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.
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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.
The report has been compiled through extensive primary research( through interviews, surveys, and observations of seasoned analysts) and secondary research( which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’ s value chain.