improve crop yields; and maintain the quality of food and soil. In addition, these help in modifying the growth process of plants, thereby helping farmers in meeting the food demand of the growing population by increasing per hectare cultivation. This increased demand for agrochemicals is, in turn, likely to drive the global mecoprop, market due to high ability of mecoprop to control the growth of weeds at the time of production of food and agricultural products.
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Regulations on Usage of Mecoprop to Hamper Global Market
- The United States Environmental Protection Agency (EPA) has classified mecoprop under Toxicity Class III, which means it is slightly toxic in nature. In addition, release of mecoprop is highly controlled as per the U.K. Pollution, Prevention and Control (PPC) Regulations, the Food and Environmental Protection Act, the Control of Pesticides Regulations, and the U.K. Surface Waters (Dangerous Substances) Regulations (SI 1997/2560).
- Thus, toxic nature of meoporop is likely to restrain the global mecoprop market in the near future
Asia Pacific to Hold a Prominent Share of Global Mecoprop Market
- Geographically, the global mecoprop market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is a leading consumer of mecoprop, followed by North America and Europe. Rising foreign direct investments (FDIs) in the construction industry in developing economies of Asia Pacific are likely to fuel the mecoprop market in the region during the forecast period. Additionally, rapid growth of the agriculture sector, rising demand for food, and increasing population in Asia Pacific have led to increase in the demand for herbicides, including mecoprop, in the region. China and India are expected to constitute a major share of the market for mecoprop in Asia Pacific in the next few years.
- A majority of manufacturers of mecoprop have presence across the U.S. and the country is a prominent source of mecoprop. On the other hand, governments of countries in Europe have imposed stringent regulations on herbicides, including mecoprop. This, in turn, is likely to result in lower share of Europe in the global mecoprop market during the forecast period.
- The mecoprop market in Latin America and Middle East & Africa is likely to remain highly consolidated during the forecast period. Both these regions rely on imports from developed regions in order to cater to their demand for mecoprop.
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Key Players Operating in Global Mecoprop Market
The global mecoprop market is highly concentrated, with the top manufacturers accounting for a prominent share of the market. Major players operating in the global mecoprop market are:
- Nufarm Ltd.
- Bayer AG
- Dow Agro Sciences
- DuPont, Inc.
- Monsanto Company
- BASF SE
- FMC Corporation
- Adama Agricultural Solutions Ltd
Global Mecoprop Market: Research Scope
Global Mecoprop Market, by Application
- Building & Construction
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