Agricultural sector is satisfying the need of the world by supplying food. It is one of the prominent sectors in the world. Chlorothalonil is a non-systematic fungicide and pesticide used to spray on crops to prevent them from disease and maintain their healthy life furthermore chlorothalonil is used as wood protectant to prevent the wood from decay due to which chlorothalonil is largely used in furniture industry. Growing demand of furniture across the globe projected to propel the chlorothalonil market. Chlorothalonil also used to prevent leather from mould and mildew attack. Moreover it is used as preservative additive in paints, resins, coating and emulsion. The growing paints and coating industry to boost the sales of chlorothalonil.
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Rise in Pesticides Industry likely to Support the Demand for Chlorothalonil Market
The rise in demand for the agrochemical sector, furniture industry, and leather industry is likely to upsurge the demand for the chlorothalonil as effective against fungus and other plant diseases.
Rising focus towards the eradication of crop production losses and increase the nutritional qualities of the product is further expected to aid market growth for chlorothalonil in coming years. Development of nano-pesticides to reduce the effect of pesticide application on environment are anticipated to positively influence the global pesticides market. Moreover, increase in demand in furniture industry due to rapidly flourishing infrastructure is likely to boost the demand for chlorothalonil market.
Segmentation of chlorothalonil market
Chlorothalonil market is categorized into following segments based on type, application, crop type, and based on geography and end use product.
Based on grade chlorothalonil market segmented in to
- 98 %chlorothalonil
- 96 %chlorothalonil
- 90 %chlorothalonil
Based on form chlorothalonil market segmented in to
- Wettable powder
- Suspended Agents
Based on end use industries chlorothalonil market segmented in to
- Pesticides (Agrochemical) Industry
- Paint industry
- Furniture and Infrastructure Industry
- Other Industry
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East Asia and South Asia creates opportunities for growth of Chlorothalonil market
Geographically chlorothalonil market classified into seven critical regions, North America, Latin America, Europe, East Asia, South Asia, Oceania and the Middle East and Africa. The emerging agrarian economies are going to boost the market growth for chlorothalonil. East Asia and South Asia represents a considerable growth for pesticides products, and the chlorothalonil market expected to grow at a significantly high rate due to the increasing agriculture, furniture and paint industry. East Asia is prominent exporter of the chlorothalonil across the globe. North America and Europe are developed market for chlorothalonil which is projected to showcase steady growth during forecast period.
Impact of COVID-19 of chlorothalonil Market
Agriculture sector is likely to see upsurge in demand after the pandemic situation ends as all the business related to agriculture may change as people are going to become more health conscious, focus is to be provided on supply of quality foods and vegetables demand for chlorothalonil is likely to increase at stable rate. Furniture industry from Asian countries like china are going to move their manufacturing hub to India which is likely to boost the demand for chlorothalonil in Asia and across the globe.
As transport and activities related to various sector has been shut down which has disrupted the supply chain for pesticides, furniture, and paint industry for temporary time due to which demand for chlorothalonil has decreased for short time period.
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Fierce competition among chemical companies likely to support the growth for chlorothalonil market
Tier 1 market players in chlorothalonil market are likely to increase the production capacity as per the demand from agriculture and furniture industry. Region like East Asia is likely to cater increasing demand of chlorothalonil across the world. Key players in chlorothalonil market are ABI Chemicals Germany, AK Scientific Inc., Bayer Crop Science Ltd, Dacheng Pesticide Co Ltd, Gfs Chemical Inc, Rallis India Limited, Syngenta AG and among others.
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