Crop Protection Chemicals Market to Witness Growth at 7.8% CAGR Till 2022: Grand View Research, Inc.
(firmenpresse) - SAN FRANCISCO, CA -- (Marketwired) -- 05/24/16 -- Global market size was 2,300.0 kilo tons in 2014 and is expected to grow owing to rapid population growth need for high yield crops and reduced arable or cultivable land. These chemicals deal with managing weeds, plant diseases and pests which damage forestry, agricultural crops, field crops, vegetable crops, fruit and horticulture crops.
Rising awareness regarding ill-effects of contaminated food on health has led to an increasing demand for crop protection chemicals. Increase in harmful species including weeds, nematodes and crop insects disrupting the growth of the crops is expected to augment the market demand significantly. The market is anticipated to reach USD 90.09 billion by 2022.
Herbicides market was valued at USD 18.11 billion in 2014. They are extensively used owing to their property of selective destruction of unwanted weeds leaving desired crops unharmed. In addition, increasing availability of organic herbicides as well as products exhibiting properties similar to natural plant hormones is expected to bolster growth.
Demand for insecticides was 805.4 kilo tons in 2014. Asia Pacific demand for insecticides was driven by rising usage of chemicals in emerging economies including India and China. Climatic conditions resulting in the presence of pests which adversely hamper crop yield has resulted in driving demand for the product in the region over the past few years and the trend is anticipated to continue over the forecast period.
Fungicides accounted for about 22.7% of the industry volume in 2014. Favorable climatic conditions across major crop producing regions are one reason to propel the demand of the chemicals. Fungicides are available in forms of eradicants and protectants.
Cereals accounted for 19.0 % of the crop protection chemicals industry volume in 2014, due to its increasing demand in Latin America and Asia Pacific, where traditional food grains and pulses are consumed in a larger amount. This trend is expected to continue owing to the rising demand for healthy foods and an exponentially increasing consumer base.
Cotton was the largest application valued at USD 12.65 billion in 2014, owing to the rising demand of agrochemicals used in cotton production. Growing demand for cotton to manufacture apparel, technical textiles and home furnishings is expected to drive industry growth.
Fruits & vegetables accounted for over 17.0% of the total revenue in 2014. Rising popularity of biopesticides which allow for direct consumption of crops will propel demand over the forecast period.
North America dominated the global industry owing to high adoption of modern farming practices. The market is expected to grow at a CAGR of 7.3%, in terms of volume, from 2015 to 2022, due to increasing consumer awareness about side-effects of using synthetic pesticides.
Asia Pacific crop protection chemical market was valued at USD 14.03 billion in 2014. Growing population coupled with rising demand for crops in emerging economies of the region is expected to drive growth over the forecast period. Moreover, several economies in the region rely heavily on the agricultural sector, which is expected to further augment demand.
Crop protection chemical demand in Europe was 696.4 kilo tons in 2014. Growing demand for biopesticides on account of rising consumer awareness regarding the adverse effects of chemicals on the ecology is expected to drive growth.
Key players in the market include Monsanto, American Vanguard, Bayer CropScience, Arysta LifeScience, BioWorks, Chemtura Corp, BASF SE, Cheminova, Dow AgroSciences, DuPont, Ishihara Sangyo Kaisha, FMC Corp, Isagro SpA, Makhteshim Agan, Marrone Bio Innovations, Nufarm Ltd, Sumitomo Chemical, Novozymes A/S, Monsanto, Natural Industries Syngenta AG, and Valent Biosciences.
Herbicides
Fungicides
Insecticides
Others
Fruits & vegetables
Cereals
Maize
Cotton
Rice
Others
North America
Europe
Asia Pacific
ROW
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
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Datum: 24.05.2016 - 10:30 Uhr
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News-ID 473066
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