Agricultural Fumigants Market Overview
Agricultural Fumigants Market is expected to register a CAGR of 4.9% over 2017-2023.
Agricultural Fumigants Market will gain considerable growth impetus from the fact that fumigants are used in both pre and post-harvest stages. Fumigant pesticides are also used on grains and crops post-harvest to reduce insects, ticks and mites, snails and slugs as well as fungal diseases. Farming techniques are improving and are boosting crop production. A United Nations survey in 2017 predicted that the global population will reach 8 billion by 2023. Therefore, it is of crucial importance to protect these crops once harvested to feed such a massive population thus strengthening the case for agricultural fumigants utilization.
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With rising pressure on the planet to increase crop production and secure produced crops, agricultural fumigation market has gained impetus as the procedure is essential in ensuring crops are free of pests. Agricultural fumigants are used to control insects and diseases in soils, ground burrowing rodent control and keep insects away from fresh and stored food products such as grains, vegetables, fruits, nuts and dried food stuff. With an expanding population burden, the planet has more people to feed and it is therefore of significance that crops are protected against pests and rodents to maximize agricultural returns.
Toxicity of fumigants had long been a matter of intense public scrutiny and their presence in soil and water have often been proved to be harmful to biological organisms. However, the significance of fumigants in ensuring safe crop growth and storage has led Agricultural Fumigants Market players to increasingly invest in R&D projects to develop safer alternatives, thus boosting trends for Agricultural Fumigants Market.
Competitive Analysis
Agricultural Fumigants Market players include prominent chemical companies as well as companies that deal exclusively in development of fumigants. They include, BASF SE (Germany), The Dow Chemical Company (U.S.), Nufarm Limited (Australia), FMC Corporation (U.S.), ADAMA Agricultural Solution Ltd (Israel), Reddick Fumigants, LLC (U.S.), Syngenta AG (Switzerland)
Industry News
Strong trends of mergers and acquisitions have been noted in the agricultural fumigants industry as bringing new products to the market is a challenging job and requires substantial amount of money and resources. For instance, Nufarm Limited of Australia is being considered for a potential takeover by a U.S. based private equity firm. Research and development activities are expensive and must be intensive to stay ahead of the bugs and diseases farmers must control. Moreover, various companies team up to make the process of receiving regulatory approvals easier, thus smoothening the process of expanding their footprint in the Agricultural Fumigants Market
Market Segmentation
There are various types of fumigants and on the basis of types, Agricultural Fumigants Market is subdivided into methyl bromide, phosphine, metam sodium, chloropicrin, 1, 3-Dichloropropene, and others. Methyl bromide is widely used as a fumigant and held a major share in the agricultural fumigant market. But due to its ozone depleting nature, the use of methyl bromide is being scaled down. Phosphine followed by chloropicrin are two fumigating compounds that are expected to gain substantial traction as methyl bromide is slowly phased out.
Agricultural Fumigants Market is segmented into solid, liquid and gas on the basis of form. Liquid fumigants had been known to dominate the Agricultural Fumigants Market in terms of revenue as they are easy to spread through the sol. However, over the forecast period, gaseous agricultural fumigants are expected to gain considerable growth impetus owing to their efficiency in reaching insects in stored places.
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Regional Analysis
Among the various global regions, North America Agricultural Fumigants Market share is expected to be the highest. Enhance agricultural fumigants and increased research activities to develop better fumigants to improve crop production while taking environmental concerns into consideration are factors responsible for North America Agricultural Fumigants Market growth.
Asia Pacific Agricultural Fumigants Market is anticipated to be the fastest growing market in the coming years owing to improvement in crop production techniques in the region. The vast populace in India and China are substantial contributors to the demand for increased crop production, thus driving the Agricultural Fumigants Market.
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