Kresoxim Methyl Market size is forecast to reach $ 5 billion by 2025 after growing at a CAGR of 6% during 2020-2025. Kresoxim methyl is a chemical compound from the group of strobilurine, which is an active ingredient in plant protection. The growth of the market of kresoxim methyl is expected to be driven by the high demand from the Chemical industry. The other growth factor is agriculture industry which is using kresoxim methyl as a fungicide, which protects plants from scab and other fungal diseases.
Asia-Pacific dominates the kresoxim methyl market owing to increasing demand from chemical industry.
Rise in the number of diseases in plant is the key driver of the kresoxim methyl market.
Kresoxim methyl may induce pain in the respiratory tract and eyes, pruritus, skin redness, weakness, headache, and dizziness are likely to hinder the market growth of kresoxim methyl.
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By Application – Segment Analysis
Agrochemical sector has been the primary market for kresoxim methyl market in 2019. The agrochemicals sector is considered to be one of the most important segments of kresoxim methyl, due to the expanding commercial cultivation of high value crops to meet the rising diversified food demand. Agrochemicals are consequently seen as those products, which improves the return on investment and also aid in meeting farmer’s as well as consumer demands, from the economical and health perspective with increasing per hectare production of quality agricultural products. Kresoxim methyl is the main ingredient in the manufacture of agrochemical. This factor will drive the growth of the market in the forecast period.
Drivers – Kresoxin Methyl Market
Rise in the number of diseases in plant will drive the market
Rise in the no of companies manufacturing Kresoxim-methyl
Major players in the Kresoxim-methyl Market are Bessen Chemical Ltd, Essence Group, BASF SE, SinoHarvest Corp, Jigs Chemical and others.
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