2,4-Dichlorophenoxyacetic Acid Market: Introduction
2,4-Dichlorophenoxyacetic Acid, also known as 2, 4-D, is a part of the phenoxy herbicides group. It is an organic compound with the molecular formula C8H6Cl2O3. 2,4-Dichlorophenoxyacetic Acid is the most common type of herbicide used in the agriculture sector. It is manufactured by the reaction between chloroacetic acid and 2,4-dichlorophenol in the presence of caustic soda, i.e. sodium hydroxide. Generally, herbicides find application in agricultural practices to maintain plant growth and high productivity. These herbicides find application in agricultural as well as non-agricultural applications such as in lawns, parks, turfs, gardening, golf courses and forestry, among other areas.
The primary reason contributing to the increasing demand for 2, 4-Dichlorophenoxyacetic Acid and its derivative products is its low price and efficiency per acre as compared to other herbicides. Further, 2,4-Dichlorophenoxyacetic Acid offers high solubility in water as well as several other solvents, owing to which it can easily penetrate the soil (from the plant) and thereby increase crop yield, promote plant growth and increase soil quality The environmental benefits of 2,4-Dichlorophenoxyacetic Acid include improved water quality, water availability and air quality as it helps reduce soil erosion, carbon footprint and fertilizer use. While the persistence of 2,4-Dichlorophenoxyacetic Acid is around 1 – 2 months, its biodegradation period is around 5 – 6 months.
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2,4-Dichlorophenoxyacetic Acid Market: Dynamics
Modernization in farming techniques and the increasing usage of agrochemicals to increase crop yield are the major factors driving the 2,4-Dichlorophenoxyacetic Acid market. In order to cater to the increasing demand for grains, cereals, fruits and vegetables, among others with the growing population, the demand for agrochemicals such as fungicide, herbicide and insecticide has increased across the globe. The 2,4-Dichlorophenoxyacetic Acid market is expected to gain traction consumption in plant cell culture processes. Major agrarian oriented economic regions are thus expected to play a significant role in the development of the global 2,4-Dichlorophenoxyacetic Acid market wherein focus on improved crop quality and increased production would be produced by the crop producers in the forecast period. Also, the low cost, high efficiency and environmental benefits of 2,4-Dichlorophenoxyacetic Acid as compared to other herbicide products also help drive the market. On the other hand, limited use in current scenario and complexity involved in the manufacturing of 2,4-Dichlorophenoxyacetic Acid has proved to be a restraint for the 2,4-Dichlorophenoxyacetic Acid market. Also the stringent regulations & polices in developed regions may hamper the growth of 2,4-Dichlorophenoxyacetic Acid market. The manufacturers of 2,4-Dichlorophenoxyacetic Acid have been involved in product improvement and development of new grades to extend its scope of use beyond the existing applications.
2,4-Dichlorophenoxyacetic Acid Market: Regional Outlook
In terms of production & consumption, Asia Pacific dominates the global 2,4-Dichlorophenoxyacetic Acid market as the agriculture sector in the region contributes a significant share to the GDP growth of several countries such as China, India and ASEAN countries. Growth of the agriculture sector, modernisation in farming techniques and increasing adoption of herbicides, fungicides, and insecticides to increase yield are expected to drive the market of 2,4-Dichlorophenoxyacetic Acid in Asia Pacific over the forecast period. In North America, 2,4-Dichlorophenoxyacetic Acid is prevalently used as a herbicide in the agriculture sector. The U.S. ranks third in terms of consumption of 2,4-Dichlorophenoxyacetic Acid as a herbicide, and the region is expected to witness decent growth over the assessment period. The Europe 2,4-Dichlorophenoxyacetic Acid market is also expected to register steady growth, while Latin America and Middle East & Africa (MEA) are expected to register slow growth over the forecast period.
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2,4-Dichlorophenoxyacetic Acid Market: Market Participants
Some of the major players identified across the value chain of the global 2,4-Dichlorophenoxyacetic Acid market include:
- Aero Agro Chemical Industries Limited
- BASF SE
- Monsanto Company
- TCI Chemicals (India) Pvt. Ltd
- Kenvos Biotech Co., Ltd.
- Nufarm Ltd
- Mercator Pharma
- Cayman Chemical
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