Chemicals and Materials Global Fungicides Market (2016-2024)- Research Nes | Page 7

On the basis of synthetic type, the triazoles segment is expected to
project a highest CAGR by the end of 2024 owing to low cost.
Furthermore, cereals & grains by crop type segment accounted for the
largest market share in 2016. Likely, cereals & grains are estimated to
grow at a highest CAGR by the end of 2024 owing to the increased
awareness regarding their nutritional benefits.
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In terms of geography, Europe region in 2016 accounted for the highest
market share of 36% of the overall fungicides market. Europe is
anticipated to witness significant growth owing to the increase in use of
fungicides through advanced agricultural techniques. Moreover, Western
European countries are the major countries attributing towards the
growth of fungicides market. In addition to this, presence of major
fungicides vendors in the region is envisioned to foster the growth of
fungicides market by the end of 2024.
Asia-Pacific region accounted for the second largest market of
fungicides owing to favorable government initiatives to increase the crop
yield and to enhance quality of the crop. The major countries witnessing
the augmented demand for fungicides are Japan, China and India.
Additionally, China is the dominating country in this region owing to
growing population and rise in need for food security. North America
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