Global Bifenazate Market Is Anticipated To Witness Growth Due To Growing Demand For Bifenazate And Rising Usage For Treating Ornamental Crops

 

Bifenazate Market

Overview:

Bifenazate (Bif) is a carbazate insecticide used for mite control. It is sold for research and is packaged for use in controlled laboratory environments. The chemical is moderately toxic to most aquatic organisms and has low water solubility. Bifenazate has low acute toxicity when administered to rats. Bifenazate is not an eye irritant. However, it does have phototoxicity. Although bifenazate does not cause mammary tumors, it has been observed to increase the occurrence of adenomas in males. For most agricultural uses of bifenazate, including fruiting vegetables, nursery ornamentals, and flowering plants, the aggregate risk is very low. However, it is important to note that there is a data gap that will need to be addressed in order to complete the risk assessment.

 

Market Dynamics:

Growing usage of miticide for treating ornamental crops is estimated to boost growth of the global bifenazate market during the forecast period. For instance, Nufarm Americas declared the EPA registration of Engulf GHN, in February 2021. This is a new miticide labeled for shade house ornamental crops, nurseries, greenhouse tomatoes, Christmas tree, conifer plantations and greenhouse. Moreover, increasing risk of toxicity is estimated to hamper growth of the global bifenazate market during the forecast period.

 

Impact of COVID-19:

China is one of the major producers and supplier of raw materials used for the production of pesticides. The outbreak of the pandemic hampered the production of these raw materials. Many manufacturing units globally were suffering from the shortage of raw materials during the pandemic. Production was halted in many production units owing to strict restrictions imposed by many governments around the world. This affected the growth of the global bifenazate market negatively. However, in the post-pandemic era the market is estimated to witness growth as all restriction have been eased.

 

Key Takeaways:

The global bifenazate market is anticipated to witness robust growth, exhibiting CAGR of XX% during the forecast period, owing to increasing product launches by key players.  For instance, Rotam North America Inc., declared the launch of an insecticide and miticide, Abacus V6, in April 2021, for fighting various destructive insects and mites.

Asia Pacific is anticipated to witness significant growth in the global bifenazate market during the forecast period, due to growing demand of insecticides in the region.

Major players operating in the global bifenazate market are Chemodex Ltd., Dow Chemical Company, King Quenson, Olympic Horticultural Products, Inc., VIVAN Life Sciences, BASF Corporation, and Zhejiang Rayfull Chemicals Co., Ltd.