In 2022, the global market for mancozeb was valued at approximately US$ 1,148.81 million, with projections indicating it will reach around US$ 1,569.57 million by 2030. This growth represents a compound annual growth rate (CAGR) of 4.0% from 2022 to 2030.
Mancozeb is a versatile fungicide that effectively combats a variety of fungal diseases affecting numerous crops, including fruits, vegetables, nuts, and field crops. Its affordability and efficacy make it a popular choice among farmers. The rising population and urbanization in developing nations have spurred an increase in agricultural production and food supply. As a widely utilized fungicide, mancozeb plays a vital role in protecting crops from fungal infections. With the agricultural sector in emerging economies striving to boost output to satisfy the escalating food requirements of their populations, the demand for mancozeb has correspondingly increased. These regions are transitioning towards more intensive and commercial farming methods, leading to a heightened dependence on agrochemicals like mancozeb to maintain crop health and quality. This shift towards modern agricultural practices is anticipated to further propel the mancozeb market in these countries. Additionally, the focus on export-oriented agriculture in these regions aims to optimize crop yields for international markets, with mancozeb being essential for safeguarding crops against fungal threats. The Food and Agriculture Organization (FAO) highlights that India is a leading producer of various vegetables, including ginger and okra, and ranks second in the production of cauliflowers, onions, cabbages, potatoes, and brinjal. In terms of fruits, India is the top producer of bananas (26.45%), mangoes (43.80%), and papayas (39.30%).
According to estimates from the United States Department of Agriculture (USDA), Brazil's agricultural exports, including processed goods, have experienced an average annual growth of 9.4% from 2000 to 2021, constituting 37% of the country's total exports. Brazil stands as the third-largest exporter of agricultural products globally, following the European Union (EU) and the United States. This reliance on enhanced productivity fuels the demand for mancozeb, as farmers seek to improve their agricultural yields and economic returns. Furthermore, as incomes rise in emerging economies, consumers are increasingly seeking diverse and nutritious diets, leading to a surge in the production of high-value crops, such as fruits and vegetables, which are particularly vulnerable to fungal diseases. Many farmers in these regions face challenges in accessing more costly fungicides, making mancozeb an appealing option due to its affordability. Consequently, these factors are expected to significantly support the growth of the mancozeb market throughout the forecast period.
The global mancozeb market is categorized based on application into segments such as foundry, construction, and others. In 2022, the foundry segment dominated the market share. The construction and other segments are also anticipated to be attractive areas for growth from 2022 to 2030. The use of reclaimed sand in construction is a sustainable practice that offers numerous benefits. Reclaimed sand, typically sourced from construction and demolition waste as well as foundry waste, can be effectively utilized in various construction applications. One of the key advantages is its contribution to environmental sustainability. By reusing reclaimed sand, the need for new mining and extraction of natural sand is reduced, helping to conserve these limited resources and mitigate the ecological impact associated with sand extraction.
Regionally, the global mancozeb market is divided into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In 2022, the Asia Pacific region accounted for the largest revenue share of the global mancozeb market. Europe is also expected to emerge as a significant market in the near future, driven by a growing focus on sustainable practices within the manufacturing sector. For instance, in 2020, William Lee Ltd, a foundry company based in the UK, invested in a new sand reclamation facility aimed at reducing waste and enhancing sustainability.
Key players in the global mancozeb market include Hebei Enge Biotech Co Ltd, Ningbo Generic Chemical Co Ltd, Natursim Science Co Ltd, UPL Ltd, Coromandel International Ltd, Zhejiang Rayfull Chemicals Co Ltd, Indofil Industries Ltd, Limin Group Co Ltd, Sumitomo Chemical Co Ltd, and Corteva Inc. These companies are employing various strategies, such as investing in research and development and launching new products, to establish themselves as competitive forces in the market. They are particularly focused on developing high-quality and innovative products to meet customer demands.
The overall size of the global mancozeb market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry participants to validate the findings and gain deeper analytical insights. Participants included industry experts such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the global mancozeb market.