Mancozeb Market Dynamics, Size, and Trends by 2030

[Research Report] The mancozeb market size was valued at US$ 1,148.81 million in 2022 and is projected to reach US$ 1,569.57 million by 2030; it is expected to record a CAGR of 4.0% from 2022 to 2030.

MARKET ANALYSIS

Mancozeb is a widely used fungicide and protectant in agriculture and horticulture applications. The chemical compound belongs to the ethylene bis dithiocarbamate (EBDC) class. Mancozeb is known for its broad-spectrum fungicidal properties, making it effective against a wide range of fungal diseases that affect crops. It works by inhibiting fungal growth and development, ultimately protecting plants from infection. This fungicide is often applied as a foliar spray, seed treatment, or mixed into the soil depending on the crop and the specific disease to be controlled. It is also used in turf management for disease prevention on golf courses, lawns, and sports fields. Mancozeb forms a protective barrier on plant surfaces, preventing fungal spores from germinating and spreading. It is commonly used on various crops, including vegetables, fruits, and grains.

GROWTH DRIVERS AND CHALLENGES

Increasing use of mancozeb for crop protection and yield improvement is the leading factor driving the market. Pesticides, which are used to control insects and weeds, are indispensable in agricultural practices. According to the article "Agricultural Development, Pesticide Application, and Its Impact on the Environment," there would be a 78% loss in fruit production, a 54% decrease in vegetable production, and a 32% decrease in cereal production. This implies the critical role of pesticides in reducing diseases and increasing crop yields. The United Nations estimates that the global population will increase by 2 billion people in the next 30 years; it will increase from 8 billion in 2022 to 9.7 billion by 2050. The population would peak at ~10.4 billion in the 2100. It has also led to a surge in the agricultural sector due to increasing food demand. With a rise in the global population and a consequent rise in the demand for food, agriculturists across the world are focusing on modifying farming practices to obtain high crop yields from smaller cultivation areas. Thus, crop protection and yield enhancement are the key focus areas of the agricultural sector, which signifies the continuous need for fertilizers and pesticides in farming.

Mancozeb enhances crop protection by effectively controlling a wide range of fungal pathogens. This capability provides farmers with a reliable means to safeguard their crops from diseases such as late blight, downy mildew, and rust. With the rise in global food demand, the protection of crops becomes paramount, and mancozeb plays a crucial role in ensuring that crop losses due to fungal infections are minimized. In addition, the use of mancozeb contributes to yield improvement. Preventing or mitigating the damage caused by fungal diseases allows crops to grow more vigorously and produce higher yields. This has a direct positive impact on a farmer's income and food production capacity. Yield improvement is a key factor in addressing the growing global population's demand for food, significantly aiding in the growth of the mancozeb market. However, government regulations play a crucial role in shaping the dynamics of the mancozeb market to ensure public safety, environmental protection, and effective pest control. Mancozeb is a broad-spectrum fungicide used in agriculture, and its usage is subject to various restrictions and guidelines. This leads to a decrease in demand for mancozeb, thereby hindering the market expansion.

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Mancozeb Market: Strategic Insights

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REPORT SEGMENTATION AND SCOPE

The "Global Mancozeb Market Forecast to 2030" is a specialized and in-depth study with a significant focus on the global mancozeb market trends and opportunities. The report aims to provide an overview of the market with detailed market segmentation based on form, mode of application, crop type, and geography. The global mancozeb market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the use of mancozeb worldwide, along with their demand in major regions and countries. In addition, it provides a qualitative assessment of various factors affecting the mancozeb market performance in major regions and countries. The report also includes a comprehensive analysis of the leading market players and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative mancozeb market opportunities that would, in turn, aid in identifying the major revenue pockets.

Ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global mancozeb market, which helps understand the entire supply chain and various factors affecting the market growth.

SEGMENTAL ANALYSIS

The global mancozeb market is categorized on the basis of form, mode of application, and crop type. In terms of form, the market is bifurcated into dry and liquid. By mode of application, the market is segregated into foliar spray, soil treatment, and seed treatment. By crop type, the market is segregated into fruits & vegetables, cereals & grains, oilseeds & pulses, turf & ornamentals, and others.

