Butachlor Market

Global Butachlor Market Size (2024 to 2029)

The butachlor market size was estimated at USD 251.34 million in 2023, and reach USD 264.28 million in 2024, and is expected to reach USD 341.85 million by 2029, grow at a CAGR of 5.26% from 2024 to 2029.

Butachlor is a kind of organic herbicide that belongs to the group of acetanilide that can be used as a pre-emergent against grass. In addition to this, it is a systematic herbicide that acts as a protein synthesis inhibitor and also leads to metabolic dysfunction in the targeted weeds. Besides, it is primarily absorbed by germinating stem shoots and secondarily by weed roots that grow on pre-planted arable croplands. This herbicide is toxic to aquatic life and has low bioaccumulation potential, it decomposes into toxic gases at high temperatures and the exposure may cause pneumonitis on inhalation, nausea, vomiting as well as diarrhea. The butachlor market value is expected to increase more during the outlook period due to the loss of arable lands.

Market Driving Factors

One of the major driving factors of the butachlor market is the rapid growth of demand for food because of the growing population and reduced arable land in different parts of the world. This butachlor can be used in various crops, including wheat, barley, rice, cotton, corn, chilies, sugar beet, etc., which was widely used in various places across Asia Pacific nations like Taiwan and Southeast Asian countries for rice farming. The rise in disposable income and purchase power parity are some other major driving factors of the butachlor market revenue rate in the next few years.

Market Challenges

Strict regulations from the government authorities about the butachlor is one of the major restraints affecting the growth of the market. Another major limitation to the development of the butachlor market was the opposition of chemicals used in agriculture. Most of the farmers are moving to organic farming and the development of better and less harmful substitutes are some of the restraints affecting the growth of the market of Butachlor.

The rise in awareness about the harmful effects of Butachlor is also one of the major challenges which hamper the growth of the revenue rate. Another hindering factor of the global Butachlor market was the threats posed by the usage of butachlor to human health and the environment.

COVID-19 impact on Butachlor Market

Due to the coronavirus pandemic, all the companies are suffering in the areas of production and demand, along with supply chain and market disruption and financial impact. Several companies have halted their production units because of the strict lockdown regulations imposed by the government authorities. Almost all the companies have closed and due to the financial crisis since March 2020, they have terminated employees because of their inability to pay salaries to them and are also facing severe financial problems due to the COVID-19 pandemic.

Slowly, all the countries have lifted the lockdown and given permission to the companies to restart their operations with stringent rules and regulations. Major companies have restarted their manufacturing units in turn started the supply chain of their products and helped them to recover from the unexpected financial crisis. In the field of Butachlor market, the companies related to the market were expecting to record some profits in the next two to three years with an increase in demand for food in Asian countries due to the surge in population.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Butachlor Market By Type

• Generated by DEA and paraformaldehyde
• Generated by Ketene

Global Butachlor Market By Application

• Rice crop
• Wheat
• Barley
• Beet
• Cotton
• Peanut

Among these, the rice crop segment holds the major share of the market especially in the Asia Pacific region due to the growth in population and is also expected to hold dominance during the outlook period.

REGIONAL ANALYSIS

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa.

Among these regions, Asia Pacific holds the major share of the Butachlor market owing to the significant growth in revenue due to the rising population especially in some countries like India, China, Japan, Indonesia, and Thailand. Also, increasing demand for food in emerging countries like India and China is helping the growth of the revenue rate in Asia Pacific region.

North America holds the second-largest share of the market of Butachlor due to the rise in disposable income in the United States, Mexico, and Canada. However, stringent government regulations hamper the growth of the market of Butachlor in North American nations.

European region is expected to record an increase in market growth during the forecast period because of the rapid increase of population in countries like Germany, Italy, and Spain. Furthermore, reducing of arable lands across the European area propels the growth of the butachlor market in this locale.

KEY MARKET PLAYERS

Some of the key players of the global Butachlor market are Qingfeng Agro-chemical, Binnong Technology, Syngenta AG, SinoHarvest Corporation, Dow AgroSciences, Bayer CropScience, Shanghai Tenglong Agrochemical Co. Ltd., Monsanto, Shanghai Mingdou Agrochemical Co. Ltd., Zhejiang Rayfull Chemicals, Nantong Jiangshan Agrochemical & Chemicals Co. Ltd., Green Land.