AgroPages-Global acaricides market to grow by 5% to $275.1 million by 2019-Agricultural news

Global acaricides market to grow by 5% to $275.1 million by 2019

The report “Acaricides Market by Type, by Application, by Mode of Action & Geography - Trends & Forecasts to 2019” shows the acaricides market was worth $195.8 million in 2013, and is estimated to be valued at $275.1 million by 2019, at a projected CAGR of 5.2% from 2014.

The Asia-Pacific region is estimated to be the largest consumer of acaricides in the world, followed by Europe. China is estimated as the largest market in the Asia-Pacific, having captured around 44% of the total market in the region, in 2013.

This market is growing steadily due to an increase in the usage of crop protection chemicals to control the spread of ticks and mite-borne diseases. The demand-driving factors of this market are developments in the crop protection industry and the rise in demand for meat and dairy products. The restraining factors are the regulatory restrictions in some countries and the rising cost of acaricides.

Key participants in the acaricides market are BASF SE, Arysta LifeScience, Bayer AG, DuPont (U.S.), and FMC Corporation. The acaricides market is witnessing rapid development in the areas of new product launches, with a focus on increasing the availability of various acaricides in the market and also on increasing their global market share.