Azoxystrobin Market to Perceive Substantial Growth During 2020
Fungicides
are biocidal chemical compounds which are primarily used to inhibit
the growthof fungi. Fungicides are one of the major chemicals used in
agriculture to counter the fungal infections. Fungicides can be
majorly classified in three classes based on the mode of action as
contact, systemic and translaminar fungicides. Azoxystrobin belongs
to the class of systemic fungicides as it is taken up through the
xylem vessels. Azoxystrobin is typically used in fruits and
vegetables for preventing the fungal infection. The growth in
agriculture industry across the globe is anticipated to drive the
market for azoxystrobin in the next six years. The demand for
azoxystrobin and in general fungicide is expected to remain moderate
in developed regions owing to the several restrictions imposed on the
fungicides. On the other hand, developing economies across Asia
Pacific region such as India and China are expected to have rising
demand for fungicides in the next few years.
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Azoxystrobin
belongs to the chemical family of Strobilurins. They are based on
naturally occurring anti-fungal compounds. Azoxystrobin is one of the
most recognized fungicides as it has a broad spectrum of anti-fungal
properties against diseases including oomycota (infecting grapes),
deuteromycota (infecting rice) and ascomycota (affecting numerous
field crops and vegetables).
Azoxystrobin
is typically sold in the water formulation or as a suspension
concentrate in numerous concentrations. Azoxystrobin in general
applied as a foliar spray as azoxystrobin has an extensive residual
effect. Azoxystrobin acts as a systemic fungicide and has a curative,
translaminar and preventative mode of action. The effective mode of
action of azoxystrobin makes it essential fungicide in field crops,
grapes and banana. Moreover, the toxicity level of azoxystrobin being
moderate for mammals, bees, insects, birds and earthworms as
azoxystrobin is easily broken in sub-components once applied through
soil.
Azoxystrobin
is widely used in farming, particularly in wheat farming as it
provides strong protection to wheat crops against several types of
diseases such as wheat septoria, septoria leaf spot, wheat leaf rust,
rye leaf rust and powdery mildew. The wide range of fungicidal
properties of azoxystrobin is expected to act as a major driver for
azoxystrobin market in agriculture industry in the next six years.
However, the aquatic toxicity of azoxystrobin is considerably high,
posing a great threat to aquatic animals. This factor is anticipated
to act as a potential restraint to azoxystrobin market in the next
few years.
The
developing economies across Asia Pacific region are anticipated to be
the fastest growing market for azoxystrobin in the next few years.
The main reason for this is the rising demand for fungicides to
control the growth of fungi and related problems associated with
spread of infection through it. Moreover, the demand for azoxystrobin
is expected to remain high in the countries such as China and India
due to growing need for better yield for fulfilling the increasing
food demand from the constantly escalating population. In addition to
developing nations, developed economies are concentrating on
attaining highest agriculture output from the available cultivable
land.
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Presently,
azoxystrobin is approved for use on a wide variety of crops in the
UK, including barley, asparagus, broccoli, onions, carrots,
cauliflowers, cabbages, potatoes, rye, triticale, vining peas and
wheat. Additionally as azoxystrobin is effective against numerous
classes of fungi, makes azoxystrobin an economical solution for
treatment of various types of fungi. All these factors are creating
a positive prospect for the global fungicide industry in general.
This reason is expected to have a positive impact on azoxystrobin
market thus, boosting the demand for azoxystrobin fungicide across
the globe. Some of the major manufacturers of azoxystrobin fungicide
are Syngenta and Cheminova, Inc. USA.
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