Global Mancozeb Market - 2023-2030

Overview

Global Mancozeb Market reached US$ 1.81 billion in 2022 and is expected to reach US$ 2.55 billion by 2030, growing with a CAGR of 4.4% during the forecast period 2023-2030.

FAO estimates that to feed a global population of 9.1 billion people, in 2050 would require increasing total food production by almost 70% between 2005/07 and 2050. This growing food demand led to the use of various fungicides including mancozeb to protect the crop from fungi. Mancozeb is an effective and economical fungicide that helps protect a wide range of crops from fungal diseases.

Changes in climate patterns and the spread of diseases are increasing the need for robust disease management. Mancozeb, with its broad-spectrum fungicidal activity, is a valuable agrochemical in this context. The demand for crop protection chemicals, including mancozeb, is on the rise due to the increasing global population and the need to enhance agricultural productivity.

Agriculture holds a significant share of the mancozeb market due to the widespread use of fungicides to protect the crop. Asia-Pacific held a significant share of the mancozeb market due to its large-scale population. In May 2020, HIL (India) Ltd, a PSU under the Ministry of Chemicals and Fertilizers announced that the company has already shipped 10 tonnes of the fungicide mancozeb to Peru in Latin America, and another 12 tonnes will be shipped out in the following week.

Dynamics

Fungal Disease Outbreaks

According to USDA, fungal pathogen-related diseases can result in annual agricultural losses of 10-20%, or $100-200 billion. Fungal disease outbreaks devastate crops, leading to reduced yields and economic losses for farmers. In response, farmers often increase their use of fungicides like mancozeb to protect their crops from fungal infections and minimize losses. This surge in demand for disease control products contributes to the growth of the mancozeb market.

Fungal outbreaks are often unpredictable and can occur suddenly due to changes in weather conditions, such as increased humidity and rainfall. Mancozeb is an effective fungicide against various fungal pathogens, making it a preferred choice during such outbreaks.

Rising Demand for Food Security

Food security is a global concern, and the use of mancozeb, a fungicide, plays a vital role in ensuring a stable and secure food supply. Mancozeb is used to protect a wide range of crops, including grains, fruits, vegetables, and cash crops, from fungal diseases. Fungal infections can cause significant crop losses, jeopardizing food production. By using mancozeb, farmers can safeguard their crops and mitigate the risks associated with fungal diseases, contributing to food security.

Mancozeb can help farmers adapt to climate-changing conditions and maintain food security by protecting crops from emerging disease threats. The long-standing fungicide's present approval is slated to expire in 2024, and the Chemical Regulations Division (CRD) will decide whether to extend it. According to crop protection manufacturer UPL, farmers will still have access to the multi-site fungicide Mancozeb, which can prevent additional changes in fungicide resistance.

Environmental Concerns and Regulatory Restrictions

Mancozeb is known to contain heavy metals, such as manganese and zinc, which can accumulate in soil and water, posing a potential threat to ecosystems. Runoff from treated fields can contaminate water bodies, harming aquatic life. Environmental concerns related to soil and water contamination can lead to restrictions on mancozeb use, particularly in areas with sensitive ecosystems.

Government agencies responsible for pesticide regulation often revise their policies based on the latest scientific evidence and public concerns. In October 2020, after a qualified majority of delegates decided not to renew an authorization, European governments agreed to withdraw EU clearance for the extensively used organic fungicide mancozeb, one of the chemicals used on arable crops most frequently of any kind.

Segment Analysis

The global mancozeb market is segmented based on type, formulation, distribution channel, application and region.

Mancozeb's Widespread Use in Agriculture

Mancozeb is primarily used in agriculture to protect a wide range of crops from fungal diseases. It is effective against various fungal pathogens, making it a popular choice for crop protection. Due to its broad applicability, a significant portion of Mancozeb is dedicated to the agricultural sector.

