PUBLISHER: Verified Market Research | PRODUCT CODE: 1630065
PUBLISHER: Verified Market Research | PRODUCT CODE: 1630065
Chlorothalonil Market size was valued at USD 233.71 Million in 2024 and is projected to reach USD 324.27 Million by 2031, growing at a CAGR of 4.61% during the forecasted period 2024 to 2031.
The rising need to increase the quality and yield of essential crops owing to the scarcity of resources and higher demand of crops has fueled the need for crop protection measures including the use of pesticides on crops. Moreover, the rise in the demand for preservatives in different paints to be used in ornaments, turfs etc. has risen the demand for chlorothalonil.
Chlorothalonil is an organic crystalline compound used as a broad-spectrum pesticide on a variety of vegetable crops, small fruits, peanuts, ornamentals, lawns, and turfs as well as a preservative or as an antifungal agent in paints and adhesives in order to control the growth of fungi. It is also used as a wood protectant and to prevent leather, and other fabrics from mold and mildew attacks.
Global Chlorothalonil Market Overview
The growth of the food and beverage industry combined with the rise in the total consumption of cereals, vegetables, pulses etc. has put substantial pressure on the agriculture sector to provide quality and higher yields in the produce. The rising quality standards setup in different countries regarding food and beverage products has also escalated the need to product quality yields. Moreover, there has been decrease in the arable land across the globe which has further increased the need for higher yields per produce. All these factors combinedly increase the need for crop protection measures to avoid loss of the produce due to attack of rodents, insect, fungal attack etc. Pesticides and fungicides are used to protect crops which employ Chlorothalonil as its major constituent as it is most effective among other alternatives. Moreover, there has been also increase in the demand of preservatives employed in applications likes paints and coatings which are employed in applications ranging from ornaments, turfs, building and construction industry etc. The growth of these industries further complements the growth of Chlorothalonil market.
Although, Chlorothalonil is often associated with health concerns due to its toxic nature both to humans as well as to the environment due to excessive use and utilization and wrong handling of the products. These factors hinder the growth of the Chlorothalonil market.
Global Chlorothalonil Market is segmented based on Type, Product, Crop Type, And Geography.
Based on Type, the market is bifurcated into 98% Chlorothalonil, 96% Chlorothalonil, 90% Chlorothalonil. The 98% Chlorothalonil segment held the largest market share. The factors can be attributed to the high share of 98% Chlorothalonil segment include its used as a pest resistant in pesticides and higher % of Chlorothalonil is preferred in pesticides, also a higher % of Chlorothalonil is useful to act as a preservative agents in paints, emulsions and coatings used in various applications.
Based on Product, the market is bifurcated into Suspending Powder, Wettable Powder, Others. The wettable powder segment is to hold the largest market share forecast period. The large share of the wettable segment can be associated to the large-scale use of wettable powder in agriculture mixed with water and the solution is sprayed as a pesticide on crops.
Based on Crop Type, the market is bifurcated into Cereals & Grains, Oilseeds & Pulses, Turfs & Ornamentals, Vegetables & Fruits. The cereals and grains held the largest market share. The factors can be credited for the large share of cereals and grains are the dependence of the crops like wheat, rice, maize etc on pesticides to offer a higher quality and yield. Chlorothalonil is highly effective and is used widely in different fungicide stages for crop protection. Also, these crops often are harvested on a large scale due to its use and application in different food and beverage industry products.
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