Clodinafop Propargyl Market Size, Share, Industry, Forecast and Outlook (2024-2031)

Clodinafop Propargyl Market  is segmented By Purity (Purity 98%, Purity >98%) By Crop Type (Rice, Corn, Wheat, Others) By Distribution Channel (Online, Offline) By End-User (Commercial Farms, Large-scale Agricultural Enterprise, Smallholder Farmers) and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Market Overview

Global Clodinafop Propargyl Market reached US$ 200.2 million in 2023 and is expected to reach US$ 321.5 million by 2031, growing with a CAGR of 6.1% during the forecast period 2024-2031.

The increasing adoption of clodinafop propargyl in agriculture due to its efficacy in controlling grass weeds, particularly in wheat and barley crops, is a major factor propelling market expansion. Additionally, rising awareness among farmers regarding the benefits of clodinafop propargyl in enhancing crop yield and quality while minimizing environmental impact is driving its demand.

Hence, manufacturers are providing a wide range of products to fulfill the growing demand for such products. UPL, an India-based manufacturer of various agrochemicals, provides JHATKA, which contains Clodinafop Propargyl 15% WP. In wheat, it suppresses resistant weeds like Avena fatua and Phalaris minor.

Wheat accounts largest market share in the global clodinafop propargyl market due to efficient in controlling annual grass weeds in wheat. Similarly, Asia-Pacific dominates the clodinafop propargyl market, capturing the largest market share due to the growing agricultural activities in the region along with the rising demand for effective weed management.

Market Scope

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Market Dynamics

Focus on Weed Control

The global clodinafop propargyl market is experiencing robust growth, largely propelled by the increasing focus on weed control in agriculture. Weeds pose a significant threat to crop productivity by competing for essential resources such as nutrients, water, and sunlight. According to estimates from the Multidisciplinary Digital Publishing Institute (MDPI), about 1800 weed species reduce plant yield globally by 31.5%, costing the economy USD 32 billion annually.

 Clodinafop propargyl, as an effective herbicide, offers selective control over a broad spectrum of grassy weeds in crops like wheat and barley. Moreover, the rise in herbicide-resistant weeds has underscored the importance of alternative weed management strategies, further elevating the demand for clodinafop propargyl. Its unique mode of action makes it particularly valuable in combating these resistant weeds while minimizing harm to desirable crops.

Growing Demand to Improve Crop Yields

As global populations surge and dietary preferences evolve, there is a pressing need to enhance agricultural productivity to meet the rising demand for food. According to FAO estimates, increasing global food production by about 70% between 2005–07 and 2050 will be necessary to feed the world's 9.1 billion people. Clodinafop propargyl, a herbicide widely used in agriculture, plays a crucial role in ensuring higher crop yields by effectively controlling weeds.

With its ability to selectively target grassy weeds in cereal crops such as wheat, barley, and oats, clodinafop propargyl aids in maintaining crop health and maximizing yields. As farmers strive to optimize production and efficiency in the face of limited arable land and environmental challenges, the demand for effective herbicides like clodinafop propargyl continues to rise. Moreover, technological advancements and increasing awareness about the benefits of weed management further fuel the adoption of clodinafop propargyl, driving market growth in the agricultural sector.

Environmental Concerns

Clodinafop propargyl is a herbicide widely used in agriculture to control grassy weeds in crops like wheat and barley. However, its usage raises concerns about its impact on the environment, particularly in terms of water contamination and toxicity to non-target species. Since it is applied to fields where it can come into contact with rainfall or irrigation water, there is a risk of it being washed into waterways, where it can accumulate and harm aquatic ecosystems. This contamination can disrupt the balance of aquatic life and pose risks to organisms relying on these water sources for survival.

Moreover, there is growing awareness and regulatory scrutiny regarding the broader environmental impact of herbicides like clodinafop propargyl. Governments and regulatory bodies are increasingly imposing restrictions and guidelines on the use of such chemicals to mitigate their adverse effects on ecosystems and human health.  For instance, in March 2023, A $379 million project was launched by the governments of Ecuador, India, Kenya, Laos, Philippines, Uruguay, and Vietnam to address pollution caused by the use of plastics and pesticides in agriculture.

