DUBLIN--(BUSINESS WIRE)--The "North America Metalaxyl-M Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Form, Crop Type, and Mode of Application" report has been added to ResearchAndMarkets.com's offering.
The North America metalaxyl-M market was valued at US$ 12,415.90 thousand in 2022 and is projected to reach US$ 16,469.97 thousand by 2028; it is expected to grow at a CAGR of 4.8% from 2022 to 2028.
Metalaxyl-M is the biologically active enantiomer (R-form) of the isomeric compound metalaxyl and consists of a minimum of 97% of the R-enantiomer and 3% of the S-enantiomer. The diverse application of metalaxyl-M in the agriculture industry has widened the market scope of metalaxyl-M.
North America is one of the major regions for agriculture production across the globe and agriculture plays a key role in the GDP growth of the countries in the region. Metalaxyl-M is used to control diseases caused by air- and soil-borne pathogens. The major factor driving the metalaxyl-M market in North America is a surge in the usage of metalaxyl-M in seed and soil treatment.
It penetrates the seed coat and is systemically translocated to both shoots and roots during germination, providing protection from plant diseases. In soil treatment, metalaxyl-M is employed to make contaminated soil suitable for agricultural and other purposes. Soil contains chemicals and wastes such as oil, alkali, and other nondegradable materials, which can be treated using microbes. Metalaxyl-M provides an excellent level of efficacy during soil treatment.
Additionally, there is a high demand for metalaxyl-M for foliar spray application. The COVID-19 pandemic caused fluctuation in raw material prices required for the manufacturing of metalaxyl-M to some extent in North America. Various factors, such as labor cost, and demand and supply, cause fluctuations in raw material prices. These fluctuations create an adverse impact on market growth.
Based on crop type, the North America metalaxyl-M market has been segmented into cereals and grains, oilseeds and pulses, fruits and vegetables, and others. The fruits and vegetables segment held the largest share in the North America metalaxyl-M market in 2021.
The development of new technology to increase the sustainability of the production systems and improve the final quality of fresh produce in the fruits & vegetables industry is driving the demand for highly efficient fungicides. Manufacturers offer metalaxyl-M to control and prevent diseases caused by Phycomycetes and maintain the nutritional quality of crops. Furthermore, drought is one of the most important abiotic stresses that adversely affect the yield and nutritional quality of major vegetable crops across North America. Therefore, the rising need to maintain nutritional quality in crops under drought stress would offer lucrative opportunities to the North America metalaxyl-M market.
Based on country, the North America metalaxyl-M market has been segmented into the US, Canada, and Mexico. In 2021, the US held the largest revenue share of the North America metalaxyl-M market. Agriculture is a major industry in the US, which is also the net exporter of food. The growing use of metalaxyl-M in the agriculture industry is creating a demand for metalaxyl-M in the country.
Market Dynamics
Drivers
- Increasing Use of Seed Treatment Products
- Better Fungicidal Performance of Metalaxyl-M
Restraints
- Development of Resistance in Some Fungal Strains
Opportunities
- Novel Production Techniques and New Product Launches
Future Trends
- High Agrochemical Use and Less Stringent Regulations in US
Companies Mentioned
- Syngenta AG
- SPEX CetriPrep, LLC
- ChemScene LLC
- Chem Service, Inc
- Croda International Plc
- Albaugh LLC
- Toronto Research Chemicals
- Yifan Biotechnology Group Co., Ltd
- Nufarm
- Control Solutions, Inc.
- Atticus, LLC
For more information about this report visit https://www.researchandmarkets.com/r/uukwx
