The Global Acaricides Market had a market value of USD 0.233 billion in 2016 and is forecasted to exhibit a CAGR of 5.4% and reach USD 0.305 billion by 2021. Acaricides are pesticides that kills members from the Arachnid subclass Acari, which includes ticks and bugs. Acaricides are utilized both in Medicine and Agriculture, although the desired power contrasts between the two fields.
There are various types of acaricides, based on the amount of various chemicals such as zinc, tin, phosphorous, and chlorine. Acaricides are also produced from natural raw materials such as spoiled corn, clove, and neem. These naturally created acaricides tend to be less poisonous in nature. Chemically derived acaricides include organophosphorus and organochlorine.
The Major Driving factors in this market are the rise in efficiency, developments in crop protection industry, and rise in demand for meat and dairy products. The main restraints of the industry are the regulatory restrictions, alternative acaricide sources and rising cost of Raw materials.
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The Acaricides Market is segmented based on Type, Application and Mode of Action. Based on Type, market is segmented into Organochlorine, Organophosphorus, Natural Sources, and Others. Based on Application, market is segmented into Agriculture, Animal Husbandry, Industrial, and Others. Based on Mode of Action, market is further segmented into Spray, Dipping Vat, Hand Dressing and Others.
Based on geography, this market is further segmented in to North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Asia Pacific dominates the Acaricides market, followed by Europe and North America. Asia Pacific is expected to retain its market share during the next few years owing to the growth of agriculture and animal husbandry sectors. Europe follows after Asia-Pacific with second highest share. Further, it is expected to have higher CAGR than North America.
The major key players operating in this market are BASF SE, Bayer AG, FMC Corporation, DuPont, Nissan Chemical Industries. Ltd., Syngenta, Merck & Co., Inc., The Dow Chemical Company, Chemtura Corporation, Arysta Life Science Limited.
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