Crop Protection Chemicals Market Size | Analysis, Segments, Top Key Players, Drivers and Trends
Global Crop Protection Chemicals Market: Synopsis:
Crop protection chemicals protect the crop from unwanted
herbs and weeds and aid in improving the yield quality. The report published by
Market Research Future (MRFR) projects that the global Crop
Protection Chemicals Market Size is projected to
reach USD 95.82 Billion by 2030, registering a CAGR of 5.0% during the forecast
period of 2023 to 2030.
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.
Global Crop Protection Chemicals Market: Regional
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.
Global Crop Protection Chemicals Market: Industry
Updates:
In August 2018, Delhi-based Crystal Crop Protection Ltd. has
announced that it has acquired four insecticide and herbicide brands, Furadan,
Splendour, Metcil, and Affinity Force from a U.S-based diversified chemical
company, FMC Corporation. This acquisition is set to strengthen the product
portfolio of this agrochemical company.
Global Crop Protection Chemicals Market: Key Players:
Some of the prime players profiled by Market Research Future
(MRFR) that are operating in the global crop protection chemicals market are
BASF SE (Germany), The Dow Chemical Company (the U.S.), Monsanto Company (the
U.S.), FMC Corporation (the U.S.), Bayer AG (Germany), Agrium Inc. (Canada) and
Syngenta AG (Switzerland).
Crop Protection Chemicals Market: Segmental Analysis:
The global Crop
Protection Chemicals Market Overview has been segmented on the
basis of type, formulation, method of application, and application. Based on
type, the global crop protection chemicals market has been segmented into
herbicides, fungicides, insecticides, and others. The herbicides segment
commands the dominant share of the global crop protection chemicals market
followed by the fungicides segment. Increased utilization of herbicides for
destroying various types of unwanted weed and herbs to optimize the quality of
yield loss is propelling the growth of this segment.
Based on 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 concentrates segment commands the significant share of the global
crop protection chemicals market owing to the improved stability and reduced
use of hazardous solvents in this formulation.
Based on 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 crop protection
chemicals market.
Based on application, the global crop protection chemicals
market has been segmented into oilseeds & pulses, cereals & grains,
fruits & vegetables, and others. Among these, the fruits and vegetable
segment commands the dominant share of the global crop protection market.
However, the cereals and grains segment is anticipated to project notable
growth during the assessment period.
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