Impending Expiry of Patents Make BASF, Bayer, and Syngenta Vulnerable in the Global Crop Protection Chemicals Market
HYDERABAD, India, September 27, 2016 /PRNewswire/ --
Mordor Intelligence announces the release of their research report on crop protection chemicals (pesticides) market. The report titled "Global Crop Protection Chemicals (Pesticides) Market - Growth, Trends and Forecasts," discusses the current landscape and outlook of the said market.
The global pesticide market is expected to project a CAGR of 5.79% during the forecast period 2016-2021. The market is projected to reach a value of USD 81953.27 million by 2021.
The pesticides industry is experiencing a steady growth rate, which could be attributed to the demand of biopesticides as well as the adoption of herbicide resistant crops by farmers. While the prevalence of chemical or synthetic pesticides in crop protection would continue, human, animal and environmental health concerns are likely to play key roles in driving the growth for biopesticides. Emerging economies in Asia-Pacific and Latin America are likely take the lead in adoption of both synthetic pesticides and biopesticides.
Our report on crop protection chemicals market is segmented as follows:
- By Chemical Type
- Herbicides
- Insecticides
- Fungicides
- Other Crop Protection Chemicals
- By Application Type
- Crop-Based Pesticides
- Non-Crop Based Pesticides
- By Geography
- North America
- Europe
- Asia-Pacific
- South America
- Africa
In May 2016, Pesticide Action Network - Europe along with 38 European health and environmental organizations, advised decision-makers of the 28 EU Member States to vote against the cancer-causing pesticide ingredient glyphosate. Subsequently, Monsanto was forced to stop production of glyphosate. Patents related to BASF, Bayer, LG Life Sciences, Sumitomo Chemical Co., Ltd. and Syngenta are expected to expire soon, making them vulnerable for business opportunities.
Some of the major players profiled in the detailed report include: Monsanto, Syngenta, Bayer, Dow Agrosciences and BASF.
About Mordor Intelligence:
Mordor Intelligence is a global market research and consulting firm. Our focus is to provide research insights to facilitate business success. Our research expertise covers niche segments under Agriculture, Healthcare, ICT, Chemicals, Manufacturing, Logistics, Electronics and Automotive, among others. We believe in data, and we provide solutions through it. Optimum solutions and goal-oriented strategies define our endeavors and make us the preferred choice for clients.
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