Global Crop Protection Chemicals Market Information: By Type (Herbicides, Fungicides, Insecticides, and Others) Formulation (Emulsifiable Concentrates, Wettable Powder and Soluble Powder) Method of Application, Application and Region– Forecast till 2023
— Market Overview:
Crop protection is the practice of managing weather, weeds, pests, and diseases that damage or inhibit the growth of fruit, vegetable and other horticultural crops. Crop protection chemicals assist in these functions and promote plant growth. The most common types of crop protection chemicals include herbicides, fungicides, insecticides, and others. There are different formulations for application of crop protection chemicals such as emulsifiable concentrates, wettable powder, soluble powder, suspension concentrate, capsule suspensions, and others.
Crop protection chemicals market is projected to grow at a CAGR of 5.8% over the forecast period. Crop protection chemicals have become an integral part of the agricultural practices. Without them, many crops would suffer dramatic losses. Crop protection is the practice of managing weather, weeds, pests, and diseases that damage or inhibit the growth of fruit, vegetable and other horticultural crops. Crop protection chemicals assist in these functions and promote plant growth. The most common types of crop protection chemicals include herbicides, fungicides, insecticides, and others.
Asia Pacific is dominating the market and is expected to have a substantial growth over the forecast period 2017-2023. In Asia Pacific, continuous rise in population is increasing the demand for high agricultural productivity and driving the growth of global crop protection chemicals market. India and China, two of the largest countries in terms of population are majorly contributing the growth of crop protection chemicals in this region.
Change in farming practices and technology in developing countries is boosting the growth of crop protection chemicals market in Asia Pacific. However, several environmental and health hazards caused due to crop protection chemicals is restraining the growth of the market. Nevertheless, all these factors will lead to the growth of Asia Pacific market at a CAGR of 5.8% during the forecast period 2017-2023.
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Major Key Players:
This report includes a study of strategies such as mergers, acquisitions, and product launches by the major Crop protection chemicals players. It further includes product portfolios, developments of leading players, which includes
• BASF SE (Germany)
• The Dow Chemical Company (U.S.)
• Monsanto Company (U.S.)
• FMC Corporation (U.S.)
• Bayer AG (Germany)
• Agrium Inc (Canada) and
• Syngenta AG (Switzerland)
Bio based crop protection chemicals are expected to offer huge growth opportunity in North America and Europe.
Synthetically produced crop protection chemicals are gaining popularity globally owing to low cost and higher efficiency
Crop protection chemicals market is segmented on the basis of a type such as herbicides, fungicides, insecticides, and others. Among them, the herbicides segment is dominating the market followed by the fungicides market. The high utility of herbicides for destroying various herbs and unwanted weeds to minimize the crop loss is driving the growth of this segment.
Based on the formulation, the crop protection chemicals market is segmented into emulsifiable concentrates, wettable powder, soluble powder, suspension concentrate, capsule suspensions, and others. Among all, the suspension concentrate is anticipated to grow substantially over the forecast period owing to reduced or no use of hazardous solvents and improved stability.
On the basis of the method of application, the crop protection chemicals market is segmented into foliar, soil treatment, seed treatment, and others. The foliar applied crop protection chemicals are dominating the market and are expected to grow substantially over the forecast period.
Based on the application of the crop protection chemicals, the market is segmented into oilseeds & pulses, cereals & grains, fruits & vegetables, and others. Among all, the fruits and vegetable segment is dominating the market. However, the segment cereals and grains are expected to witness substantial growth over the forecast period.
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The global crop protection chemicals market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). Asia Pacific dominates the market and is projected to continue growing over the estimated period. India and China, two of the largest countries in terms of population are majorly contributing to the growth of crop protection chemicals in this region.
North America is the second largest consumer of crop protection chemicals. However, stringent environmental regulations in the developed economies of North America and Europe have expected to restraint the market growth in these regions. In rest of the world, South America is dominating the market.
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