The Europe acaricides market size was USD 250.16 Million in 2022 and is likely to reach USD 377.24 Million by 2031, expanding at a CAGR of 4.67% during 2023–2031. The growth of the market is attributed to the increasing crop production.
Aracides are pesticides that are utilized to terminate the pests in the crops. It provides economic control of pest mites and ticks. The benefits include protecting and keeping healthy crops from diseases and viral infections. Acaricides are produced from natural raw materials such as clove, spoiled corn, and neem, as they tend to be less toxic in nature.
The COVID-19 led to halt in the production of acaricides, which in turn, hampered the growth of the market. However, relaxation in restrictions has resumed the operations of manufacturing facilities. This, in turn, is anticipated to help the market recover by end of 2021.
Europe Acaricides Market Trends, Drivers, Restraints, and Opportunities
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Growing requirement of solutions to improve crop productivity is anticipated to drive the growth for the market.
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Increasing area under organic farming is estimated to fuel the market growth.
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Rising usage of acaricides in home applications is expected to boost the acaricides market.
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High cost of acaricides and stringent regulatory restrictions can create challenges for the market growth in the projected timeline.
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Inflating demand for acaricides has compelled producers to undertake the expansion and acquisition projects in order to meet the global demand.
Scope of Europe Acaricides Market Report
The report on the Europe acaricides market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Europe Acaricides Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Type (Organophosphates, Carbamates, Organochlorines, Pyrethrins, Pyrethroids. and Other Types), Applications (Spray, Dipping Vat, Hand Dressing, and Other Applications)
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Geographical Scope
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The UK, France, Germany, Spain, Italy, Russia, and Rest of Europe
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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BASF SE; United Phosphorus Ltd; Bayer AG; FMC Corporation; and Nissan Chemical Industries Ltd.
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Europe Acaricides Market Segment Insights
Carbamates segment is anticipated to grow at significant CAGR
Based on types, the market is divided into organophosphates, carbamates, organochlorines, pyrethrins, pyrethroids. and other types. The carbamates segment is expected to grow at a rapid pace during the forecast period owing to increasing awareness about the benefits of this type of organic compounds. However, the organophosphates segment is anticipated to hold a key share of the market in the coming years owing to low toxicity.
Spray segment is projected to expand at a high CAGR
On the basis of applications, the market is segregated into spray, dipping vat, hand dressing, and other applications. The spray segment is projected to expand at a considerable CAGR during the forecast period owing to ease of spreading the pesticide evenly to the crops. On the other hand, the hand dressing segment is anticipated to account for a major market share during the forecast period due to rising demand for bio-based bottles available for hand dressing.
Spain is anticipated to constitute to hold large market share
In terms of geography, the market is classified as the UK, France, Germany, Spain, Italy, Russia, and Rest of Europe. Spain is expected to constitute a key share of the market during the projected period. The country is a prominent crop producer in Europe. However, the market in Germany is anticipated to expand at a rapid pace during the forecast period owing to increasing integration of advanced manufacturing machines for the production of acaricide products.
Segments
The Europe acaricides market has been segmented on the basis of
Types
- Organophosphates
- Carbamates
- Organochlorines
- Pyrethrins
- Pyrethroids
- Other Types
Applications
- Spray
- Dipping Vat
- Hand Dressing
- Other Applications
Geography
- The UK
- France
- Germany
- Spain
- Italy
- Russia
- Rest of Europe
Key Players
Competitive Landscape
Key players competing in the Europe acaricides market are BASF SE; United Phosphorus Ltd; Bayer AG; FMC Corporation; and Nissan Chemical Industries Ltd.
In August 2021, Bayer AG acquired Vividion Therapeutics, a US-based biopharmaceutical company, for an upfront sum of USD 1.5 billion dollars.
In March 2021, FMC Corporation announced purchase of a small stake in Dupont's crop protection business for USD 1.2 billion.
In January 2020, BASF SE completed acquisition of polyamide business from Solvay, a chemical company.
In December 2019, Nissan Chemical Corporation completed the acquisition of the Quinoxyfen product line of fungicides from Corteva, Inc.
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