Acaricides Market Analysis, By Type (Chemical (Organochlorine, Organophosphorus, Others) and Natural), By Application (Agriculture, Animal Husbandry, Industrial, and Others), By Mode of Application (Spray, Dipping Vat, Hand Dressing, and Others), and Regional Forecast, 2024-2032

Acaricides are pesticides or crop protection chemicals formulated to destroy the attack of mites or ticks in farms. The spread of mites or other pests can seriously threaten the quality of agricultural produce, building a lot of pressure on the growers. The application of chemical acaricides with new modes of action is recognized as one of the ideal methods to stop the occurrences of tick-borne diseases. 

Acaricides contain active ingredients such as permethrin, cyfluthrin, and pyrethrin, which are helpful in controlling the infection caused by ticks at homes or other premises. These properties are fueling the product demand from farmers across the globe. However, acaricides impart some harmful effects to the produce. Therefore, naturally originated products such as neem or clove are used for product development.

The product usage has been increasing rapidly over the last few years due to the growing awareness about the importance of animal husbandry and enhanced productivity due to the extensive benefits of acaricides. Moreover, factors such as high-efficiency and government initiatives, including different strategies and schemes to promote product usage, are augmenting the global acaricides market size. However, the high raw material cost and certain stringent regulations by government agencies in some countries may hinder the market growth.

Impact of COVID-19 on the Acaricides Market

The outbreak of the COVID-19 pandemic has significantly affected the demand for agrochemicals in the market. To curb the spread of coronavirus, the governments imposed a worldwide lockdown, which has negatively impacted the mass-production and distribution chain across the globe. The rising cases and increased shortage of labor, combined with closed production facilities, led to poor production amid the pandemic period. However, the surging demand for safe quality produce and the rise in sustainable agricultural practices, offered positive opportunities for farm products.

Key Insights

The report will cover the following key insights:

• Overview of parent/related market


• Partnerships, mergers, and acquisitions by key market players in the acaricides market


• Key trends and innovation


• Regulatory analysis


• Impact of COVID-19 on acaricides market

Analysis by Application

Based on application, the global market is segregated into agriculture, animal husbandry, industrial, and others. Of these, the agriculture sector is expected to hold the maximum revenue owing to the rising demand from farmers for effective solutions in the agri-business. Some of the majorly used crop protection solutions include organophosphorus compounds, neonicotinoids, lactones, and organochlorine compounds. Growing economies and the increased demand for high value-added yields are the crucial factors attracting farmers’ attention from across the globe.

Regional Analysis

Due to the rapid evolution, Asia Pacific acaricides market share is anticipated to witness prominent growth over the forecast period. The rise in sustainable agricultural practices demand natural products. Another pivotal factor impelling regional growth is the increasing awareness about environmental concerns.

The Europe market size is expected to surge at a considerable pace in the upcoming years. This is due to the surging demand from growers and the increasing expansion of agri-industries in the region. These factors are estimated to propel the global acaricides market growth.

Key Players

The report includes the profile of key players such as FMC Corporation (U.S.), BASF SE (Germany), Bayer AG (Germany), Chemtura Corporation (U.S.), Syngenta AG (Switzerland), Tata Chemicals (India), Acaracide India Private Limited (India), PI Industries (India), and Merck & Co., Inc. (U.S.).

Segmentation

Key Industrial Developments

• June 2020: BASF introduced a new acaricide, Nealta, which actively destroys all the stages of eggs and immature adults. The product contains one of the active ingredients, cyflumetofen, and is recommended mainly for food crops such as apples and protected strawberries.


• March 2020: Ori Agro launched a new acaricide, Oroganic, used to preserve food crops such as tomatoes, bell peppers, and cucumbers. The product is responsible for killing the growth of pests such as spiders, thrips, mites, and mealybugs.