According to a newly published report, the global dicamba market is anticipated to exhibit robust growth over the next few years. During a four-year forecast period 2016-2020, the market is likely to expand at a CAGR of 15.4%, attaining a value of over US$ 457 Mn by 2020 end.
Dicamba has enjoyed a long and productive life in the weed control world. Now, dicamba is being prepared to take center stage in the next battle against Glyphosate-resistant weeds that have significantly compromised the effectiveness of the standard Roundup Ready System. An entirely new program featuring a new trait and a dicamba formulation “face lift” is being prepared that will provide a new weed control option for your growers.
Widespread availability of dicamba and easy usage primarily support the market for decamba across developed regions. Increasing awareness about efficient crop protection will provide an impetus to the dicamba market in developing countries.
Swelling Awareness about Crop Protection Remains Primary to Drive Demand
Increasing need for food security and safety, coupled with growing awareness about crop protection will benefit the market for dicamba globally. As dicamba supports maximum crop yield with minimised crop loss, this will continue to be the key driver to dicamba herbicide market.
Growing Adoption to Replace or Complement Glyphosate Continues to Drive Market
Dicamba herbicide is rapidly replacing glyphosate. In some regions, agricultural practices involve the usage of dicamba and glyphosate in combination. This will remain a major factor bolstering the demand for dicamba herbicide over the forecast period.
EPA Approval for Non-volatile Dicamba Will Spur the Demand and Application
Recently, in November 2016, the U.S. Environmental Protection Act (EPA) approved over-the-top usage of Monsanto’s non-volatile dicamba-based herbicide. This will certainly create a wide range of growth opportunities for established as well as newly entering players in the global dicamba market. Manufacturers can capitalise on an opportunity to formulate several types and forms of dicamba to deal with different types of crops and weeds.
Challenges May Persist despite EPA’s Approval to Dicamba-based Herbicide
Volatility of dicamba has been found to be the key cause for drift damage, which may continue to be a key restraint to mass adoption of dicamba over the next few years. This may remain a major limiting factor detaining the penetration of dicamba herbicide in emerging economies.
Two of the Market Leaders Sign the Dicamba Supply Agreement for North America
Some of the key players operating in the global dicamba market are BASF SE, Monsanto Co., E I du Pont de Nemours & Company, Bayer AG, The Dow Chemical Company, Syngenta AG, and Nufarm Limited. Two of the leading U.S.-based companies manufacturing agrochemicals and supplying seeds - Monsanto Co. and DuPont, recently announced a supply agreement that will continue for the next few years, especially for dicamba sales across the U.S. and Canada.
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