The report published by Market Research Future (MRFR) projects that the global crop protection chemicals market is marked to exhibit moderate expansion at a CAGR of 4.9% during the forecast period of 2017-2023.
Crop protection chemicals protect the crop from unwanted herbs and weeds and aid in improving the yield quality. Increasing demand for food as a result of rapid rise in global population is leading to high demand for good quality crops, which in turn is propelling the growth global crop protection chemicals market during the assessment. Limited availability of farmlands due to rapid urbanization is inducing demand for increased agricultural productivity on a limited land area, leading to the increased utilization of insecticides and pesticides, which is also contributing to the expansion of the global crop protection chemicals market. However, stringent environmental regulations imposed over the production of agrochemicals and toxic nature of these chemicals are restraining the growth of the global crop protection chemicals market during the assessment period.
Competitor Analysis:
- Agrium Inc.
- FMC Corporation
- Syngenta AG
- Bayer AG
- BASF SE
- Monsanto Company
- The Dow Chemical Company
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Crop Protection Chemicals Market Segmentation:
The global crop protection market has been segmented based on type, formulation, method of application, and application.
By type, the global crop protection market has been segmented into herbicides, fungicides, insecticides, and others. The herbicides segment is the largest segment followed by the fungicides segment. Herbicides witness high demand due to its efficacy in minimization of crop loss by unwanted weeds.
By formulation, the global crop protection chemicals market has been segmented into emulsifiable concentrates, wettable powder, soluble powder, suspension concentrate, capsule suspensions, and others. The suspension concentrate segment is likely to showcase rapid growth over the forecast period. Suspension concentrates do not contain any hazardous solvents and exhibit improved stability.
By method of application, the global crop protection chemicals market has been segmented into foliar, soil treatment, seed treatment, and others. The foliar segment is dominating the global market.
By application, the global crop protection chemicals market has been segmented into oilseeds & pulses, cereals & grains, fruits & vegetables, and others. The vegetable segment is the largest segment while the cereals and grains segment is expected to expand rapidly.
Market Research Analysis:
This market research report further provides an insight into various levels of analysis such as industry analysis, market share analysis as well as leading market players and their profiles. This report also helps in studying target consumer segments by providing views on emerging and high-growth segments and market size. Together the market data comprise and discuss basic valuations on the competitive scenarios and strategies of the Asia Pacific Crop protection chemicals market including high-growth regions, countries and their political, economic and technological environments. Furthermore, the project report also provides views of historical market values as well as pricing and cost analysis of the same.
Latest Industry News:
In January 2019, BASF, a leading German Chemical company expanded its operations in Cambodia with the launch of three new crop protection products in the country. The new crop protection chemicals include Basagran Herbicide, Tetris Herbicide, and Regent 50 SC Insecticide which will be ideal for application in rice production.
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Global Crop Protection Chemicals Market: Geographical Analysis
Geographically, the global crop protection chemicals market has been segmented into four major regions such as Europe, Asia Pacific, North America and the rest of the world.
The crop protection chemicals market in the Asia Pacific region commands the major share of the global crop protection chemicals market owing to the increasing demand for agrochemicals in the agriculture sector for improving the crop quality and increased production of agrochemicals as a result of availability of cheap raw materials in this region. Increased production and supply of agrochemicals such as pesticides, insecticides, and others in order to increased the productivity and fertility of land and incorporation of advanced technology for manufacturing the agrochemicals are propelling the growth of the crop protection market in the North America region. Increased research for the development of high-quality crop protection chemicals that provide faster results is fueling the growth of the crop protection chemicals market in Europe region.
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