ALBANY, New York, November 2, 2016 /PRNewswire/ --
The top two players in the global Agricultural Disinfectant Market - The Dow Chemical Company and The Chemours Company - together accounted for over 55.0% of the market in 201, hinting at an immensely consolidated vendor landscape. The presence of various multinational as well as local companies makes this a highly competitive market, says Transparency Market Research.
Players have been engaging in collaborations and research efforts in order to strengthen their role in the agricultural disinfectants market. A case in point would be the Dow Chemical Company, the leading company in this market. In 2015, Dow Agro Sciences collaborated with Radiant Genomics on R&D activities that focus on developing natural products for crop protection.
The opportunity in the global agricultural disinfectants market was pegged at US$1.7 bn in 2015. This is anticipated to rise to US$2.5 bn by 2024, expanding at a CAGR of 4.4% therein.
Browse Latest Agricultural Disinfectant Market Research Report with ToC: http://www.transparencymarketresearch.com/agricultural-disinfectant-market.html
Liquid Agricultural Disinfectants Dominate Global Market
On the basis of form, the agricultural disinfectant market is segmented into powder, liquid, and others, which comprises granules and gels. Accounting for a share of 48.5% in 2015, the liquid segment is the clear leader owing to low cost, easy availability, and growing demand. The liquid agricultural disinfectants segment is projected to register a 4.9% CAGR from 2016 to 2024, higher than any other segment.
By application, the land segment held the dominant share in 2015 and is also anticipated to exhibit a strong growth rate through 2024. By end use, livestock farms lead the market in terms of revenue, closely followed by agricultural farms. On the basis of geography, North America emerged as the leading segment with a 33.23% share in 2015. Asia Pacific, on the other hand, will register a high CAGR of 5.6% from 2016 to 2024.
Untapped Potential of APAC Highlights Bright Future of Agricultural Disinfectant Market
With the soaring demand for meat and meat products around the world, maintaining the health, hygiene, and well-being of high-producing animals such as cattle and poultry has gained priority. Cleaning and disinfecting livestock farms has become imperative to prevent the outbreak of diseases. "A focus on routine cleanliness and the use of effective agricultural disinfectants has thus emerged as a key factor driving this market," the lead analyst says.
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Considering the fact that Asia Pacific possesses immense untapped potential as far as the agricultural disinfectant market goes, players in this market have been recently focusing in countries such as India and China. "These nations offer business expansion opportunities, keeping in mind a rise in the disposable income of the consumers and an increase in the demand for meat products," the author of the report states.
On the down side, low awareness among farmers in several underdeveloped nations poses a major challenge for the global agricultural disinfectants market. "Farmers often lack sufficient knowledge regarding the proper usage of disinfectants and this results in either lower adoption rates or high rate of wastage," the analyst points out.
Moreover, the possible harmful effects of agricultural disinfectants has also led to manufacturing companies refraining from taking up new projects. This is likely to hamper the overall market.
This review is based on the findings of a TMR report titled "Agricultural Disinfectant Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024."
Global Agricultural Disinfectant Market, by Forms
- Others(Gel, Granules)
Global Agricultural Disinfectant Market, by Application
- Water Sanitizing
Global Agricultural Disinfectant Market, by End Use
- Agricultural Farms
- Livestock Farms
Global Contact LensMarket, by Geography
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East & Africa
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SOURCE Transparency Market Research