Triazole Fungicides Global Market Report 2024

The triazole fungicides market size has grown strongly in recent years. It will grow from $3.87 billion in 2023 to $4.09 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth observed during the historical period can be attributed to several factors, including disease outbreaks affecting crops, the heightened intensity of commercial farming practices, the steady rise in global population, increased awareness, education, and the necessary regulatory approvals. These elements collectively contributed to the growth experienced within that timeframe.

The triazole fungicides market size is expected to see steady growth in the next few years. It will grow to $4.92 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. Anticipated growth in the forecast period is driven by various factors, notably the impact of climate change on disease patterns, the continual expansion of precision agriculture practices, the globalized nature of agricultural activities, an increasing emphasis on sustainable agricultural methods, and the ongoing development of innovative fungicide formulations. Key trends expected in the forecast period encompass technological advancements in formulation methodologies, enhanced strategies for managing fungal resistance, the continued globalization of agricultural trade and practices, a heightened focus on disease forecasting and early intervention measures, integration within integrated pest management (IPM) programs, regulatory backing for safe pesticide utilization, and substantial research and development efforts aimed at pioneering novel formulations within the triazole category. These trends collectively contribute to the projected growth within this period.

The demand for disease management and crop protection is anticipated to be a significant driver for the growth of the triazole fungicide market in the future. Crop protection involves employing methods and practices to shield crops from pests, diseases, weeds, and other factors detrimental to their growth and productivity. Disease management encompasses various techniques to prevent, control, and mitigate the impact of diseases on plants, animals, and humans. Triazole fungicides, known for their broad-spectrum activity, systemic and curative action, and effectiveness against resistant pathogens, play a crucial role in safeguarding crop yields and quality. Ongoing advancements in formulation and application techniques have further contributed to their widespread adoption. As highlighted in June 2021 by the Food and Agriculture Organization, an Italy-based specialized agency of the United Nations, approximately 40% of global crop production is annually lost due to pest damage. Additionally, plant diseases alone incur a cost of around $220 billion to the global economy annually, with invasive insects causing losses amounting to approximately $70 billion. Consequently, the imperative for disease management and crop protection is a key factor propelling the growth of the triazole fungicide market.

The increasing prevalence of crop diseases is poised to drive the expansion of the triazole fungicide market. Crop diseases hinder plants from reaching their maximum potential, resulting in diminished yields and quality. Triazole fungicides, renowned for their broad-spectrum activity against a diverse array of fungi, are expected to witness heightened usage as farmers incorporate them into integrated disease management strategies to protect their crops. Citing data from June 2021 by the National Library of Medicine, operated by the United States, crop pests and diseases cause substantial mean yield losses in key food crops. Wheat, rice, maize, potato, and soybean face notable percentage losses, underscoring the urgency of effective measures to address crop health issues and ensure global food security. Thus, the escalating incidence of crop diseases emerges as a significant catalyst driving the growth of the triazole fungicide market.

The triazole fungicide market is currently witnessing a significant trend towards product innovation, with major companies actively incorporating new technologies to maintain their competitive positions. An illustrative example is BASF SE, a Germany-based chemicals company, which, in December 2022, introduced Revysion, a groundbreaking fungicide developed over an 11-year period with a substantial investment of €250 million. As a member of the triazole family, Revysion represents a notable advancement over conventional fungicides. Formulated with the active substance Revysol, it features a flexible molecule that adapts well to fungal enzymes, ensuring high efficacy and a broad spectrum of action. This fungicide targets various fungal diseases affecting crops such as grapes, apple trees, pear trees, and stone fruit. The product launch, held in Italy, showcased the extensive research process involving experts from the fruit sector. Revysion, the only fully approved triazole fungicide under EU regulations, highlights BASF's innovative approach, prioritizing regulatory compliance before evaluating efficacy. This product offers farmers an advanced solution for effective disease management across various crops.

Major players in the triazole fungicide market are embracing innovative technologies to maintain their market positions. The integration of cutting-edge technologies in triazole fungicides enhances precision, sustainability, and overall effectiveness, providing farmers with valuable tools for disease management and contributing to the industry's growth. A case in point is FMC Corporation, a US-based chemicals company, which, in November 2022, launched a new foliar fungicide with three modes of action targeting late-season diseases – Adastrio Fungicide. Designed for crops such as corn, wheat, and barley, Adastrio offers broad-spectrum control against key foliar diseases. With a wide application window, low use rate (7-9 fl. oz./A.), and long-lasting residual control, Adastrio aims to provide flexibility, efficiency, and stress tolerance benefits for plant health. This product exemplifies the industry's commitment to innovation and sustainability, reinforcing its position in the dynamic triazole fungicide market.

In May 2022, UPL Limited, a leading Indian chemical industry company, completed the acquisition of OptiCHOS, a naturally-derived fungicide, from BioCHOS. The financial details of the acquisition were not disclosed. UPL acquired OptiCHOS as part of its strategic expansion in the natural plant protection (NPP) sector. The NPP division intends to introduce products featuring OptiCHOS within the coming years. BioCHOS, based in Norway, specializes in plant protection products.

Major companies operating in the triazole fungicides market report are BASF SE, Dow Inc., Mitsubishi Chemical Corporation, Syngenta AG, Bayer CropScience AG, Sumitomo Chemical Co. Ltd., Corteva Agriscience India Private Limited, DuPont de Nemours Inc., LANXESS, FMC Corporation, ADAMA Agricultural Solutions Ltd., UPL Ltd., Nufarm Limited, Nissan Chemical Industries Ltd., Valent U.S.A. LLC, Lier Chemical Co. Ltd., Cheminova AS, Nippon Soda Co Ltd., Limin Chemical Co. Ltd., Jiangsu Flag Chemical Industry Co. Ltd., Isagro S.p.A., Verdesian Life Sciences, Koppert Biological Systems, Marrone Bio Innovations Inc., BioWorks Inc., Nutrichem LLP, Shandong Binnong Technology Co. Ltd., Kyoyu Agri Co Ltd., SEIPASA SA, Sipcam Oxon S.p.A.

North America was the largest region in the triazole fungicide market in 2023. The regions covered in the triazole fungicides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the triazole fungicides market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

Primary examples of triazole fungicide products include epoxiconazole, triadimenol, propiconazole, prothioconazole, metconazole, cyproconazole, tebuconazole, flusilazole, and paclobutrazol. Epoxiconazole, one such fungicide within this category, demonstrates wide-ranging effectiveness against a multitude of fungal diseases. These fungicides find application across different crop types such as cereals and grains, oilseeds and pulses, fruits and vegetables, among others. Their application methods include seed treatment, soil treatment, foliar spray, chemigation, and post-harvest treatments to protect crops from fungal infections.

The triazole fungicides market research report is one of a series of new reports that provides triazole fungicides market statistics, including triazole fungicides industry global market size, regional shares, competitors with a triazole fungicides market share, detailed triazole fungicides market segments, market trends and opportunities, and any further data you may need to thrive in the triazole fungicides industry. This triazole fungicides market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The triazole fungicides market consists of sales of plant bio-stimulants, crop protection fungicides, agricultural surfactants. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.


The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).


The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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