South Korea industry statistics of Bifenazate- Trends and Applications to 2031

Bifenazate: Introduction

• Bifenazate is a selective acaricide, which offers control over the growth of mites either by direct or indirect contact with foliar residues. Bifenazate can be applied in the form of spray by mixing it with water. Various types of ground equipment or aerial equipment are used in agricultural land for conventional spraying on crops. Bifenazate mitigates the growth of variety of species including spider mites, red mites, and grass mites.

• Bifenazate is manufactured industrially using raw materials, namely 4-phenylphenol, diisopropyl azodicarboxylate, and dimethyl sulfate. It is used in a wide range of applications as miticide. It does not contaminate the soil or water much and is neither carried away nor accumulated. Thus, bifenazate forms a part of an Integrated Pest Management (IPM) program.

Key Drivers and Restraints of Bifenazate Market

• Global rise in demand for food has led to indiscriminate use of pesticides. Most of the pesticides contain toxic or poisonous substances and their extensive use not just pollutes the soil and water, but also makes the food unhealthy to consume. Repeated and overuse of such pesticides damages non-targeted areas, as they usually spread over to the entire area under cultivation. Furthermore, pesticides get accumulated as residuals in running groundwater, thus bringing down soil fertility. Such negative impacts have made several authorities across the globe ban pesticides or limit their usage.

• Bifenazate exhibits faster degradation in soil along with swift elimination of mites. Yet another advantage of bifenazate is that it has long residual control. Hence, it does not get accumulated too much in surface waters, unlike other pesticides. This reduces the negative impact and makes bifenazate a compatible and safe acaricide. These factors are expected to boost the global bifenazate market.

• Bifenazate is toxic to marine invertebrates, birds, and fish. It also poses a threat to bees and other pollinating insects. Therefore, governments of many countries are limiting the use of bifenazate and instead encouraging the use of bio-pesticides. Thus, increase in consumption of bio-pesticides can act as a barrier for the bifenazate market.

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COVID-19 Impact Analysis on Supply Chain

• Governments of several countries across the globe have imposed stringent lockdowns to limit the spread of the coronavirus. Movement of individuals and economic activities, related to goods and services, has come to a halt because of lockdowns. China is an important producer and supplier of raw materials required for the production of pesticides. Outbreak of the Coronavirus in China affected the supply of raw materials. This led to a dip in production of bifenazate, thus hampering the bifenazate market.

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Bifenazate Market Segmentation

• In terms of application, the global bifenazate market can be segregated into vegetables, fruits, floriculture, and others. The vegetables segment can be further classified into cucurbit vegetables, fruiting vegetables, and others. The fruits segment can be subdivided into grapes, pome fruit group, and others.

Bifenazate Market: Regional Segmentation

• In terms of region, the global bifenazate market can be split into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America

• Asia Pacific and Latin America are attractive regions of the global market owing to the shift in pesticide consumption patterns leading to better crop yields in China, India, and Brazil in these regions. Thus, the bifenazate market in Asia Pacific and Latin America is expected to expand at a faster pace in the near future.

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Key Players Operating in Global Market

• Dow Chemical Company

• Olympic Horticultural Products, Inc.

• BASF Corporation

• Zhejiang Rayfull Chemicals Co., Ltd.

• VIVAN Life Sciences

• King Quenson

• Chemodex Ltd.

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