Report : North America Metalaxyl-M Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Form (Dry and Liquid), Crop Type (Cereals and Grains, Oilseeds and Pulses, Fruits and Vegetables, and Others), and Mode of Application (Seed Treatment, Soil Treatment, and Foliar Spray)
Surging Demand for Fungicides in Agriculture Industry to Escalate North America Metalaxyl-M Market Growth
According to our latest market study on “North America Metalaxyl-M Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Form (Dry and Liquid), Crop Type (Cereals and Grains, Oilseeds and Pulses, Fruits and Vegetables, and Others), and Mode of Application (Seed Treatment, Soil Treatment, and Foliar Spray)” the market size was valued at US$ 12415.90 thousand in 2022 and is projected to reach US$ 16469.97 thousand by 2028; it is expected to grow at a CAGR of 4.8% from 2022 to 2028. The report highlights key factors driving the market and prominent players along with their developments in the market.
Metalaxyl-M is an active ingredient of liquid systematic seed-applied fungicide utilized to protect crops such as cereals, grains, oilseeds, pulses, fruits, and vegetables from early season downy mildew, Pythium spp., and Phytophthora spp. Metalaxyl-M is a derivative product of D-alanine and plays an important role as an agrochemical in the agriculture industry. The North America metalaxyl-M market is mainly driven by surging demand for fungicides in the agriculture industry. In 2021, the US held the largest market share in terms of revenue in the North America metalaxyl-M market.
North America Metalaxyl-M Market Breakdown – by Region
Metalaxyl-M is a major fungicide across the agriculture sector. Metalaxyl-M is approved by the United States Environmental Protection Agency (EPA) as a fungicide to control pythium in several vegetable crops. Due to this factor, metalaxyl-M finds its application in crops such as cereals and grains, oilseeds and pulses, and fruits and vegetables. In North America, the demand for metalaxyl-M from the agriculture industry is growing due to several factors, such as the rising consumption of food products due to rise in population and growing concerns for crop protection to achieve high crop yield. Moreover, the better performance of metalaxyl-M over other fungicides is driving its demand among farmers.
Syngenta AG; SPEX CetriPrep, LLC; ChemScene LLC; Chem Service, Inc; Croda International Plc; Albaugh LLC; Toronto Research Chemicals; Yifan Biotechnology Group Co., Ltd; Nufarm; Control Solutions, Inc.; and Atticus, LLC are among the major players operating in the North America metalaxyl-M market. Players operating in the North America metalaxyl-M market are highly focused on developing high-quality and innovative product offerings to fulfill customers’ requirements.
Impact of COVID-19 Pandemic on North America Metalaxyl-M Market
In 2020, various industries had to slow down their operations due to disruptions in value chains caused by the shutdown of national and international boundaries. The COVID-19 pandemic caused supply chain disruptions in key raw materials and hampered the growth of the metalaxyl-M market. The adverse effect of the pandemic on agriculture and chemical industries negatively impacted the demand for metalaxyl-M from these industries in North America.
However, various economies in North America started reviving their operations. With this, the demand for metalaxyl-M from agriculture applications has started increasing. The increasing use of metalaxyl-M as a prime fungicide is expected to offer more growth opportunities for the North America metalaxyl-M market during the forecast period.
The report includes segmentation of North America metalaxyl-M market as follows:
Based on form, the North America metalaxyl-M market is bifurcated into dry and liquid. In terms of crop type, the market is segregated into cereals and grains, oilseeds and pulses, fruits and vegetables, and others. Based on mode of application, the market is segmented into seed treatment, soil treatment, and foliar. Based on country, the North America metalaxyl-M market is segmented into the US, Canada, and Mexico.
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