Segment Analysis

The global clodinafop propargyl market is segmented based on purity, crop type, distribution channel, end-user, and region.

Clodinafop Propargyl’s Efficacy in Targeting Broad Spectrum Weeds in Wheat

Clodinafop propargyl is a widely used herbicide renowned for its efficacy in controlling grass weeds in various crop types. Among these, wheat stands out as one of the primary beneficiaries, driving significant growth in the market for clodinafop propargyl. wheat is one of the most extensively cultivated crops globally, occupying vast acreages across diverse agro-climatic regions. According to the Our World Data, in 2022 wheat production globally stood at 808,441,600 tons.

Its widespread cultivation creates a substantial demand for herbicides to combat the menace of grass weeds that compete with wheat for nutrients, water, and sunlight.  Clodinafop propargyl is extensively employed as a herbicide to manage annual grass weeds in cereal crops, primarily wheat. It emerges as a preferred choice due to its effectiveness in selectively targeting grassy weeds while sparing the wheat crop, thereby ensuring optimal yield protection.

Geographical Penetration

Rising Demand for Effective Weed Management in Asia-Pacific

Asia-Pacific compasses a vast expanse of agricultural land, with countries like China, India, and Indonesia being major contributors to global agricultural output.  According to estimates from the ICAR-Directorate of Weed Research (ICAR-DWR), Jabalpur, India, weeds cause losses of about $11 billion annually in only ten of India's primary crops. Weeds account for 33% of the total loss. Thus, effective weed control is essential for raising farmers' income and productivity. As clodinafop propargyl is primarily used as an herbicide in agriculture, the demand for such products is naturally high in this region to ensure efficient weed control and maximize crop yields.

Moreover, the Asia-Pacific region is witnessing rapid industrialization and urbanization, leading to a growing need for enhanced agricultural productivity to feed its burgeoning population. Farmers are increasingly turning to advanced agricultural techniques and inputs like clodinafop propargyl to boost crop production and meet the rising food demand.

COVID-19 Impact Analysis

The COVID-19 pandemic significantly impacted the clodinafop propargyl market growth, primarily due to disruptions in the agricultural sector and supply chain challenges. The restrictions on movement and lockdown measures implemented worldwide hindered the production, distribution, and application of agricultural inputs, including clodinafop propargyl-based herbicides. Reduced agricultural activities and uncertainty among farmers led to a decrease in demand for herbicides, thereby impacting market growth. Additionally, the economic downturn caused by the pandemic further exacerbated these effects, resulting in a slowdown in the clodinafop propargyl market expansion.

Russia-Ukraine War Impact Analysis

The Russia-Ukraine war had a significant impact on the clodinafop propargyl market growth primarily due to disruptions in the global supply chain and uncertainties surrounding the availability of key raw materials.  The conflict led to supply chain disruptions, including transportation and logistical challenges, which in turn affected the availability of clodinafop propargyl and caused fluctuations in prices. Additionally, geopolitical tensions created uncertainty among market participants, leading to cautious investment behavior and delayed decision-making, further impacting market growth.

Key Developments

• In March 2020 the EU technical equivalency granted to Yifan Bio-tech Group's herbicide product, clodinafop-propargyl technology. The technical and formulation products of clodinafop-propargyl have complete and functional pesticide registration certificates and production licenses.
• In January 2020, Health Canada completed the re-evaluation of clodinafop-propargyl. Health Canada has decided that it is appropriate for goods containing clodinafop-propargyl to continue to be registered under the Pest Control Goods Act.

Competitive Landscape

The major global players in the market include LGC Limited, Aristo Biotech, Jiangsu Fengshan Group Co., Ltd., Yifan Bio-tech Group Co., Ltd., Jiangsu Changqing Agrochemical Co., Ltd., Hubei Zhongxun Thinkgreen Technology Co., Ltd., Jiangsu Flag Chemical Industry Co., Ltd., Gharda Chemicals Ltd, Merck KGaA, RAM SHREE CHEMICALS

Why Purchase the Report?

• To visualize the global clodinafop propargyl market segmentation based on purity, crop type, distribution channel, end-user, 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 global clodinafop propargyl 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 clodinafop propargyl market report would provide approximately 62 tables, 53 figures, and 209 Pages.

Target Audience 2024

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