Mancozeb can be used on various crops, including cereals, vegetables, fruits, and cash crops. The agricultural sector faces recurring challenges from fungal disease outbreaks. In response to such outbreaks, farmers increase their use of fungicides like Mancozeb to prevent crop losses and maintain yields. Kenyan farmers spent a total of Sh10.66 billion ($72.7 million) on pesticides in 2020 to combat illnesses and pests. From that Sh2.65 billion ($18.1 million) was spent on fungicides (mancozeb).

Geographical Penetration

Asia-Pacific's Growing Agrochemical Exports

With a large and growing population, Asia-Pacific has a high demand for food. To meet this demand, farmers must maintain crop yields and quality, and mancozeb helps protect crops from fungal diseases, ensuring a consistent food supply. According to a speech given by the agricultural minister in September 2021, India is the fourth-largest producer of agrochemicals in the world.

Asia-Pacific is a significant player in global agricultural trade. According to a Federation of Indian Chambers of Commerce & Industry (FICCI) report on the agrochemical industry published in 2021, India is one of the world's top exporters of agrochemicals, sending products to the USA, Japan, China, and Brazil in that order. The most notable agrochemicals exported are mancozeb, profenos, 2,4-D, acephate, and chlorpyrifos.

Competitive Landscape

The major global players include UPL, Corteva, Limin Group Co., Ltd., Indofil Industries Limited, Coromandel International Limited, Bayer AG, Aroxa Crop Science Pvt. Ltd., Volkschem Crop Science Pvt. Ltd., ARISTO BIO-TECH AND LIFESCIENCE LIMITED, Star Bio Science

COVID-19 Impact Analysis

COVID Impact

The pandemic disrupted global supply chains, affecting the availability of raw materials and the manufacturing and distribution of mancozeb products. Lockdowns, transportation restrictions, and factory closures hindered the production and timely delivery of agricultural chemicals. Lockdowns and quarantine measures led to labor shortages in the agriculture and manufacturing sectors. This, in turn, affected the application of mancozeb on crops and the production of the fungicide.

Economic downturns in various countries led to reduced agricultural spending, as farmers faced financial constraints. This impacted the demand for Mancozeb as well as other agrochemicals. COVID-19 disrupted agricultural practices, including planting, harvesting, and maintenance of crops. In some cases, farmers delayed or reduced their use of mancozeb due to labor shortages and logistical challenges.

Russia- Ukraine War Impact

The conflict in the region disrupted mancozeb supply chains, causing a notable decrease in market availability. This, in turn, triggered significant price volatility within the mancozeb market. Prices fluctuated as market participants reacted to the uncertainties and changes in supply and demand dynamics resulting from the war.

Export-oriented agriculture in Ukraine and Russia may face challenges accessing international markets due to the war and geopolitical tensions. Trade restrictions and trade disputes can affect the export of crops treated with mancozeb, impacting demand. The war and associated disruptions led to reduced agricultural activities. These reduced agricultural activities impacted the fungicides market including the mancozeb market.

By Type

• Concentration Below 70%
• Concentration 71%-80%
• Concentration Above 80%

By Formulation

• Wettable Powders
• Water Dispersible Granules

By Distribution Channel

• Supermarket/Hypermarket
• Convenience Stores
• E-Commerce
• Others

By Application

• Agricultural
• Plantations And Estates
• Horticultural And Ornamental Crops
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In August 2023, Liben announced to build 80,000 t/a Mancozeb and 30,000 t/a Clethodim production lines.
• In December 2020, Nissan Chemical Corporation announced that it has acquired Corteva, Inc.'s Mancozeb product range of fungicides in Japan and Korea.
• In March 2021, UPL, an agrochemical manufacturing company, announced that it is getting ready to introduce a novel fungicide that combines the active ingredients mancozeb, azoxystrobin, and prothioconazole to the growing disease challenges of soybeans and a rise in groups of fungicide-resistant fungi with a particular point of action.

Why Purchase the Report?

• To visualize the global mancozeb market segmentation based on type, formulation, distribution channel, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of mancozeb market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global mancozeb market report would provide approximately 69 tables, 67 figures and 181 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies