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Tebuconazole is a triazole fungicide used for a wide variety of farming and landscaping activities for the treatment, protection, and elimination of three functions as well as sterilization of a broad spectrum of crops for long durations. The major brand names include Elite, Folicur, Raxil, Lynx, and others. Tebuconazole and myclobutanil are the two most widely used fungicides, both of which comprise of two enantiomers with different fungicidal activity. In several agricultural activities, fungicides are utilized to protect the crops from fungal pathogens. It is also used to control scab, wheat rust, and diseases of fruit trees. Moreover, tebuconazole can be also used as a key raw material for seed coat. The global tebuconazole market is highly fragmented owing to the vast presence of numerous market players. For instance, Bayer CropScience account for 20% share in the global market and is the largest producer of tebuconazole.
Owing to increase in demand for advanced formulations, the global tebuconazole market is expected to witness a rapid growth during the forecast period. The tebuconazole market is mainly distributed in North America and Asia-Pacific, which have a high demand for fungicides. Moreover, with an increase in demand for fruits & vegetables coupled with rise in demand for exotic and tropical fruits & vegetables especially in the developing economies across the globe, the market is anticipated to witness a rapid surge throughout the forecast period. In addition, rapid increase in demand for cereals due to changes in dietary patterns is another key aspect anticipated to drive the demand for tebuconazole during the forecast period. Moreover, escalating food security concerns along with the rapidly declining arable land are projected to boost the growth of the market. Furthermore, rise in demand for fungicides in non-crop applications such as ornamental plants and turf is projected to fuel the market growth throughout the forecast period. However, stringent government regulations coupled with introduction of better alternatives might hamper the market growth.
The global tebuconazole market is segmented on the basis of application and geography. On the basis of application, it is divided into crop fungicide, seed treatment, wood preservatives, and others. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global market are focusing on key market strategies such as mergers, acquisitions, collaborations, and partnerships. They are also focusing on strengthening their market reach in order to maintain their goodwill in the ever competitive market.
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