NEW YORK, Aug. 15, 2016 /PRNewswire/ -- The global crop protection chemicals market is projected to reach a value of USD 70.57 billion by 2021, growing at a CAGR of 5.15% from 2016 to 2021. The market is driven by factors such as rising crop loss due to pest attacks, growing need for food security for the increasing population, and rising preference for biopesticides. The changing farming practices from traditional to conventional clubbed with advanced technologies and promotion of Integrated Pest Management (IPM) by the governments of many countries across the world drives the demand for crop protection chemicals in the agriculture sector.
"Herbicides accounted for the largest market share in 2015 among the types of crop protection chemicals"
On the basis of type, crop protection chemicals are segmented into herbicides, insecticides, fungicides and others which include acaricides, rodenticides, nematicides, disinfectants, fumigants, mineral oils, and other crop protection chemicals such as sulfur, and petroleum oils sulfuric acid. Among these, herbicides accounted for the largest market share in 2015, followed by insecticides and fungicides. Herbicides are largely used for protecting cereals & oilseeds from harmful weeds that restrict the growth of crops.
"Foliar spray segment led the market with the largest share in 2015"
On the basis of mode of application, the crop protection chemicals market segmented into foliar spray, seed treatment, soil treatment and others which include Chemigation and fumigation. The market was led by foliar spray followed by soil treatment and seed treatment. Foliar spray is largely used by farmers because of its high effectiveness and ease in usage.
"South America dominated the market with the largest share"
South America formed the largest market for crop protection chemicals in 2015, whereas Asia-Pacific accounted for the second-largest market share in 2015, and is projected to grow at the highest CAGR from 2016 to 2021. The global crop protection chemicals market is segmented region-wise, with a detailed analysis of each region by studying the key markets. These regions include North America, Europe, Asia-Pacific, South America, and the Rest of the World (RoW).
Breakdown of profile of primary participants is as follows:
- By Company Type: Tier 1 – 30 %, Tier 2 – 45%, and Tier 3 – 25%
- By Designation: Directors – 22%, C level – 28%, and Manager level – 50%
- By Region: North America – 35%, Europe – 23%, Asia-Pacific – 25%, South America – 10%, and RoW – 7%
Key players identified in the crop protection chemicals market include BASF SE (Germany), The Dow Chemical Company (U.S.), E.I. du Pont de Nemours and Company (U.S.), Sumitomo Chemical Co., Ltd. (Japan), and Syngenta AG (Switzerland). Along with these companies, the other players that have a strong presence in the crop protection chemicals market include Bayer CropScience AG (Germany), FMC Corporation (U.S.), Monsanto company (U.S.), Nufarm Limited (Australia), and ADAMA Agricultural Solutions Ltd. (Israel).
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the crop protection chemicals market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on crop protection chemicals offered by the top players in the global crop protection chemicals market
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the crop protection chemicals market
- Market Development: Comprehensive information about lucrative emerging markets—the report analyzes the markets for crop protection chemicals across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global crop protection chemicals market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global crop protection chemicals market
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