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Chlorantraniliprole is a novel anthracitic diamine insecticide. It is also known as DPX-E2Y, which belongs to a class compounds. The chemical compound is belonging to a class of compounds which act on the ryanodine receptor. The chemical compound is a used to control of lepidopteran pests and controls several insect’s primaries by interrupting normal contraction pathways. The market is attributed to expand over the estimated period owing to major invention in compound pesticide which contains chlorantraniliprole. Further, technological breakthroughs, increased investments, and growing R&D initiatives is expected to fuel market growth. Rapid expansion of the market due to eco-friendly, bioinsecticides, and natural insecticides. Ongoing demand for pesticide-based pest management and increased pesticide manufacturer is expected to drive market growth in the upcoming years. Huge adoption of the chemical compound in healthcare sector is predicted to fuel market growth in the upcoming years. Increased need for crop protection application is predicted to fuel market growth. High need for high-quality foods and progressive trends for investment progress. However, side effects associated with the chemical compound is anticipated to harm market growth.
As per Business Research Insights, the market size of Chlorantraniliprole was 1886.8 million in 2022, the market is projected to touch USD 2443 million by 2028, exhibiting a CAGR of 4.4% during the forecast period.
COVID-19 Outlook: Halt in Operational Activities to Harm Market Growth
COVID-19 outbreak spread over the world in the first half of 2020. Several people were infected with COVID-19. Government regulations and lockdown restrictions to hamper market growth. Further, the market witnessed several supply and chain disruption. Lower need for the product and halt in operational activities. These factors to harm market growth during the pandemic period.
Below is the list of the top 5 market players who are also recorded as pioneers in their respective fields:
- DuPont
DuPont is an American multinational company. It was first formed on 1802. The company developed several polymers such as nylon, Vespel, Corian, Neoprene, Teflon, Kapton, Mylar, and others. The company is popular for its high quality science-base and chemical products. The company has acquired multiple companies and helped to grow its science-based products.
- Syngenta
The leading science-based agtech company. The company is headquartered in Singapore. The company is used to grow safe and nutritious food. It helps to improve crop productivity and helps to improve farming experience. The company provide high quality food sustainably and safely. The mission of the company to improve global food security.
- Shanghai Shengnong Pesticide
Shanghai Shengnong Pesticide is situated in China. The leading manufacturer of chemical products. The company has innovative and effective team members. The company spread their products across the globe, and has unique marketing strategies.
- Jiangmeng Daguangming Agrochemical
Founded in 2004 and headquartered in China. The company includes production and manufacturing of agricultural chemicals. The company has strong import and export networks. Also, the mission of the company is to offer unique and advanced agricultural products.
- Shanghai Lvze
Shanghai Lvze is the leading manufacturer of agro chemical products. It is headquartered in China. The company is popular for its high quality science-base and chemical products. The company has acquired multiple companies and helped to grow its science-based products.
Rapid Innovation in Agro-Chemical Products to Fuel Market Growth
The increased need for advanced agro-chemical products and rise in demand for biological insect control products. Expansion in agricultural sector and huge adoption agro-chemical products by farmers across the globe is expected to fuel market growth. Further, technological breakthroughs, increased investments, and growing R&D initiatives is expected to fuel market growth. Rapid expansion of the market due to eco-friendly, bioinsecticides, and natural insecticides. Ongoing demand for pesticide-based pest management and increased pesticide manufacturer is expected to drive market growth in the upcoming years. Huge adoption of the chemical compound in healthcare sector is predicted to fuel market growth in the upcoming years. Increased need for crop protection application and chlorantraniliprole is predicted to fuel market growth in the forthcoming years.