The global paclobutrazol market was valued at USD 2.40 billion in 2023 and is anticipated to reach USD 2.52 billion in 2024 from USD 3.79 billion by 2032, growing at a CAGR of 5.2% from 2024 to 2032.
Paclobutrazol is a triazole plant growth regulator or fungicide that supports pruning in different plants & trees and controls vegetative growth. The primary function of this fungicide is to regulate the health & vitality of plants and promote compactness. Furthermore, it blocks gibberellin biosynthesis and reduces ethylene, abscisic acid, & indole-3-acetic acid levels coupled with growing cytokinin levels. Moreover, numerous economic & additional benefits of Paclobutrazol are improved color, fewer seed heads, fewer clipping, deeper roots, and ease of trimming.
The development of the Paclobutrazol market is fuelled by an increase in demand for vegetables and fruits, led by changing dietary patterns. Additionally, the rise in awareness among people towards food security and declining usage of arable land are expected to propel the market growth in the forecast period. Furthermore, growing demand for Paclobutrazol in non-crop applications like ornamental plants and turf is estimated to drive market growth during the aforementioned forecast period. But still, limited awareness about the benefits of Paclobutrazol among farmers is likely to inhibit market growth.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2032 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2032 |
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CAGR |
5.2% |
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Segments Covered |
By Type, Application, Geography, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Bailing Agrochemical, India Pesticides Limited, Jiangsu Sevencontinent Green Chemical, R.V. Agri Corporation, Yancheng Limin Chemical, Yuelian, Rainbow, Jiannong, Jiangsu Luye Agrochemicals, and Canary Agrochemicals Pvt. Ltd and Others. |
Key players in the market include Bailing Agrochemical, India Pesticides Limited, Jiangsu Sevencontinent Green Chemical, R.V. Agri Corporation, Yancheng Limin Chemical, Yuelian, Rainbow, Jiannong, Jiangsu Luye Agrochemicals, and Canary Agrochemicals Pvt. Ltd.
By Type
By Application
By Region
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