Propanil Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

Propanil Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

  • Transparency Market Research
  • Ongoing
  • Chemicals

Report Description

Propanil Market: Overview

Propanil is a chemical known for its use as herbicide, primarily on paddy crop. Propanil is a contact herbicide which is usually applied to the foliage and plant parts above the ground. Propanil also acts as a selective herbicide, which cause no damage to rice, but might damage other plants or crops. It is a compound which helps to inhibit and neutralize the growth of unwanted weed in paddy fields. The main application for propanil is as herbicide, where it competes with chemicals such as butachlor, thiobencarb and 2,4-D among others. It is generally applied in the form of an aqueous spray or suspension. Propanil functions by inhibiting the growth of weeds, which hamper the quality of rice crop. Propanil acts by building up a toxic substance inside the weeds, which eventually kills the plant. 

Propanil Market: Demand Drivers

Herbicides are in high demand in the agriculture sector, as it is essential to protect crops from fungal infections, which often weaken and stunt the growth of crops. Application of herbicides of crops ensures higher yield by neutralizing the threat posed by growth of weeds. Propanil market is a subset of herbicide market and its growth dynamics are related to the growth of herbicides market. The primary driver of the herbicide market is the demand for higher food production amidst growing global population and diversified food preferences.

The main crop types which account for the majority of propanil use is paddy. Rice crop has experienced high demand growth with increasing population especially in Asia Pacific region and Sub-Saharan Africa. In order to comply with the high demand, farmers across the world have adopted various methods to increase yield and profitability. Higher use of propanil is one of the many measures undertaken to improve food quality and yield.

Propanil Market: Growth Restraints

Although herbicides are extremely important for the growth of healthy plant, it has certain restraints. Propanil being a selective herbicide, is safe to use in paddy. However in some cases it might destroy paddy as well. Propanil is moderately toxic in nature, however the extent of precaution required to prevent environmental toxification is yet to be determined. Prolonged dermal exposure leads to skin irritation. However, the toxicity of propanil is lower than most of its counterparts, which provides an incentive to growth for the chemical. Propanils growth is restricted to use in paddy fields and are not useful for other crops.

Propanil Market: Region-wise Insight

The demand for propanil base herbicide is highest in Asia Pacific region followed by Latin America, Africa, North America and Europe. The market is also expected to exhibit highest growth from Asia Pacific and Latin America regions in the near future owing to increased investment in agriculture and high demand for rice in this region. Rice being one of the main staple food across the world, generates high demand for propanil herbicide.

The top countries by rice produce are China, India, Bangladesh, Vietnam, Thailand, Myanmar, Brazil and Japan. China is the largest manufacturer of propanil herbicide. Almost 75% of China’s produce are exported. High capacity addition is prevalent in China on the back of rising overseas demand for the chemical.

Propanil Market: Key Players

Some of the major companies operating in the propanil market are Bayer CropScience, SinoHarvest, Kenvos Biotech Co. Ltd., Willwood USA, and Westrade Guatemala S.A. among many others.

The report offers a comprehensive evaluation of the market. It does so via in-depth insights, understanding market evolution by tracking historical developments, and analyzing the present scenario and future projections based on optimistic and likely scenarios. Each research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology developments, types, applications, and the competitive landscape. 

The study is a source of reliable data on:

  • Key market segments and sub-segments
  • Evolving market trends and dynamics
  • Changing supply and demand scenarios
  • Quantifying market opportunities through market sizing and market forecasting
  • Tracking current trends/opportunities/challenges
  • Competitive insights
  • Opportunity mapping in terms of technological breakthroughs 

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, North Africa) 

TMR estimates the market size of various sectors using a combination of available data on the number and revenue of companies within each sub-sector and tiers of companies. The basic components used to determine market size and forecast for a specific product area are not only limited to supply-side data, but are also related to demand, industry trends, and the economic outlook. All the above data points are utilized to generate a statistical model targeting the sector marketplace. More than 300 TMR analysts across the world integrate these elements into a framework to determine the subsector market size for a base year and then forecast growth within each market. 

TMR regularly interviews technology and business professionals as an ongoing effort to track the latest developments within each sector. These continuous surveys are stratified by company size and industry segment and weighted to reflect the global market place.  All data are collected on an ongoing effort through a structured questionnaire rolled over the web or conducted via telephones. This provides the TMR team opportunities to request for detailed question sets, complex skip patterns, and real-time calculations, which assists respondents in answering questions involving numbers and percentages. Respondents, who are interviewed as experts, are screened and qualified based on certain criteria in addition to their decision-making authority and the scope of activity within their organizations.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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