Based on form, the dry segment held a significant global mancozeb market share in 2022. Dry mancozeb, often referred to as a dry flowable formulation, is a widely used fungicide in agriculture and horticulture. By mode of application, the foliar spray segment led the global mancozeb market with a larger market share in 2022. Foliar spray applications of mancozeb are widely used in agriculture and horticulture to protect plants from fungal diseases. By crop type, the fruits & vegetables segment led the global mancozeb market with the larger market share in 2022. In fruit & vegetable farming, mancozeb is used to combat a wide array of fungal pathogens. Fungal diseases such as blight, mildew, and rust can severely damage fruits & vegetables, leading to significant yield losses.

REGIONAL ANALYSIS

The report provides a detailed overview of the global mancozeb market with respect to five major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America. Asia Pacific accounted for a significant part of the global mancozeb market share and was valued at ~US$ 500 million in 2022. The mancozeb market in Asia Pacific is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China is a significant contributor to the market growth in this region. The country has been the largest and fastest-growing agriculture industry for more than a decade. Europe is also expected to witness notable growth, reaching approximately US$ 150 million by 2030. Furthermore, in North America, there has been a widespread usage of mancozeb. This has created lucrative opportunities in the mancozeb market. The mancozeb market in North America is expected to grow at a CAGR of ~3% from 2022 to 2030.

INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES

Partnerships, acquisitions, and new product launches are a few prominent strategies adopted by the players operating in the global mancozeb market.

• In June 2023, Corteva Agriscience opened its first combined crop protection and seed research laboratory in EMEA. With almost US$ 6.31 million (EUR 6 million) of investment, the expansion of the R&D site in Eschbach, Germany, enabled Corteva Agriscience to conduct state-of-the-art crop protection studies to develop solutions that protect crops from pests and diseases.
• In March 2023, Corteva, Inc. successfully acquired Symborg (a microbiological technologies company based in Murcia, Spain) and Stoller (an independent company in the biologicals industry based in Houston, Texas, the US).
• In Jan 2022, Sumitomo Chemical Co Ltd announced its plans to acquire FBSciences Holdings Inc. The acquisition is due and is subject to completion following the prescribed procedures.

Mancozeb Market Regional Insights

The regional trends and factors influencing the Mancozeb Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Mancozeb Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Mancozeb Market Report Scope

Mancozeb Market Players Density: Understanding Its Impact on Business Dynamics

The Mancozeb Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Mancozeb Market are:

1. Hebei Enge Biotech Co Ltd
2. Ningbo Generic Chemical Co Ltd
3. Natursim Science Co Ltd
4. UPL Ltd
5. Coromandel International Ltd

Disclaimer: The companies listed above are not ranked in any particular order.

IMPACT OF COVID-19 Pandemic/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION

Lockdowns, travel restrictions, and business shutdowns due to the COVID-19 pandemic adversely affected economies and industries in various countries across the globe. The crisis disturbed supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. These disruptions restricted the availability of mancozeb. It caused delays in production and increased costs, negatively impacting the overall supply of mancozeb. Many manufacturing facilities were temporarily halted or scaled back during the COVID-19 pandemic to comply with lockdown measures and ensure the safety of workers. In addition, the pandemic impacted the global economy, leading to fluctuations in commodity prices and reduced demand for fungicides.

The global marketplace is recovering from the losses as governments of different countries have announced relaxation in the restrictions. Manufacturing activities are rebounding as countries gradually recover from the pandemic and vaccination efforts continue. Manufacturers are permitted to operate at full capacity to overcome the supply gap. Thus, the global mancozeb market is anticipated to grow significantly during the forecast period.

COMPETITIVE LANDSCAPE AND KEY COMPANIES

Hebei Enge Biotech Co Ltd, Ningbo Generic Chemical Co Ltd, Natursim Science Co Ltd, UPL Ltd, Coromandel International Ltd, Zhejiang Rayfull Chemicals Co Ltd, Indofil Industries Ltd, Limin Group Co Ltd, Sumitomo Chemical Co Ltd, and Corteva Inc are a few of the key players operating in the global mancozeb market.