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Propargite Market: Overview

Propargite is a pesticide used to kill mites. It is an acaricide – a class of pesticides that kill members of the arachnid subclass Acari, which includes ticks and mites. Acaricides are used both in medicine and agriculture, although the desired selective toxicity differs between the two fields. Propargite is also named as 2-(4-tert-butylphenoxy)cyclohexyl prop-2-yne-1-sulfonate. Its trade names are Omite and Comite.

Continuous increase in the global pesticide consumption, alteration in pesticide usage and environmental issues has had a great impact on the propargite market demand. The pesticide market is mainly segmented into herbicides, insecticides, and fungicides.

Propargite Market: Key Drivers and Restraints

The global herbicide market has rapidly grown over the last decade as compared to the other segments. However, due to some post effects such as formation of residuals in soil run-offs, high carbon emissions, and decreased food quality, the demand for herbicides has shown a decline in the past couple of years. Furthermore, consumers are attracted towards insecticides that show better performance. This shift in the pesticide usage pattern is considered to drive the propargite market demand.

Propargite exhibits properties such as low residual limits, less toxicity and improved food quality. It degrades in soil within two weeks of application and has low potential to volatize in atmosphere. Propargite is sprayed directly on plants or injected in them. Hence, it is considered as one of the most suitable pesticides for rice, maize, fruits, garden plants, lawns and rangelands. Owing to these versatile uses of propargite, it is said to be compatible with the Integrated Pest Management Program (IPM).

In spite of various drivers driving the market growth, severe environmental regulations related propargite are likely to hinder the market growth. Symptoms of exposure and poisoning to propargite are eye and skin irritation. In addition to this, propargite also causes sensitization. It is highly toxic to amphibians, fish, and zooplankton. Propargite causes potential carcinogenity. Propargite is considered as hazardous and poisonous pollutant, which, if released in the atmosphere may ultimately result in death of all the living organisms. This safety issue can be considered as a restraint for the overall propargite market demand. The use of biopesticides can be deemed as a potential substitute in near future.

Propargite Market: Region-wise Insight

In terms of global demand, Asia Pacific is expected to attain the leading position in the propargite market over the forecast period. Currently, China stands as the largest importer of propargite. Moreover, with an increase in production of propargite in the past few years, China is likely to be the leader in the propargite market in the near future, followed by India and Japan owing to a fast paced demand.

The U.S. and Germany are the leading propargite producing countries in North America and Europe respectively. They are expected to show similar trend over the forecast period. The U.S. is considered as a mature market for propargite imports. However, the export markets are estimated to show a slow growing demand in next few years. Europe is anticipated to decline in domestic as well as the global propargite market. Other European countries such as France and Italy are likely to become the largest consumers. Rest of the world region, especially Africa is estimated to show potential markets over the coming years.

Propargite Market: Key Players

At present, manufacturers such as Bayer Crop Science AG, Drexel Chemical Company, Gujarat Pesticides Private Limited and Kenvos Biotech Company Limited dominate the propargite market.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Propargite Market

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